Episode 7 - The TFSA (Tax Free Savings Account) is the GOAT

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Young Money Diet Podcast

Stay Hungry, Stay Humble

21 episodes

1 day ago

Two Canadians from humble beginnings discovering all the nuances of financial literacy, career planning and necessary life skills. Join us as we explore strategies on how to win gracefully and learn from losing often in this game we call "life". These are conversations that need to start happening in high school: Stay Hungry, Stay Humble.

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Episode 7 - The TFSA (Tax Free Savings Account) is the GOAT

Young Money Diet Podcast

29 minutes 9 seconds

4 years ago

Episode 7 - The TFSA (Tax Free Savings Account) is the GOAT

Episode 7: The Tax Free Savings Account is unquestionably the Greatest Of All Time (🐐 GOAT)

Tune in as we discuss:
What the TFSA is and how to use it 🤷🏼‍♂️🤷🏾‍♀️
What the contribution limits are based on age 🧓🏼👨🏼👦🏽👩🏾
Why the TFSA is key tool for building wealth 🤑

Youtube Link

2021 TFSA Contribution Limits based on Year Born / Age in 2021:

2003 / 18 = $6.0k
2002 / 19 = $12.0k
2001 / 20 = $18.0k
2000 / 21 = $23.5k
1999 / 22 = $29.0k
1998 / 23 = $34.5k
1997 / 24 = $44.5k
1996 / 25 = $50.0k
1995 / 26 = $55.5k
1994 / 27 = $60.5k
1993 / 28 = $65.5k
1992 / 29 = $70.5k
1991 or before / 30+ = $75.5k

Links/Resources mentioned in the episode:

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