RRSPs are for retirement. RESPs are for education. And now FHSAs are for home buying. Launched in 2023, FHSAs help you accumulate a down payment with tax-free growth, tax-free withdrawals to buy your first home, and tax-deductible contributions.
To be a first-time home buyer and qualify to open an FHSA, you can’t have owned a home this year or in any of the previous four years. You must also be age 19 (in BC) to 71 and a Canadian resident with a valid social insurance number (SIN).
Our wealth advisors can help invest your FHSA to maximize growth so you can achieve your savings goals faster. We’re here to help.
Save for the lifestyle you want in retirement, with tax advantages.
Build long-term financial security for a person with disabilities.
Start spending savings in retirement by turning your RRSP into a RRIF.
Save for short-term and long-term expenses, with no tax on withdrawals.
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