BMO'S Tip of the Day

The Pak Banker - - Front Page -


To mark Fi­nan­cial Lit­er­acy Month, BMO Fi­nan­cial Group is re­leas­ing a se­ries of fi­nan­cial tips throughout Novem­ber. As part of BMO's com­mit­ment to 'Mak­ing Money Make Sense', the tips are de­signed to help in­di­vid­u­als and fam­i­lies save and man­age their day-to-day fi­nances more ef­fec­tively. BMO's Tip of the Day: Con­sider in­vest­ing in a Reg­is­tered Re­tire­ment Sav­ings Plan (RRSP) and tak­ing ad­van­tage of tax in­cen­tives when sav­ing for re­tire­ment.An RRSP is a reg­is­tered plan that al­lows you to save for re­tire­ment in a tax­ef­fi­cient man­ner.

Within an RRSP, port­fo­lio in­vestors can hold a va­ri­ety of in­vest­ments in­clud­ing guar­an­teed in­vest­ment cer­tifi­cates (GICs), mu­tual funds, ex­changed traded funds (ETFs), bonds and eq­ui­ties. The money you in­vest within an RRSP grows tax free.

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