Make no mistake, the TFSA is a gift from Canada Revenue. Often, the comparison is made between RRSPs and TFSAs with the objective of choosing one or the other; both registrations are tools used for purposes of tax efficiency. A TFSA takes after-tax money and shelters all future gains from taxation. An investment in an RRSP reduces taxable income and therefore shelters before-tax money to be taxed later on. Do you know what your exact financial position will be in 20 or 30 years? Prepare for the unknown and take advantage of both of Canada Revenue’s tax sheltering registrations. An easy way to do this? Invest into your RRSP, and take the tax refund issued by Canada Revenue to be invested into your TFSA. Now that is planning ahead.