Sow Good Seeds

7 Savings Accounts You Must Have in Canada Do you know that 45% of Americans and Canadians live paycheck to paycheck and have less than $1,000 saved in the bank? Also, one in a third of Canadians has no retirement savings before the age of 35. Why do you need these 7 savings accounts? It's not only because you can earn extra money, but also because you should have different accounts for different goals. These 7 savings accounts, it's a wise way to manage money toward your brilliant future. 7 accounts:  Chequing Account HISA -    High-Interest Savings Account  GRRSP - Group Registered Retirement Savings Plan  RESP   -    Registered Education Savings Plan  TFSA -    Tax-Free Savings Account  FHSA -    First Home Saving Account   RRSP -    Registered Retirement Savings Plan  Which top 5 bank accounts are you using now? My personal Chequing Account is CIBC. 1. Chequing Account  I use a CIBC ...

  How to Retire Early At The Age Of 31? Before your plan to retire early, you need to know the 5 major money mindsets: It is impossible to retire early on a fixed salary alone. Inflation is an invisible killer that takes away your wealth. You must learn to invest and manage your money. Invest(buy) in assets, not liabilities. Never spend more than you make. No matter your age, learn to invest in yourself first always, this is the best investment in the world.                                                                                Recommend a book of life financial management, called: Quit Like A Millionaire Hear the author's true stories about early retired life  »  # 1   #2   #3 How did the author of Quit Like A Million...

Send money abroad in a fast and cheaper way with EQ  in Canada. What is EQ Bank? Equitable Bank (EQ) is a Canadian physical bank headquartered in Toronto, Ontario, with a history of more than 45 years. EQ Bank is a subsidiary of Equitable Bank, which is a federally regulated bank that manages more than $42 billion in assets. EQ is the first online bank in Canada to complete digitization. During the non-promotional period, EQ Bank is still one of the banks with the highest interest rates in Canada.  Interest rates will change from time to time, go to the official website to check the latest deposit interest rates. 💛GOOD NEWS! Announcing 2% interest. EQ bank is excited to announce an increased everyday interest rate! Effective 2025, the Savings Plus Account, Joint Savings Plus Account, TFSA, RRSP, and FHSA now come with 3.00% interest. Annual interest; calculated daily, paid monthly. I am earning 20 times more interest on my savings account compared to 0.05% on the physical s...

Largest online stock exchange in Canada Questrade Questrade is a self-directed trading platform that lets you create your own portfolio at a lower cost than traditional financial institutions. It is currently the largest online stock exchange in Canada. Questrade was established in 1999 and is headquartered in Toronto.  Is Questrade safe? Questrade is a registered broker of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF).  Your account with Questrade is protected indeed, which means your account is protected with $10 million in insurance if this company goes bankrupt. The Questrade account opening process is simple, which is very suitable for investors who live in Canada or study abroad to open an account to invest in a variety of investment products including Canadian and U.S. stocks,  ETFs, GICs, IPOs, bonds, golds, etc.  Got 4.40% rates in a 1-year GIC in EQ bank. Learn more» Why you shouldn't put...

  The Power of TFSA What is TFSA? The full name of TFSA is Tax-Free Savings Account. TFSA is a tax-preferential account set up by the Canadian government for every eligible person. Your TFSA savings can be withdrawn from your account at any time, for any reason, and all withdrawals are tax-free. And if you want, you can put back the amount you withdraw into your TFSA. However, you have to do it the following year so it will not impact your contribution room. You can put various products in the account, such as: Cash Guaranteed Investment Certificates (GICs) Mutual Fund Exchange-traded funds (ETFs) Stocks(U.S and Canadian and International) Real Estate Investment Trusts (REITs) Bonds Options Gold and silver If you are still using a TFSA account as a “savings account” PLEASE DO NOT. Why do I say that I need to manage my account properly? Because most people think that TFSA is just a regular savings account, deposit cash or only deposit products with low-interest rates. If you use TF...

What is Passive income? Must Watch the Video! This 10-minute story will change your life. Book link: The Parable of the Pipeline Passive Income is a long-term investment, just like seeds, when we sow good seeds, we need to be wise with handling the seeds in a good environment and give them time to grow stronger, eventually, we'll reap an abundant harvest. The seeds will non-stop bear more fruits than you could ever imagine. Passive Income is income that requires minimal labor and time to earn and maintain. Active Income is physically trading most of your time and labor for money. A lot of people think that trading your time for money is the only way to make money; however, this is actually not the most leveraged way to go if you wish to have a better quality of life in the future. Even if you work 40 hours a week for 52 weeks the year, the max of income you can possibly make is around 100k-300k, it sounds like very juicy and strong money, but remember that Time is Money, think abou...