savings

Using a Calculator

7 Best RRSP Calculators in Canada

RRSP stands for “registered retirement savings plan.” The Canadian government initiated this investment vehicle in 1957 to protect Canadians’ investments as they retire from their jobs. RRSPs work by deferring taxes on funds contributed. It is an incentive for Canadians to put more money into their retirement fund. RRSPs are known as “tax-deferred” because the …

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Early Retirement

Strategies for Achieving Early Retirement in Canada

Financial freedom and the ability to call it quits at your job while young may seem unachievable for many Canadians today. But with a committed effort and the right financial strategy, even the unachievable can be doable in these challenging times. ‘How to retire early in Canada’ is one question burning on the lips of …

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Make a Financial Plan

How to Build a Solid Financial Plan to Achieve Your Goals

Human wants are insatiable, and our means to reach them are limited. However, with proper planning and financial management, we can achieve the majority of our goals. Everyone seeks to be financially independent and build significant wealth. And as an Army General draws up tactics to win a war, creating a financial plan can be …

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Canadian Savings Habits: How Much Do People Really Save on Average?

Many Canadians use the average savings in Canada as a yardstick to determine how much they should have saved at their age. While this might be the right step toward financial accountability, it’s not the best way to approach savings. Before the pandemic, Canadians saved just 2-3% of their income, that’s way below the recommended …

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