By: Cameron Enns, Amity Trust Investment Advisor
As a young adult, it’s difficult to prioritize between tuition payments due next week, the first home you plan to buy at 25, and don’t forget about the year you plan to spend backpacking across Europe. Being a young adult often feels like you’re trying to accomplish a dozen different goals, with each of them changing by the hour. When attempting to find a balance between everyday purchases and long-term goals, individuals can feel constricted by their current financial situation. Adding on to the uncertainty of which goals to prioritize, the world of finances can be confusing, leaving people with a number of questions. What are the tax implications of my decisions? Should I hold money in an RRSP or TFSA? Which choice will bring me closest to my retirement goals?