Interested in making your own investment decisions? At Meridian, we’ve partnered with Qtrade Direct Investing™ to offer a do-it-yourself approach for your investments. Make the most of low trading fees and the freedom to buy and sell stocks, bonds, ETFs, and mutual funds with confidence.
Plus, get up to $2,000 from Qtrade Directing Investing® when you open a new online brokerage account by March 4, 2024, and deposit or transfer in at least $5,000.5 The more you invest, the more you’ll receive. Learn more here.
RRSPs and TFSAs: save for the future you want
RRSPs and TFSAs both offer tax advantages to help you save and invest for the future. So, how do you know where to contribute first? To make the most of your money, it’s important to understand the differences between RRSPs and TFSAs.
Registered Retirement Savings Plan (RRSP)
Save for retirement by building your RRSP with a variety of investments, including GICs, mutual funds, and more. The contributions you make to an RRSP are tax deductible, and earnings are tax-sheltered until you start making withdrawals later in life.
Tax Free Savings Account (TFSA)
A TFSA is tax-efficient way to save and invest for your future, a vacation, an emergency fund, or anything else. Grow your money and withdraw funds, tax free. This year, you can contribute up to $7,000, the TFSA dollar limit for 2024. The lifetime TFSA limit, as of 2024, is $95,000.