Invest in your RRSP or TFSA?

With the RRSP deadline of March 1st, 2018 looming, now is the time to consider topping up your Registered Retirement Savings Plan (RRSP). What about a Tax-Free Savings Account (TFSA)? Could that be a better investment option for your money? There are many factors to consider when choosing which investment account to choose. Each has multiple benefits, you just need to determine which one is the best move for you and your financial goals.

Striking that proper balance between your TFSA and RRSP does take some time, as your financial goals and future will help dictate which direction is best for you. Reinvesting your tax return into your RRSP will help boost your retirement savings even faster; your TFSA will give you access to money if you find you need it to help pay for some unexpected expenses. Talking to your financial advisor can help determine which approach is best for you. Call us today to set up an appointment and we can review your current plan.