TFSA vs RRSP

Back to learn

TFSA vs RRSP: Which savings account should I focus on?

Rounding it up

  • A TFSA, or a Tax-Free Savings Account, allows people to hold a variety of assets, like cash, stocks, and mutual funds in one place, completely tax-free.

  • RRSPs, or Registered Retirement Savings Plans, are a tax-deferred investment account that’s specifically designed to help people save for retirement.

  • Both are great options for those looking to save; deciding which is best for you depends on your financial goals and when you’ll need access to your money.

  • If you have long-term savings goals and also don’t need immediate access to these funds, consider RRSPs. If you’re thinking shorter-term, look into TFSAs.

6 min read

Brittany Bell
#saving#savings account#TFSA#RRSP

Recent Articles

Bank of Canada raises interest rates

How fast does your credit score go up in Canada?

Will personal loans impact my credit score?

Can I get a personal loan with bad credit?

What kind of loans can I get in Canada?

Should I split my money between banks?

Related articles

What is the best interest rate on savings accounts?

7 mins

Yekaterina Galanova

Not all savings accounts are created equal. Learn here how to pick the one that has your best interest in mind.

What is the best interest rate on savings accounts?

7 mins

Yekaterina Galanova

Not all savings accounts are created equal. Learn here how to pick the one that has your best interest in mind.

#interest

#interest rate

#savings

#savings account

logo.koho

Company

AboutCareersCultureGamerLearnPartnersTravelStatus

Connect

The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

By using this website, you accept our Terms and Conditions. Follow these links for more information on our Privacy Policy, Accessibility Policy and Multi-Year Accessibility Plan. © 2022 KOHO Financial Inc.