How to Choose Your Investment Account: A Simple Guide
When it comes to investing, where you invest your money can be just as important as what you invest in.
Choosing the right type of investment account can help you minimize your taxes, grow your wealth more efficiently, and meet your financial goals faster. But with so many options – like RRSPs, TFSAs. FHSAs, non-registered accounts, and employer-sponsored plans – it’s easy to feel overwhelmed.
The key is to start with your goals. Are you saving for retirement? Saving for a down payment? Investing for general long-term growth? Each goal may call for a different account type.
We will break down some common lifecycle goals and which account types might help you to achieve these goals more efficiently.
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