A Registered Retirement Savings Plan (RRSP) lowers your taxable income now and lets your investments grow tax-deferred until retirement.
Every contribution reduces this year's taxes.
Investments compound untouched until retirement.
Borrow from your own savings for a first home.
A registered account where contributions are deducted from your taxable income, and investments grow tax-deferred until you withdraw them — ideally in retirement, when your tax rate is lower. It's especially powerful for higher earners and anyone without a workplace pension.
Most people benefit from both; the right order depends on your income.
| RRSP | TFSA | |
|---|---|---|
| Deduction now | Yes | No |
| Growth | Tax-deferred | Tax-free |
| On withdrawal | Taxed as income | Tax-free |
| Best when | Your income is higher | Income is lower or flexible |
Your limit is 18% of earned income up to a yearly maximum, plus any unused room carried forward.
18%
of earned income is your annual room
Carry-forward
unused room rolls to future years
HBP + LLP
borrow tax-free for a home or education
Withdrawals are taxed as income, with two key exceptions: the Home Buyers' Plan and Lifelong Learning Plan let you borrow from your RRSP tax-free for a first home or education, then repay it over time.
No pressure, no jargon — just a clear path from your first question to being covered.
We talk through your situation, family, and what's on your mind — in person, by phone, or online.
I work out exactly what you need (and what you don't), so you never over-buy.
I shop multiple insurers and lay the choices out side by side in plain language.
I handle the paperwork with you and follow up with the insurer on your behalf.
Free annual reviews, and I'm here to guide you through any future claim.
We can meet in person, hop on a call, or connect virtually. Whatever feels easiest and most comfortable for you.
Book a free, no-pressure consultation. I’ll explain your options in plain language and help you choose with confidence.
