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Classic question: RRSP, RESP or TFSA??

on Sat, 10/05/2013 - 11:35
*Updated: Nov 28, 2018 (TFSA annual contribution room increasing to $6,000 a year from 2019)
We all have limited resources... Lots of people asking the same question over and over again, among retirement savings, education saving for kids and tax free savings, which is the better way to save?
The answer is: it depends. I know, I know, you hate this answer. However, you need to understand everyone has a different situation so there is not ONE right answer to everybody.
Here is a list of things help you to decide which way is best for you:
- if you have lots of RRSP room and have no

Alternative ways to fund education

on Sat, 02/18/2012 - 13:52

Got quite a few of questions whether to contribute into RRSP or TFSA all the time (classic question), but then I am getting more questions on whether or not to contribute into RESP as well (another classic question), of course, there is no one answer fits all because every family has a different situation.

I have met a few families lately, they have either missed the opportunity to contribute into RESP, or they do not need to do a RESP plan (they will get free tuition, NICE!!), as much as I think getting free money from the government is the better way to go, that wouldn't work for these

Every story has 2 sides

on Tue, 01/31/2012 - 10:04

It is a very interesting morning… 680news featured on 2 pieces of news regarding Holiday spending… One says: RBC survey found 31 per cent of Canadians spent more than intended during the holidays; the other one says: majority of Canadians managed to keep their holiday spending in check


The 2 pieces of news are actually came from the same source, the same survey by RBC, which the press release titled "RBC Poll finds most Canadians stayed on budget over the holidays". As you can see, the same story can play different angles, all depends on how the report/editor wants to present it.