Our RRSP calculator is not financial advice; it is for illustrative purposes only and the results are estimates. The calculator may be a useful tool in helping you estimate how much your RRSP could be worth, but you should understand that it has limitations. For example, the calculator does ...
TFSA or RRSP For a Down Payment? Can it be done? Of course. At any time, you can take money out of your TFSAs and use it toward a purchase, such as a down payment for a house. That said, which is better? This question is a bit complex. In some ways, it depends. In other ...
If you have more than one RRIF account, the mandatory amount has to be taken out of each account. What if I don’t want a RRIF account? No problem – just use the money in your RRSP to purchase an annuity before the end of the year you turn 71 and you will be good to go.←...
Not only will the capital gains and withdrawals you make to purchase your first home be tax free, any contributions you make to this account will be tax-deductible. This is a huge boost for Canadian first time home buyers. For more information, read ourfull FHSA guide. TFSA or RRSP with ...