Investments

RESP - Registered Education Savings Plan

RRSP - Registered Retirement Savings Plan

RESP is a tax-advantaged savings plan in Canada designed to help parents and guardians save for their children's post-secondary education. Contributions grow tax-free until withdrawal, and government grants can further boost savings.

RRSP - Registered Retirement Savings Plan

RRSP is a Canadian retirement savings account that allows individuals to save for retirement while benefiting from tax deductions. Contributions are tax-deferred, and investments grow tax-free until withdrawal, usually during retirement.

TFSA - Tax Free Savings Account

RRSP - Registered Retirement Savings Plan

TFSA - Tax Free Savings Account

TFSA is a flexible Canadian savings account that allows tax-free growth of investments. Contributions are not tax-deductible, but any earnings, interest, or withdrawals within the account are not subject to taxation.

Segregated Funds

FHSA - First Home Savings Account

Segregated funds are investment products offered by insurance companies. They combine the benefits of mutual funds with insurance features, providing both potential investment growth and a level of principal protection, making them suitable for risk-averse investors.

FHSA - First Home Savings Account

The First Home Savings Account (FHSA) is a type of registered savings plan introduced by the federal government in 2022. An FHSA is designed to help you save for your first home, tax-free and help you reach your vision of owning a home faster.

Annual contributions are capped at $8,000 up to a $40,000 lifetime contribution limit.
A maximum of $8,000 unused contribution room can carry forward to the following year.
The account can stay open for a maximum 15 years or until the end of the year you turn 71