Financial markets around the world are reeling following President Donald Trump’s latest and most severe volley of tariffs, and the U.S. stock market may be taking the worst of it.
That seems like a good addition, although at least for younger people i’d still prefer stocks over the safer annuities, since with a longer time horizon you can weather out some of the fluctuations for higher returns.
Yeah, in that case we have two vehicles: TFSA which is a tax free growth account (similar to 401k), and an RRSP, which is a tax deferred growth account (offsets your taxes now, withdrawals taxed as income later, no tax on gains).
Young people should be contributing to TFSA then RRSP, depending on life goals/events. CPP withdrawals are automatic unless self employed.
That seems like a good addition, although at least for younger people i’d still prefer stocks over the safer annuities, since with a longer time horizon you can weather out some of the fluctuations for higher returns.
Yeah, in that case we have two vehicles: TFSA which is a tax free growth account (similar to 401k), and an RRSP, which is a tax deferred growth account (offsets your taxes now, withdrawals taxed as income later, no tax on gains).
Young people should be contributing to TFSA then RRSP, depending on life goals/events. CPP withdrawals are automatic unless self employed.