RRSP vs. TFSA Explained - Marcel LeBlanc Financial Planner

Here are the differences between the 2 most important savings plans in Canada.

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hey guys positive note here certified
financial planner
yeah an answer a question I get asked
quite a bit by nine doesn't lines
should I put my money into an RRSP
or a tax-free savings account now if
they don't act the same the Al
it's not just a regular savings account
it's not the only thing you can do with
that plan
I call in tax-free investment accounts
you can invest your money in at all your
gains
tax-free forever now the difference
between both plans are pretty
straightforward
in general the money put into an earthy
will say he taxes the year you put them
on the ISP
if you're in a 40 percent tax bracket
and got a thousand dollars a year as the
there yet or two dollars back in taxes
or say blunder dollars in taxes
but when he take the money out do not
pay taxes
same as any regular income that he
tax-free savings account TSA
you don't get a tax break up with the
money but all withdrawal
don't are taxable even the money you've
made on your mind control
the game he just is not taxable that
other both plans work
not the RSP is the author is
tax planning retirement planning for
most people who are these really high
tax bracket
it so many baseball he was in taxes
today
and inspect the rock retire on a salary
that will
only put him in a 20 percent tax bracket
is a 20 percent saying from the point
was that you're saving the day the
twenty percent yields that
pay later plus all the money you said
update on taxes
and your money accumulated without being
taxed on your game
year after year an RFP that's what's the
most important retirement plan
so far in Canada but that he ever say
this close second
for everybody who's not so their speed
internet high iraqi
the tax-free investment of the next best
thing by in some circumstances
that three dozen in town makes more
sense than the IRS
he the one situation that comes to my
mind
is it you expect your tax bracket to go
up in the future
young professionals unemployed
individuals who are reinvesting in their
companies or
expect their salaries to increase
significantly good
keep their RRSP room to accumulate to
put more money in their
when they're in the high tax bracket and
with the money that everything they can
to date
until their their income growth to be in
a higher tax bracket
the next one is so employed individuals
that don't pay themselves a lot
on paper so they're not a high tax
bracket
ron is a lot of money on tax rate and
eyes P and they're probably in the same
tax bracket now they're going to be
later
so no savings as far as the differential
now
versus tomorrow that actually think that
now is a more flexible in town to get
your withdrawal in taxable
so to some people that actually say they
don't make more sense
then to fund their retirement so if you
have any questions about this
any other investments or insurance
questions bit lopsided on RCA
and remember my advice is free and it
always will be thanks
case