Search

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

Fox, the fresh med school grad, is readying to airlift a young patient out of the small town for emergency heart surgery... Theatrics aside, there’s a lesson here for the RRSP vs... However, when it comes to retirement savings, the tried-and-true registered retirement savings plan (RRSP) should be the default choice for most of the population... That in mind, imagine for a moment that there were no contribution limits for either plan type... Having an appreciation for the technical underpinning should help

Please note that an “attorney” for your financial needs doesn’t have to be a lawyer. The same applies to a POA for personal care, where the attorney manages health-related issues on your behalf... POA for health/personal care... Your attorney may not create a will for you or modify an existing will in any way... Consider engaging the services of professionals like a lawyer and Alterna Wealth Advisor who understand the nuances of POAs and can guide you on creating documents suitable for your circumstances

If you think about it, you spend many years working hard and saving for the future... For your convenience, you may move your RRSP holdings into a RRIF without penalty (e... Please note that RRIFs are vehicles solely for withdrawing assets; you cannot contribute to it like an RRSP... What’s a payout annuity? Another option for drawing down your RRSP assets is the payout annuity... With a life annuity contract, these payments are guaranteed for as long as you live, ensuring an income stream for life... Whether

Tariffs and shifting global trade conditions present unique challenges for Canadian businesses and the broader economy... “Tariffs and their associated economic uncertainty can create signific... Together, we can ensure financial services remain accessible, adaptable, and equitable for Canadians...” A shared vision for Canada’s financial future By uniting innovation, partnerships, and strategic thinking, our financial institutions can continue to serve as a strong foundation for Canada’s economic future

Applying for a Credit Card As with most financial products that lend you access to money, having a good credit score helps. However, a variety of factors such as income, cred. Tip: A low credit score will limit the number of cards you qualify for but that doesn’t mean there aren’t options... Tip: Always compare credit cards and see what one is right for you... When possible, it’s best to avoid using your credit card for cash advances... And when you understand how they work, you can make them work for you

Your Rainy Day Fund For many people, a dedicated savings account isn’t enough to cover life’s unforeseen events. A line of credit provides you peace of mind, and a built-in rainy-day fund for costly emergencies... Schedule a conversation Share to Related Articles How to improve your credit score How much do you know about Credit Cards? How Does a Balance Transfer Work? Get Approved for a Line of Credit or Loan The Difference Between Loans and Lines of Credit Taking control of Your Debt Understandin

According to a study by credit rating agency Equifax, $73,532 is the average debt load for Canadian consumers... Once you’ve done that, you’ll see how much income you have left for other spending – such as eating out, entertainment and shopping... Ask for a lower interest rate... At Alterna, we can help find a solution that will work for your situation and budget... Share to Related Articles How to improve your credit score How much do you know about Credit Cards? How to use your line of credit How Does a

Understanding the factors that contribute to a good credit score and why it is essential is paramount for financial well-being... New Credit Inquiries Every time you apply for new credit, a hard inquiry** is made on your credit report... Be strategic about applying for new credit and only do so when necessary... It allows you to qualify for better financial products and confidently navigate life’s milestones... Each score is independently calculated, and there is no correlation between each company, hence

He helped develop the national Metis arts program for the Vancouver Olympics and founded the Metis Artist Collective... He credits these supports, and program founder, Susan Henry, for helping get his career off the ground... Over the years, they have continued to discuss the gaps and opportunities for Indigenous and arts communities... “Susan and I can call each other and w...” He also highlights the continuing need for support for emerging talent within cities, which are becoming less and less affordable