Tax-free means more savings

When you invest in a Tax-Free Savings Account (TFSA) you can save more and reach your goals faster. Because of the flexibility in a TFSA, most Canadians can benefit from having an account. Talk to your advisor to see if a TFSA can help you achieve your goals.

At Equitable Life, we know your time is valuable.

At Equitable, we know your time is valuable. Our commitment is to ensure that you have all the information about your individual investment and insurance policy information that you need. We also know that privacy and online security are important to you. That’s why our online client site, Equitable Client Access® requires two levels of user validation, so you can confidently connect to your policy details.

You can start planning and saving for your retirement at any age

Many of us know we should start early so our money has a longer time to grow. With the costs of buying a home, raising kids (and paying for their education), it may be hard to get going, let alone know where to begin.

The Tax-Free Savings Account can be a misunderstood savings tool

Considered by some to be a short-term investment, many of us do not value its long-term savings potential. If you’re in your 20’s, you have time on your side and are well positioned to make (or exceed) a million dollars of tax- free savings by retirement. If you’re getting a late start with investing, don’t worry. Individuals in their 30’s, 40’s and 50’s can still accumulate significant tax-free savings by the time they’re ready to retire.

Investment Savings and Distributions Calculator

Cathy is considering retirement and wants to know if her current savings will allow for annual trips to Italy to visit her daughter. Should Cathy retire now, or should she postpone her retirement date?

November is Financial Literacy Month

During the month of November, financial services organizations throughout Canada will be participating in Financial Literacy month.

Don't Delay Your Savings

Lecie wants to have a girls’ vacation in Vegas and plans to divert her savings into a vacation account for the next two years. Waiting to begin a savings plan is no big deal. She can make it up later. Right?

What is a segregated fund?

I will be honest, when I first started investing my money I had never heard of a segregated fund. Mutual funds, stocks, and bonds yes, but no mention of segregated funds. It was not until my friend purchased a segregated fund that I learned more about them and what they could do for me.

If you’re like most people, the dollars you have for savings are not unlimited

If you’re like most people, the dollars you have for savings are not unlimited. That means you have some decisions to make, including whether it makes more sense to pay down your mortgage quickly or invest in an RSP. It’s true that reducing your mortgage quickly makes a lot of sense, but you’ll also need a significant nest egg if you want to retire in comfort.

Home Budget Calculator

Abbey and Ben enjoy being with friends and family. They are always ready to hit the town and have some fun.

How to choose between an RSP and a TFSA

For years Canadians have utilized Retirement Savings Plans (RSPs) as the primary investment vehicle for retirement savings. With the introduction of Tax-Free Savings Account (TFSA), there has been great debate over where to invest: RSP or TFSA? Although the two account types share some common traits, there are some key differences.

Net Worth Calculator

Maggie wants to retire from work and start her own small business. Painting is her true passion in life.

Does a payout annuity fit your retirement plan?

A payout annuity is a unique product that provides regular guaranteed income in retirement. It’s the ideal solution if you don’t have a regular income from a company pension plan, or if you would like to supplement other retirement income streams, such as Old Age Security (OAS) or Canada/Quebec Pension Plan.

A segregated fund may just be the way to go

If you, like me are looking for a little security, a segregated fund may just be the way to go. Segregated funds are similar to mutual funds in that your investment is pooled with other investors’ assets and invested for you. A fund manager is responsible for selecting the investments that make up the fund. Where segregated funds differ is in the guarantee. Yes, I said guarantee.

Does it really matter which investment option I choose or from where?

We know it can be hard to put money away each month. Making the jump from thinking to doing is the first step in achieving your financial goal. The second step, which can be just as daunting, is to decide which type of investment option supports your financial strategy.

When building an investment portfolio, it is important to make sure you are comfortable with the level of risk.

There are certain things in life that can send us on an emotional rollercoaster. Money can be one of them. We all work hard for our paycheque and the thought of losing, even a little bit, can send even the most stoic of us into a tailspin. So, when it comes to investing, it is no wonder we vow to never invest again when markets drop a few points.

Benefits of segregated funds in a Tax-Free Savings Account

A Tax-free Savings Account (TFSA) can be a valuable addition to your overall investment strategy. Each year residents of Canada who are at least 18 years of age are allowed to invest up to $7,000* into their TFSA, in addition to any previously unused contribution room. This savings option allows you to grow your savings without ever paying tax on the growth within your account. This is different from traditional savings accounts where you are required to pay tax on the growth earned by your investment.

RRSP Loan Calculator

Omar and Sarah want to catch up on contributing to their RRSP after the COVID lockdown. How much can they afford to contribute?

Retirement Planner Calculator

Victor is self-employed and is looking ahead to retirement. What will his retirement look like and when can he retire?

Taxable vs. Tax Advantaged Investments Calculator

Desirée wants to know whether she should contribute to a TFSA, RSP or non-registered account. How much of a difference is there between tax-deferred, taxable and tax-free investment option?

Cool Million Calculator

Gloria and Nigel just launched their small business and have dreams of becoming millionaires. What will it take for them to join the millionaire’s club?

Savings Calculator

Amina is going to get in the habit of saving by putting $25 a month into her RRSP. Her friends don’t think it is worth the effort. Does it matter how much you contribute?

Tax Free Savings Account Comparison Calculator

Fei Hong and Yu Yan want to set up an emergency fund that will provide some growth and allow them to take out money when they need it. Does such a thing exist? If so, what is the catch?

How Long Will My Retirement Savings Last Calculator

Elijah welcomed a new baby to his family and needs to reduce the amount of money he is saving for retirement. Is he still going to be able to retire at age 60 like he planned, or will he need to extend his working years until age 65?

RRIF Payment Calculator

Amesh just celebrated his 71st birthday. He is looking for a product that provides continued growth in a tax-sheltered environment. What should he do with his existing Registered Retirement Savings Plan?

Case Study - Jane

Jane wants to contribute $5,000 to her First Home Savings Account (FHSA) during the first 60 days of 2024 and deduct it from her 2023 income. The problem is that FHSA doesn’t have a first 60-day contribution period like a Registered Retirement Savings Plan (RRSP).

Case Study - Fred and Diana

Fred and Diana are navigating divorce proceedings. As part of the settlement, Diana is asking for the proceeds from Fred’s First Home Savings Account (FHSA). The problem is, if Fred cashes in his FHSA, it become fully taxable to him.

Case Study - Darryl

Darryl wants to contribute $8,000 to his new First Home Savings Account (FHSA) and decides he wants to transfer the amount from his Registered Retirement Savings Plan (RRSP). Darryl worries that transferring the money will affect his RRSP contribution room.

Case Study - Joshin

Joshin wants to maximize his $40,000 First Home Savings Account (FHSA) contribution room as soon as possible. However, he doesn’t have any money available to contribute this year.

Case Study - Mary

Mary is in her late 50s and is a long-time renter. She doesn’t know if she will be able to ever buy her first home but decides to open a First Home Savings Account (FHSA), just in case one day her situation changes.