The Tax-Free Savings Account (TFSA)—a registered account that lets your investments grow tax-free—just got its 2025 contribution limit announcement: a cool $7,000. But if you haven’t maxed out your TFSA for 2024 yet, don’t wait! This year, you’re also eligible to contribute $7,000. Since TFSA contribution room is limited, it’s important to be strategic. The…
Canadians can use their Tax-Free Savings Account (TFSA) limit to build diversified portfolios of investments to meet their retirement goals. A TFSA is useful for anyone who wants to get tax-free income in retirement to complement earnings from other sources, including Canada Pension Plan (CPP), Old Age Security (OAS), Registered Retirement Savings Plans (RRSPs), and…
Image source: Getty Images Tax-Free Savings Accounts (TFSAs) are a fantastic tool for Canadians to grow their wealth tax-free. However, certain activities can raise red flags with the Canada Revenue Agency (CRA). Understanding these issues and how to avoid them is a smarter choice that can help keep your account safe and growing. So, let’s…
Kinross Gold (TSX:K) and B2Gold (TSX:BTO) are two of Canada’s best-known gold mining companies. Both are relatively large gold producers that mine and sell gold for the world market. There are many similarities between the two companies. Both are actively acquiring new assets. Both are usually profitable. Both pay dividends. These qualities make Kinross and…
Image source: Getty Images The TSX is trading near a record high after a strong rally in 2024. Investors seeking dividends for passive income are wondering which stocks might be good to buy on the next dip. Enbridge Enbridge (TSX:ENB) trades near $60 per share at the time of writing compared to $47 a year…
You thought $1,000 was too high for just one share in 2019. When that share crossed the $2,000 mark in 2021, the previous $1,000 looked cheap. This cycle repeated, and the stock crossed the $3,000 mark in November 2023, the $4,000 mark in July 2024, and is now heading to cross the $5,000 mark. This…
The Canada Pension Plan (CPP) enhancement is a government initiative aimed at bolstering retirement income for Canadian workers. Introduced in 2019, this enhancement is being phased in over several years to gradually increase both the contribution rates and the benefits received. The primary goal is to ensure that future retirees have a more substantial and…
TD Bank (TSX:TD) and Bank of Nova Scotia (TSX:BNS) are the second- and third-largest Canadian banks by market capitalization right now, respectively. The stocks have delivered very different performances this year, and investors are wondering if TD stock or BNS stock is currently undervalued and good to buy for a self-directed Tax-Free Savings Account (TFSA)…
The Canadian equity markets are upbeat this year, with the S&P/TSX Composite Index rising by 21.2%. Easing inflation, interest rate cuts, and optimism over Donald Trump’s victory have improved investors’ optimism, driving equity markets higher. Despite the upbeat markets, a projected global economic slowdown, ongoing geopolitical tensions, and uncertainty over the impact of the proposed…
A 10% yield often spells trouble. And this 10% dividend stock is going through troubles. However, it has the resources to recover from these challenges and benefit from long-term secular growth. The stock in question is BCE (TSX:BCE). The telco has come under fire for several reasons. A restructuring of a giant like BCE made…