How you can make the most of your TFSA Try these four tips to make each dollar in your TFSA work hard for you 1. Set up a savings goal The earlier you start contributing money to your TFSA, the longer your savings will have to grow. There’s no ...
How does a TFSA work? The money you deposit into a TFSA is after-tax dollars, and it grows tax-free. This means you keep 100 percent of your investment earnings, whether for short-term needs or long-term retirement planning. Generally, TFSAs can accumulate funds by hol...
While 65 is the goal retirement age for many people, retirement is a very personal decision that relies on a variety of factors, such as how much you enjoy working, your health, your family situation and of course, how much money you’ve saved for retirement. Below you’ll find some ...
How much time do you have to invest? These charts help explain how staying invested over the long term is a solid strategy for growing your money over the long term. The big picture This chart shows how $1,000 invested in various asset classes over the past 84 years would have grown. ...
How a TFSA works ATFSAallows you to set aside money starting at age 18, without incurring any tax on the interest or investment income earned within it. ThoughTFSA withdrawalsare tax-free, your contributions are not tax-deductible. A TFSA can be used to save for anything you want. You ca...
Let's say you're looking for a short-term investment. One that doesn't carry too much risk and you're too busy to monitor your investments. If that's the case, a savings account in your TFSA may work for you. Fairly basic, it works just like a regular savings account. You put ca...
Added flexibility.A TFSA is a savings solution that offers you the flexibility to save for a multitude of short-term and long-term goals. It can help you reach your saving goals, and you can withdraw your money when you need it2. ...
A TFSA can help you at any stage of life. Here’s how.A T F S A can help you at any stage of life. Here’s how. Online investing for beginners: How to get started Online investing is a great way to make your money work for you, but with so many options, where do you start...
Ask your lender how much you can prepay every year. Paying lump sums every year saves you money over the course of your mortgage2. If you pay more than the amount of your annual prepayment privilege, you may have to pay a prepayment chargeOpens a popup. on the excess. Take advantage ...
How much should you save for retirement? What will your future health costs be? These questions are a good starting point when planning for retirement. Your financial plan can be tailored towards the kind of retirement you want to enjoy. ...