Investments
RRSP
A registered retirement savings plan (RRSP) is a personal savings account that comes fully equipped with tax benefits. RRSPs are such a great tool for saving money since all of your contributions are tax deductible, and because the taxes on any investment growth are delayed until you take money out. A registered retirement savings plan can also have a number of qualifying investments, including treasury bills, mutual funds, and much more.
RESP
RESP a registered education savings plan (RESP) is a great option to consider when saving for a child, or grandchild’s post-secondary schooling. There are two different types of RESP available: a family plan, which allows people to name more than one beneficiary, and a specified plan, which allows for one beneficiary.
TFSA
A tax-free savings account (TFSA) is a flexible investment account that is designed to help you save money. With it, you can save up to $5,500 a year without having to pay taxes on the investment growth. Having a TSFA is perfect for saving for both long term and short term goals as you get tax-free earnings, tax-free withdrawals, and the ability to put back any money you take out.
GIC
A guaranteed investment certificate (GIC) is an investment that guarantees you 100% of the original amount that you invested. They stand as one of the safest investments that you can make as you are receiving a guaranteed amount of interest for a guaranteed amount of time.
High Interest Savings account
A high interest savings account offers a higher interest rate than what is available with a regular savings account. The account has no minimum or monthly fees, free fund transfers and convenient access.
To make all of this possible, Max Mortgages is proud to be working with: Fidelity, dynamic, AGF, Mackenzie, Frankline templeton, TD and RBC.
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