17: TFSA vs. RRSP
Money Feels
00:00
Is TFSA the Best Account for All Canadians?
The threshold for the RSP is $50,000. But everyone's financial situation is different. As your income gets higher and higher, maybe you don't have enough deductions to make up for the tax burden,. RSP starts to make more and more sense. If you are a dual Canadian affair, as a Canadian, I like to apologize on behalf of the country. The IRS is not super happy with the TFSA. They have a problem with it. And they're like, that account is not tax free for you. So apologies for dual citizens. It's not very nice.
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