Which is Better; RRSP or TFSA plan?
A recent report found that 32% of Canadians do not know the difference between TFSAs and RRSPs. I guess – advisors aren’t doing a great job helping investors make the most out of these plans, through the various stages in their lives. In a showdown between TFSAs and RRSPs, Canadians have a clear favourite: over half say they’d prefer to put their money in a TFSA, according to a report by Toronto-based Bank of Montreal (BMO). March 1, 2019 is the deadline for any RRSP contributions to count towards the 2018 tax year. Need help deciding the Best one for U? Let us know!! #RRSP#TFSA #diversification #futureplanning #incometax.