Skip to content
Canajun Finances Home » TFSA » Page 2

TFSA

Financial Despair

TFSA Retirement Welfare Bums

Remember when the TFSA limit was $10,000 for a while, those were happy times, even when we thought it was for Rich Folk’s benefit.

Step by Step

What is my TFSA Limit?

What is my TFSA limit ? You simply check the CRA web site, or you can call and ask as well. Remember money you withdrew this year, won’t be reflected yet.

TFSA How To

TFSA Two Step

At RRSP time what do you do with the tax money you save? Maybe time to do the TFSA two step and put the tax money in your TFSA

TFSA Now and Then

A few years ago when TFSA‘s were a new and exciting thing, our friend Larry MacDonald did an article featuring me (and my son in the picture). The article discussed what TFSAs could be used… Read More »TFSA Now and Then

Volemort TFSA

I did my RRSP and TFSA Now What?

After contributing to my RRSP and TFSA, I often hear people ask, “Now what?” It’s a fair question—but the real question should be: What did you invest in once the money landed?

Far too many people drop funds into a TFSA “savings” account earning 1.2%, or worse, let their advisor push them into mutual funds with high MERs (Management Expense Ratios)—sometimes as high as 3.2%! That’s not wealth-building. That’s giving your money away in fees.

The TFSA is a powerful tool, but only if used properly. It’s not just a tax-sheltered savings account—it can (and should) be a vehicle for investing in low-fee, long-term growth assets. The same goes for your RRSP.

Bottom line? If you’re handing over $2,000 to a stranger at a bank and saying, “Do something with it,” you need to spend more time learning about your money than shopping for your next TV. Otherwise, the real cost isn’t the MER—it’s missed opportunity.

Keywords: TFSA, MER, RRSP, personal finance, Canadian investing, mutual fund fees, financial literacy, low-fee investing

Verified by MonsterInsights