what kind of investing account should i set up?

How to Invest with Purpose

Type of Investment Accounts

If you are just considering getting started investing with Purpose, you may be overwhelmed by the first decision: what type of account do you want? Remember, each type of investment account has different rules that will impact the outcome and time horizons for your investments. One of the advantages of investing with Purpose, is all of our funds are available for all types of registered and non-registered accounts.


Registered Retirement Savings Plan

  • Account used to save for retirement.
  • All contributions are tax deferred until the money is withdrawn.
  • RRSP can hold stocks, bonds, ETFs, mutual funds, GICs and more.


Registered Education Savings Plan

  • Account commonly used by parents/grandparents to save for their children’s post-secondary education in Canada.
  • The Canadian government assists in helping you save for a child’s education.
  • Tax exempt compounding within the account.


Tax-Free Savings Account

  • Tax exempt compounding on any contributions, interest earned, dividends or capital gains.
  • Investors are able to withdraw funds, tax free, at their discretion.
  • An annual contribution limit of $5,500 per year (subject to change by the government).
  • The contributions are not tax deductible and any unused room can be carried forward.

Non-Registered Account

Non-registered accounts only tax the capital gains realized inside the account at 50% of the account holder’s top marginal tax rate. And unlike RRSPs, non-registered accounts have no contribution limits.

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