I'm 23 and have been pondering now about my retirement, now would be the time to really get things going, I'm a complete noob on the topic hence why I'm looking for some help. Anyway I'm from Canada don't know if that matters but I've been even thinking about making an account and putting a bit of money in it every week but what would be best is there certain accounts that have really high interest for that sole purpose? I went to the bank and asked one of the clerks about this and she really confused the shit out of me.

Another thing to I'll be coming into a lot of property in the country (a ton of land) eventually, so what could be done with that, I was thinking of picking out an expensive tree and planting a whole bunch of  it now and in 40 years chop it all down and sell the wood, I dunno how big of a profit that would make me but it's a thought. I have a bit of money tucked away now and it's just sitting there in one of my savings accounts.

So what should I do to ensure I'm financially set for the future?

Give it to badgenome... he'll keep your money in a super secret hole and because of the pressure in that hole in 30 years time it will turn it into a diamond...

Yep, hatmoza is actually useful for some things.

You could start by opening a tax-free savings account through your bank. You can contribute up to $5000 per year into your TFSA, which you can then use to invest in things like bonds, GICs, mutual funds, etc.  Any income earned on your investments will not be taxed.

Where abouts is this land? And unfortunately there's not much you can really do. Mutual Funds aren't the best of investments as over a long period of time, they have a very low average growth. Best you can really do is start saving into RSPs and use your tax free savings account. If the economy moves up, which it won't, you can invest in GICs as you can't lose money on them and they're interest rates are locked and depending which ones you grab, progress higher throughout the years. For now just stick with tax free savings and RSPs. Sit on your land as it'll be worth more money in about 20 years, though if that land is near Toronto real estate is skyrocketing so that land will be worth money if it's within 30 kilometers of the city limits.

Best choice is to invest as much into your TFSA today, and if you max out your contributions put the remainder into an RRSP; if you don't hit your maximum RRSP contribution the remainder rolls over, while your TFSA unused contribution disappears. As for what to invest in, few people beat the index over an extended period of time so split your investment across several different computer managed index funds.

Land is a good choice for when the current banking system that we are using will implode. You won't be able to eat your savings account then, but you will be able to eat you potatoes and cows. Keep it, or sell it and buy better land (more productive).

Seriously, the current fractional banking system will change during your life time (and probably not toward the end of it either) and there will be a lot of shit going with the money that we are using today. I believe this change is coming, that's why I am trying to invest into land. But you are young and smart. Read up on this stuff and make your choice.

Do you get high interest off a tax free savings account?

Depends on what you invest in ...

A TFSA is just a registered investment account that you can put up to $5000 per year into. While it can't be a margin account, you can pretty much invest in any financial instrument. The benefit of a TFSA is, while you paid income tax on the money you put into it, you don't pay capital gains tax on what you earned.

do what i did, take your money out of the bank and buy Apple stock, analysts say it will top 1650.00 a share by 2015, hopefully that happens, but the stock is still undervalued, putting your money in the bank sucks anyway, live a little.