A glass cup filled with coins, with a small green plant growing from the coins.

You should invest NOW because it helps grow, preserve, and build your wealth for future financial goals.

Which works best for me?

Dive deep into investment and savings to know your options

Ask yourself…

  • Why do I need to save?

  • Which investment goal is important to me? Do I wish to preserve my capital or to provide a guaranteed lifetime income?

  • What kind of investments are best for building wealth over time?

  • How early should I start investing, and why?

  • What’s the difference between RRSP, TFSA, and FHSA?

  • How can investing today lead to a more secure and fulfilling tomorrow?

  • Purpose: To help you save for retirement.
    Key Benefits:

    • Tax-deductible contributions: You can deduct what you contribute from your taxable income, reducing how much tax you pay that year.

    • Tax-deferred growth: Investments inside the RRSP grow tax-free until you withdraw them.

    • Withdrawals: When you take money out (usually in retirement), it’s taxed as income — but since most people earn less in retirement, you typically pay less tax.
      Extras:

    • You can use part of your RRSP for a down payment on your first home (Home Buyers’ Plan) or to pay for education (Lifelong Learning Plan).

  • Purpose: Flexible savings for any goal — emergency fund, travel, home, or retirement.
    Key Benefits:

    • Tax-free growth: All interest, dividends, and capital gains are tax-free — even when you withdraw.

    • No tax on withdrawals: You can take out money anytime, for any reason, without paying tax.

    • Contribution room returns: Whatever you withdraw, you get that contribution room back the following year.
      Note: Contributions are not tax-deductible, but the growth and withdrawals are tax-free.

  • Purpose: To help first-time homebuyers save for their first home.
    Key Benefits:

    • Tax-deductible contributions (like an RRSP).

    • Tax-free withdrawals for a qualifying home purchase (like a TFSA).

    • Annual limit: Up to $8,000 per year, with a lifetime limit of $40,000.

    • Unused room carries forward — and you can combine it with the RRSP Home Buyers’ Plan for extra savings.

  • Purpose: To save for a child’s post-secondary education.
    Key Benefits:

    • Government grants: The Canada Education Savings Grant (CESG) adds 20% to your contributions, up to $500 per year per child (to a lifetime max of $7,200).

    • Tax-deferred growth: Investments grow tax-free inside the plan until withdrawn for school.

    • Withdrawals: The money used for education is taxed under the student’s name (usually with little to no tax since students often have low income).

  • Purpose: To help Canadians with disabilities (or their families) save long-term for their financial security.
    Who it’s for: Individuals who are eligible for the Disability Tax Credit (DTC).

    Key Benefits:

    • Government grants and bonds:

      • Canada Disability Savings Grant (CDSG): The government matches your contributions — in some cases up to 300%, depending on family income.

      • Canada Disability Savings Bond (CDSB): For low-income individuals, the government can contribute up to $1,000 per year even if you don’t contribute anything.

    • Tax-deferred growth: Money inside the RDSP grows tax-free until withdrawn.

    • Long-term focus: Designed to support financial security later in life.

    • High lifetime limits: Up to $200,000 in total contributions (not including government grants/bonds).

    • Contributions allowed until age 59, and grants/bonds until age 49.