Saving for Goals: Short vs Long Term

Short Term:

Use low-risk accounts (savings, GICs).

Long Term:

Use equities and tax-efficient accounts for growth.

Example:

FHSA for home down payment (short-medium goal), RRSP for retirement (long term).

FAQs:

Should I refinance my mortgage if rates drop?

Possibly — consider penalties and total cost; we can run a scenario for you.