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Max out TFSA to invest for trading then touch RRSP, no matter what income level. I hear a lot of people say buy RRSP (free money back yada yada yada). There is nothing "FREE", you will get taxed with RRSP sooner or later, might not be now but when you retire and take it out. Many people feel/think when they are retired and take it out then they will pay less tax or little to no tax due to less income. Assume you retire at 60 yrs old, say you stash away $5,000/yr RRSP x 30 yrs = $150,000, it's quite hard to keep your income level low at that point because you'll be getting OAS/CPP/GIS depending your income you report and for which year they start considering income for certain benefits. Also you don't want to lose certain benefits the government provides if your income is too high, so you are always trying to figure out how to keep it low, but it's impossible to do so when you have too much RRSP stashed away. So max the fuck out of your TFSA first. Everyone will have a different approach, whichever works in your favor.
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