I would use a savings account for savings as withdrawing money from an IRA will have
penalties under various circumstances (more than contributions, Roth IRA less than 5 years old, more than $ 10k for a down payment).
The Act lists a variety of proceedings in respect of which there is no limitation period (section 16): proceedings for declarations; proceedings to enforce court orders and other orders that are enforceable in the same way as court orders; proceedings
under the Family Law Act relating to support; proceedings to enforce arbitration awards; proceedings by persons in possession of collateral to redeem or realize on it; proceedings arising from sexual assault in certain
circumstances; proceedings to recover fines, taxes and
penalties owing to the Crown; proceedings relating to claims by the Crown (or by a delivery agent
under social welfare legislation) in
various circumstances; proceedings to recover money owing in respect of certain student loans, awards and grants.