4 Reasons To Avoid RRSPs - RRSP vs TFSA vs Non Registered Account

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Information 4 Reasons To Avoid RRSPs - RRSP vs TFSA vs Non Registered Account

Title	:	4 Reasons To Avoid RRSPs - RRSP vs TFSA vs Non Registered Account
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Make sure to also check out our RSP vs TFSA video that shows a few examples of when to use either account: youtube/G21LW2UC4Bs
Comment from : The Independent Dollar

Dont trust the stockmarket
Comment from : SLF

This video is so beneficial! None of these things is usually mentioned in the typical explanation/comparison video of registered accounts All you hear is the tax deferral advantage, the differences between TFSA/RRSP, but single thing on this list may suddently disqualify the RRSP as a good option Plan to retire outside of country? Dreaming about growing retirement investments to $1m? Living of cash flow from dividends? All of these could be a big no no for RRSP
Comment from : Oscar Hanzely

My company matches 1 for 1 on rrsps
Comment from : JJ M

This is a 100 k channel easyy
Comment from : finnisluv

I can tell all Canadians as a retired person, rrsps are the worst investment I ever made, taxed income to purchase and taxed again when withdrawals, after retirement any withdrawals are considered income, which totally cuts you off from any government assistance, a huge money maker for banks and government Everyone is so excited about that tax refund , Figure it out people, you cannot possibly earn money with them
Comment from : Mr misanthrope

You should learn right terminology - you cannot buy RRSP It is simply tax shelter
Comment from : John Smith

Thank you so much
Comment from : Saleh Qablawi

Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today
Comment from : Wilians logan

If u have us stocks for long term growth 25 years + an rrsp is great!
Comment from : mm 12

Entirely unreadable
Comment from : Andy C

@3:40 let's just appreciate that poignant moment there
Comment from : Vesela Simeonova

If Beneficiary for RRSP will be under 18, Still they calculate ( Income Tax )all RRSP money as a income for that year
Comment from : Wilbon Fernandes

aresp
Comment from : Dhruv Aggarwal

Point is: taxation is theft Biggest criminal in this world is the government
Comment from : Ashleigh S

What about retiring at age 60 instead of 65? Receiving work pension, CPP, and withdrawing from an RRSP while playing less taxes while enjoying an early retirement?
Comment from : James Campbell

Thanks for the information
Comment from : R Desince

I thought u were taxed just 10 up to 5000bucks withdrawal
Comment from : AutomaGiclly

There is a flaw with the RRSP vs non-registered comparison Assuming both accounts have the same growth over the same time period, and the RRSP is used correctly, the RRSP will have a significantly higher balancebrbrWhile you invest after-tax dollars in the non-registered account, you should be investing the pre-tax equivalent in the RRSP (either by re-investing the tax return, or pre-calculating the tax payable and investing it upfront) This would result in a significantly larger sum in the RRSP, and it's likely the post-tax withdrawal amount would be larger than the non-registered amount
Comment from : Chris Hayes

RRSP's benefit is to defer taxes when you are at a higher tax bracket I maxed out my TFSA and contribute the max allowed monthly; I rather defer my income tax sooner, and re-invest my yearly income tax returns brI plan to retire EARLY (between 55-58) so my RRSP total will be divided up from an earlier age across my entire lifetime while my TFSA is my tax free bucket that I can use to buy a home with or whatever
Comment from : PeeGee Thirteen

Hi very informative video Keep up the good work I want to know if non registered mutual fund is good for me? I dont have rrsp but i have tfsa Thank you
Comment from : Cyril Victor Mandal

Great video, I learned a lot👍👏
Comment from : Darren Walking By

Thanks for your video and channel If someone has 3 or 4 little kids you don't think RRSP can increase the amount of CCB (Canada Child Benefit) payments for a growing family?
Comment from : waji wajdi

Great video but can you pls talk a little bit slower I'm finding myself rewinding so I can understand you Otherwise, thanks for sharing your knowledge this is a good one Thumbs up!
Comment from : The Cycling Couple

You are giving wrong information im your comparison on the taxes on withdrawing 30,000 from RRSP vs Non register account The tax on Non regsiter account is lower here because you already paid the income tax on the 30,000
Comment from : Saed Malkawi

I just came across your channel after watching another similar channel This information is very important I have a Group RRSP and some TFSA However, I do need to invest my TSFA through Wealthsimple or Questrade Unfortunately I am old School and don't know how these investment options Thank you
Comment from : Auntie S

This was such a helpful video Can you do a video on tax strategies for folks looking to retire early? For example if one wants to retire at the age of 40, what does that mean in terms of RRSP she’s been saving, CPP, etc? How is it different from if she retires at the normal retirement age? I tried looking for this on google and YouTube but not much out there specifically for Canadians thank you!!
Comment from : Jennifer L

RRSP IT AIN'T FOR ME THERE ARE MANY OTHER WAY TO SAVE 💰
Comment from : Bun-Reth Sak

If you are earning 125k+ and want to retire before 55 and still have a pension I'd recommend you max out your rrsp and begin to withdraw them before your pension, CPP, OAS kick in I'd even start my rif and CPP, OAS early to take on the penalty if you have enough RRSP saved up
Comment from : Randy Guo

Just discovered this channel Finally a channel that explains taxes in a simple way
Comment from : Monica Salamanca

Thanks for clear explanation, is there anyway to transfer my rrsp to tfsa? Wished I hear this video before bought too many rrsp recently?
Comment from : Be Afresh

I love how she goes into so much detail but dosent talk about the tax breaks you receive by simply depositing into the RRSP The title should be 4 SITUATIONS to avoid paying into RRSP not REASONS
Comment from : Boston Bruins FanBoy

This video shouldn’t be called “4 reasons to avoid the RRSP” it should be called “4 dangers about RRSP to look out for” If planned out well an RRSP can have less taxes than a TSFA
Comment from : evelyn renz

Nice to see this type of content for Canadian folks in a fairly easy to understand format
Comment from : Rick

RRSP is a brilliant scam
Comment from : Gspec 5

Do you know about the RDSP and if certain travel or relocation restrictions also apply to it?
Comment from : Zakimer Xero

RRSP Benefit Alert: Are we not deferring/saving our current high rate taxes to much lower taxes if we withdraw money from RRSP after retirement?
Comment from : Pardeep Singh