TFSA Explained: INVESTMENT Accounts For BEGINNERS (What You Need To Know & How To Use It!) Today we’re breaking down the TFSA, and sharing everything you need to know about how to use it to invest! We’ll share the TFSA contribution limit explained, the TFSA basics, investing tax free, tax free savings account, what is a TFSA, TFSA investing strategy, TFSA benefits, TFSA rules, tax-free savings account, TFSA explained for dummies, how TFSA works Canada, TFSA investment options, and how to max out TFSA! Do you have a TFSA?! Let us know in the comments below!
TAX FREE SAVINGS ACCOUNT
▸ What Is A TFSA? – 0:39
▸ How Does A TFSA Work? – 3:28
▸ Benefits Of The TFSA – 6:41
▸ Some Things To Consider – 10:19
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*Please note that this video was filmed in July 2020 and rates may have changed*
RESOURCES
▸ TFSA vs RRSP –
▸ What Is A TFSA –
▸ How To Find Your TFSA Limit –
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Do you use a TFSA to invest?! Let us know in the comments below! ⬇️
Is there a french version? I don't understand english at all!
Hello. I am an international student residing in Canada. I reached two weeks ago and opened a tsfa account. Am I now eligible to contribute a total sum from the day I turned 18?
Remember, I just entered Canada
Thank you! Some Canadians, too. Love it. Thanks for all of this information.
This video is so great! As a newcomer to Canada, this made understanding investments in a new country so easy. Love it.
Where do ppl get these type of money to be droping 4-5k in tfsa I put in 20$ a month
Thank you so much
I would like to confirm (to be certain) you say you use a high interest saving for savings, but are those interest accumulations not taxable? In a tfsa used as an emergency liquid account (which we all need anyway) the accumulating interest paid can be just as high as the high interest account but are not taxable. It would be wise to say you can have two tfsa's one for your liquid emergency fund and one for investing…No?
I'm genuinely wondering where exactly did you find a savings account with 2% (even in 2020)
You talk too fast can you slow down please so we can all understand you
Thank you Stephen Harper for the TFSA!!
ok all your videos are literally so helpful, especially the Canadian perspective cause many personal finance channels are from the states!! thank youu
To my knowledge if you trade to often in your TFSA , you can be taxed on capital gains. There seems to be a large grey area with no definitive answers. I would greatly appreciate any insight/advice that you may have wrt this.
Love your way of explaining things, its very easy to understand. thank you
Question: If you have only put in say, $9,000 in a TFSA, but you're contribution room is up to $60, 000. Can you contribute UP to $60, 000 even if the limit this year is $6,000?
loving your channel! great info
love your videos, will be a regular viewer, thank you for the info
investments well said
Does the contribution limit start from 0 if you are just moving to CA?
omg woooow thank you so much for this vid. I went from 0 knowledge to understanding TFSA
Can you guys make a video explaining the whole TFSA while investing in stocks/bonds/etc? It would be awesome to understand how stock losses/gains affect our contribution room!
You guys are amazing, so well researched and easy to understand. Thank you!!!