For those looking for more traditional money management tools, Wealthsimple also offers Wealthsimple Cash account, a high interest savings account currently offering an eye-popping 4% interest rate (higher for Premium and Generation clients) as well as 1% cashback on their associated prepayment card....
The must-haves of a chequing account, but with a minimum {{CASH_INTEREST_RATE_CORE}} interest. Earn high interest when you save, and earn rewards when you spend.
You can open a traditional savings account at your bank. Or you can openWealthsimple Save accountwhich is kind of like a chequing and savings account combined. Using a Wealthsimple Save account means you'll probably end up earning much more interest compared to your regular run of the mill sa...
Tax-free savings account (TFSA) Registered retirement savings plan (RRSP) Spousal RRSP Registered education savings plan(RESP) Locked-in retirement account(LIRA) The Bottom Line Passive investors will find a lot to like at Wealthsimple. New investors will not be overwhelmed by the amount of educat...
Before he was the guy from Parts Unknown, he was 44, never had a savings account, hadn't filed taxes in 10 years, and was AWOL on his AmEx bill. That turned out to be a great financial education. Featured Topic Finance for Humans How to be a better money person See more articles ...
In 2022, Wealthsimple consolidated its zero-commission self-directed trading, cryptocurrency trading, chequing and savings account, and robo-advisor all into a unified app.4 Wealthsimple has committed to making its workforce more diverse, and to include more BIPOC voices. The firm publishes regular ...
Registered Education Savings Plan (RESP): What it is and how it works ByAndrew Goldmanand Luisa Rollenhagen 8 min read An RESP is a tax-advantaged savings account for a child’s future education, funded by the Canadian government. Here’s how to save using an RESP. ...
A high yield savings account is a deposit account that offers higher interest rates to standard deposit accounts. The kind of financial institution you choose to save your money in has a significant effect on the interest rate you receive. Brick-and-mortar banks, which have all kinds of costs...
Any money you put into an RRSP within the contribution limit is deducted from your annual income — meaning nice savings for you at tax time. Withdraw at a lower tax rate later Any growth in your account is tax-free until withdrawal. When it comes time to withdraw in retirement, you’ll...
Wealthsimple Investments Inc. (WSII) charges a 1.5% currency conversion fee on CAD and USD conversions (and vice versa) when trading US-listed securities from your CAD Account. For clarity, This fee is applied to the WSII Corporate Exchange Rate. ...