Get Focused on Your Short and Long Term Savings
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Registered Retirement Savings Plan
(RRSP) Help save for your future. This is your self-made pension plan. Contributions are tax-deductible.
RRSPs can be used for:
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Tax-Free Savings Account
(TFSA) Commonly looked at as a savings vehicle for your short-term goals. Save for a home, car, or a vacation.
TFSA savings goes in after-tax and comes out after-tax.
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Locked-In Retirement Account
(LIRA) Pension from a previous employment.
If you leave your employer you can take your pension with you. |
Registered Education Savings Plan
(RESP) Post secondary education can be expensive. Get some help by utilizing the Government of Canada's grants, to help you build your children's or grandchildren's education savings with an RESP.
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Registered Disability Savings Plan
(RDSP) Disabled persons in Canada are now eligible to apply for grants through the RDSP from The Government of Canada. This type of account is established to help a disabled person save for the long-term.
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Registered Retirement Income Fund
(RRIF) Ready for retirement? Once you transition in to retirement and are needing an Income Stream from your personalized Financial Plan your RRSP will transfer in to a RRIF. Only the income withdrawn out of the account will be considered income.
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Life Income Fund
(LIF) A past employers pension registered in a LIRA will convert to a LIF in retirement or income needed years. LIFs have more restrictions on the income you may take from them than a RRIF.
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Non-Registered Account (OPEN)
Non-registered accounts are commonly referred to an OPEN plan. These can be account In-Trust for children or other individuals or simply held by the individual. They are 'open' to taxation on any growth but loses can be used for tax purposes. Always speak to your accountant regarding these types of strategies.
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Group Plans
Some employers create Group Plans instead of traditional pension plans with employees. This can give the employee more flexibility and control over their own account.
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Office Address
Monday to Friday - 8:30am to 4:00pm
*please note these hours are subject to change over the holidays. Summer - Closed Friday AFTERNOONs |