Tax Free Savings Accounts are hot

Tax TFSA Free Savings AccountMany self respecting Canadian personal finance bloggers have written their two cents worth about the tax free savings account, but don’t expect that to slow down. Just as RRSP’s became revered and oft discussed in past years, the TFSA will only assume more space in our consciousness as cumulative contribution limits increase by $5,000 each year, and the amount held within one’s TFSA becomes more significant relative to one’s personal wealth.

Here I am going to provide links to a few very good and informative articles on TFSA’s. This article is worth bookmarking, so that if you need to go back and do some quick research in the future, you will have an excellent starting point.

First up is a well written, easy to follow piece by The Wealthy Canadian. It is not incredibly detailed, or burdened by technical mumbo jumbo that will lose the average reader – it is an excellent starting point to your quest for knowledge.

Next up is an article written for the Toronto Star’s personal finance website called Moneyville. This article tries to shed light on much of the confusion which exists about TFSA’s.

Earlier this year, Clare at Young and Thrifty wrote a fine piece on a comparison of TFSA’s and RRSP’s. This kind of comparison will remain prevalent in the years ahead, to be sure.

Jim Yih holds the title of the Globe and Mails’s best personal finance blog – Retire Happy is the name of his site. He has written several articles already this year about different aspects of TFSA’s – this link leads to a list of all the articles, which are clearly titled and allow you to pick and choose your area of interest.

Rob Carrick of the Globe and Mail wrote “For the young, a better way to retire well” in January of 2011 – he also debunks a myth or two about RRSP’s.

From time to time I will update this post as more good information becomes available. If you are a writer who has already penned something worthwhile, please send me an email with the link for possible inclusion here.

Financial Literacy Leader of the Year Award 2017 Crest
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