Category Archives: TFSA

Why are so many Canadians Over-contributing to the TFSA

The Tax Free Savings Account (TFSA) was first introduced in 2009. My personal opinion is that the TFSA is one of the best financial tools devised in a long time. It allows for contributions and tax free growth and tax free growth and withdrawals. The TFSA can be a brilliant tool for short or long term investing.

TFSA or RRSP: A case study

I’ve written about choosing between a TFSA or RRSP in the past but I thought I would share a real case study on someone I recently met. Richard is 32 years of age.  He is married with one four-year-old son. He is putting away $300 per pay into 3 different accounts at the bank. $100 per

Tax Free Savings Account or paying down debt?

Tax Free Savings Accounts (TFSA) are really gaining traction and popularity.  Everywhere I go, people seem to be interested in the TFSA because they are tax free.  And why wouldn’t tax free appeal to you? That being said, I am reading more and more articles that suggest TFSAs are better than RRSPs and will eventually

TFSA or pay down debts

The Tax Free Savings Account (TFSA) is big news in the personal finance world.  These new tax free accounts have brought about lots of discussions not only about the TFSA basics but also some new and interesting debates.  Not too long ago, I discussed the new debate between TFSA or RRSP and came to a

TFSA Basics: Contributions and Withdrawals

In 2009, the Tax Free Savings Accounts (TFSA) was introduced and based on what I see as a financial educator, they are really gaining momentum.  Despite the growing popularity, I continue to meet people who don’t fully understand them or worse yet, know nothing about them. This has motivated me to write a few articles