Definition

Locked-in retirement account (LIRA)

An account that holds money moved out of a pension plan. You may use one if you are changing companies... Read Full Definition

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Article

When to review your budget

…job. You start a new education program. You move to a new home. You get married or divorced. You have a baby. You’re approaching retirement. You lose a loved one….

3 min read
Article

Medical and attendant care expenses

…paid for attendant care in your home or someone else’s home, a retirement home, a seniors home or other institution. The attendant must be age 18 or over and can’t…

3 min read
Article

What to ask if you need to borrow money

…Registered Retirement Savings Plan (RRSP), you could get an RRSP loan as a way to contribute. Using an RRSP loan can ensure you contribute to your RRSP before the annual…

8 min read
Article

Strategies to pay down debt

…pay off that debt much faster. If you are considering cutting monthly contributions to your retirement savings or other large investment goals, it may be better to continue with smaller…

8 min read
Article

Saving versus investing

…rate of inflation over longer time periods. This makes investing ideal for long-term goals such as retirement, a home purchase or future income. If you’ve already established a savings habit and…

5 min read
Article

How does compound interest help your money grow?

…rates than fixed-term GICs. Learn more about GICs. Any investment held in a registered account like a Registered Retirement Savings Plan (RRSP) or Tax-Free Savings Account (TFSA) your earnings can…

6 min read
Article

What happens to your RRIF when you die

…a grandchild Summary Why naming a beneficiary for your RRIF matters What happens to the money in your Registered Retirement Income Fund (RRIF) after your death – and the taxes…

4 min read
Article

RRIF fees

There is no set-up fee for most Registered Retirement Income Funds (RRIFs), but you may pay other fees once you open a plan. These fees may include an annual administrative…

2 min read
Article

How RDSPs work

…receive federal and provincial disability benefits. Similar to other types of registered savings plans like the Registered Retirement Savings Plan (RRSP), an RDSP can hold savings or investments, or both….

5 min read
Showing results 101-110 of 127