Non-registered investments are also ideal for investments outside of your RRSP and RRIF.  A non-registered plan (commonly referred to as investment accounts) enables investors to invest an unlimited amount of money anywhere in the world.

They are not tax shelters but offer the following benefits:

• No contribution or withdrawal limits
  
• Potentially higher returns relative to those of a bank account (potentially lower returns than those of a registered plan, where returns compound tax-free)
  
• Collateral value (it can be used as collateral)

Non-registered plans may be for investors who:

• Have already accumulated a significant assets inside their registered plans;
  
• Are approaching the age at which they will begin withdrawing from the plan;
  
• Expect to be in a higher tax bracket when withdrawing funds than when the RRSP deduction was taken.

It's important that investors personal situation/portfolio is reviewed in order to determine how much of their assets should be in registered plans and what portion should be in open accounts.