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It takes several years, at least! The same rules apply when it comes to saving for retirement... Say you start saving at age 25 and put aside $3,000 a year in a tax-free savings account for ten years–and then you stop saving altogether... Now, let’s say you put off saving until you turn 35 and save $3,000 a year for ten years... If you’re still paying off old debt, making mortgage payments, or needing to save for your children’s education, we’ll help you figure out a way to manage these competing priori

Your investment is protected GICs offer lower interest rates tha... Interest is guaranteed Variable interest rates are good for your investments, but only if they are going up... Customized to meet savings goals GICs offer the opportunity to invest for as few as 30 days, and for as long as 10 years... If you think you may need access to your money for whatever reason, be careful about longer-term GICs, as there are penalties in place for removing them before the term is completed, if it’s allowed at all

Not sure how to make a term deposit work for you? No problem. We’re here to show you how the flexibility of a term deposit can be the right savings tool for your . Pick your term length Term deposits must be locked in for a certain amount of time, but you can pick the term-length that makes the most sense for your needs... Interest will be paid for the duration that the term deposit was held... Make an appointment and we will walk through our savings solutions and see if a term deposit is right for you

For example, if you’ve been eligible for a TFSA since last year and haven’t contributed anything yet, your limit would be $12,500... Example: You’ve contributed the maximum amount to your TFSA every year, including $6000 for 2021... Even though you are just replacing the money you withdrew for tax purposes, you’ve now contributed $9,500 for 2021 – $3,500 over your contribution limit... Securities not traded through a recogniz. Penalties: Look out! The fines for holding non-qualified investments are steep

Alterna - Tips for effectively managing your RRIF withdrawals Tips for effectively managing your RRIF withdrawals By Alterna Team June 07, 2023 Investing Registered Retirement Income Funds (RRIFs) can be a great source of retirement income for many Canadians... We understand that minimizing the tax burden of RRIF withdrawals is essential for many retirees... For example, the Ontario Trillium Benefit and the Ontario Senior Homeowners’ Property Tax Grant exist in Ontario... Schedule a Conversation Share t

Alterna - Unlocking Your Financial Potential While Investing for the Greater Good Unlocking Your Financial Potential While Investing for the Greater Good By Alterna Wealth July 12, 2023 Investing Over the past decade, I’ve witnessed firsthand the transformative power of responsible investing in today’s financial landscape... By i... More Canadians than ever before are looking for trusted advice from certified professionals... Let us help you navigate the world of responsible investing for your portfolio

Alterna - Essential Tactics for Women to Secure Your Financial Future Essential Tactics for Women to Secure Your Financial Future By Alterna Wealth July 31, 2023 Investing Statistically, women outlive men i , which necessitates a well-thought-out financial plan to support them for a longer duration including planning for now, retirement, and wealth transfer to the next generation... By exploring thes... Let’s work hand-in-hand to secure a bright future for all the remarkable women who make up Alterna