ST Alpha - "Conversely, I moved some stock from my TFSA to my RRSP this year" (Reading a Post)

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In response to "Ignoring the numbers (and how I wish I had those numbers), I *hate* spending my savings. I hate spending my saved miles and points! I like to SAVE." by ty97

Conversely, I moved some stock from my TFSA to my RRSP this year

Posted by Reagen Sep 30 '24, 07:48

TFSA = tax free growth
RRSP = tax deferred
mostly a wash with each other as long as you invest the tax savings from RRSP, although TFSA is more versatile.

US dividends get taxex within my TFSA (the US doesn't recognize it) whereas they don't in the RRSP. The amount of dividend was basically peanuts but it's the principle of the thing. Also, that move lets me claim a large tax refund this year because it counts as a contribution, although it means I'll pay tax on it when I withdraw in 15ish years. But it also helps pay for a family Europe trip next year, and that trip is going to be more fun now than later.

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Am I reading this correctly, in vaguely US terms (not equivalent I'm sure) that you moved from Roth to Traditional? -- nm - ty97 Sep 30, 07:54 1
- roughly, as I understand it? -- nm - Reagen Sep 30, 07:58

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Conversely, I moved some stock from my TFSA to my RRSP this year

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