Investment Accounts

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Investment Accounts

Type in the name of the company you are going to have an interview with.

RESP

How ambitious are you?

strategy

Maximize tax free compounding growth

Only beneficial for students

Withdraw at anytime tax

Parent/Guardian contribute

Government grants an additional 20% of contribution

Lifetime limit of $50,000

What are your long-term goals ?


Type them in.

Penalty for over contributing

Service cost is charged to open an account

Income tax for non education expenses

Withdrawal tax

What are your short-term goals ?


Type them in.

No tax until withdrawal

Potentially receive annual grants

Tax Free compoundings

RRSP

Contribute plenty when closer to retirement

make withdrawals anytime

Deposit money considering limits

Limits

Contribute 18% of previous years income

Or

Maximum contribution of $27,230

Intended for retirement savings

How would you describe yourself?


Type in a short description.

Converted or closed once you are 71

Pay tax upon withdrawal

What are your hobbies?


What do you like to do in your free time? What was the last film you saw or the last book you read? Think of the activities that relax you the most. Fill in several hobbies.

Tax Sheltered (I.e. Investments grow tax free)

Tax-Relief by deducting contributions

Non Registered

Withdraw however much you want from contributions

Can deposit however muchyou want

Limit

cons

If capital gains increase, then taxes will also increase

Investments often fluctuate, meaning they may possibly go down

Taxable at only 50% of the account holder’s marginal tax rate.

Help you to continue investing, if registered accounts are maxed out

No contribution limit

Offer tax advantages

Flexible with consistent liquidity

TFSA

Research the company

You should find and learn as much as you can about the company where you are having an interview.

The interviewer will want to see what you know about them and why you chose the company.

Doing your homework will show that you are really interested.

Strategy

Best to open an account at 18, and begin to invest

Ideal for young adults

Invest in it for short term goals (ex. saving for a car)

Function

Withdraw anytime, any ammount

Must be 18

Contribute money considering limits

Contribution Limits

Annual limit of $6000

Cons

Individual Accounts only

What kind of innovations does this company have?


Type in several examples.

Penalties for over contributions

What is the company's turnover for last year?

No spousal plan

What products does this company have?


Type in several examples.

No tax refund

What is the size of this company?

Pros

Why do you want to work for this company?


Think of what you can do for them, not of what they can do for you.

Once retired the investments aren't classified as income

Unused room is carried onto future years

Withdrawal tax is free

Investment income is tax free