Investment & Insurance Planning | Planet Insurance Ontario, Canada

Registered Education Savings Plan (RESP)

A Registered Education Savings Plan (RESP) is a powerful tool for saving for your child’s post-secondary education. Contributions grow tax-free, and with the Canada Education Savings Grant (CESG), the Government of Canada matches 20% of your annual contributions, up to $500 per year per child. Additionally, low-income families may qualify for the Canada Learning Bond (CLB), further boosting your savings. These grants make it easier to build a substantial education fund for your child's future.

Registered Retirement Savings Plan (RRSP)

A Registered Retirement Savings Plan (RRSP) is designed to help you save for retirement while offering significant tax benefits. Contributions to an RRSP are tax-deductible, which can lower your taxable income for the year. Although RRSPs don’t receive direct government grants, the tax deferral on investment growth allows your funds to compound more effectively, helping you build a substantial retirement nest egg.

First Home Savings Account (FHSA)

The First Home Savings Account (FHSA) is an excellent tool for first-time homebuyers. This account combines the tax benefits of an RRSP with the flexibility of a TFSA, offering tax-deductible contributions and tax-free withdrawals for your home purchase. While the FHSA doesn’t include direct government grants, the tax advantages make it a powerful way to save for your first home.

Tax-Free Savings Account (TFSA)

A Tax-Free Savings Account (TFSA) provides the flexibility to grow your investments without paying taxes on the income or withdrawals. While there are no direct government grants associated with TFSAs, the ability to grow your investments tax-free makes it an incredibly versatile tool for achieving a wide range of financial goals, from short-term savings to long-term investment growth.

Segregated Funds

Segregated Funds offer the potential for investment growth with the added security of insurance protection. These funds guarantee a portion of your principal investment, providing peace of mind while allowing your money to grow. Although Segregated Funds don’t come with government grants, the combination of insurance benefits and investment growth potential makes them a valuable addition to a diversified portfolio.