The Tax Free Savings Account (TFSA) has become the most important investment account for Canadians. Each person in Canada over the age of 27 has $52,000 in total contribution room. For a couple, this now means $104,000 that can be completely sheltered from tax. By opening a TFSA and maximizing unused contributions up to $104,000 per couple and continuing to contribute $11,000 per year at 6.5%, the household TFSA balance will be over $1,000,000 in 25 years. (Illustration provided below)
Our Creed Capital Balanced Portfolio returned 11% over the last 12 months as of June 30, 2017. On an account balance of $93,000, the TFSA would have grown by $10,230. If you have not yet maximized your TFSA contributions, you will be able to catch up in future years. However, you will never get that $10,230 of growth back. The contribution limits have reached a level where delaying this strategy any further is detrimental to long term wealth.
Please visit our homepage @ www.creedgroup.ca and click on the “Open an Account” link. In less than 15 minutes, we can start the process for you to become a Tax Free Millionaire.
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National Bank Financial is an indirect wholly-owned subsidiary of National Bank of Canada. The National Bank of Canada is a public company listed on the Toronto Stock Exchange (NA: TSX). National Bank Financial is a Member of the Canadian Investor Protection Fund. The particulars contained herein were obtained from sources we believe to be reliable, but are not guaranteed by us and may be incomplete. The opinions expressed are based upon our analysis and interpretation of these particulars and are not to be construed as a solicitation or offer to buy or sell the securities mentioned herein. The opinions expressed herein do not necessarily reflect those of National Bank Financial. The securities or sectors mentioned herein are not suitable for all types of investors. Please consult your investment advisor to verify whether the securities or sectors suit your investor's profile as well as to obtain complete information, including the main risk factors, regarding those securities or sectors.