Ever since the tax-free savings account (TFSA) and the registered retirement savings plan (RRSP) were introduced to the Canadian financial landscape, individuals have been plagued with the issue of where to park their funds. Both of these vehicles offer tax savings, but which is better? The answer is there is no answer. There are a few questions you can ask yourself to determine which one is appropriate for you.
Making charitable donations is a fulfilling way to give back. Few people know, however, that you may utilize your investment vehicles and life insurance policies to do so.