One of the most common questions out there is whether to invest in a registered retirement savings plan (RRSP) or a tax-free savings account (TFSA). What really is the difference between the two?
In this interactive workshop, we will explore the potential of both RRSPs and TFSAs, what we can hold in these accounts, where you can open an account and when is appropriate to use each one. For the RRSP, we’ll touch on pension plans, the RRSP’s Home Buyer’s Plan and how to calculate your tax return from an RRSP contribution. For the TFSA, we’ll explore how you can get started, the contribution maximums for each year and how you can withdraw without any penalty.