If you are like most Canadians, chances are you could use some help when it comes to saving for your retirement. When used to its full advantage, a Registered Retirement Savings Plan (RRSP) can be a powerful tool that can save you money on your annual tax return while helping your savings grow. RRSPs can work well if you contribute while you are in a higher tax bracket ( while you are working) and withdraw when in a lower tax bracket ( when you retire) . For some Canadians, a Tax Free Savings Account (TFSA) may be more beneficial.
‘Non-Registered Account (Canada)’ A type of investment account that allows Canadian citizens to save money for the long term. Non-registered accounts only tax the capital gains realized inside the account at 50% of the account holder’s top marginal tax rate.
Purchasing a home is one of the largest investments a family will make. Working with a Manulife Bank Consultant on a referral basis from Deborah Bullock and Associated gives you the opportunity to investigate opening up a Manulife One account. This strategy makes a lot of sense if you want to pay debt faster and save on the total interest you pay in the meantime
High interest, no fee banking , personal and business, TFSAs accounts are available through Manulife Bank.
About Manulife Bank
Manulife Bank is a Schedule I federally chartered bank and a wholly-owned subsidiary of The Manufacturers Life Insurance Company. Established in 1993, it was the first federally regulated bank opened by an insurance company in Canada. Manulife Bank was created to support the sale of the parent’s core products and assist financial advisors in providing fully integrated financial plans to their clients.
Leveraging the Internet and cost-effective telephone banking technologies, Manulife Bank provides its customers access to their bank accounts 24-hours a day, seven days a week.