What is a TFSA Account? August 27, 2018 By: Eugene Tooms 0 Spread the love Investing is always hard; there is an overwhelming amount of options from TFSA, RESP, RRSP, Life Insurance, Etc. How does one determine what to chose? A good start for novice investors is opening a TFSA account. A TFSA account put shortly is a “Tax Free savings account”. An easy way to understand is to think of a TFSA as a shelter, and anything you put in is not taxable by the government. All earnings/interest gained within a TFSA investment is not taxed. The max contribution for a TFSA acount in Canada is $5500 per year. Canadian Bank Interest Rate Comparison 2018 There is a wide variety of investment options when it comes to TFSA accounts. You can invest your hard earned cash in GICS, mutual funds, stock, bonds and ETFS. If you are unsure of where to put your money it is always best to speak with a financial expert. You can book a free consultation at your local bank. Even if you are unfamiliar with how to invest it always best to try and max the amount you are contributing to a TFSA. The earlier you start the better, as you research and develop new investment strategies you won’t regret having started contributing into a TFSA. Reference: www.ratehub.ca SummaryArticle NameWhat is a TFSA Account?Description A good start for novice investors is opening a TFSA account. A TFSA account put shortly is a "Tax Free savings account".Author Eugene Tooms Publisher Name Locuras Viral Publisher Logo Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Google+ (Opens in new window) Related Tag: Bonds GIC Investing Money RESP Retirement RRSP stocks What is a TFSA Account? Previous post Beneficios de la Guayaba Next post Should I open an RESP Account for my Child? Related articles Read more > Should I open an RESP Account for my Child? Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email.