text: TFSA is only mentioned at the end of the article and for the wrong reasons. Anybody that don't have an employer pension and earns less than the yearly maximum pensionable earnings (YMPE) $55,300 in 2017, will be a candidate to receive the Guaranteed Income Supplement (GIS), therefor stay away from RRSP and concentrate in TFSA. 
  Every $1 withdrawn from RRSP/RRIF will reduce the GIS by at least 50 cents and it might pay income tax creating a tax rate in excess of 50% on the withdrawals.