Despite its name, the Tax-Free Savings Account (TFSA) isn’t really designed to be just a savings account. Parking your money in cash or a high-interest savings product inside it is a complete waste of what this account can offer. Here’s why: The TFSA is one of the most powerful tools available to Canadian investors. Any…
Image source: Getty Images Exchange-traded funds (ETFs) continue to be a preferred investment vehicle for many investors looking for exposure to the market. Whether an investor is looking to actively pick individual stocks or simply own the market, there’s a place in every investor’s portfolio for ETFs. These funds can allow investors to build a…
Image source: Getty Images In 2024, the average Registered Education Savings Plan (RESP) balance for Canadian families is around $30,000. However, this can vary depending on how early the plan was started and contributions made. Even so, with government grants and investment growth, many families aim for that sweet spot to cover a chunk of…