If you have ETF within an RRSP your money still grows tax-deferred po (capital gains, dividends, interest), meaning you won't pay taxes on the income or capital gains until you withdraw funds from RRSP. A major benefit of holding U.S.-based ETFs within an RRSP is that U.S. dividends are generally not subject to withholding tax due to the tax treaty between Canada and the U.S. A downside of holding U.S.-based ETFs in a TFSA naman is that U.S. dividends are subject to a 15% withholding tax, as the tax treaty doesn’t apply to TFSAs because it is not considered retirement accounts.

Thank you very much po :)

FHSA po is the best account for the purpose of buying your 1st property in Canada. You can use RRSP (HBP) to supplement your FHSA but this will be your second option po. Make sure to open your FHSA before Dec 31 to have the contribution space for this year.

@ Maraming Maraming Salamat po sa info. malaking tulong po

@@KarrenJaneBan you're very welcome po :)

If 1 year palang po kayo dito and a minimum wager po, RRSP may not be the best account for you just yet. Watch my videos po about FHSA and TFSA, they may make more sense to you. You can use your RRSP for HBP when the time comes na ready na kayo bumili ng bahay, nothing to do right now.

yes po. It's ideal to get a personal insurance outside your work insurance while you're still young and healthy. I'm a broker po and can help you find a more affordable option. Emergency funds po should in guaranteed/ cash accounts. :)

Awe salamat po ng marami! I appreciate your feedback 🥰🥰

Hi po. I'll be happy to guide you po in opening your TFSA account. Please message me po on facebook facebook.com/shielacabucol/ to set up appointment. Yung sa successor po I doubled check, we cannot set it up right now. However, we can list him as a beneficiary po in the mean time, and once he is here and has a SIN number, we can change it to a successor. Hope that helps po.

Happy holidays po!! Marami pong different financial institutions/online brokerages outside the traditional bank na pwede niyong iexplore. Hindi lang po kayo limited sa bank :)

RRSP is a registered account po na ginawa ng gobyerno para tulungan tayong makapagipon particularly for our retirement. It has great tax benefits like I discussed in the video but if you withdraw money today, magbabayad ka ng withholding tax plus the money you will take out will get added to your taxable income. Homebuyer’s plan (HBP) is just a program that allows people to withdraw tax-free sa RRSP if you are a first time home buyer. Yes pera mo yang kinuha mo pero sayo parin naman yan kung ibabalik mo sa RRSP, para parin yan sa retirement mo which is the original purpose of RRSP. But If you choose not to repay your HBP withdrawal on schedule, the amount you fail to repay will be added to your taxable income each year. Additionally, you will permanently lose the contribution room for the RRSP withdrawal you made. Hope that helps.

got it. yung ibabayad mo ba sa hbp loan mo kasali nba yan sa rrsp limit mo kung mag start kna magbayad after 2 years? salamat sa reply

@@Christianflores-qt7zj Your HBP repayment po will not affect your RRSP limit and hindi na rin po siya pwedeng ideduct on your income tax return.

thank you very informative

@@Christianflores-qt7zj you're very welcome :)

Happy to see you here! Yes you can withdraw the funds po anytime sa FHSA but it will only be free from tax kung gagamitin niyo yung pera sa pagbili ng first home niyo. If you use it for something else, then it will be taxable po. Watch my video po about TFSA (tax-free savings account) if you want a more flexible account. Hope that helps. :)

100% yes! Kung may asawa po kayo, magbukas kayo parehas so you can maximize your tax savings!! Wala pong minimum holding period ang FHSA unlike homebuyers plan (HBP) ng RRSP, kaya even nagpaplano na kayong bumili ng bahay next year pwedeng pwede niyong itake advantage ang benefits ng FHSA as first time home buyers and sobrang smooth po ng withdrawal from FHSA. I've done it multiple times with my clients. If you open your FHSA before Dec 31 this year, you will get a total of $16k contribution space by next year, that's going to be a lot of tax savings for you!! If you need any assistance, feel free to reach out to me in one of my social accounts in the description.

Yes po you are eligible to open an FHSA as long as you are a first time home buyer. Hindi po related yung eligibility sa income at work. The first thing you could do is open this account para magsimula na kayong magccrrue ng contribution space. Once na back to work na po kayo pwede na kayo maghulog consistently every month.

Thank you khristian! I touched on a little bit about HBP sa part 2 of my RRSP video. If you have any questions ask kalang :D

Awe thank you Khristian 😇😇😇

You got it right! You can start contributing to your RRSP (if it makes sense with your income), but you don't have to use all its tax-deductible benefits every year. You can consult with your accountant and maybe use only SOME of it, so you don't pay more income tax than you need to. You can also use the rest of your contribution later on, like in 2026 as you said, if you're anticipating that your income will be higher-perhaps you're expecting a promotion, planning to take on a 2nd job, or considering selling rental properties, cottages, business assets, or stocks in your non-registered accounts in the next couple of years. RRSP offers this flexibility. Hope it helps.

@@ShieLovesFinance thank you

@@fatimaamor3882 you're very welcome :)

Awe thank you Kuya Mark! And thanks for sharing your thoughts :D

Aray kupo! But Sounds like you did your research po at hindi naniwala sa ganoong paraan! kudos to you! Marami kasing Pilipino ang nahuhulog sa ganitong trap. Separate your insurance and your investments. Registered Accounts should be maximize first before doing any investments in an insurance plan. I will make a video about this topic soon :)

I will get back to you po on the question about the successor to ensure I give you the most accurate answer. For short-term needs po , TFSA. For long-term, RRSP will make some sense if you are earning >$55k annually, if not TFSA is also a powerful vehicle to use for your long-term needs (retirement). Hope that helps

Thank you so much po <3

@@ShieLovesFinance Hi! What if hindi p PR. Ok p din b mg contribute s RRSP or TFSA. Thank you.

@@junagcaoili295 Yes you can open a TFSA as long as you have a SIN number. Sa RRSP naman po is SIN number din and dapat you already filed an income tax return here in Canada to be eligible to open this account.

@@ShieLovesFinance Nkpag file n ko income tax return.Bali more than 2 years n din ako dito. Thank you.

@@junagcaoili295 great that means pwede na rin po kayong magopen ng RRSP as long as nagmemake sense na sya sa income niyo :)

Happy to help po. Please email me at [email protected] to set up an appointment :)

Glad to know you're finding my videos helpful, po! Thank you for the feedback :). I am licensed to serve in all provinces in Canada except Quebec. However, even if you're in Quebec, I’ll still be happy to answer your questions. Please email me po at [email protected] to set up an appointment.

This is on my list po, and I will cover this topic in future videos :D

Will do po! Thank you! I will include those topics in my future videos :)

Thank you po for the feedback! :) Next week po I will publish the part 2 of our RRSP topic :)

Your agent should create a proper investor profile to understand your goals, objectives, and risk tolerance. Increasing your financial education through these types of resources will also help you make informed decisions when planning for your future.

I suggest you reach out po to a Canadian Immigration Consultant! Sila po ang expert pagdating sa ganyan. I'd be happy to refer you to one :)

@@ShieLovesFinance thank u ma'am ok ma'am ok pls refer me po

pls email me at [email protected] so I can share you some details.

Thank you po! Hope it helps :)

ah okay po ano po ung tanong niyo about insurance?

Gsto k lng sana ipacheck muna ung biometric kng valid kc online un e.bgo ako mg proceed

@@bosscarpenter7264 Okay po walang problema. For any private questions po, you can email me at [email protected]

you got it ! :)