Understanding the Different Investment Accounts in Canada
When it comes to building wealth and securing your financial future, choosing the right investment account is a key first step. Canada offers a variety of investment accounts tailored to different needs—whether you're saving for retirement, your child's education, or a first home.
Hallmark Retirement Accounts
These are the cornerstone accounts for most Canadians, designed to help you save for retirement with significant tax advantages.
Specialized Investment Accounts
Other Investment Accounts
Non-Registered
- No contribution limits
- Taxable earnings
- Full liquidity
- Flexible investments
RRIF
- RRSP conversion
- Retirement income
- Mandatory withdrawals
- Tax-deferred growth
LIRA
- Pension transfers
- Locked until retirement
- Provincial rules apply
- Tax-deferred growth
2025 Updates to Investment Accounts
Several key investment account limits have been updated for 2025:
- TFSA annual contribution limit: $7,000
- RRSP maximum annual contribution: $32,490
- RESP educational assistance payment threshold: $28,881
- FHSA annual contribution limit: $8,000 (unchanged)
- RDSP lifetime contribution limit: $200,000 (unchanged)
Remember that contribution limits are reset annually, and unused contribution room for TFSAs and RRSPs carries forward, potentially allowing for larger contributions in future years.
About Altiora Wealth Management
Based in Fredericton, New Brunswick, Altiora Wealth Management proudly serves clients across Atlantic Canada, including Nova Scotia and Prince Edward Island. We specialize in helping individuals, families, and business owners achieve their financial goals and build a secure future.
Our comprehensive services include retirement planning, investment management, life insurance, health insurance, estate planning, and tax-efficient strategies.
Whether you're maximizing your RRSP and TFSA contributions, protecting your loved ones with customized life insurance policies, or securing your child's future with an RESP, we provide the expertise and personalized guidance you need. With a focus on long-term growth, financial security, and meaningful results, Altiora Wealth is committed to turning today's financial vision into tomorrow's legacy.
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