Personal Finance

Comparing TFSA for Children and RESP Plans: Benefits and Drawbacks

Personal Finance /
boy in red and black crew neck shirt

Introduction When it comes to saving for your child’s future, there are a few options to consider. Two popular choices are the Tax-Free Savings Account (TFSA) for children and the Registered Education Savings Plan (RESP). Both options have their own set of benefits and drawbacks, and it’s important to understand them before making a decision. […]

Comparing TFSA for Children and RESP Plans: Benefits and Drawbacks Read More »

Comparing Tax Considerations of RESP, TFSA, and GIC for Canadian Investors

Personal Finance, Tax Considerations /
graphical user interface, application

One of the main tax considerations of the Registered Education Savings Plan (RESP) is the ability to grow your investments tax-free. Contributions made to an RESP are not tax-deductible, but any income earned within the plan is not subject to tax until it is withdrawn. This can be a significant advantage, especially considering that the

Comparing Tax Considerations of RESP, TFSA, and GIC for Canadian Investors Read More »