Stress Test: Here’s what young Canadians are putting in their TFSAs
The Decibel
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Navigating Tax-Free Savings Accounts
This chapter explores the functionality and benefits of Tax-Free Savings Accounts (TFSAs) for young Canadians, touching on strategies for both short-term and long-term savings goals. It contrasts saving versus investing within a TFSA and introduces the First Home Savings Account (FHSA), highlighting tax implications and contribution limits. The discussion emphasizes the importance of tailored investment portfolios and the potential advantages of Registered Retirement Savings Plans (RRSPs) during key life events.
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