Hey, retirement planning party people! Why don't we look at the financial implications of choosing between investing solely in an RRSP (Registered Retirement Savings Plan) or a TFSA (Tax-Free Savings Account) over a lifetime for a middle-class earner in Canada. We'll compare the long-term outcomes of contributing $10,000 annually into an RRSP versus the equivalent net contribution to a TFSA, and blood will be spilled! The comparison takes into account average tax rates, retirement income from CPP (Canada Pension Plan) and OAS (Old Age Security), and the tax-free nature of TFSA withdrawals, concluding with insights into how each option could impact retirement planning, government benefits eligibility, and estate planning. What do you think of Kent's findings?

Questions about the methods? Contact us at [email protected]

The Home of K4 Online: https://www.k4financial.ca
Provincial and Federal Tax Tables: https://k4financial.ca/info-library/
Check Out Chad's Channel:    / @chadwiebek4  

Visit our social media accounts:
  / k4financial  
  / k4financial  
https://www.tiktok.com/k4financial/

Our Website:
https://www.k4financial.ca

Don't forget to SUBSCRIBE to stay up-to-date with our latest videos!
_________________________________________________________________

0:00- Intro
0:29- Assumptions
0:54- Scenario
1:26- Comparison and Projections
3:06- Does the RRSP Win?
5:21- Pros and Cons
7:57- Some Things to Consider
#RetirementPlanningCanada
#RRSPvsTFSA
#CanadianPensionPlan
#TaxFreeSavings
#InvestingInCanada

This presentation is just meant to provide information. The accuracy of its contents has been ensured using every available means. Certain statements made may contain forward-looking statements, which involve known and unknown risks, uncertainties, and other factors that could cause the Company's or the industry's actual results, performance, or achievements to differ materially from any projected future results, performance, or achievements. Returns are not certain, and performance in the past might not be replicated.

The content on this channel is provided solely for informative and educational purposes and does not represent investment advice.
The hosts are not liable for the viewers' financial decisions, and their content shouldn't be used as a foundation for investing transactions.