A: The first step in determining whether a Registered Retirement Savings Plan (RRSP) or a Tax-Free Savings Account (TFSA) is the best vehicle for saving for retirement is to anticipate how your tax ...

2024 data gave us a pretty rough look at how Canadians are doing with their Tax-Free Savings Accounts (TFSAs). For ages 40 to 44, the average TFSA balance was around $17,000, which isn’t great for Gen ...

The average RRSP balance for ages 35–44 is about $49k, much higher than TFSA averages. ETFs offer lower fees, intraday liquidity, and fewer tax issues than mutual funds. ZGRO is a simple, low-cost all ...

Are your TFSA and RRSP pulling their weight at 65? Here’s how to turn average balances into steady, tax-efficient income with two monthly payers. TFSAs give tax-free withdrawals that don’t affect ...

Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) are incredibly important for 65-year-old Canadians. These help stretch retirement income further while reducing the tax ...

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The tax-free withdrawals of a TFSA offer more flexibility, but don’t offer a tax deduction like contributions to an RRSP. The type of account you choose will depend on your savings goals. Many or all ...

Discover how a spousal RRSP can help you lower taxes now and balance retirement income later — ideal if one spouse earns much more than the other. Many or all of the products on this page are from ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of ...

Aaron Broverman is the Managing Editor of Forbes Advisor Canada. He has almost 20 years of experience writing in the personal finance space for outlets such as Bankrate, Bankrate Canada, ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of ...