@jordfinance: Most Canadians don’t realize that each account has a different job. 🇨🇦 Using the right account can help you reduce taxes, grow your investments more efficiently, and keep your money accessible when you need it. Here’s the cheat sheet: • TFSA = tax-free investing • RRSP = tax deduction today • FHSA = first home savings • Non-registered account = investing after you’ve maxed out registered accounts • High-interest savings account = emergency fund • Chequing account = bills and everyday spending Which accounts do you currently have? Let me know in the comments. This is general educational information, not personalized financial advice. #PersonalFinance #CanadianFinance #InvestingCanada #TFSA #RRSP
Just found this and it is the clearest breakdown of Canadian accounts I have seen on this app, most people mix up TFSA and RRSP forever. One thing worth adding, the order actually matters too, FHSA first if you are saving for a home since you get the deduction AND the tax free withdrawal, then TFSA before RRSP if your income is still growing, since the RRSP deduction is worth more once you are in a higher tax bracket later. Curious though, for someone maxing out FHSA and TFSA already, would you push RRSP next or slow down and build the non registered account instead?
2026-07-28 01:02:47
7
ℜ𝔞𝔶𝔢_𝔇𝔞𝔯𝔨👾 :
if I dont have money to put anywhere?
2026-08-06 08:34:20
0
AlexTheGr8 :
is that ascending order.
2026-07-27 18:48:21
6
Chris Robak :
please name a bank that offers a real hysa?
2026-08-04 05:09:52
2
🍁 Stasii 🍁 :
Just invest on ETF's
2026-08-01 01:16:49
4
Lorvaen :
Link the hysa
2026-08-05 18:48:58
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goodandyoukbye :
Imagine putting your taxed income into an Rrsp then getting taxed on it again when you want to take it out
2026-07-30 18:55:17
3
Karen_bookworm 🇨🇦 :
I have maxed out TFSA and RRSP. FHSa doesn’t apply to me. The rest goes to non-reg
2026-07-29 22:39:26
2
. :
Thanks for breaking this down
2026-07-28 02:50:15
7
Stillstanding33 :
Ok my kid is 16 and has a part time job. None of these accounts are accessible to him because he isn’t 18. But with this economy he needs to start saving now. Any suggestions?
2026-07-28 14:33:56
2
Ruth :
Great advice and that’s the way to do it.
2026-07-29 01:05:10
5
Susy ~ Your Wealth Buddy 🇨🇦 :
Every Canadian resident should have this knowledge at their tips. Thanks for sharing
2026-07-30 04:26:17
3
It’s me Sam :
Great explanation, thank you!
2026-07-30 01:44:51
2
LukesALot :
Best hysa?
2026-07-30 13:34:43
2
Haller 🇨🇦 :
max out your TFSA. F the RSP unless you want to be taxed to death twice.
2026-08-04 22:50:51
2
ok :
h
2026-08-02 08:03:45
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perryphillips745 :
Dude the RRSP is a government rip off
2026-08-05 06:23:51
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ShirleyDealshub :
watch how AI will do the work for you while you sleep https://vt.tiktok.com/ZS4N2bPVd/
2026-07-29 18:02:15
2
derick tom :
AI dropshipping gave me the ability to work less while still moving forward financiall
2026-08-01 12:10:29
2
Dragonball08 :
🥰🥰🥰
2026-08-04 15:10:40
0
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