Putting some money away for the future is always a sound idea. However, with so many investment opportunities, some of which may require you to pay tax on the investment income earned, which one is the right fit for you and your savings goals today?
Tax Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs) are both available savings tools and can house many of your investments while helping to defer or reduce your tax obligations. But there are a few things to consider…
Watch this video to learn more about both of these savings vehicles, including eligibility, contribution limits, tax considerations and more!
And if you have any questions, please do not hesitate to contact our office.