Timothy Sumer

For more cross-border financial planning tips, please visit our website: 401(k) vs RRSP - What's the Difference? If you're moving from the US to Canada or you have investments on both sides of the border, you may be wondering what the difference between a 401(k) and an RRSP is. Although the basic difference is that a 401(k) is American while an RRSP is Canadian, there's more to it than that. RRSP, which stands for Registered Retirement Savings Plan is a Canadian tool created by the government which allows you to defer your tax. In other words, you pay tax on the investments (and their earnings) when you withdraw the money from your RRSP. When you invest using an RRSP as your vehicle, you're able to pay less tax each year. So it's best to only withdraw from an RRSP in years when your income is lower. To find out how a 401(k) works and what the differences are between the two financial tools, watch the video to learn more! Share this video with a frie...

For more cross-border financial planning tips, please visit our website: Stocks vs Bonds vs Mutual Funds—what are the differences between these investing tools? What do these terms actually mean? After nearly 30 years helping people plan for retirement, we've noticed that people are often more comfortable thinking about real estate investing than investing in the market. This is often due to the fact that difference between stocks, bonds and mutual funds seems confusing at first glance. If you'd like to learn more about retirement planning , investing, wealth management, or you're planning a cross-border move, please visit our website. www.swanwealthcoaching.com We've create a wealth of resources designed to answer your most pressing questions, clarity areas of confusion, and provide you with guidance. You'll also be able to schedule a call if you need help protecting your wealth or managing assets on either side of the Canadian or US border. Share t...