A list of financial terms and their meanings.  Comment if you’d like any added or clarified!

• GIC – guaranteed investment certificate, a type of investment product
• HBP – home buyers’ plan: a federal program allowing you to withdraw funds form your RRSP when purchasing a home
• LIRA – locked-in retirement account: when leaving a company prior to retirement, you might convert your company pension plan into a LIRA, accessible only at retirement
• LLP – lifelong learning plan: a federal program allowing you to withdraw funds from your RRSP to pursue post-secondary education
• LRSP – locked-in retirement savings plan: quite similar to LIRA above
• RSP – retirement savings plan: most often refers to an RRSP, but the implied first R is dropped for brevity
• RRSP – registered retirement savings plan: an investment account registered with the federal government offering tax deductibility of contributions, and tax sheltered growth among other benefits