Tax
TFSA Wiki Page
![TFSA Wiki Page](/content/images/2024/03/DALL-E-2024-03-27-14.11.26---An-illustration-that-represents-the-concept-of-a-Tax-Free-Savings-Account--TFSA--in-Canada.-The-image-includes-a-piggy-bank-labeled--TFSA--sitting-on-.webp)
Following, you'll find a link to my comprehensive TFSA "Wiki Page".
I update this post annually covering their history, basics, and how they can be used for various financial goals. Key points include:
- TFSAs are flexible, tax-advantaged accounts that can be used for long-term investing or short-term savings.
- Contribution limits are set annually, with unused room carrying over to future years.
- Withdrawals are tax-free and can be re-contributed in the following year.
- TFSAs can be used for retirement planning, with strategies to optimize income and minimize taxes.
- Common pitfalls include over-contributions and not utilizing the account's full investment potential.
BONUS: a podcast discussing TFSAs:
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