HGA Wealth offers an integrated approach to your wealth. We’re fully aligned with you and your goals to provide you with the best product possible. We offer holistic planning and risk management strategies to maximize wealth and minimize tax. We take a personal approach to understand our clients, their business, the risks they face and their vision of the future.

The Difference Between TFSAs and RRSPs

-The main difference between TFSAs and RRSPs is access: you can invest in and withdraw from a TFSA with near total freedom, while an RRSP is much more limited.

-TFSAs have a lower contribution limit than RRSPs, however both have very specific contribution limits.

-A TFSA are more of an investment account than a traditional savings account.

-You can only contribute cash savings to an RRSP.
Contributions to RRSPs are tax-deductible.

-A TFSA is a great option if you think you may need access to the funds before you retire.

-You cannot (in most circumstances) invest or withdraw your RRSP funds until age 55