TFSA vs RRSP: Which Savings Vehicle do you prefer?

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

Money header

Millenials & Money

TFSA vs RRSP

Money Cents Write up

download

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…

View original post 141 more words

Advertisements

One thought on “TFSA vs RRSP: Which Savings Vehicle do you prefer?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s