Two of Canada’s major banks are reporting strong demand for the just-launched First Home Savings Account from young Canadians saving for a down payment.
Fixed maturities on bonds and guaranteed investment certificates , or equities in the depths of a market lull, could pose a problem.First, the risk-free return from tax savings make a FHSA a good investment even if it stays in a high interest savings account - especially if those tax savings are reinvested.
RBC is offering FHSAs on its Direct Investing platform for do-it-yourself investors, which includes GICs, high interest savings accounts, mutual funds, exchange traded funds , stocks and bonds.
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Freeland proposes First Home Savings Account to help Canadians enter the housing marketSpeaking after meeting with constituents in Toronto who want to buy a home, Freeland suggests the First Home Savings Account as a tool to assist people in entering the market. Subscribe now to read the latest news in your city and across Canada.
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Freeland proposes First Home Savings Account to help people enter the housing marketSpeaking after meeting with constituents in Toronto who want to buy a home, Freeland said the First Home Savings Account is just one tool to help people get into the market.
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