
Choosing Between a Tax-Free Savings Account and a Registered Retirement Savings Plan
Saving for the future is important, and though income levels may not always make it easy, it is a prudent move. Two common savings accounts available in Canada are the Registered Retirement Savings Plan (RRSP) and the Tax Free Savings Account (TFSA). To understand how these plans work, Immigrant Muse asked Brenda Akins, Associate Portfolio Manage, Kozak Financial Group, CIBC Private Wealth, and here are her responses.