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Other People’s Money Ltd.
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Achieve Your Financial Goals Through Our Investment Plans

RESP Registered Education Savings Plan

What is an RESP?

It’s short for Registered Education Savings Plan, and it’s a smart savings tool.

You can open an RESP for your child, your niece, your grandson, or any loved one, really. As the child grows, you put money away in the RESP. Then, when it’s time for them to pursue a post-secondary education and their career or dreams, they won’t have to worry about whether or not they can afford it.


The best part? There’s no tax on the earnings while in the plan and the government puts in education savings grants and incentives too. In short, an RESP can grow quickly, just like that amazing kid in your life.

TFSA Tax-free Savings Accounts

Tax-free Savings Account

A Tax-Free Savings Account (TFSA) is a tax-advantaged account that helps you save for both short-term and long-term financial goals.

The features of a TFSA include:

  • Tax-free - Investment income and capital gains earned in a TFSA are not taxed, even when you withdraw money from the account.
  • Eligible investments - A TFSA can hold a combination of eligible investments, such as stocks, bonds, managed portfolios, mutual funds, Guaranteed Investment Certificates (GICs), and cash.
  • Contribution limit - The maximum amount you can contribute is $6,000 annually.
  • Unused contribution room - You can carry forward the unused contribution amount to future years.
  • Impact of eligibility on government benefits - Income earned and withdrawals made from a TFSA does not affect your eligibility for federal tax credits or income-tested benefits such as the Canada Child Tax Benefit, Old Age Security (OAS), or the Guaranteed Income Supplement (GIS).
  • Estate considerations - You can set up the account’s assets to transfer directly to your spouse or common-law partner upon your death, as long as he or she is named beneficiary on your TFSA.


We can help

At Other People's Money Ltd. we can help you achieve your financial goals. Contact us, your advisor, to talk about a financial strategy that makes sense for you.

What Is a Registered Retirement Savings Plan (RRSP)?

A Registered Retirement Savings Plan (RRSP) is a retirement savings and investing vehicle for employees and the self-employed in Canada. Pre-tax money is placed into an RRSP and grows tax-free until withdrawal, at which time it is taxed at the marginal rate. Registered Retirement Savings Plans have many features in common with 401(k) plans in the United States, but also some key differences.

The growth of an RRSP is determined by its contents. Simply having money in an RRSP is not a guarantee that you may retire comfortably; however, it is a guarantee that the investments will compound without being taxed, as long as the funds are not withdrawn

What is Real Estate Investment Trust (REIT)

A closed-end investment company that owns assets related to real estate such as buildings, land and real estate securities. REITs sell on the major stock market exchanges just like common stock.

Life Insurance Policies Term Life

Life Insurance Policies Term Life

Life Insurance Policies Term Life

Disability Plan

Life Insurance Policies Term Life

Life Insurance Policies Term Life

Critical Illness Plan

Life Insurance Policies Term Life

Critical Illness Plan

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