💰Maximize savings by spending less than you earn and making lifestyle changes.
📈Invest the difference to grow your wealth over time, using online investment platforms like Mumu.
🏦Optimize RRSP contributions for tax benefits and take advantage of employer RSP matching programs.
How can I save more money?
—Make basic lifestyle changes, like downsizing accommodation and reducing expenses, to spend less than you earn.
How do I start investing in Canada?
—Sign up with online investment platforms like Mumu, which allow you to start investing with as little as $50 or $100.
What is an RRSP?
—An RRSP is a registered retirement savings plan that offers tax benefits, allowing you to save and invest for retirement.
How can I take advantage of employer RSP matching?
—Find out if your employer offers RSP matching and contribute enough to maximize the employer's contribution.
How can I make the most of my investments?
—Diversify your portfolio, consider long-term growth options, and seek professional advice if needed.
00:00Building wealth in Canada is possible for anyone with the right strategy.
02:59Maximize savings by spending less than you earn, making lifestyle changes, and reducing expenses.
06:50Invest the difference to grow your wealth, using online investment platforms like Mumu.
09:28Optimize RRSP contributions to take advantage of tax benefits and employer matching.
