A savings plan is a way for people to set aside money over time for future needs or goals. It involves regularly putting money aside from income or expenses to build up savings and achieve financial objectives. Full definition
With limited exceptions, you can only withdraw money that you invest in a college savings plan for qualified higher education expenses without incurring taxes and penalties. (sec.gov)
The same goes for self - employed individuals with extra income after making the maximum contribution to their tax - free savings account or registered retirement savings plan. (lifeoncredit.ca)
You receive the triple benefit of protection, money back plan and guaranteed savings plan for your loved ones. (pnbmetlife.com)