Having a good financial plan in place also allows you to best save for your goals. An RRSP is a great way to save for retirement, but so is a TFSA. An RRSP can be used to save towards the purchase of your first home, but what if you’re looking to…
My Current goal is to Max out both my and my Wife’s RRSP’s and TFSA’s with a combination of Stock Index ETF’s, Bond ETF’s and REITs. We both have a pension at our jobs and one income property so we feel good about our projected cashflow in retirement.
Once we max out the tax-sheltered accounts we will think about opening a taxable account or persuing more income properties with an eye on early retirement.