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What are the benefits of a tax free account (TFSA)?

The Tax-Free Savings Account is just like an RRSP in one respect and gains compound tax-free while they’re in the plan.

It’s different in two ways: First, there is no tax deduction for putting money into a TFSA, as there is in an RRSP. “With a TFSA, the money invested is after-tax money,” says the advisory. “With an RRSP it’s pre-tax money that you are investing.” Continue Reading

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4 Advices to Help You Quit Sooner

When the work blues hit, retirement seems so far away. But while nothing short of winning the lottery or getting a big inheritance is likely to let you quit tomorrow, there are many things you can do to reach your goals a little faster.

So if you’re looking for ways to accelerate your retirement, here’s how you can move the date of your retirement party up a few years: Continue Reading

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The 45 best ways to grow your money

When we set out to look for the 45 best ways to grow your money, we had a few criteria in mind. We wanted ideas that were widely applicable (so we weren’t interested in specialized tax shelters or tax loopholes that were only open to a favored few). We also wanted ideas that had stood the test of time (so we rejected a lot of flavor-of-the-month notions, such as buying gold futures or loading up on oil stocks). Finally, we wanted our ideas to represent the full span of personal finance, from basic notions to more advanced concepts. Continue Reading

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10 things they won’t tell you about retirement

If you’re like many middle-aged Canadians,you used to think that you would retire at 55. Now you’re hoping for 65. Once you used to smile fondly at the retirement ads that showed laughing grey-haired couples golfing in tropical paradises. Now you have an overwhelming desire to jump out of the sand trap and smack those smug retirees with a nine iron. Continue Reading

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The First Thing You Should Do in 2009

Now that 2008 is behind us, you should focus on how to improve your investing results for 2009 and beyond. In order to get off on the right foot, you’ve got to make sure you have as much in the game as possible. Continue Reading