![RRSP or TFSA](https://mileni-insure.ca/wp-content/uploads/2023/01/retirement-banner-mileni-scaled.jpg)
Should I use a RRSP or TFSA or both?
A TFSA can be an ideal savings vehicle if you’re in a low-income tax bracket. RRSPs may not be well suited to low-income Canadians. As the earlier example demonstrates, the RRSP account tax savings are insignificant and may be in a higher tax bracket when you withdraw. You may also