Ms. Loonie Journey, Author at Loonie Journey

Asset Location: How to prioritize contributions between TFSA, RRSP & other accounts

Everyone would love to max out every tax-advantaged account, grow taxable accounts and repay mortgage all at the same time. But cash is limited, so contributions should be prioritized into the right accounts to grow wealth.

February 12, 2022 Investing

You only learn by making (money) mistakes

Reading does not replace hands-on experience. Making investing mistakes is the best way to learn.

February 5, 2022 RRSP

RRSP 101: maximize tax deferral benefits to save you money

The main benefit of the RRSP is that any contributions can be deducted to reduce your taxable income in a given year. This means that you won’t get taxed on the deduction amount and will likely receive a tax refund. If you reinvest the refund amount, you can use your refund to further grow your investment balance.

February 3, 2022 RRSP

RRSP 101: understanding the basics

With RRSP season in full swing this month, it’s important to understand this popular retirement account. In the first of a series of posts, we will cover the basics of the RRSP.

January 30, 2022 Investing / Mortgage / Saving

2022 Goals: Focus on savings, ignore the noise

Many are expecting lower stock market returns in 2022. How should one reposition their portfolios? If you’re in it for the long haul, focus on what you can control and ignore the noise.