Is Your TFSA Not Looking Too Good?

Probably more misunderstood than Taylor Swift’s “Starbuck’s Lovers” lyrics, the TFSA account has had its reputation dragged through the mud the past couple of years. Ever since the Trudeau Liberals went on a crusade to bash the TFSA as a rich man’s tool to get rich quicker, the TFSA has been swept under the rug…

What Happens When You Over Contribute A TFSA?

The TFSA has been around since 2009 and its introduction has created a great way for many investors to make money completely tax free. The fact that money made in a TFSA is tax free could mean that people will try to take advantage of it. So what exactly happens when the TFSA is over…

Use The TFSA For Stocks Not Cash Savings

2017 brought in a big milestone for the TFSA. For the first time ever the threshold for the TFSA crossed the magical $50K line. Why is that important? In general, most financial advisers and savvy investors would tell you that when you reach over $50K in assets, it’s better to go with lost cost ETFs…

How To Start The New Year Off Right

I don’t normally write back to back posts, but hey it’s 2017, a start to a brand new year! 2016 might have been bad year if you were a celebrity, but the financial markets did quite¬†well. Let’s hope for a great follow up in 2017! January is always a month for resolutions. Whether we choose…

Aaargh! Why Are You Using Your TFSA Wrong!

In 2009 when the Canadian federal government introduced the Tax Free Savings Account there was very little fanfare simply because the allowed contribution limit was a paltry $5000. Fast forward to 2016 and the total contribution room has now grown to $46, 500. Now I’m not sure what country you live in, but $46, 500…

Why The TFSA Might Be Better For The Poor Than The RRSP

There is so much bad press about the increase in the TFSA account. Everywhere you read it states that the TFSA increase only benefits the rich and not the middle class or the poor. I actually disagree with this statement in some sense. It’s true that individuals have less money to put away into their…