What Should You Do With Your Tax Return?

It’s been a couple of weeks since the April 30th  tax return deadline has passed. If you’ve setup auto deposit to your bank account, on the CRA website, you would have received your tax refund by now. For many this comes as a bit of a windfall when the money situation is tight. So what…

Making The Right RRSP Choice

The RRSP deadline for Canadians that want to make a contribution is on March 1, 2018. That leaves just under 2 weeks away if you want to make a contribution this year. As RRSP goes, Canadians are making less and less contributions towards their retirement. In fact, as reported by the CBC, Canadians have been…

Should You Contribute To Your RRSP for 2017?

The financial obligations to the new year always comes around so fast. First, we finish paying off our Christmas bills and then BAM! RRSP season hits. The deadline to contribute money towards your 2016 RRSP comes March 1, 2017. That means there is just a little over 2 weeks left to come up with the…

Should You Borrow Money For RRSP

Just a couple of weeks ago I received a letter in the mail from my friendly neighbourhood bank. “Get the money you need to build your RSP”. I was pretty much given a pre-approved $20,000 credit from the bank at a low interest rate of prime + 0%. Only prime plus 0%? That’s ridiculous. It’s…

Not All RRSP Contributions Are Alike

It’s that time of the year again where we all should start thinking about making contributions to our registered accounts for long term investment. In Canada that means taking advantage of the TFSA and the RRSP. For our Amerifriends that means thinking about taking advantage of your Roth IRA accounts or your 401k’s. Like all registered accounts,…

How I Invest Tax Free Using A Non-Registered Account

When it comes to tax free investing many people I know will directly point to two popular methods to do it. The RRSP and the TFSA account. These are two of the most popular investment tools available to Canadians today. They both enjoy prime media coverage and the benefits of each are well known and…

Why The TFSA Might Be Better For The Poor Than The RRSP

There is so much bad press about the increase in the TFSA account. Everywhere you read it states that the TFSA increase only benefits the rich and not the middle class or the poor. I actually disagree with this statement in some sense. It’s true that individuals have less money to put away into their…