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What are the benefits of a term deposit? Here are just a few great reasons to consider a term deposit for your balanced portfolio... This prov... There is something for everyone. We can help you go through your options to see what term investment makes the most sense for your savings goals... If you’re not sure if a term deposit makes sense for your short and/or long-term goals, we’re here to help. Make an appointment and we will walk through our savings solution and see if a term deposit is right for you

Alterna - Why you should have a TFSA Why you should have a TFSA By Alterna Team February 11, 2022 Investing Many people think a Tax Free Savings Account (TFSA) is mainly for retireme nt savings, but it’s a great tool for both short and long-term savings goals... What is a TFSA? A TFSA is a savings account that offers tax-free growth for funds that can be used for retirement savings or shorter-term needs... Ready to open a TFSA? Book an appointment or come into a branch today! *Dependent on the types

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