Back to learn
Yay I have savings! Now, where do I put them?
Rounding it up
We know savings are good, but do we know where to put them? HISAs, or High Interest Savings Accounts are great if you’re saving up for something near-term.
GICs, or Guaranteed Investment Certificates, is a low-risk investment that’s guaranteed to make interest as long as you leave the money alone.
If you have medium-term goals, like getting a car, a TFSA or Tax-Free Savings Account is your best bet. Plus, any money you put away in a TFSA won’t get taxed.
Thinking longer term? Consider RRSPs, or Registered Retirement Savings Plans.
Related articles
Do credit scores matter for retirement?
7 mins
Gaby PilsonWorried that your credit score will complicate your retirement? Here’s what you need to know about credit in retirement.
Do credit scores matter for retirement?
7 mins
Gaby Pilson
Worried that your credit score will complicate your retirement? Here’s what you need to know about credit in retirement.
#Credit score
#retirement
#savings
How much does inflation affect retirement?
3 mins
Ally StreelmanDon’t let inflation cramp your future. Learn how it affects your retirement and what you can do.
How much does inflation affect retirement?
3 mins
Ally Streelman
Don’t let inflation cramp your future. Learn how it affects your retirement and what you can do.
#retirement
#savings
#inflation
What is the best interest rate on savings accounts?
7 mins
Yekaterina GalanovaNot all savings accounts are created equal. Learn here how to pick the one that has your best interest in mind.
What is the best interest rate on savings accounts?
7 mins
Yekaterina Galanova
Not all savings accounts are created equal. Learn here how to pick the one that has your best interest in mind.
#interest
#interest rate
#savings
#savings account
How much is a mortgage downpayment in Canada?
5 mins
Yekaterina GalanovaThe down payment is the amount of money you put down towards a mortgage loan when buying a house. The standard down payment for a mortgage in Canada is 20% but can be as low as 5% or as high as 35%.
How much is a mortgage downpayment in Canada?
5 mins
Yekaterina Galanova
The down payment is the amount of money you put down towards a mortgage loan when buying a house. The standard down payment for a mortgage in Canada is 20% but can be as low as 5% or as high as 35%.
#mortgage
#savings
#budgeting
What is the equivalent of a 401k in Canada?
7 mins
Dan BuchererDon’t fear! There are 401(k) type accounts in Canada and in many ways, they’re better than their American counterparts.
What is the equivalent of a 401k in Canada?
7 mins
Dan Bucherer
Don’t fear! There are 401(k) type accounts in Canada and in many ways, they’re better than their American counterparts.
#retirement
#401k
#RRSP
Can newcomer Canadians qualify for retirement plans?
8 mins
Ally StreelmanNew to Canada and eager to get your financial ducks in a row? Learn how you can start retirement planning today.
Can newcomer Canadians qualify for retirement plans?
8 mins
Ally Streelman
New to Canada and eager to get your financial ducks in a row? Learn how you can start retirement planning today.
#retirement
#newcomer
#RRSP
#TFSA