Compound Growth and the Rule of 72
When you start investing early, your money has more time to grow and benefit from compound growth or interest. You produce returns on the money you put in at the start, as well as the money you add later, plus on all the growth/interest the mutual fund produces over time. This gives you a larger total amount to earn future returns on, leading to even more growth.
Dollar Cost Averaging: What Is It and How Does It Work?
If you are looking for a simple and effective way to invest your money, you may have heard of dollar cost averaging. But what is it exactly and how does it work? Learn the basics of dollar cost averaging, its benefits and drawbacks, and some tips on how to use it.
5 Benefits of Investing in The First Home Savings Account (FHSA)
We are thrilled to introduce the First Home Savings Account (FHSA) now available through Wealthforce.
This new offering aims to provide our clients with a specialized savings account that will help them save for their first home while enjoying various benefits and personalized support from our experienced team.
5 Reasons to buy a TFSA
A tax free savings account (TFSA) is a type of registered account that allows you to save and invest money without paying taxes on the income or growth you earn inside it. Whether you are saving for a short-term goal like a vacation or a long-term goal like retirement, a TFSA can help you achieve your financial objectives faster and easier.