Protect What Matters Most

A Registered Education Savings Plan (RESP) is one of the most effective ways to prepare financially for your child’s post-secondary education. Parents, guardians, or grandparents can open an RESP and begin contributing toward future costs. When your child graduates from high school, these funds can be used to cover a wide range of education expenses.

• Covers Major Education Costs – Tuition, books, housing, transportation, and supplies.
• Government Support – Federal and provincial grants, such as the Canada Education Savings Grant, add to your contributions.
• Tax Advantages – Savings grow tax-free until they are withdrawn.
• Flexible Investment Options – Choose from different types of assets within the plan.
• Family-Friendly Savings – Accounts can be set up for children or grandchildren.
   

RESPs make it easier to manage the rising cost of higher education by combining personal savings with government incentives. Some provinces, including B.C. and Quebec, also provide additional grants. This makes an RESP a powerful tool to ensure your child can pursue their goals without unnecessary financial pressure.

An RESP is ideal for families who want to plan ahead, reduce the burden of education costs, and create a clear path for their children’s academic success.

A Registered Retirement Savings Plan (RRSP) is one of the most powerful tools available to Canadians for retirement planning. By contributing regularly, you not only reduce your taxable income today but also allow your investments to grow in a tax-deferred environment. The earlier you begin, the greater the potential for long-term growth through the power of compounding.

• Tax Efficiency – Contributions reduce your annual taxable income.
• Tax-Deferred Growth – Investment earnings are sheltered from tax until withdrawal.
• Spousal RRSPs – Allows income splitting and greater flexibility in retirement planning.
• Compounding Wealth – Reinvested earnings accelerate long-term growth.
• Flexible Investment Choices – From self-directed accounts to professionally managed options.
   

With rising living costs and longer life expectancy, preparing for retirement has never been more critical. An RRSP provides both security and flexibility, ensuring you can manage future expenses while maintaining your desired lifestyle. Whether used for retirement income, investment growth, or estate planning, it remains a cornerstone of a well-structured financial strategy.

RRSPs are well-suited for professionals, business owners, and families seeking to maximize tax savings while building long-term wealth. They are especially valuable for those in higher tax brackets who want to reduce current obligations while planning for the future.

 A non-registered investment account, sometimes called an “open” account, is a flexible way to invest outside of government-registered plans like RRSPs and TFSAs. These accounts have no contribution caps or age limits, giving you the freedom to keep investing at any stage of life—even after retirement.

• Unlimited Contributions – Invest any amount without restrictions.
• No Age Barriers – Continue growing your money beyond age 71.
• Flexible Withdrawals – Access your funds whenever you choose.
• Wide Range of Options – Invest in mutual funds, stocks, bonds, segregated funds, and more.
• Tax Efficiency – Take advantage of favorable tax treatment on capital gains and dividends.
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While income earned in a non-registered account is taxable, these accounts provide unmatched flexibility compared to registered plans. They are a strong option for both short-term savings goals and long-term investment strategies, especially if you’ve already maximized RRSP and TFSA contributions.

Non-registered accounts are ideal for:

• Individuals who have reached their RRSP and TFSA limits.
• Investors seeking greater flexibility with contributions and withdrawals.
• Those wanting to continue building wealth later in life without restrictions.
   

A Tax-Free Savings Account (TFSA) is one of the most flexible ways to build wealth in Canada. Any growth inside the account—whether from interest, dividends, or investment gains—remains completely tax-free. This means you keep more of what you earn, allowing your savings to grow faster over time.

One of the biggest advantages of a TFSA is accessibility. You can withdraw funds whenever you need them without penalty, and the contribution room is added back the following year. This makes it a smart choice for both everyday savings and long-term financial planning.

Benefits of a TFSA:

• Tax-free investment growth
• Withdrawals at any time without tax
• Contribution room replenished annually after withdrawals
• Can be used for short-term needs or retirement planning
• Available to Canadians of all income levels
   

At Family First Assurance, we guide you in using your TFSA effectively, so your money works harder while staying aligned with your personal goals.

Flexible, tax-free, and built for your financial success.