How To Use Tfsa To Make Money. How to Invest in TFSA account. I wont get into the RRSP versus TFSA debate here but if you have lower income and you dont need the tax deductions with an RRSP using your TFSA as a retirement account may make more sense for you.
An RRSP only works if you end up in a lower tax bracket in retirement than when you were working. If youre thinking of helping your kids with a major purchase consider giving them money to contribute to their TFSA where it can compound tax free. Unfortunately most people dont know how it works.
Invest your TFSA with a robo advisor.
How to Invest in TFSA account. For the first time more Canadians have TFSAs over RRSPs but theyre not using them effectively. An RRSP only works if you end up in a lower tax bracket in retirement than when you were working. How to use your TFSA to make money instead of as just a place to park cash.
