Choosing Between a Tax-Free Savings Account and a Registered Retirement Savings Plan

Saving for the future is important, and though income levels may not always make it easy, it is a prudent move. Two common savings accounts available in Canada are the Registered Retirement Savings Plan (RRSP) and the Tax Free Savings Account (TFSA). To understand how these plans work, Immigrant Muse asked Brenda Akins, Associate Portfolio Manage, Kozak Financial Group, CIBC Private Wealth, and here are her responses.

Living to Your Full Potential Through Goal Setting

While the future may be full of possibilities, knowing where to start on the path from your current life to the one you envision for yourself can be challenging; this is where goal setting is the most useful. Setting a goal gives you something specific to work towards, which can also help you stay motivated and on track. How do you set goals and what can you do if you can’t seem to achieve your goals? We answer these questions in the article and also provide a simple goal setting template with actionable tasks to help you reach your full potential.

Thriving as a new member in a credit society

A good credit rating is essential for life in Canada, as most lenders want to know how you have handled credit in the past to determine how well you will handle it in the future. Credit card issuers, auto dealerships and mortgage lenders will check your credit score before deciding how much to lend you and at what interest rate. Here are tips to build your credit in Canada and the pitfalls to avoid.

Skills You Need to Become an Entrepreneur

Entrepreneurs are a special kind of people. They see an opportunity and seize it. They are innovative and unafraid to take risks. What skills do they need to succeed? Many people think it only takes a great idea and some determination, but that’s only part of the story. In order to be successful, entrepreneurs need a variety of skills to manage a business effectively.