Search results
Results from the WOW.Com Content Network
The tax treatment of a TFSA is the opposite of a registered retirement savings plan (RRSP). Unregistered accounts are subject to tax and hold after-tax money, the TFSA is described as a tax-free account holding after-tax money, and the RRSP is described as a tax-deferred account holding pre-tax money that will be taxed on withdrawal.
Registered retirement savings plan. A registered retirement savings plan (RRSP) (French: régime enregistré d'épargne-retraite, REER), or retirement savings plan (RSP), is a type of financial account in Canada for holding savings and investment assets. RRSPs have various tax advantages compared to investing outside of tax-preferred accounts.
Individual retirement account. An individual retirement account[1] (IRA) in the United States is a form of pension [2] provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age.
Segregated fund. A segregated fund or seg fund is a type of investment fund administered by Canadian insurance companies in the form of individual, variable life insurance contracts offering certain guarantees to the policyholder such as reimbursement of capital upon death. [1][2] As required by law, these funds are fully segregated from the ...
An individual savings account (ISA; / ˈaɪsə /) is a class of retail investment arrangement available to residents of the United Kingdom. First introduced in 1999, the accounts have favourable tax status. Payments into the account are made from after-tax income, then the account is exempt from income tax and capital gains tax on the ...
Tax-free savings account From an initialism : This is a redirect from an initialism to a related topic, such as the expansion of the initialism. Use {{ R from acronym }} , instead , for abbreviations that are pronounced as words, such as NATO and RADAR.
By example, if a person's assets are distributed between the different classes of accounts (taxable accounts, TFSA, RRSP/RRIF, RESP), they have up to CA$ 3 million in coverage at a particular CIPF member institution. An individual then may also have these accounts at other institutions for further diversification.
Asset location (AL) is a term used in personal finance to refer to how investors distribute their investments across savings vehicles including taxable accounts, tax-exempt accounts (e.g., TFSA, Roth IRA, ISAs, TESSAs), tax-deferred accounts (e.g., Canadian RRSP, American 401(k) and IRAs, British SIPPs, Irish Personal Retirement Savings Accounts (RPSA), and German Riester pensions), trust ...