Now that we know the basics of how RRSP’s (Registered Retirement Savings Plans) and TFSA’s (Tax Free Savings Accounts) work from a tax and investment standpoint, there is an important decision to make prior to selecting any investments. Should you contribute to an RRSP or TFSA?
This decision will come down to three factors:
I outline how these three factors come into play when deciding whether to use the RRSP or the TFSA to invest your money in the video below:
Have you started saving for retirement? Which accounts are you using to save and invest?
If you have any questions or comments, please leave them below.