How does a TFSA work? You can hold qualified investments like cash, stocks, bonds, mutual funds in a TFSA and can withdraw contributions as well as the interest, capital gains, and dividends earned in the account at any time1, without paying taxes (or reporting the withdrawals as income wh...
Let's say you're looking for a short-term investment. One that doesn't carry too much risk and you're too busy to monitor your investments. If that's the case, a savings account in your TFSA may work for you. Fairly basic, it works just like a regular savings account. You put ca...
How does your investing timeline affect your risk tolerance? How do you balance your portfolio to get the right blend of risk and security? How much time do you have to invest? These charts help explain how staying invested over the long term is a solid strategy for growing your money over...
understanding the impact of taxes is crucial. Whether you have a savings account or are considering opening one, it’s important to grasp the concept of taxation on savings account interest. By having a clear understanding of how much tax you’ll need to pay and the different tax rates that...
How much do I have to invest? If you have a large sum of money to invest, a GIC will usually provide the best interest rates as long as you don't need access to your cash for at least a month or longer. Even if you don't think you need access to you...
If the child is over 21, you may have to pay taxes as well as return the CESG and CLB contributions to the account. Donate the amount to a college or university tax-free. You may be able to get a tax-deductible receipt if the school is registered. Finder survey: How much do ...
Figuring out how much to contribute to your RRSP is important. Do it right, and you maximize your tax savings now, while setting yourself up for a good income after retirement. Do it wrong, and you could find yourself paying more taxes than you have to.
“So somebody who’s making lesser income now, but they have a career where maybe they’re making twice as much in a few years — they’re better off concentrating on a TFSA. And people who are higher earners right out of the gate might be better off with the RRSP, because of th...
Like any other market, it depends what people are willing to pay. Figuring that out is complicated and abstract, but it’s essentially driven by three things: Intrinsic value, or how much the underlying stock price needs to move for the option to be in the money.In the Kale example above...
There are different measures, and much depends not just on income and health outcomes but also on the standard of living one can have on that income. The cheapest countries in which to retire include Portugal, Panama, the Philippines, Malaysia, Mexico, Thailand, and Vietnam.15As for retiremen...