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Hosted by Becky Armstrong and Ryan Chin, Eyes On Your Money is a podcast focused on managing your finances.
"In this month’s podcast, Ryan and Becky introduce listeners to the world of Registered Savings Plans and their related tax benefits. If you are ready to start saving, this is the episode for you.
The three main take aways from this episode:
1) Just get started. Don’t worry about not having large deposits. It is important just to get going on a savings plan.
2) If you need help, talk with a financial advisor. Find one you trust as they can help you document your goals and plans.
3) Register with CRA for a My CRA account. You can find out how much contribution room you have for each plan.
Helpful links:
Setting up your account with CRA: https://www.canada.ca/en/revenue-agency/services/e-services/cra-login-services/cra-user-password-help-faqs/registration-process-access-cra-login-services.html
RRSP information: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/registered-retirement-savings-plan-rrsp.html
The Tax-Free Savings Account: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account.html
The Tax-Free First Home Savings Account: https://www.canada.ca/en/department-finance/news/2022/08/design-of-the-tax-free-first-home-savings-account.html
What is the Home Buyers' Plan (HBP)? https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan.html
Lifelong Learning Plan (LLP): https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4112/lifelong-learning-plan.html
"
Eyes on your Money with Ryan and Becky
Hosted by Becky Armstrong and Ryan Chin, Eyes On Your Money is a podcast focused on managing your finances.