Let’s take another look at this RRSP myth and more. Read on.
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3) The RRSP will give the same long-term result as TFSA: Technically true, but not clearly understood and, consequently, not usually true in real life.are saved nor deferred with an RRSP deposit. And the TFSA or RRSP result is identical only if the initial RRSP deposit is far greater than the TFSA, and there is no change of tax bracket.Article content
The RRSP looks like $20,000 but it is only $10,000 of B’s investment plus a $10,000 deposit on account of future taxes. It is also only worth $10,000 to B as that would be their net proceeds on withdrawal after the CRA gets its share. Any investment is only worth what it can be liquidated for after tax.Article content
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Sorry, folks, there's no free money with RRSPs despite what you've been toldLet’s take another look at this RRSP myth and more. Read on.
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Sorry, folks, there's no free money with RRSPs despite what you've been toldLet’s take another look at this RRSP myth and more. Read on.
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Tune up your RRSPs with a few helpful tweaksThree more RRSP tips to improve your financial outlook
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The best long-haul RRSP investments from three veteran money managersUnlike non-registered investment accounts or TFSAs, the ability to defer taxation to retirement through an RRSP provides an incentive to invest over several decades
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This financial coach says RRSP season is a big gimmickRRSP season isn’t so much about retirement planning as it is about getting a tax break by contributing to an RRSP before the deadline, says Anita Bruinsma in this Q&A with Rob Carrick
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