While money contributed to an RRSP is taxable when withdrawn, contributions to a TFSA are made with after-tax dollars and are not subject to any further taxation.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.

Looking to grow your assets? A ‘core-satellite’ strategy can help you score and still protect the net. If you want to build and grow a core portfolio, think of good piece of music or a great hockey team, says Alexandre Viau.

Investing can be risky, but diversification can help make your portfolio immune to the effects of economic cycles. Investing can be risky. It’s an indisputable fact that any investor must face when deciding what to do with their hard-earned wealth. But Martin Lefebvre says taking smart risks can bring rewards, if you understand what’s involved. “The first thing is to know your own true risk tolerance,” says Mr. Lefebvre, vice-president, chief investment officer and strategist at National Bank Private Banking 1859.


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.

Since it was first launched in 2009, the Tax-Free Savings Account (TFSA) has been an unqualified success. The proof: some 8.2 million Canadians currently hold this investment vehicle, which allows them to grow their savings tax-free and pay no income tax on withdrawals. But if an RRSP and a TFSA provide the same return, would the TFSA always be the better choice for everyone? Here follows a description of the advantages of TFSAs in each of the four cycles of life.