“What is an Investment Account?"- Money Monday with Shawna McCrea of Balance Financial

“What is an Investment Account?"- Money Monday with Shawna McCrea of Balance Financial Non-Registered - You must declare investment income (or losses) and interest on your taxes in non-registered accounts even if you don’t withdraw the money.Types of Investment AccountsRRSPS - RRSP accounts help you to save for your retirement years.TFSAs - A Tax-Free Savings Account allows you to save without paying income on your investment earnings.RRIFS - RRIFs allow you to generate income during retirement.RESPS - RESPs can help you pay for a child’s post-secondary education.RDSPs - helps create long-term savings for people eligible for the Disability Tax Credit. As always I wish you financial health. I love helping people cut through the industry noise that can fuel our fears, and create a financial plan based on your specific life goals. First phone consultation is COMPLIMENTARY #InspiringFinancialHealth #FinancialPlanning #CashWealthRiskLegacy