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What’s a RESP? A RESP stands for Registered Education Savings Plan. A RESP is a registered account with the federal government to allow Canadians to save for a child’s post-secondary education. RESP is advantageous for two reasons: How much can…
What’s a TFSA? A TFSA, which stands for Tax-Free Savings Account, was introduced in 2009 by the federal government as a way for Canadians to accrue investment gains tax-free. This means that within a TFSA account, revenues generated from investments…
What’s an RRSP? A RRSP stands for Registered Retirement Savings Plan. An RRSP is a registered account with the federal government to allow Canadians to save for retirement purposes. RRSP is advantageous for two reasons: Who is eligible? Canadian residents…
