Quotes of the Day

We recommend that you do not trade on less than a 5-minute chart. [2004] - Bill Williams

If you were in the same tax bracket for your whole life, the TFSA and RRSP would be essentially the same. Generally, use a TFSA if you're in a low tax bracket now but expect to earn more in the future. On the other hand, if you're a high-income earner, you'll get a significant benefit from the RRSP's tax deduction. Money withdrawn from TFSAs can be re-contributed the following calendar year with no penalty, whereas money withdrawn from an RRSP is not only taxable, the contribution room is lost forever. This means TFSAs are a great option if you're a young person saving for a medium-term goal, like a down payment on a home, while RRSPs should be earmarked for long-term retirement savings only. [2021] - Dan Bortolotti

One simple but invaluable technique is to listen carefully to the words people use. People tend to use over and over key words that denote the values at the top of their hierarchy. [1989] - Anthony Robbins

Take vitamin and mineral supplements each day. [2004] - Brian Tracy

Pension credit (federally) is applied to your first $2,000 of eligible income. Payments must be on a scheduled, periodic basis. For example, a monthly, quarterly or annual payment from a RRIF would be eligible for the pension credit, but lump-sum withdrawals from an RRSP would not. Non-registered investment income (with the exception of the taxable portion of non-registered annuities) or rental income are also ineligible. The pension credit is applicable to federal tax. When provincial tax credits are also factored in, this is worth approximately $320 to $580 in terms of taxes that you don't have to pay, depending on your province of residence. [2019] - Daryl Diamond