TFSAs vs. RRSPs While aregistered retirement savings plan(RRSP) account is specifically for retirement savings, a TFSA can be used to save for anything. The tax-free savings account differs from a registered retirement account in two other main ways: ...
» Understand the difference: RRSPs vs. TFSAs Tax planning A TFSA can be instrumental in your tax planning strategy. For example, in lower-income years, you can invest in a TFSA (when the tax deduction from investing in an RRSP wouldn’t be as large), and you can withdraw TFSA money...