TFSA or RRSP : Which one works better?

As we learned before, both a TFSA and an RRSP let your savings grow tax sheltered. So how are they different?

  • Generally, you will come out ahead with a TFSA if you are in a higher tax bracket when you make withdrawals
  • Generally, you will come out ahead with an RRSP if you are in a higher tax bracket when you make contributions

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