Canadian MoneySaver Blog
Mar 29, 2023 Maximizing Your Savings: Why Contributing to Your Registered Retirement Savings Plan (RRSP) Isn't Enough, Don't Forget About Your Tax-Free Savings Account (TFSA)
Saving for your future (including retirement or any large purchases) is an important financial goal which requires discipline and includes tax strategies. Two of the most popular ways to save for retirement in Canada are the Registered Retirement Savings Plan (RRSP) and the Tax-Free Savings Account (TFSA). Popularity among Canadians for RRSP is higher given that it is a great way to reduce taxable income and save for retirement, while TFSAs often take a back seat. While each has their advantages and limitations, both can be used to maximize savings and compound tax benefits
Mar 16, 2023 Women And Work: Five Approaches To Making Money
How do you make money? In 2021, I asked 53 accomplished women around the world this question.
Reading articles about the future of work, you get the impression that things have changed enormously in recent years and that many or a majority of women are now making their money through terms that didn’t even exist 20 years ago: “side hustle”, “Instagram influencer”, “gig economy” and so on.
But my shocking finding is that 85% of the women I interviewed make money in ways that aren’t any different from how women made money in 2000 or even back in 1980: a third have jobs that pay salaries and bonuses, perhaps with a bit of a twist; about a quarter make money off of direct drive sales (a business model I remember well from selling photocopiers for Xerox in 1986!) and another quarter provide some sort of fee-for-service. A mere 15% have the “many sources” model for money-making… much lower than I would have
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