Maximizing Tax-Free Savings for Young Canadians

This chapter explores the benefits and mechanics of Tax-Free Savings Accounts (TFSAs) for young Canadians, comparing them with other investment accounts like RRSPs and RESPs. It provides insights on effective short-term and long-term investment strategies within a TFSA, highlighting common pitfalls and the importance of diversification. Additionally, the chapter introduces the First Home Savings Account (FHSA), outlining its advantages for aspiring homeowners and addressing the challenges of investing in today's market.