Market values usually go up and down. But what can you do, when these values drop a lot? Consider staying invested. Here’s why.
There are many different investment, income and retirement options to choose from. Here’s a look at investment plans, accounts and products that can help you with your financial goals.
Registered investment & retirement plans
These government-registered plans and accounts let you grow your savings tax-free under certain terms and conditions.
Registered retirement savings plan (RRSP)
An RRSP can help you save for your retirement. Your contributions into this plan are tax-deductible. And, the amounts within your RRSP are tax-deferred until you make withdrawals or take income.
Tax-free savings account (TFSA)
A TFSA lets you save money for any purpose. Although contributions are not tax-deductible, your investments can grow tax-free and you can make withdrawals at any time without paying tax.
Registered education savings plan (RESP)
An RESP can help you save for a child's post-secondary education or training. Parents, grandparents and friends can contribute to an RESP. Plus, any investment income within the plan is tax-deferred until withdrawals are made.
Registered Retirement Income Fund (RRIF)
A RRIF is like a continuation of your RRSP where your funds are tax-deferred. But unlike an RRSP, a RRIF provides income during your retirement.
Life Income Fund (LIF)
A LIF is like a RRIF, but the funds in the plan come from a pension plan instead of RRSP contributions.
Locked-in Retirement Account (LIRA)
A LIRA is like an RRSP, but the funds in the plan come from a pension plan instead of RRSP contributions. But unlike an RRSP, LIRAs have restrictions.
Investment products & retirement income options
These products and options are great ways to manage your savings and receive an income during retirement.
Mutual funds
A mutual fund combines the money from many investors into a pool. These pools of money are invested in stocks, bonds or other securities. Each pool is managed by a professional investment manager.
Segregated fund contracts
Segregated funds are large pools of money invested in stocks, bonds or other securities. These contracts offer guarantees and some additional benefits, which can help protect your investments.
Guaranteed Interest Products
We offer two types: insurance GICs and trust GICs. They both guarantee the principal and interest, safeguarding you from changes in the market.
Life and term certain annuities
These contracts provide you with periodic payments for either a fixed period of time or for the rest of your life. This can help you meet your financial needs during retirement.
Learn about growing your money
How your investments are taxed
The way your investments are taxed is as important to your bottom line as their rate of return.
How to reduce investment risk
There’s no predicting how well your investments will perform. Will they take a hit during tough economic times? Will they give you steady returns? In the face of market uncertainty, the best investment strategy is to diversify your portfolio. Here’s how diversification can help.
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