tag:blogger.com,1999:blog-5465015914589377788.post7258149688792173725..comments2024-02-17T11:07:06.232-05:00Comments on Michael James on Money: RRSP versus TFSAMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-5465015914589377788.post-1568357463531621302020-10-31T17:27:02.049-04:002020-10-31T17:27:02.049-04:00Canadian Capitalist wrote the following comment 20...Canadian Capitalist wrote the following comment 2010-02-03:<br /><br />Thanks for the mention Michael. Middle income households could alternate between the two, contributing to the TFSA in some years and the RRSP in others. This debate would never get settled because there are so many unknown variables.<br /><br />I don't fall in the camp that TFSA room should be hiked. Royal Canadian Air Farce did a skit on this that goes along the lines of "yeah, as if we have enough money to contribute to a RRSP in the first place!". There is a lot of truth to that.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-43981018178772785302010-02-04T02:06:01.040-05:002010-02-04T02:06:01.040-05:00I don't think hiking TFSA room should be a pri...I don't think hiking TFSA room should be a priority either. Those of us whose problems consist of not enough room to shelter retirement savings are lucky compared to most other Canadians. The least fortunate among us deserve government help before the most fortunate.<br /><br />Also, in ten years, everyone will have $60,000 in TFSA room, in twenty years, $110,000. Five thousand per year eventually adds up to a significant amount.genehttps://www.blogger.com/profile/05608927986297939720noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-20955183385137935632010-02-04T00:00:47.489-05:002010-02-04T00:00:47.489-05:00TFSAs are definitely the way to go for most young ...TFSAs are definitely the way to go for most young investors. RRSPs are great once people are established.Doctor Stockhttps://www.blogger.com/profile/02713536413876182026noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-39554320302821583692010-02-03T13:40:13.772-05:002010-02-03T13:40:13.772-05:00I agree with your analysis. At this point, all exc...I agree with your analysis. At this point, all except the lowest earners need both. I wrote about this as well yesterday, and I believe the report does argue that TFSA room should be expanded in the "Conclusion and Policy Implications" section.<br /><br />I also agree that the details of this debate are lost on many Canadians. Judging by some of the searches I receive on my site, there is a need for more basic education on RRSPs, TFSAs, and the difference between the two.2 Cents @ Balance Junkiehttp://www.balancejunkie.comnoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-81213804549617790382010-02-03T08:54:26.814-05:002010-02-03T08:54:26.814-05:00Big Cajun Man: After listening to some people tal...Big Cajun Man: After listening to some people talk about RRSPs and TFSAs, I think they might understand your explanation of the choice better than they would understand mine. Knowledge in this area among the general public seems very limited.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-53094087223486016572010-02-03T08:31:43.336-05:002010-02-03T08:31:43.336-05:00I think TFSA can take RRSPs, because it is younger...I think TFSA can take RRSPs, because it is younger, and will use either the Big Splash or the People's Elbow to finish off the old and weak RRSP.Big Wrestling Dudehttp://www.canajunfinances.com/2010/02/03/a-real-service-for-chronic-over-spenders/noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-82705904245420875552010-02-03T08:05:05.347-05:002010-02-03T08:05:05.347-05:00Canadian Investor: I'd want to see what other...Canadian Investor: I'd want to see what other tax gets increased to compensate for the lost tax revenue due to increasing TFSA limits before I embrace higher TFSA limits. Sadly, there is no free lunch, especially for taxpayers.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-79783091731427907532010-02-03T05:00:32.448-05:002010-02-03T05:00:32.448-05:00Since they first announced the TFSA, I've alwa...Since they first announced the TFSA, I've always thought it should have a much larger annual contribution limit. I vote for that option.CanadianInvestorhttps://www.blogger.com/profile/05645767559302303541noreply@blogger.com