The RRSP-versus-TFSA question comes up often, and the honest answer is: it depends on your situation, particularly your income now compared to your expected income when you'd withdraw the money.

An RRSP contribution reduces your taxable income today and grows tax-deferred, but withdrawals are taxed later. That makes it especially effective when you're in a higher tax bracket now than you expect to be in retirement — the deduction is worth more today than the tax owed later.

A TFSA works differently: contributions don't reduce your income today, but growth and withdrawals are entirely tax-free. That flexibility makes it a strong choice when you're in a lower tax bracket now, or when you might need access to the money before retirement without a tax consequence.

In practice, many people benefit from using both, in a mix that shifts over time as income changes. There isn't a single correct answer — only the answer that fits your own numbers, which we're happy to work through with you.