An investment fund, when it is registered like RRSP, will give an investor less after tax dollars at the end of an assumed 20-year time horizon.

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An RRSP (Registered Retirement Savings Plan) is designed to be a tax-deferred investment vehicle in Canada, meaning you don't pay taxes on the money you contribute or the growth of those contributions until you withdraw the funds, typically in retirement. Since many people are in a lower tax bracket in retirement than they are during their working years, the after-tax dollars available from an RRSP investment can actually be greater over a long-term horizon, assuming the individual's tax rate is lower at the time of withdrawal.

An Investment Fund, When It Is Registered Like RRSP, Will