Keep More of Your Money

RRSPs and TFSAs can help you grow your money in a healthy way. Are you concerned that you might have missed the opportunity to invest in your future? Don't worry, you have up until the year you turn 71 to contribute to your RRSPs and with TFSAs you can contribute at any age (18 years and older).

Start Early. Contribute Regularly.

If you can't afford to contribute a large amount to an RRSP or TFSA at the end of the tax year, don't worry. By starting with just a small monthly contribution now, you'll position yourself to have a more secure future.

  • Consider setting up a savings plan that deducts a monthly or biweekly amount for your paycheque or your account

Why Start Early?

With compounding interest the money you earn from your investment earns even more interest!

  • 20 year old Steve saves $5,000 and doesn't touch the money until he is 65, it may grow to $160,000*
  • 40 year old Steve saves $5,000 and doesn't touch the money until he is 65, it will only grow to $35,000*

Do You Have A Plan?

It's not easy to know where, when, or even how to invest. We can help! At Northern Savings, we are here to guide you in your journey to financial wellness. Get your unique Personal Investment Plan© with one of our financial experts - getting your personalized plan only takes minutes and will help you understand what kind of investor you are. Your plan will include:

  • Net worth
  • Investment risk profile
  • Time horizon
  • Personalized investment recommendations

A Little Short On Cash?

An RRSP or TFSA loan could be the ideal solution! Heard of borrowing to invest? When done right, this smart approach can really boost your savings.

  • Repayment options from 1 to 5 years
  • Delay payments for up to 90 days
  • Repay whole or part of the loan at any time with no penalty
  • Available for amounts between $1,000 - $20,000
    *Assuming interest compounds annually at an interest rate of 8%.