Put the growing power of your TFSA to work

Initially, many TFSA deposits were placed in daily interest savings or short term GIC accounts, and thought of as “emergency funds”. It’s a good start, but one that impedes the real growth potential of a TFSA.

The 2011 cumulative contribution limit of $15,000, provides fertile opportunity to lower income taxes and grow your net-worth at the same time.

How can you grow your TFSA more effectively?

  • Consider your TFSA as a “Life Long Account”
  • Choose equity investments over GIC’s or
  • Choose longer term GIC’s
  • Deposit eligible contributions early every year to maximize tax savings
  • Ensure both your TFSA and RRSP savings are strategically integrated

Did you know?

A TFSA can help reduce OAS or EI claw backs. TFSA income NEVER causes claw backs of OAS, GIS or EI benefits. RRSP/ RRIF income can and often does result in reduced Federal Government benefit payments.

We can help you maximize the benefits this new wealth building tool creates. If you are unsure your current TFSA and/or RRSP accounts are structured to your best advantage – call us at (204) 774-9494. We would be happy to provide an objective analysis of your holdings and where appropriate, suggest more effective growth strategies.

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Nakamun Financial has now merged with ONYX Financial Group.  To contact us directly, we can be reached by phone or email as follows:

Blair Smith
ph. 204-777-6699
em. blair@onyxfinancial.ca

Bob Challis
ph. 204-777-6699
em. bob@onyxfinancial.ca

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