31 Jan Should You Put Your Money In A TFSA or RRSP?
When deciding whether to save in an RRSP or a TFSA, the choice is basically to pay the tax now, or pay it later. But there’s more to consider. Here’s something we’d all welcome – you unexpectedly receive a $1,000 work bonus and want to invest it for the future. You have a personal tax-free savings account (TFSA) and a registered retirement savings plan (RRSP) at work. The $1,000 question is: Which account do you invest it in?
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Please keep in mind everyone’s personal situation is different. Be sure to ask Harry or David to find out what the best investment strategy is for you.