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If you’re in a position to put money away for the future, knowing the basics of Tax Free Savings Accounts and Registered Retirement Savings Plan can help you decide what kind of account makes the most sense…for you, specifically. 

If you’re even a little bit interested in money, you’re going to encounter RRSPs. They’re everywhere, especially during RRSP season, that 60 days at the beginning of the year when everyone, including your uncle, is trying to get you to contribute. 

RRSPs aren’t a bad thing. They’re not a good thing. They’re a tool that might be useful to you, and the more you know, the more useful they can be. 

Old Age Security is the closest thing to a universal basic income we have in Canada, and more than 95% of seniors get it. For more than a third of Canadians, it’s a major piece of their income pie. 

Knowing how it works, even if you aren’t old enough to get it, is going to be relevant to you someday, I can almost guarantee it.