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How do TFSAs and RRSPs work?


Understanding the key differences between TFSAs, RRSPs and investments

Everyone knows the importance of investing and saving for retirement, but banks don’t typically do a great job in explaining all the different acronyms and what they actually mean.

Using a simple analogy we can understand the difference between TFSAs, RRSPs and investments. We approached our friends at Monogram Coffee in Calgary to provide the scene and some amazing coffee and treats to help us explain the concept and difference between accounts and investments.

Knowing how each of these work is an important step in understanding the beginning of your investment journey.

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