For each option below, decide whether a TFSA or RRSP would be more appropriate and explain why

(a) You earn $11,000 of income and want to save some money for either retirement or to buy a house in five years.

(b) You earn $40,000 and want to save for a house purchase likely to occur in about four years.

(c) You earn $125,000 and want to save for retirement.

(d) You earn $80,000, are part of a defined benefit pension plan, and want to save more for your retirement.

Answer rating: 100% (QA)

a TFSA would be more appropriate Low income so RRSP contributions would see little tax savings Wanti... View the full answer