What is Better? Rrsp vs fhsa
In this Hindi-language advisory video, the speaker compares the Registered Retirement Savings Plan (RRSP) and the First‑Home Savings Account (FHSA) as options for first‑time homebuyers who can contribute up to $30,000. The speaker argues that FHSA is the better choice because withdrawals from FHSA do not need to be repaid, whereas RRSP withdrawals (under the Home Buyers' Plan) must be repaid over up to 15 years, creating a financial burden. The speaker also explains where the funds in each account can be invested—mutual funds, stocks, bonds for RRSP, and safer, short‑term instruments such as GICs for FHSA if the money will be needed soon—to avoid loss of capital before withdrawal. The overall recommendation is to use FHSA for home‑purchase savings and to keep the investment profile conservative if the withdrawal horizon is near.
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