These two registered ultra-profitable savings plans allow you build your savings tax-free. Here’s an overview of their advantages and differences. Talk to your advisor. We’ll make every effort to guide you.
TFSA: What’s your dream?
Finally, a savings plan that lets you grow! With a TFSA, you earn tax-free savings you can use to realize your dreams, at any stage in life, such as:
- Renovate your house
- Buy a car
- Start a business
RRSP: Plan ahead for retirement
We still thank its inventor! An RRSP lets you build your retirement savings tax-free and reduce your taxable income at the same time. For example, we advise this if you want to:
- Set aside money for retirement.
- Buy or build your first home.
- Finance your studies.
However, there are some exceptions. In some cases, a TFSA may be more advantageous than an RRSP for retirement savings. You can also use an RRSP to buy a house, and you can strategically combine the two plans. It can get a little complex, but your UNI advisor is an expert in the field. Why not meet with us?