Q: Hi I was hoping you could help explain where an RRSP is preferred in investing over a TFSA. I consistently try to offset my income by contributing annually to my RRSP, however unsure the types of stocks or ETFs I should be holding. I currently pay into a pension, hence (pension + RRSP money) results in a higher tax bracket at retirement leading to more taxes down the road. I hold mostly high growth stocks as I feel I have time on my side with my age of 41, although don’t want to get bailed on taxes down the road. Something I feel I can’t avoid.
My question is, should I be holding such high growth stocks in my RRSP or consider other options ? If so, what?
I do understand TFSA’s are generally preferred for tax free reasons. This being said, my RRSP is steadily growing year after year.
Any guidance is much appreciated.
My question is, should I be holding such high growth stocks in my RRSP or consider other options ? If so, what?
I do understand TFSA’s are generally preferred for tax free reasons. This being said, my RRSP is steadily growing year after year.
Any guidance is much appreciated.