Make the most of your savings by paying less taxes.
Whether you have newly arrived in Canada or have been here for some time, we all have dreams or goals that we want to achieve. A Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA) are two smart savings and investing options that could help you pay less taxes and make the most of your savings.
Saving with an RRSP
An RRSP (Registered Retirement Savings Plan) is a registered personal savings plan. It is considered one of the most effective ways to save for your retirement and can provide you with important and unique tax advantages.
Investing with a TFSA
A TFSA (Tax-Free Savings Account) is a flexible investment account in which the interest, dividends or capital gains earned are not taxed, even when withdrawn. This tax-free compound growth means that your money grows more quickly.
Financial planning services and investment advice are provided by Royal Mutual Funds Inc. (RMFI). RMFI, RBC Global Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada and The Royal Trust Company are separate corporate entities which are affiliated. RMFI is licensed as a financial services firm in the province of Quebec.
Talk to an RBC® advisor
Pay yourself first by investing regularly in an RRSP or TFSA. An advisor can show you how to invest in your future and still live comfortably today.
- Visit a branch that speaks your language
- Call 1-800-463-3863
- Find a Mobile Financial Planner
Did you know?
You can open an RRSP or TFSA with as little as $100 or set up automatic contributions of $25 or more per month.
