Financial literacy tip of the month – TFSAs
TFSA: Totally Financially-Smart Asset
No matter where you are in your education career, think of a TFSA (Tax-Free Savings Account) as one of the smartest ways to invest. Whether you’re looking for a bit of extra cash to ‘build your own gratuity’ (to add to your pension income during retirement), maximize the summer months, or finally take that 4-over-5, the sooner you get a TFSA with Educators working for you, the sooner you can make those financial dreams a reality. To take full advantage of the tax shelter, don’t invest your TFSA in just anything. Most banks may steer you into a super-safe savings plan or guaranteed investment certificates that offer very low interest, limiting your TFSA growth over time. For better growth potential, look to stocks or mutual funds.
Click here to see how an Educators Financial Group TFSA can potentially get you greater returns.