A savings account is a deposit account held at a bank or other financial institution that provides security and modest interest. Money held in a typical savings account is the next most liquid asset to cash.

A self-employed person is an independent contractor who works on a fee or freelance basis, but is not an employee or employed by a company.

A Registered Retirement Income Fund (RRIF) is a tool that replaces the Registered Retirement Savings Plan (RRSP) at the age of 71.


When you’re a student, it’s not easy to have enough income to cover all your expenses… plus your tuition. Fortunately, there is help! Here is an overview of the different types of student financial aid available.

A trader is a trained professional who trades in financial markets and specializes in financial products. Traders are also commonly referred to as “market operators” or “financial operators”.

A reverse mortgage is a form of borrowing available to retirees in which a loan is secured by the value of their homes.

Retirement occurs when a person who is active in the labor market ceases to work.

A Registered Education Savings Plan (RESP) is a savings plan offered by the Canadian government to parents who wish to invest in their child’s future post-secondary education. RESPs serve as a tax shelter where contributors make contributions to a tax-free account. Contributions to an RESP are made by a parent in a designated child’s name and, once the child enters a post-secondary institution, they begin receiving educational assistance payments (EAPs).