The start of the new year also marked the beginning of a new way you can save for the future: the Tax-Free Savings Account.
With this new type of account, you can save up to $5,000 per year and pay no tax on withdrawals or the income earned.
The Tax-Free Savings Account (TFSA) can be used to save for a new car, a new house, a vacation, an education, or just for a rainy day. Withdrawals can be made at any time and for any reason.
Our government also recently extended the deadline to apply for the new Registered Disability Savings Plan to March 2, 2009. If you have any questions or need help applying, please feel free to get in touch with me.
I've included more info about the TFSA and the RDSP below if you're interested.