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Retirement Annuity

RA vs TFSA calculator

Compare retirement annuity (RA) with a tax-free savings account (TFSA) Compare retirement annuity (RA) with a tax-free savings account (TFSA)

New Retirement Annuity

As a result of main benefit of tax-free savings accounts (TFSA) to receive tax-free returns, the tax-free savings account (TFSA) is an ideal vehicle to save towards a discretionary target. However, the fact that you can make tax-free withdrawals, the tax-free savings account can also be used as an instrument to provide you with a tax-free income at retirement. Last mentioned statement immediately raises the question whether a tax-free savings account (TFSA) will be a better vehicle to save in than a retirement annuity (RA) to provide for your unique needs and circumstances! Whether a tax-free savings account (TFSA) will provide you with a better tax- free income than the after-taxed income you can withdraw from a retirement annuity (RA) is not an easy question to answer. Your personal circumstances like the term you are intending to save, the amount you want to save, your personal marginal tax rate, tax-free limit for retirement funds still available, etc. will determine which product will work best for you. If your need is to save for an income at retirement you can use the calculator on this webpage to give you an indication of how a tax-free savings account (TFSA) will measure up to a retirement annuity (RA) in your unique situation.

Calculate if a RA will work better than a TFSA for you:

Compare retirement annuity (RA) with a tax-free savings account (TFSA) Compare retirement annuity (RA) with a tax-free savings account (TFSA)
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Retirement Annuity Direct
CALCULATORS:
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