Should I invest in a TFSA or RRSP? And when does it make sense to do both?

The TFSA-or-RRSP question is one almost every saver hits, and the honest answer is that it depends on where you sit. This column lays out how to think it through across very different income levels, since the right call for someone earning modestly looks nothing like the right call for a high earner. The reasoning turns on your tax rate now versus the rate you expect in retirement: an RRSP deduction is worth more when your income is high and likely to fall later, while a TFSA's tax-free withdrawals shine when your bracket is low today or you want flexibility down the road. It also gets at when using both accounts together makes sense. It's a practical guide for anyone deciding where each dollar should land rather than defaulting to one account out of habit.