In today's episode Warren Ingram answers your questions about retirement annuities (RA) or a tax-free savings accounts (TFSA).  Warren discusses the benefits of a TFSA including tax-free growth, RA offers a tax deduction on contributions, how Regulation 28 governs the maximums in retirement funds, and that decisions should consider both time horizon and psychological tolerance for risk and offshore allocations.

Takeaways

• Consider both time horizon and psychological tolerance for risk when deciding between a retirement annuity and a tax-free savings account.
• Regulation 28 governs the maximums in retirement funds, but a balanced portfolio with a high allocation to shares is generally recommended.
• Retirement funds now offer more flexibility and offshore allocation, making them attractive investments.
• Tax-free savings accounts offer tax-free growth, but contributions are not tax-deductible.

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