One of the most complex things to navigate when it comes to your personal finances is your choice of accounts and how to use them in the best way possible. In today’s episode, we break down the types of accounts available to Canadian investors and how to optimize your use of each one. Tuning in, you’ll learn key factors you should consider, including how tax deferral can end up being neutral, beneficial, or harmful — depending on the difference between your current and future tax rate — along with actionable advice on how to navigate these kinds of variables and uncertainty. Starting off, the conversation covers the benefits and drawbacks of tax-free savings accounts (TFSAs) and why it’s one of the first accounts you should consider when investing. We then delve into a series of accounts and their characteristics, like Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs), and Locked-in Retirement Accounts (LIRAs). Included is a breakdown of the newly legislated First Home Savings Account (FHSA) and how it combines features from both TFSAs and RRSPs to basically create a tax-elimination type of account. Every account has its own set of distinct rules, from contribution limits to withdrawal freedoms and flexibility. To ensure that you’re up to date on all the latest, tune in for this comprehensive breakdown of everything from TFSAs to RESPs! Key Points From This Episode: (0:03:21) A breakdown of registered and non-registered accounts.  (0:08:59) The benefits and drawbacks of tax-free savings accounts (TFSAs) and why it’s one of the first accounts you should consider.  (0:14:30) Being able to withdraw from your TFSA, why that makes it really flexible in terms of how it can be used, and how to avoid over-contribution.  (0:18:48) The risks of speculating and trading in your TFSA and the perks later in life when growing a large TFSA slowly over time with more reliable returns.  (0:25:41) Further nuances of investment taxation that you need to know about with TFSAs.  (0:29:07) A breakdown of Registered Retirement Savings Plans (RRSPs), their main attributes, and what you need to know about contribution room and deduction limits.  (0:33:47) Why tax deferral can be neutral, beneficial, or harmful, depending on the difference between your current and future tax rate.  (0:36:45) Tax planning opportunities, comparing TFSAs with RRSPs, and key facts about spousal RRSPs and converting RRSPs to Registered Retirement Income Funds (RRIFs).  (0:48:12) A rundown of Locked-in Retirement Accounts (LIRAs) and Life Income Funds (LIFs).  (0:50:06) The advantages and disadvantages of the newly legislated First Home Savings Account (FHSA).  (0:56:14) Everything you need to know about Registered Education Savings Plans (RESPs) and the Canadian Education Savings Grant (CESG).  (01:09:54) How RESPs are similar to TFSAs from a tax perspective, and what happens when your child doesn’t pursue a post-secondary education.  (01:15:50) High-level commentary on Registered Disability Savings Plans (RDSPs).  (01:17:26) What high-income Canadians need to consider when it comes to taxes, asset allocation, and tax optimization.  (01:23:19) A review of today’s content and what we’ll be discussing next time.    Links From Today’s Episode: https://moneyscope.ca/episode-8-canadian-investment-accounts Dr. Mark Soth (The Loonie Doctor) — https://www.looniedoctor.ca/ Dr. Mark on X — https://twitter.com/LoonieDoctor Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/  Benjamin on X — https://twitter.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/