What is the best way to save money for retirement and children's University?

[TurboTaxSusan]

To save for your child's education, you may want to look at a RESP (Registered Education Savings Plan). This TurboTax article talks about RESPs: Help Your Child Go to College or University With an RESP

For retirement, you may want to consider a Registered Retirement Savings Plan (RRSP). 

If you have a Tax-Free Savings Accounts (TFSA), you can use it for whatever you need it for – like your child’s education or your retirement.

This TurboTax article talks about RRSPs & TFSAs: RRSP vs. TFSA – Which Might Be The Better Choice For You?