If you’re trying to decide between opening a tax-free savings account (TFSA) and a traditional savings account, you need to read this.

Next is the withdrawal rule. This isn’t new, but the CRA made a point of clarifying it again in 2025. Any money you take out ...

This strategy reduces capital risk while still providing attractive yield. The post How to Manage $35,000 in Your TFSA Investment Account During Retirement appeared first on The Motley Fool Canada.

Opening an account sounds simple—and it is—but there are few curves that may throw you. Let’s say for a moment you’re intimidated and/or lazy and decide to go with a bank TFSA.

A tax-free savings account (TFSA) can be used to tax-shelter your investment and the interest earned inside this account. You can contribute up to $7,000 in 2025.

Maury decides to open a TFSA when he’s 18, and he contributes the maximum every year. By 2023, he would have contributed $88,000 — the maximum lifetime limit. Now, let’s say Rachel opens a ...

To open a TFSA, you need to be at least 18 years old and have a Social Insurance Number (SIN). To start an RRSP, you must be less than 71 years old, be a Canadian resident, earn an income and file ...

A tax-free savings is an investment account and tax shelter – the means, as soon as money enters the TFSA, gains become off-limits to the CRA. The money in a TFSA can grow tax-free for the ...

As of the 2016 tax year, 30 individuals held tax-free savings accounts ... These investors are also incredibly rare, accounting for 0.002 per cent of the 13-million Canadians with a TFSA.