Lighthouse Wealth Management

In the final installment of our Turning “Tax Pain” into Personal Gain series, we look at Tax-Free Savings Accounts (TFSAs).

In the last installment of our Turning “Tax Pain” into Personal Gain series, we explained how RRSPs work and highlighted situations we find them most useful for tax efficiency.

In part 4 of our series, we discuss how to access funds in your RRSP and highlight that due to the limited flexibility in doing so, it may not be right for you.

In the last two installments of our 5-part series, ‘Turning Tax Pain into Personal Gain’, we discussed a conceptual framework for thinking about taxes and improved our understanding of registered accounts and how they relate to tax planning. In this article, we drill down on Registered Retirement Savings Plans (RRSPs) and how to use them to maximize tax efficiency.

A discussion on tax efficiency and the proper use of registered accounts such as RRSP and TFSA in tax planning.

In this 5-part series, we will discuss how to better navigate tax season to maximize your tax efficiency, how to think about registered accounts and help you to make more informed decisions in your own tax planning.