Helpful article by a friend and fellow blogger who is also new to the blogosphere! Say hi, everyone, and do tell us which of the two you prefer! 🙂 xo
TFSA vs RRSP
Money Cents Write up
No one likes being constrained-especially when it comes to money. I think we all agree we like to freely enjoy it, save it and grow it as we choose. When the TFSA was first introduced in 2009, this gave Canadians a second option for tax free savings and is now head to head with the old RRSP.
Let’s look deeper into this….
The TFSA is an excellent tool that encourages Canadians above the age of 18 to save money by providing the unique benefit of investing money tax free! It also offers investors to hold a vast array of investment products to suit any risk appetite including Cash, GIC’s, Bonds, ETF’s, Mutual Funds or Stocks. Unlike an RRSP, contributions made to your TFSA cannot be used to reduce your taxable income-but you do have access to your funds with no tax implications upon…
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