ฝัง
- เผยแพร่เมื่อ 10 ก.ค. 2024
- Hey friends! Here is a comprehensive guide to the different registered investing accounts in Canada! In this video, I break down the differences between TFSA, RRSP, FHSA, and RESP accounts in Canada. Whether you're a beginner investor or looking to optimize your investing strategy, this video can help you make informed decisions to maximize your wealth.
Comment below which account you would open! TFSA, RRSP, FHSA or RESP?
0:00 Intro
0:36 Registered vs. Non-Registered Accounts Explained
4:15 RRSP Explained
10:53 TFSA Explained
13:30 FHSA Explained
16:19 RESP Explained
My house-buying journey: • How I Bought My First ...
Mutual funds explained: • Self-Directed Investin...
FHSA Explained: • The Tax-Free First Hom...
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Thanks… this video should get hundred thousands of views overnight. Quality video and information…Please keep bringing the videos. God bless you.
Thank you so much! please share so it can reach who needs it 🥰
I love the fhsa too. Such a great intitiave to ginger first home buyers to buy a house 👏🏾
It really is! The Canadian govt ate that one lil thing 🤭
LOVE THIS! took out my note pad and made an investment plan for next few years :)
Yay I’m so so glad I could help 🤗 thank you for watching!
Update! I opened an FHSA last night and invested in 2 different ETFs. Look at me learning 🥰
@@NickiBluIs omg 🤭 we love a fast learner!
Informative video, and everything delivered in a clear way!! Thank you so much:))
Thank you so much! 🥰 I appreciate the feedback!
Thanks Reni. This is the best explanation I’ve seen so far.
You're very welcome! So glad it was helpful :)
Which account will you be opening? Let me know!
Already have RRSP, taking advantage of employer match. Then I am opening RESP, TFSA and also FHSA. 🎉
@@malenohndimbe1602 I love it 🥳🥳🥳
I opened a TFSA with my employer, we have employee benefits that can be applied to TFSA. It’s my first and I’m so excited. Thank you Reni
Please reno can recommend how to access loan as a Nigeria student already studying in Canada.My niece she's in her second year
@@Legitonlinemoneymedia it’s pretty hard to as an international student. You can look into empower loans
If you wake me up from sleep any day or night and ask me the meaning of TFSA I can tell you the meaning, benefits and how to utilize it. It’s my favorite.
😂😭 if you ever move to Canada you will be WELL equipped!
Would open RRSP and RESP
Love it! Great choices.
Thanks ❤
You’re welcome ☺️
Which bank(traditional or online) or investment platform is the best place to open your TFSA, FHSA and the RRSP?
I’m planning to open the TFSA 😊
There are pros and cons to each but I am a big fan of Wealthsimple and TD direct Investing! If you’re a beginner, Wealthsimple is a good start as they low fees
@@xoReni Thank you. I’ll check it out
With the RRSP.... Whats happens when you are ready to pull the money out during retirement? Do you have to pay additional tax on it. At what age can you start accessing that money?
You pay taxes based on what your marginal tax rate is. So if you take out $50k from your RRSP in one year and that is your only source of income for the year, you’ll be taxed like someone who made $50k.
You can take out the money at any age but to take it out without paying additional withdrawal taxes, you can do it at 65.
@@xoReni I just don't understand why we are taxed on money we were already taxed on to put into the RRSP in the first place.
@@queenhustle83 you can put money into the RRSP before taxes are taken out. You can ask your employer to put it in before you get your paycheque.
But also, if you put in with money you’ve paid taxes on already, remember you get a tax refund that year. If you make $65,000 and decide to put $5000 into the RRSP, you’ll only pay taxes on $60,000. Does that make sense?
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Glory to God, shalom.
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