Whether you’re just starting or have been saving for a while, a little today can go a long way tomorrow.
Investing your money in the right savings options is crucial, no matter what stage of life you’re at. We’ll help you make the right choices to get the most out of your money.
Reaching your saving goals takes time and perserveance. We'll be there with you ever step of the way to start building the habits and strategies that will help you work towards what you're saving for.
Narrator: Want to achieve your financial goals faster?
Description: A trowel scoops a seed into a pile of dirt. The frame splits in half. The left side shows saving $500/month at age 25. The right side is later, $1000/month at age 45.
Narrator: Then why not start saving money today.
Description: A watering can is lifted and waters the seed. The trowel covers the seed.
Narrator: Because, the sooner you start putting it away
Description: A calendar enters the frame, with the same amount invested on the first day of each month.
Narrator: The sooner your money can grow
Description: The split frame with the two seeds returns. On the left side a tree starts to grow as the age increases from 25 to 45. A legal line appears: “$500 invested on the first day of every month over 40 years. 6% annual rate of return, compounded monthly. Segregated fund and/or mutual fund fees will lower your rate of return.”
Narrator: thanks to earnings that can compound over time.
Description: A tree also starts to grow on the right side at age 45. Both sides finish growing at age 65. A legal line appears: “$1000 invested on the first day of every month over 20 years. 6% annual rate of return, compounded monthly. Segregated fund and/or mutual fund fees will lower your rate of return.”
Narrator: Before you know it, you’ll be closer to achieving your goals, than if you’d waited.
Description: The tree on the left side is bountiful, saving $1,000,724. The tree on the right is much smaller, saving $464,351.
Narrator: Save early, save often.
Description: The tree on the right moves out of frame. Text “Save early, save often” appears.
Narrator: Learn more at canadalife.com
Description: Frame fades to reveal “Learn more at canadalife.com” with Canada Life logo and legal line: Canada Life and design are trademarks of The Canada Life Assurance Company.
The Registered retirement savings plan (RRSP) and Tax-free savings account (TFSA) are the bedrock of most Canadians savings, investing and retirement planning. They complement each other well, but they help you achieve your goals in slightly different ways.
A registered education savings plan (RESP) allows you to use tax-free savings and government contributions to help set your children up for success.
Don’t know where to start? Here are some basic guidelines to follow when saving:
Canada Life has been paying claims for 150 years. Work with one of our trusted advisors to help build a plan for you.