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R
rodrigofreitas
May 5, 2022
Question

What is the best way to save money for retirement and children's University?

  • May 5, 2022
  • 1 reply
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    1 reply

    TurboTaxSusan
    TurboTaxSusan
    May 10, 2022

    To save for your child's education, you may want to look at a RESP (Registered Education Savings Plan). This TurboTax article talks about RESPs: Help Your Child Go to College or University With an RESP

     

    For retirement, you may want to consider a Registered Retirement Savings Plan (RRSP). 

     

    If you have a Tax-Free Savings Accounts (TFSA), you can use it for whatever you need it for – like your child’s education or your retirement.

     

    This TurboTax article talks about RRSPs & TFSAs: RRSP vs. TFSA – Which Might Be The Better Choice For You?

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