Financial markets around the world reeled following President Donald Trump’s latest and most severe set of tariffs, and the U.S. stock market took the worst of it.
That seems like a good addition, although at least for younger people i’d still prefer stocks over the safer annuities, since with a longer time horizon you can weather out some of the fluctuations for higher returns.
Yeah, in that case we have two vehicles: TFSA which is a tax free growth account (similar to 401k), and an RRSP, which is a tax deferred growth account (offsets your taxes now, withdrawals taxed as income later, no tax on gains).
Young people should be contributing to TFSA then RRSP, depending on life goals/events. CPP withdrawals are automatic unless self employed.
That seems like a good addition, although at least for younger people i’d still prefer stocks over the safer annuities, since with a longer time horizon you can weather out some of the fluctuations for higher returns.
Yeah, in that case we have two vehicles: TFSA which is a tax free growth account (similar to 401k), and an RRSP, which is a tax deferred growth account (offsets your taxes now, withdrawals taxed as income later, no tax on gains).
Young people should be contributing to TFSA then RRSP, depending on life goals/events. CPP withdrawals are automatic unless self employed.