Why RRSPs and TFSAs Shouldn't be Chosen in Isolation

Canadians often frame the question like this:

Should I invest in an RRSP or a TFSA?

That framing is too narrow.

Choosing between a Registered Retirement Savings Plan and a Tax-Free Savings Account without considering your tax bracket today, your likely income tomorrow, and when you plan to withdraw funds can quietly cost you money over time.

These accounts do not compete. They coordinate.

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