Why a Tax Free Savings Account (TFSA) could work for you
In 2009, the government passed legislation that would allow Canadians an alternative method of saving for retirement. The TFSA was introduced to give people more flexibility with their money. As you know with RRSP's, that money is generally locked in until retirement, that is of course you are willing to pay back the tax savings that you received when you took the RRSP deduction on your taxes. Generally speaking, the TFSA is more of a "pay as you go" type [...]