you are viewing a single comment's thread
view the rest of the comments
[–] 2 points 2 years ago

Yeah, in that case we have two vehicles: TFSA which is a tax free growth account (similar to 401k), and an RRSP, which is a tax deferred growth account (offsets your taxes now, withdrawals taxed as income later, no tax on gains).

Young people should be contributing to TFSA then RRSP, depending on life goals/events. CPP withdrawals are automatic unless self employed.

  • source
  • parent