Investors' enthusiasm for US technology giants sent stocks higher Wednesday, snapping a two-day slide after a benign inflation report cemented expectations that the Federal Reserve will continue to cut interest rates.
U.S. stocks, bonds, and the dollar experienced modest movements as traders await key inflation data for insights into the Federal Reserve's next rate decision.
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US stocks retreated on Monday, pausing after a record-setting rally.
The S&P 500 and Nasdaq Composite climbed to new records on Friday, buoyed by better-than-expected November jobs data.
RRSPs offer valuable opportunities for tax planning and retirement savings, but early withdrawals can lead to significant tax consequences. Programs like the Home Buyers’ Plan and Lifelong Learning Plan allow tax-free withdrawals under certain conditions, while Spousal RRSPs can help couples reduce their tax burden and optimize savings. However, understanding rules like the three-year attribution rule is essential to make the most of these tools. Consulting a financial advisor can help you navigate these strategies and secure a stable financial future.
This article explains the benefits and rules of Tax-Free Savings Accounts (TFSAs), covering contribution limits, tax-free growth, and strategies for maximizing savings. It also offers advice on optimizing TFSAs through smart investments and the use of tools like Home Equity Lines of Credit (HELOCs).
The sooner you start saving, the more you can benefit from compound interest. The earlier you begin, the longer your money has to grow.
The S&P 500 edged up 0.05% on Tuesday to close at a record 6,049.88.
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