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Tax-Free Savings Account (TFSA)

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  • Tax-Free Savings Account (TFSA)

Tax-Free Savings Account (TFSA) is a versatile and powerful savings tool for Canadians, allowing you to grow your money without paying taxes on investment income or withdrawals. Whether you’re saving for a short-term goal or building long-term wealth, a TFSA offers the flexibility to invest in a range of financial products including cash, stocks, bonds, mutual funds, and GICs.

One of the key advantages of a TFSA is that any income earned—whether interest, dividends, or capital gains—is completely tax-free, even when you withdraw it. You can also carry forward unused contribution room and re-contribute any amount you withdraw in future years. TFSAs are open to Canadians aged 18 and older and do not impact eligibility for government benefits like Old Age Security.

Whether you’re saving for a home, emergency fund, vacation, or retirement, TFSAs provide a tax-efficient and flexible way to achieve your financial goals while keeping your money accessible when you need it most.

Benefits of Tax-Free Savings Account (TFSA)

Maximize your savings potential with tax-free growth, flexible investment choices, and full withdrawal freedom. A TFSA is one of the most effective tools for building wealth in Canada.

  • Completely Tax-Free Growth & Withdrawals.
  • No Impact on Government Benefits.
  • Wide Range of Investment Options.
  • Flexible Contribution & Withdrawal Rules.
  • Carry Forward Unused Contribution Room.
  • Ideal for Both Short- & Long-Term Goals.
  • No Age Limit for Contributions After 18.
  • Supports Financial Independence & Planning.

 

Have You Any Question

  • What happens if I outlive my Term Life Insurance policy?

    If you outlive your policy term, the coverage expires, and no payout is made. However, you may have options to renew, convert to a permanent policy, or purchase a new plan.

  • Can I customize my Term Life Insurance policy?

    Yes! You can enhance your coverage with optional riders such as critical illness, accidental death, or disability benefits to better suit your financial needs.

  • How much Term Life Insurance coverage do I need?

    Your coverage should ideally be 10-15 times your annual income to cover living expenses, debts, and future financial needs like education or mortgages for your loved ones.

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