RRSP vs TFSA: Which Should You Prioritize for Tax Savings?
The RRSP vs TFSA debate is one of the most common questions in Canadian personal finance. Here’s a clear breakdown. RRSP: Tax-Deferred Growth RRSP contributions reduce your taxable income now. You pay tax when you withdraw in retirement — ideally at a lower rate. Best for: Higher-income earners (especially over $50,000/year) who expect to be…