TFSAs offer tax-free growth, while RRSPs offer tax-deferral and a present-day rebate. So where should clients who are keen to save put their money first?
TFSAs offer tax-free growth, while RRSPs offer tax-deferral and a present-day rebate. So where should clients who are keen to save put their money first?
As a general rule, those earning over $50,000 should prioritize RRSPs, reports MoneySense. But for those earning between $35,000 and $50,000, the difference between an RRSP and a TFSA are negligible.
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