Investing

The low savings rate among Quebec workers motivated the provincial government to introduce legislation requiring all businesses with more than five employees to set up a retirement savings plan.

One of Canada’s top 50 wealthiest people, John McCall MacBain, provides insight into some of the basic financial strategies of a billionaire.

While money contributed to an RRSP is taxable when withdrawn, contributions to a TFSA are made with after-tax dollars and are not subject to any further taxation. As a result, every dollar in a TFSA will be earning tax-free interest.

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Anyone who has followed the economic headlines in recent years has heard plenty of concern being raised over Canada’s burgeoning debt-to-income ratio. For many, the figure is alarming, yet they don’t know what their own debt-to-income ratio actually is. But don’t worry if you find yourself in that majority, since even economists differ on what it really should be.

A plan that provides the mutual fund investor with fixed-dollar payments at specified intervals, usually monthly or quarterly. Reference :