One of the major issues with a TFSA is also one of the best parts about it: freedom. You can withdraw or contribute at any time with zero hassle! No forms to fill out, no complicated tax issues to resolve, just stay within your contribution limit and that’s it. The problem with using a TFSA […]
Contrary to what may seem like an obvious answer, once you have money invested with an RRSP, it is better to leave RRSP investments in an RRSP account until you need it or until it is passed on with your estate.
In 2009, the Government of Canada introduced a new financial tool to help Canadians save for the future. The Tax Free Savings Account (TFSA) allows any Canadian over the age of 18 to grow their savings without having to pay tax on accumulations or withdrawals. Money can be withdrawn from a TFSA at any point […]
During the past few years I have seen a number of TFSA accounts, usually opened at banks and virtually all of them in some form of interest bearing account and usually in a term of 1-3 years. This is all well and fine, especially coming off the performance of the stock market during most of […]