*A mutual fund is a professionally managed type of collective investment plan that
pools money from many investors, investing mostly in securities such as stocks, bonds, short term money
An investment account is designed primarily for saving toward your retirement; having special Tax benefits. Annual RRSP contribution can greatly reduce the amount of income tax paid in that year, and the money put away can have years of tax-deferred growth potential.
If you find yourself in a high tax bracket, consider allocating taxable income as evenly as possible between you and your wife.
RRSP’s are more effective as a long term investment.
*Either through Mutual Funds or Registered Segregated Funds