A TFSA allows you to buy equities like stocks, mutual funds, GICs, bonds and of course ETFs so your money can grow tax-free. TFSA’s are Tax Free Savings Accounts are, as the name says, a way to save money with tax free growth and tax-free withdrawals.
The Registered Education Savings Plan, commonly known as the RESP, is the best solution to save for a child’s education.
Guaranteed Investment Certificates which guarantee interest on your deposit for a fixed time period.
Investment portfolios issued by Insurance companies and as such have important Guarantees, creditor protection, resets and estate benefits.
Bond Funds are invested in high grade government, municipal and corporate bonds.
LIF’s A Life Income Fund is a way to convert money from your pension plan or LIRA into an income stream.
Individual Pension Plan.If you’ve hit your RRSP contribution limit and you fit certain criteria, an IPP is another way you can save for retirement while saving tax.