Exactly where you specifically should save money for retirement and what vehicle you should use depends on your individual situation. There are however, some general guidelines.
Take advantage of plans that provide tax deferral, to allow you to benefit from the full effect of compound interest.
In Canada, with Registered Retirement Savings Plans (RRSP) you can deduct your contributions (within limits) and the funds grow tax deferred until you withdraw them. Tax Free Savings Accounts (TFSAs), provide for tax deferred growth and no tax on withdrawal. Which of these is "best " for you depends on your individual circumstances.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local Retirement Planner, you could start with a Google search. For example if you search for: retirement planner Halifax or retirement planning Halifax, my name along with several others will come up. You can use the same method to find Retirement Planners in your community.
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Take advantage of plans that provide tax deferral, to allow you to benefit from the full effect of compound interest.
In Canada, with Registered Retirement Savings Plans (RRSP) you can deduct your contributions (within limits) and the funds grow tax deferred until you withdraw them. Tax Free Savings Accounts (TFSAs), provide for tax deferred growth and no tax on withdrawal. Which of these is "best " for you depends on your individual circumstances.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local Retirement Planner, you could start with a Google search. For example if you search for: retirement planner Halifax or retirement planning Halifax, my name along with several others will come up. You can use the same method to find Retirement Planners in your community.