Fund Investment
Investment project
The primary purpose of buying life insurance is to leave a tax-free income for designated beneficiaries after death to pay for end-of-life expenses, mortgages, children's education, etc.(Equivalent to a tax avoidance method for huge asset transfers). Life insurance can be divided into term life insurance and whole life insurance。
RESP
A Registered Education Savings Plan (RESP) is a special savings account for parents who want to save for their child's education after high school. An RESP is an effective way to save for your child or grandchild's postsecondary education. Parents, grandparents and friends can contribute to RESP at any time – up to $50,000 per child over their lifetime. These contributions are not tax deductible, but any investment income earned within the plan will not be taxed until withdrawn.
RRSP
A Registered Retirement Savings Plan (RRSP) is a savings plan, registered with the Canadian federal government that you can contribute to for retirement purposes. When you contribute money to a RRSP, your funds are "tax-advantaged", meaning that they're exempt from being taxed in the year you make the contribution.
A TFSA (Tax-Free Savings Account) is a registered savings plan that lets you grow and withdraw your money, tax-free, making it a great option when saving for short and long-term goals.
High Interest Saving Account
A high-interest savings account simply offers a more attractive interest rate than other savings accounts an institution might offer. The interest rate applies to the entire balance in your account and is calculated daily but paid monthly.
Annuity (exclusively for insurance companies)
An annuity is a contract between you and an insurance company in which you make a lump-sum payment or series of payments and, in return, receive regular disbursements, beginning either immediately or at some point in the future.