Top 15 Hacks for Your First Home Savings Account aka The "Renter's RRSP"
Unconventional Wisdom · Ed Rempel
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Show Notes
There is a brand new type of account in Canada coming out in April 2023.
It's called Your First Home Savings Account (FHSA) aka The "Renter's RRSP".
You may know about RRSPs & TFSAs, well this is the third one, and it's worth knowing because for many people, this is going to be the best place to put your money.
It's also the # 1 way to save for a home.
In my latest podcast episode, I give you the top 15 hacks to get the maximum benefit from this new account, so that you can save money not just for a home, but for other purposes as well.
Listen to this podcast & you will be an FHSA expert. Find out:
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What is an FHSA?
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Why were FHSAs created?
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The #1 way to save your down payment.
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Why are FHSAs called the "Renters' RRSP"?
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Why you should open one this year even if you are not yet saving for a home.
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What's the difference between an FHSA and the RRSP Home Buyer's Plan?
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Should you contribute to your FHSA, RRSP or TFSA?
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Should you claim or defer the deduction for your FHSA contribution?
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What's the difference between an FHSA and a virgin? (1st FHSA joke)
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Why FHSAs make a great gift for your spouse or kids.
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FHSA uses for self-employed business owners with a corporation.
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The FHSA hack for the GIS Strategy for retirees.
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FHSA uses for non-residents.
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How to contribute $2,500 more to your FHSA with "FHSA Top-up Strategy".
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What to do if you have no extra cash flow to invest