Evan Neufeld - Financial Planner

Use your TFSA more like a Tax-Free Retirement Account!

Here's 3 TFSA tips:

1. You can and should be using your TFSA to invest. 49% of Canadians don't know that you can have anything other than cash in a TFSA. Stocks, bonds, ETFs, and Mutual funds can all be held in a TFSA to grow your money over time

2. TFSAs aren't just for young people. You can think of your TFSA like a tax-free retirement account! The longer you leave it, the more tax-free money you can keep out of the government's hands

3. Avoid the extremes in a TFSA. Cash in a TFSA is a waste. Losing money on highly risky investments means that your TFSA contribution room is gone forever. Use a TFSA for diversified investments and hold them as long as possible get the most out of the tax-free benefit.