Accrued Income

Accured income is money that has been earned but not yet received.

An example would be if you have a guaranteed investment certificate (GIC) then the interest is building and is taxed on an annual basis. You may not get paid out on this investment for five years yet you are building the investment income.

Talk to your financial planner or accountant about some of the different products you could buy including segregated funds and mutual funds. Ask questions to determine the investment method that works best for you.