Money In and Money Out When I worked for the discount brokerage division of a major Canadian bank, I learned that the investment side of banking was referred to as “Money In.” That is, money came into the bank through investments in Guaranteed Investment Certificates (GICs)...
Read MoreYou have saved steadily throughout your career. You have a Defined Contribution Pension Plan from work, a Locked-In Retirement Account from a previous employer pension, a Registered Retirement Savings Plan, and a Tax-Free Savings Account. You have arrived at the point of retirement. How are...
Read MoreAn Introduction to Registered Plans – Part 2 You’ve saved up all that money in your RRSP. Now what? The Registered Retirement Savings Plans, intended to encourage saving for retirement, was introduced by the Government of Canada in 1957. If you have saved inside an RRSP, eventually you...
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