TFSA vs RRSP Guide and Questrade Changes

Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs) are great ways to let your investments grow tax-free — with the added benefit of making your paperwork simpler because you won’t have to track or report the gains of individual investments within them. Deciding which is best for you can be a bit complicated, so this decision tool should help you quickly figure out which to use. Click here or on the preview image to open the PDF.

A decision guide in PDF format to help you decide whether to use your RRSP or TFSA. Click to download.

To make it approachable (and fit nicely on a one-page infographic) I worked to make each criteria fit within 3 lines. For more discussion on the considerations, see this post.

Also, Questrade has recently made major changes their interface, which is going to require a substantial update to the book. However, I have a major project due soon and thus zero time to create the updated step-by-step guide in January, so hopefully you can make the inference from the guide using the old interface. Check back in mid-to-late February for an update to the errata for any changes in the instructions. Thanks for your patience, and I hope you enjoy the infographic.

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