Protection is the foundation, while savings build the future. That’s why we help Ontario families understand and use registered accounts to reach goals like retirement savings, education and an emergency fund.
Retirement savings in Ontario: make your money work for you
Registered plans like the RRSP, TFSA and RESP come with valuable tax advantages, but it isn’t always clear which to use first or how they fit together. As a result, we’ll help you set priorities, build a realistic savings habit and connect your savings plan to your protection plan.
Planning can also include your estate — making sure your beneficiaries, coverage and accounts line up with your wishes.
Is it right for you?
- You want to start saving for retirement
- You have children and want to save for their education
- You’re unsure whether an RRSP or TFSA makes more sense
- You want to coordinate savings with your insurance and estate plans
- You’d like a regular, automatic savings plan
Accounts we can help you understand
RRSP
You can generally deduct contributions from your taxable income, and your growth stays tax-deferred until you withdraw it — a core tool for retirement savings.
TFSA
Growth and withdrawals are tax-free. Also, you can put withdrawn amounts back in a later year, so it works for retirement, emergencies or big goals.
RESP
Save for a child’s education and receive the Canada Education Savings Grant — 20% on the first $2,500 contributed each year, up to $500 per year.
Good to know
- The Canada Revenue Agency sets contribution limits and rules, and these can change each year.
- Only appropriately licensed and registered representatives can offer savings and investment products, so ask us which products we can offer.
- However, investments aren’t guaranteed, their values change frequently and past performance may not repeat.
- Finally, this information is general and isn’t personal tax or legal advice.
Let’s talk about your family’s plan
First, book a no-obligation needs review. Then we’ll look at what you have, what you need, and the options that fit your budget — in plain language.