By Sheila Walkington, Co-Founder and CFO of Money Coaches Canada
Perhaps you’re trying to save for retirement? Set aside funds for a rainy day? Pay down debt, including that hefty mortgage? And of course, pursue other important goals that make life worth living! Whew!
You could simply keep your money in a plain old bank savings account. However, there are much better options, some with significant growth and tax-savings potential. If you have extra cash or are committed to saving money, you may be asking:
- Are RSPs still a good investment?
- Should you be paying down your mortgage first?
- Or are Tax-Free Savings Accounts (TFSAs) a better savings strategy?
In general, investing in RSPs is a good idea, although there is no one-size-fits-all answer.
A lot has happened over the past decade since we launched Money Coaches Canada in 2010. When Sheila and I started working together our initial desire was a simple one. We wanted to offer our clients truly independent and meaningful financial advice so they could use their money to fulfill their financial needs and to live their lives to the fullest. We were part of a wave crying out for more transparency and accountability in the financial-services industry, and we are so proud to be part of the solution.
I think it’s safe to say that 2020 is a year none of us will forget. And even though we are optimistically making our way forward, the uncomfortable truth has settled in. Recovery from this 
It’s been almost six months since phrases like; shelter-in-place, work from home, physical distancing, and social bubbles, have become part of the daily conversation. Wearing a mask in public started out feeling odd, but for most of us it’s become routine. But our ability to adapt doesn’t mean that anything about the COVID-19 pandemic has been easy.
