Ottawa Business Journal
January 16, 2023.
You may have wondered “If I have a finite amount to invest and I have to choose between contributing to my TFSA or to my RRSP, which one do I choose?” It’s a question we are often asked and, as is frequently the case with financial questions, the answer is, “it depends”.
The ambiguity of the answer sometimes leads people to choose neither and not invest the money in either tool. Don’t let your behavioural biases cause you to be a victim of this! It is important to take advantage of time, and to allow your investments to compound, so the sooner you make your RRSP or TFSA contributions, the better.
