A wide variety of strategies are available for growing wealth. One of the most important is to understand the concept of compounding, this is where returns are reinvested to generate more returns.  Another important concept is dollar-cost averaging, where a regular saving cycle allows you to buy more assets when prices fluctuate down, lowering your overall cost to be invested. 

Common Account Types Include:

• Registered Retirement Savings Plan (RRSP)
• Tax Free Savings Account (TFSA)
• First Home Savings Account (FHSA)
• Non-Registered Investment Account
• Registered Education Savings Plan (RESP)
• Employer-sponsored Group Retirement or Defined Pension Plan
• Whole and Universal Life Insurance
• Segregated Funds
• High Interest Savings Accounts
• Loans or Mortgages