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When to Invest in RRSPs vs when to Invest in TFSAs

An RRSP contribution is most tax advantageous if made during your highest earning years and withdrawn in your lowest earning years.  Otherwise, a TFSA may provide the better investment vehicle from a tax perspective. So when should you invest in RRSP vs. a TFSA? RRSP Registered Retirement Savings Plans (RRSPs) offer an immediate and potentially…


Tax free savings accounts were introduced in 2009 and allowed contributions for each individual over the age of 18 of: $5,000 annually for years 2009 through 2012; $5,500 for years 2013 and 2014; $10,000 for year 2015; $5,500 for year 2016 through 2018; $6,000 for year 2019 through 2022.   The TFSA is now indexed…