Guaranteed Interest Account & Locked in Retirement Accounts

Kevin Peyson Financial & Insurance Service Near Me

About GIO, LIRA's

Invest wisely, live confidently.

You've decided to take charge of your financial future. You want to be able to retire fully and do it with the peace of mind that you'll never have to worry about money again. But how do you make sure you're on the right track?

Guaranteed Interest Options (GIO) and Locked-in Retirement Accounts (LIRA) are two ways Canadians can save for retirement. They're similar in that they both offer interest rates that are higher than those offered by a traditional savings account or a TFSA, but they differ in how you can access the money you've saved.

A GIO (Guaranteed Interest Option) means that your money is protected in the event of any market downturns. It's set up so that you can lock in your interest rate and get guaranteed growth with no risk of losing money. A LIRA (Locked-In Retirement Account) means your money will be locked away until retirement. This protects it from being spent on other things, but it also means that you won't be able to access it for years—until you're ready to retire!

At Peyson Insurance, we know that security is critical when it comes to your retirement accounts. That's why we take our time to ensure that your account is set up with the best options possible. It will be easier than ever for you to save money and enjoy the peace of mind that comes with knowing your money is safe.