Registered Retirement Savings Plans
Registered retirement savings plans, or RRSPs, are a form of tax-deferred savings plan designed to assist individuals in saving for retirement. Contributions to the plans are tax deductible, and the investments grow tax-free. Upon withdrawal, the funds are then taxed as ordinary income to the individual.
One of the most basic pieces of investment advice you’ll ever hear is to make sure you carefully read a contract and get clarification of anything you don’t understand before you sign.
Most investors are familiar with this advice, of course, but it’s important to keep in mind, especially when doing things like opening an investment account, or transferring investments …read more »
Every Wednesday, we publish our “Investor Toolkit” series on TSI Network. Whether you’re a new or experienced investor, these weekly updates are designed to give you specific advice on successful investing, including tax shelters. Each Investor Toolkit update gives you a fundamental piece of investment strategy, and shows you how you can put it into practice right away.
Tip of …read more »
Registered education savings plans (RESPs) are one of the best ways to save for a child’s post-secondary education. RESPs are a government-assisted form of savings, similar to registered retirement savings plans (RRSPs).
How RESPs work
There are no annual limits for contributions to RESPs. However, RESPs have a lifetime limit (from birth to age 17) per child of $50,000. Only the first …read more »
HOME CAPITAL GROUP INC. $38 (Toronto symbol HCG; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 34.5 million; Market cap: $1.3 billion; SI Rating: Extra risk) is the parent company of Home Trust Company, a federally regulated trust company that specializes in residential first mortgages to small business owners, the self-employed and others who don’t meet the stricter criteria of larger, …read more »
Home Capital is a leader in its field of first mortgage lending to Canadian borrowers who do not meet the lending requirements of major banks. However, Home Capital’s conservative lending practices have let it avoid the subprime mortgage problems that have hurt similar lenders in the United States. For example, as part of the company’s assessment process, its employees personally …read more »
