Accounts

If you want to make your money work for you, then you have to make sure it’s in the right account. Some accounts are for retirement, some are for short-term savings, some have tax advantages. Sound confusing? It’s actually not. We swear. Let us show you the way.

What is a TFSA & How Does It Work?

By Andrew Goldman

16 min read

A TFSA is about the most versatile account ever devised for Canadians who don't like paying taxes. Read on for a primer on everything you need to know to open one and start investing.

What is an RRSP & How Does It Work?

By Andrew Goldman

11 min read

An RRSP happens to be the most important account for every Canadian who hopes to build a nice little retirement nest egg. Read on to learn everything you need to know open one and start investing.

Chequing vs Savings Account

By Luisa Rollenhagen

5 min read

What's the difference between a savings and chequing account — we compare them both and let you in on the pros and cons of each.

RESP Guide: What it is & How it Works

By Andrew Goldman and Luisa Rollenhagen

10 min read

An RESP is an investment account designed to help you save for a child's education.

What is a Corporate Account?

By Andrew Goldman

3 min read

It's the answer to a question as old as the CRA. Find out what a corporate account is and why you might use one.

What's a LIRA?

By Andrew Goldman

2 min read

It's an account that lets you roll over money from a pension account after you leave your job.

Wealthsimple is investing on autopilot.

Get Started

Other resources

TFSA Calculator

Our free TFSA calculator will help you understand how much your TFSA could be worth and how much tax you could save. Get started by telling us about your current TFSA contributions.

RRSP Calculator

Our free RRSP calculator will help you can contribute to an RRSP and what it could be worth. Get started by telling us about your current retirement savings.

Learn more about accounts

See all

What is a TFSA & How Does It Work?

By Andrew Goldman

16 min read

A TFSA is about the most versatile account ever devised for Canadians who don't like paying taxes. Read on for a primer on everything you need to know to open one and start investing.

TFSA Investment Options & Strategy

By Andrew Goldman

9 min read

Options on how to invest your TFSA savings plus the information you need to hopefully create a winning TFSA investing strategy.

RESP Guide: What it is & How it Works

By Andrew Goldman and Luisa Rollenhagen

10 min read

An RESP is an investment account designed to help you save for a child's education.

Converting an RRSP to RRIF

By Dennis Hammer

4 min read

Want to maximize your retirement savings? Convert your RRSP to RRIF to continually grow your money and defer your taxes as long as possible.

What is a Self Directed RRSP?

By Andrew Goldman

6 min read

Just about everything you'll need to know in order to become the master your own Self Directed RRSP or get someone else to. "

Chequing vs Savings Account

By Luisa Rollenhagen

5 min read

What's the difference between a savings and chequing account — we compare them both and let you in on the pros and cons of each.