Angela is concerned about saving money for the future and taking advantage of TFSA and RRSP accounts. If she was able to save $500 a month for 40 years, and her marginal tax bracket was 36%, how much more would she have in her RRSP, versus her TFSA, versus saving the funds in an unsheltered investment account? Assume the investment choice was the same for each account and grew at an annual rate of 6%.

Answer rating: 100% (QA)

How you shelter income isnt as clearcut as it once was To reduce taxes and build savings the TFSA offers its own advantages over the traditional RRSP So which is best The truth is RRSPs and TFSAs can ... View the full answer