Investing in one or both depends on your life circumstances
RRSP season is upon us again. As you are planning your contribution, are you unsure about whether to contribute to a registered retirement savings plan (RRSP) or a tax-free savings account (TFSA)? Both are powerful savings vehicles, but which one is right for you?
Keep in mind that one is not necessarily better than the other. Both RRSPs and TFSAs can help fulfill your life goals by helping you benefit from tax-deferred or tax-free growth, respectively.
Oftentimes, both RRSPs and TFSAs can both play an important role in your overall wealth plan. For a convenient summary of the key benefits of RRSPs and TFSAs, click here for our infographic.
Please contact our office today to determine the best saving strategy to meet your unique needs.