Where should I save, RRSP or TFSA?

by Common Wealth
published July 13, 2021

What account is best for retirement savings?

Common Wealth includes both a Tax-Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP). Both accounts help Canadians save, and both have limits to how much you can contribute each year. But there are important differences between the two in terms of how much you can contribute, when taxes are applied, and how they impact government benefits for modest income earners.

Common Wealth

Common Wealth is on a mission to make it possible for every Canadian to have a financially secure retirement. We provide a quick and easy retirement planning and saving experience, powered by a turnkey digital platform.

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