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Some Timely Advice For TFSA Investing

February 9, 2017

I really look forward to NEMA's quarterly publication, The Private Investor.  They have some really informative articles about the Exempt Market specifically but also about investing overall.  Their newest issue is out and an artcle that immediately caught my eye, considering the season, was "Building Wealth with Advanced TFSA Strategies" by Colin S. Ritchie.  He has some excellent strategies to maximise the benefits of a TFSA account and some that you may not have thought of or know about at all. 

I also liked the author's take on opening a TFSA the traditional way.  He says, "some financial institutions still seem to market these tax shelters as simply a glorified savings account that pay an interest rate that doesn’t keep up to inflation. Since the actual interest returns are so miniscule in the first place, the fact that they are tax-free is essentially irrelevant. It’s like using a tourniquet on a paper cut: a lot of effort for very little benefit". 

It can be very helpful to look outside of the box when it comes to growing your TFSA and Exempt Market investments can certainly be a part of a diverse mix of products to accomplish that.  I hope you enjoy the article.