A personal savings account that has special tax advantages with a variety of qualifying investments such as: guaranteed interest products, mutual funds and segregated funds. Contributions are tax deductible and investments grow tax deferred.

Investors will soon see more detailed information about the advice fees they pay. To assess these fees, consider both the amount paid and the value received. Here are some thoughts on how to judge value.

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Allows you to save money for any purpose, without paying taxes on the investment growth. Your contributions will not be deductible for income tax purposes.

Is a tax-sheltered way to help save for a child’s post-secondary education. Government grants can make your RESP grow even faster.

Similar to a RRSP it allows you to use qualifying investments such as: guaranteed interest products, mutual funds and segregated funds. Contributions are not tax deductible because they were originally held in a pension plan, but investments grow tax deferred.

When it comes to estate planning, you can take steps now to help ensure that loved ones will not endure additional stress during a difficult time.

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Tough questions from clients should be encouraged. Dealing with any uncertainties can only strengthen the advisor-client relationship.

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A long-term savings plan designed to help people with disabilities and their families save for the future. The RDSP makes it easier to accumulate funds by providing assisted savings through government grants with tax deferred investment growth.

A way to use your RRSP to generate retirement income while keeping your money invested in a tax deferred plan. There is a required minimum withdrawal each year but no limit to the withdrawal amount of the account. You are required to move your money out of your RRSP by December 31 of the year you turn 71.

Similar to a RRIF but is for money that originally came from a pension plan. The funds are held in either a locked-in retirement account or a locked in RRSP and then converted to a LIF. Different provinces have different pension legislations but there is a minimum and maximum yearly withdrawal required.

In exchange for a lump sum premium an insurance company guarantees you a steam of income payments for life or as long as the contact specifies.