RRSP and TFSA Infographic
Often saving for the future involves using both RRSPs and TFSAs. This TFSA and RRSP infographic illustrates the similarities and differences between the Registered Retirement Saving Plan and the Tax-Free Savings Plan. Both RRSPs and TFSAs offer tax advantages to save for both long and short-term goals.
Is it better to invest in an RRSP or TFSA? With updated numbers each year, this infographic is designed to help illustrate the answer, “it depends”
See Also: 10 Ways to Grow Your RRSP
This infographic includes current contribution limits and information about eligibility and tax deductibility. Moreover, highlights on withdrawing funds are included like timing and tax on withdrawals. The TFSA and RRSP infographic is a helpful resource updated each year. For details about each savings plan, visit the CRA site.
To help with your planning, explore the RRSP Tax Savings and RRSP Limit Calculators in FreshPlan.
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- One of many infographics included in FreshPlan software
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