One of the most common questions I get from my clients is about Tax-Free Savings Accounts (TFSA). They are not sure what it is – is it a savings account? Is it an investment account? What is the point of it? Well, blame the government for the poorly named investment product. Let me clear up some misunderstandings about the TFSA, which can be a great vehicle for investing AND saving.
In the children’s story of Goldilocks and the Three Bears, she had to try out each of the beds to find the right fit for naptime. The same can be said for life insurance, you need to find the right one that fits you and your lifestyle.