Financial Learning Library
AdviceCafe 101
First Home Savings Account
For many individuals, owning a home is a significant milestone and a cornerstone of financial stability. However, saving for a down payment can be a daunting task, especially for first-time homebuyers.
AdviceCafe 101
Defined Benefit Pension
Defined Benefit (DB) pensions stand as one of the most valuable retirement benefits offered by employers, providing retirees with a reliable and predictable source of income during their golden years.
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Defined Contribution Pension Plan
As Canadians navigate the landscape of retirement planning, one common avenue for securing financial stability in later years is through employer-sponsored pension plans. Among these, the Defined Contribution Pension Plan (DCPP) stands out as a popular option, offering workers a valuable opportunity to save for retirement with contributions from both them and their employers.
AdviceCafe 101
Locked-in Retirement Account (LIRA)
A Locked-In Retirement Account (LIRA) is a financial vehicle designed to hold locked-in pension funds. It’s a type of registered retirement savings account that provides individuals with control over their pension savings while ensuring that these funds remain preserved for retirement.
AdviceCafe 101
Tax-Free Savings Account (TFSA)
In Canada, the Tax-Free Savings Account (TFSA) stands out as a versatile and valuable tool for individuals to save and invest money while enjoying tax advantages.
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Registered Retirement Savings Plan (RRSP)
Planning for retirement is a critical aspect of personal finance, and one tool that Canadians often utilize for this purpose is the Registered Retirement Savings Plan (RRSP).
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Canada Pension Plan (CPP)
The Canada Pension Plan (CPP) stands as a cornerstone of retirement income for millions of Canadians, providing financial support to eligible individuals during their retirement years.
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Old Age Security (OAS)
Old Age Security (OAS) stands as one of Canada’s fundamental social programs, offering financial support to seniors during their retirement years.
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Critical Illness Insurance
Life is unpredictable, and unexpected health challenges can strike at any moment. Critical Illness Insurance offers a safety net to protect your financial wellbeing in the event of a serious illness diagnosis.