If you want more income, one of the first places you can explore is real estate investment trusts (REITs). They own portfolios of properties that are diversified geographically and across many tenants. Some are diversified across asset types as well. Most importantly, many REITs pay juicy distributions that can help
Recent data indicate that Canadians are saving more. Statistics Canada reports the Household Savings Rate is currently 5.4%, a 0.4% increase from the previous year. Likewise, a recent BMO Bank of Montreal study found that 48% of Canadians are now investing in tax-free savings accounts, a 23% increase from 2012.
Almost half of all Canadians have opened a tax-free savings account, according to a survey released last week by CIBC. That’s a remarkable take-up considering that TFSAs haven’t even been around for four years. That’s the good news. The bad news is that about half of those people aren’t actively
Finally, the government has come to its senses about the 70,000 letters sent to Canadians who made over-contributions to tax-free savings accounts or transferred them without the proper paperwork. In a statement issued this afternoon, the two ministers responsible for the new tax shelter said they recognized the confusion that
Look. There’s no downside and all kinds of upside to the Tax Free Savings Account. Become a saver, already! Here’s how it works: 1. Set up a Tax Free Savings Account at any Canadian bank you like. 2. Every year, you can put in up to $5000. But $100 is