Investing for general wealth building
If your goal is to grow your money over time - whether for future opportunities, lifestyle upgrades, or simply to build financial freedom - then general wealth building is likely at the core of your investment strategy.
Unlike savings for a specific milestone like retirement or a home purchase, wealth building is about maximizing long-term growth while maintaining flexibility. That makes your choice of investment account especially important. The right account can reduce your tax burden, increase your after-tax investment returns, and give you more control of your money along the way.
In Canada, the common accounts used for general investing are:
Tax Free Savings Accounts (TFSAs)
Non-Registered (taxable) accounts
Registered Retirement Savings Plan (RRSP)
Each offers different advantages and trade-offs in terms of accessibility, contribution limits, and tax treatment.
Please contact us if you would like some customized guidance or a second opinion on which accounts may be most suitable to help you build your wealth.
