Joint Venture: Top 10 Reasons to Invest in a TFSA

  1. You can put as little as you like into a TFSA – or as much as $5,500 a year.
  2. You can start saving without putting your money out of reach.
  3. You watch your savings grow as earnings compound year after year.
  4. Interest, dividend and capital gains earnings are tax-free.
  5. withdraw money any time with no penalty and put it back the next year if you like.
  6. Withdrawals aren’t part of your income so it won’t add to your income tax bill or take away from your government – sponsored benefits.
  7. It’s a great place to park money for something big further down the road, like a home or car.
  8. Contribution room can be carried forward year to year. Anyone who was 18 or older in 2009 can contribute up to $25,500.
  9. Unlike RRSPs, there is no upper age limit for contributions.
  10. You can invest in what you like in your TFSA: Cash, Bonds, GICs, Mutual Funds, Stocks, Options and more!

A few reasons why investing in a tax-free savings account makes total financial sense.

– Posted by Amanda Brash

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