March 14th, 2009

Investment planning is typically modified through the course of an investor’s lifetime, as their investment goals and time frames change. During your 20′s, your investment goals are typically different than they are in your 30′s and so on. With the new TFSA becoming available in 2009, it is important to understand how many investors plan to utilize this account for their financial futures.

Read the full article here: http://ezinearticles.com/?TFSA-Through-the-Ages&id=1861872

June 15th, 2008

How Is a TFSA Different From a Registered Retirement Savings Plan?

An RRSP is primarily intended for retirement. The TFSA is like an RRSP for everything else in your life.

• Contributions to an RRSP are deductible and reduce your income for tax purposes. In contrast, your TFSA savings will not be deductible.
• Withdrawals from an RRSP are added to your income and taxed at current rates. Your TFSA withdrawals and growth within your account will not—they will be tax-free.

May 18th, 2008

An Effective Vehicle for Your Lifetime Savings Needs

• Clarence withdraws $20,000 tax-free from his TFSA to go back to school. Clarence will be able to re-contribute the $20,000 to his TFSA in the future without affecting his other available contribution room. Had he used his RRSP savings, he would have needed to withdraw up to $37,000 to pay taxes and cover the cost of his schooling, and this contribution room would have been lost.