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@zelisky The big thing I've noticed on this sub, compared to what I see in "the real world" is a large amount of people who have a fair amount of wealth and very little experience talking to those who don't have wealth and conversely those who don't have much wealth and little experience with...

@cmanders That is a lie... it means you have the financial freedom to have kids by the time you turn 55!

@ukbeliever220485 Good news, and the thing for those that are worrying that index investing will be less effective when everyone is doing it consider the following: This is just new investments, mutual funds still greatly dwarf ETFs for total ownership and will continue to for decades to come...

@resjudicata When I was 18, I was in the lowest tax bracket, now I'm not. That would be typical of many people. I'm guessing that the majority of people fit into similar circumstances. Also consider households with one person working full time and one person working part time. The majority...

@mtainmn43 While like others say, GIS & even OAS may at some point become means tested, but they aren't and until they are those clawbacks do factor into the equation. However, lost in this TFSA vs. RRSP argument is the fact that the majority of people should probably be putting away more per...

@okeoma I agree, from examples I've seen, RRSP definitely has a clear advantage for those who plan to retire early with no form of pension during that time. On the flip side TFSA has a clear advantage when the goal is to leave money for inheritance. Any money in an RRSP when you die, will be...

@hecallsmehisown Wait you have pension plans and you omitted that when asking this question? Come on why ask a question like this missing huge pieces of extremely important info.

@hecallsmehisown If you're looking for a big tax refund for this year then he should put more money into his RRSP end of story... really short sighted way to plan things though. The ideal should be to save income tax over time. Note, if he uses the RRSP, gets a refund, and spends it, then he is...

@hecallsmehisown Given your situation it would probably be fine if you invested in either your TFSAs or your RRSPs, probably not a big deal which one you pick. I would focus on that over the RESP... it will be better for your kids to pay off student loans for 4 years of school than to support...