Helps You Save for Your Future
Investing through registered accounts is an effective way to save for your future. Registered accounts such as RRSP, RRIF, and LIRA are designed to help you save for retirement. These accounts have contribution limits that allow you to save a significant amount of money each year. By investing in registered accounts, you can build a solid retirement savings plan that will help you achieve your financial goals.
For example, if you're saving for retirement, a combination of RRSP and TFSA can help you maximize your investment returns. Contributing to your RRSP reduces your taxable income, which can provide you with a tax refund. You can use the tax refund to contribute to your TFSA, which provides tax-free growth. By investing in both accounts, you can reduce your tax burden and maximize your returns, helping you achieve your retirement goals faster.