Tax Free, High Interest Savings

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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.

8 min read

Megan Radisa
#savings#TFSA#RRSP#GIC#HISA#savings account

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