TORONTO, Feb. 2 /CNW/ -
WHAT: Today's market conditions have made Canadians' investment
decisions more challenging. This has led many to ask the question
of whether they should continue making regular contributions to
their RRSP or whether they should try to include the new Tax Free
Savings account (TFSA) into their investment strategy. On top of
all this, it can be difficult to manoeuvre through potentially
confusing messages. A recent poll by BMO found that 70% of
Canadians said that financial institutions need to do a better job
of helping them understand their personal finances.
WHY: While both are savings vehicles that allow customers to have their
investments grow tax-free, RRSPs and TFSAs have different
purposes, and the decision of where to put one's money will depend
on your specific objectives and needs.
WHO: BMO experts are available to discuss these and other investment
strategies to help make it easier for Canadians to understand
their financial options and choose a solution that works for them.
Our experts can answer questions such as:
- What are some of the key differences between an RRSP and TFSA?
- What are the after-tax advantages of the RRSP and TFSA?
- Why might an RRSP be a better investment strategy for someone
looking for a long-term solution, and a TFSA a more suitable
solution for someone looking for a short-term fix?
For further information:
For further information: To arrange an interview, contact: Martha
McInnis, Toronto, Martha.firstname.lastname@example.org (416) 867-3996; Lucie Gosselin,
Montreal, email@example.com, (514) 877-1101; Laurie Grant, Vancouver,
firstname.lastname@example.org, (604) 665-7596; Internet: www.bmo.com