Tax Free Savings Accounts (TFSA’s) will be available in 2009. Should we be using them instead of RRSP’s to save for retirement? The short answer is that there is not a definite answer. It will depend on your circumstances. Since the real difference between them is the tax consequences, the answer depends on 2 key factors: Marginal tax rates when contributing vs. marginal tax rates when withdrawing. Read more…

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