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RRSPs vs. TFSAs: Comparing Canada’s 2 main savings plans – Yahoo Finance Canada

There is plenty of debate about whether RRSPs or TFSAs are the best place to park your savings, but financial advisers say if you understand the advantages and disadvantages of each, there is little reason not to use both. “Both the RRSP [registered retirement savings plan] and the tax-free savings account form a very important role in an overall financial plan,” explains Jared Webb, an adviser with Fernhill Financial in Victoria, B.C. “Tax-free savings accounts and RRSPs are simply just tax strategies,” Webb said.

Source: RRSPs vs. TFSAs: Comparing Canada’s 2 main savings plans – Yahoo Finance Canada

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Married, with two young adults, serving God's plan and purpose in my life as as husband, father, Jesus' disciple and servant to God's people.

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