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11 Responses

  1. Leo T. Ly says:

    I always contribute to my RRSP first as I get a tax refund. With the refund, I contribute to my TFSA. This way, I get the benefit of both accounts.

  2. I take advantage of my Roth IRA right now while I still can. Hopefully in the future I’ll make enough money where I’ll phase out but until then I’ll take advantage 🙂 Curious why did it bump up to $10,000 in 2015?

    • What do you mean you will phase out.?
      The 10,000 was setup by the conservatives to be the new annual limit. Unfortunately the Liberals got into power the following year and lowered the limit. “They felt only the high class could max out the 10k yearly” I’m sure they didn’t like how they can’t tax the future gains and wanted to cap it lower. Dam liberals!

  3. Pellrider says:

    I am in the process of adding more to RRSP now. Like your blog. Adding to my blog list

    • Thanks a lot Pellrider, That’s the ultimate compliment =)
      We are currently setting up a direct investing account for our rrsp. It would be great to get some u.s. exposure. As well as more money back come tax time.

  4. Nonetheless, using tax-advantaged accounts early on can only help in building your wealth because the longer you stay invested in those accounts, the longer you’re compounding your money tax-free or tax-deferred.

  5. I’m pretty sure Canada borrowed tax-free and tax-deferred ideas from our neighbours in the south.

  6. saeco says:

    If an account-holder withdraws funds from a TFSA, his or her contribution room is increased by that amount in the tax year after the withdrawal.

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