Investing in TFSA vs RRSP vs Corporation
Most physicians in Ontario are incorporated, which means there are more options available to save for your retirement. You can put your retirement savings in your corporation, in your Registered Retirement Savings Plan (RRSP), or in your Tax-Free Savings Account (TFSA).
In this debut episode of The Financial Checkup, Dr. Paul Healey, cofounder of the Physician Financial Independence online community and a member of the Advantages Retirement Plan™ Investment Committee, shares his insights on what physicians may consider when planning and saving for retirement.
Below are links to the papers referenced in the episode:
- Corporation vs RRSP vs TFSA Simulator
- Determining the worth of registered accounts for owners of small business corporations
- TFSAs for Business Owners… A Smart Choice