posted on Feb, 29 2012 @ 06:17 PM
I personally feel the TFSA (Tax Free Savings Account) is the way to go if your looking for major capital gains. For the non canadians on here it works
like this (in a nutshell): you can put up to $5000/year into the account and you are taxed on this amount. When you take the money out of the account
you are not taxed, thus any growth/capital gains are essentially tax free. I just fear a future goverment will re-neg the TFSA and all that saving
would be for nothing.
RRSP is exactly the opposite. Its really your call, if you feel you can get more from tax savings now then the RRSP is best (particular if income is
high), TFSA might be better overall tho. Or combine the two. Really depends on your situation and what you feel is right for yourself. Just know the
facts about each first and how they work then make a decision from there.
As for investing, i am honestly fearing a major crash (low interest rates and QE have created a very very dangerous situation in terms of debt that
combined with the boomers cutting spending as they prepare to retire will create a perfect storm to seriously degrade economic conditions). Be
cautions particularly if you cannot accept a lot of risk. I personally am sitting on cash to wait and see what happens.
But then again im no expert.
edit on 29-2-2012 by DSO because: (no reason given)