A TFSA is an investment account that is registered with the federal government. Within a TFSA, you can invest in a variety of assets — stocks, bond, mutual funds, and more. There are yearly limits to how much you can contribute to a TFSA. You don't receive a tax deduction for the money you contribute to a TFSA. Instead, over the lifetime of the TFSA, the money in the account grows tax free. Additionally, when you withdraw money from the account, you pay no tax on the proceeds. Video and trans...
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A TFSA is an investment account that is registered with the federal government. Within a TFSA, you can invest in a variety of assets — stocks, bond, mutual funds, and more. There are yearly limits to how much you can contribute to a TFSA. You don't receive a tax deduction for the money you contribute to a TFSA. Instead, over the lifetime of the TFSA, the money in the account grows tax free. Additionally, when you withdraw money from the account, you pay no tax on the proceeds. Video and trans...
Inflation describes the rise in general price levels, or the loss in purchasing power of your money over time. Generally, a moderate, stable level of inflation is a sign of a healthy economy — it’s believed to encourage economic growth. Analysts typically look at the price of a "basket" of different goods and services the average consumer might purchase, for example, the Consumer Price Index. Video and transcript available here: https://invested.mdm.ca/financial-literacy/-inflation * MD Adv...
MD Financial Literacy Podcast
A TFSA is an investment account that is registered with the federal government. Within a TFSA, you can invest in a variety of assets — stocks, bond, mutual funds, and more. There are yearly limits to how much you can contribute to a TFSA. You don't receive a tax deduction for the money you contribute to a TFSA. Instead, over the lifetime of the TFSA, the money in the account grows tax free. Additionally, when you withdraw money from the account, you pay no tax on the proceeds. Video and trans...
