If you’ve just opened a Tax-Free Savings Account (TFSA) and maxed out your $7,000 contribution room but aren’t sure what to buy, resist the urge to park it in a guaranteed investment certificate (GIC) that barely outpaces inflation. For beginners, my go-to choice is index exchange-traded funds (ETFs). These funds track broad market benchmarks made…
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 For an exchange-traded fund (ETF) to be a “buy and hold forever” for me, it needs to do just two things: be broadly diversified and have a low management expense ratio (MER). That’s it. Checking off these two boxes can set you up for long-term success without overcomplicating your portfolio. With…