Goal
Whatever your savings goal is, you should explore savings solutions that are tailored to your investment portfolio and parameters.
Duration
The maturity date of your savings may vary substantially depending on your short-term plans. E.g.: travel, emergency fund, etc.
Risk tolerance
If you have zero risk tolerance, this is the perfect investment to allow you to safely put money aside.
Types of savings
Some investment vehicles offer high returns, while others grow your money slowly but surely. What type of investment is best suited for you?
- RRSP
- TFSA
- Annuity products
- RRIF
- LIF
- LIRA
Advantages
These investments will benefit you by being either tax sheltered or high yield or producing tax-deductible interest, among other advantages.
- Tax-free savings
- Registered retirement income
- Life income
- Locked-in retirement fund
- Disability savings
Listening to your representative
Depending on your goals and budget, many savings vehicles may be available. They have many advantages:
- Setting up an emergency fund
- Easy access to your money
- Safe investment
- Money put aside
Moreover, it is essential to update your financial goals on a regular basis, in order to reassess your savings or investment needs. As your life changes, I will be available to identify opportunities and grow your money more significantly.