Podcasts about tax free savings account

MEDamorphosis Podcast presents “It Makes Cents”, a mini-series aimed at improving the financial education of medical students across Canada. Host Ali Jatoi, a medical student with a past life in finance, discusses personal finance topics in these short-form podcast episodes. In the third and final instalment of the series, Ali covers Budgeting and the Tax-Free Savings Account (or TFSA). Tune in to learn about why budgeting is important, where to access free online budgeting templates, and how to take advantage of the most effective savings account to reach your financial goals, the TFSA. Listen now and make finance “make cents”. Hosted and Edited by: Ali Jatoi Music: Dr. Ian Downie New episodes of MEDamorphosis are available each month. Subscribe to never miss an episode. Please rate, review, and subscribe to our podcast and explore the entire UBC Medicine Learning Network roster of podcasts on Spotify, Apple Podcasts, and where you find your podcasts. (C) UBC Medicine Learning Network. All Rights Reserved.

Sara-Jayne Makwala King speaks to Nico Katzke, Head of Portfolio Solutions at Satrix about tax-free savings accounts and some essential factors for South Africans to bear in mind when using a Tax Free Savings Account or TFSA for investment purposes.See omnystudio.com/listener for privacy information.

In this insightful episode of "Think Smart with TMFG", Rob McClelland and Mike Connon, veteran financial advisors, meticulously explore the benefits, functions, and strategies associated with the Tax-Free Savings Account (TFSA). Initially introduced in 2009, TFSA is presented as an excellent investment tool especially beneficial for retirement savings for Canadians. The seasoned hosts delve into core features of Tax-Free Savings Accounts — outlining their distinct aspects compared to conventional savings accounts, explaining the tax-free growth feature, and showing the multitude of investment opportunities it provides. They also shed light on its comprehensive advantages such as yearly fund additions based on new limits, option to replace withdrawn funds, and potential to amass substantial savings. The discussion goes on to examine the key differences between TFSA and other savings accounts like RRSP and the newly introduced first home savings account. They caution listeners about excess contributions and highlight the convenience of having multiple TFSAs but with meticulous contribution tracking. The topic of posthumous handling of a TFSA is also broached, stressing the benefits of nominating a spouse or child as a successor annuitant or beneficiary. Additionally, the episode delves into unique strategies to boost tax-free growth, making it an essential listen for anyone seeking to leverage a Tax-Free Savings Account in Canada fully. Detailed case studies illustrate the use of TFSA for managing cash flows, avoiding OAS clawbacks, and facilitating non-taxable gifts. Unique advantages of TFSA are discussed, such as designating beneficiaries, including charities, without rewriting your will, functioning as an income source during high-tax years, and its usefulness in buying non-primary real estate property. The hosts round off by touching upon other practical uses of TFSA like short-term goal planning, creating passive income, and saving for educational expenses. Gain an in-depth understanding of TFSAs and how to tailor it for your specific financial needs in this comprehensive episode.

Africa Melane is in conversation with Gareth Collier, Director and Certified Financial Planner with Crue Invest - he's walking us through a tax-free savings account?See omnystudio.com/listener for privacy information.

The Toronto Caribbean Carnival is fast approaching. Community Reporter, Stephen Ricci lets us know more about it (0:00). What is a TFSA or Tax-Free Savings Account? Ryan Chin shines a light on this during our financial chat (12:24). What are the top priorities and concerns of today's multigenerational workforce? Michael French from Robert Half chats with us about their latest insights (28:27).

On today's podcast we're doing a deep dive into the Tax-Free Savings Account, or TFSA for short. Michelle Munro, Director of Tax and Retirement Research breaks down the advantages of a TFSA, explains the tax benefits, and touches on a very important topic of how the TFSA differs and complements other investment options available to Canadians such as the Registered Retirement Savings Plan and the new First-Home Savings Account. Michelle joins host Emily Anonuevo today, and also covers why both young Canadians and those in or nearing retirement should consider a TFSA. We'll also hear about the types of investments someone can hold in a TFSA, as well as key rules you need to be aware of, such as how savings room and limits are calculated, and rules surrounding withdrawing, among other topics. Recorded on June 7, 2023. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics' Advisor Digital Experience Study.

RRSP vs TFSA? If you've always wanted to know exactly what a Registered Retirement Savings Account or a Tax-Free Savings Account is (but didn't want to ask a human and Google provided some contradictory search results) we've got you covered. Tune in and enjoy. 

Do you have a little cash to invest, but find that overwhelming financial jargon stops you from investing? Do you REALLY understand the difference between retirement funds, tax free investments and unit trusts, and why you should invest in one and not the other? In today's episode, I demystify all of it!

Guest: Magda Wierzycka | CEO at Sygnia Group See omnystudio.com/listener for privacy information.

I've got a special episode for you today. We're talking about one thing and one thing only: infinite banking with whole life insurance. I'm excited to welcome Chris Miles back to the podcast to learn more about taking advantage of this powerful tax strategy. Chris is the founder of Money Ripples and an Anti-Financial Advisor. He's the ‘Cash Flow Expert' and has a ton of experience and knowledge on infinite banking. It's something that we both use in our portfolios, and I wanted to dedicate an episode on this topic to share with all of you. In our conversation, we'll define exactly what infinite banking is, why it's way better than a traditional savings account, and what you need to know to make this strategy part of your investment portfolio. Key Takeaways with Chris Miles What it really means to have a supercharged tax-free savings account using whole life insurance. How insurance companies allow you to get credit against cash while achieving as much as a 33% rate of return on your money. Why the tax-free savings account is not a ticket to financial freedom–and what it can be used for. Why many people are misinformed about how to take advantage of insurance systems–and how insurance agents don't always have your best interests in mind. The steps you can take right now to add infinite banking to your arsenal. Want the Full Show Notes? To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/305 Rate & Review If you enjoyed today's episode of The Accelerated Real Estate Investor Podcast, hit the subscribe button on Apple Podcasts, Spotify and YouTube so future episodes are automatically downloaded directly to your device. You can also help by providing an honest rating & review over on Apple Podcasts. Reviews go a long way in helping us build awareness so that we can impact even more people. THANK YOU! Connect with Josh Cantwell Facebook YouTube Instagram LinkedIn Twitter Sign up for the Forever Passive Income Partnering, Mastermind and Coaching Program with Josh Cantwell To unlock your potential and start earning real passive income, visit joshcantwellcoaching.com

On Financial Matters about the difference between tax-free savings account vs retirement annuity and the new rules surrounding your pension.See omnystudio.com/listener for privacy information.

This week – we come to air with the sounds of Video Killed the radio star playing loudly in our heads. We are making the transition from audio to video – moving from a strict podcast to a YouTube show with interactive video, screen sharing and more and we can't wait to expand on this format. Watch the Youtube Show HERE! This week's show kicks off with a bang as Aaron debates Brennan in a no holds barred analyst showdown. The company in the crosshairs is Algoma Steel (ASTL:TSX) an integrated steel producer in North America with raw steel production capacity of 2.8 million tons per year. Aaron argues the Bull Case and Brennan tries to wrestle him to the ground with the Bear Case. Ryan will sit in as judge jury and executioner. Ryan will give you 6 things you need to know about the TFSA or Tax Free Savings Account including why it is not for the rich, what you can put into it and the contribution limits. Brett will handle our Star and Dog of the week. The Dog of the week is Context Logic (WISH: NASDAQ) which has seen its share price drop 51% in 2022. The company's e-Commerce platform, allows third parties to list products to sell to customers who purchase through its visual-based mobile app. The Star of the week is Viemed Healthcare Inc. (VMD:TSX) and should be no secret to KeyStone clients having been a recommendation over the past 4 years since it traded in the $3.85 range – today the stock trades in the $10.00 range. Viemed, which provides in-home durable medical equipment and post-acute respiratory healthcare services in the United States, has seen its share price jump 38.32% over the last month and 60.38% since the April BUY recommendation. 

This week I am focusing on TFSA's and clearing up some common misunderstandings to help you ensure you maximize the benefits you achieve from your investment portfolio. One of the most common questions I get as a wealth advisor is: “Which type of retirement account should I put my money into…an RRSP, which is a Registered Retirement Savings Plan, or a TFSA, which is a Tax Free Savings Account? Which one should you put your money into? Here's what you need to know to make the right decision for you:1.    Realize a TFSA is an investment account, not a savings account. 2.    Use your TFSA is for any windfalls you may receive3.    Keep track of your contributions and withdrawals4.    Understand the residency requirements5.    Make your spouse a successor holder, not a beneficiary ResourcesHow do your TFSA contributions compare to other Canadians your age?https://www.theglobeandmail.com/investing/markets/inside-the-market/article-a-peek-into-the-tfsas-of-the-nation-average-account-sizes-for-all-ages/CRA Tax Free Savings Account Guidehttps://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4466/tax-free-savings-account-tfsa-guide-individuals.html Connect with GloryRead  the Women's Wealth Canada Blog Get the Guide: "12 Smart Questions to Ask When Interviewing a Wealth Advisor"Book a Free Wealth Consultation with Glory Gray at hello@womenswealth.caWebsite: WomensWealth.caTwitter: @WomensWealthCAFacebook: @GloryGrayWealthSolutionsLinkedIn: Glory GrayMusic"Awe Whistle, A (H1).wav" by InspectorJ (www.jshaw.co.uk) of Freesound.orgOther incidental and theme music by Purple Planet MusicThis podcast is for informational purposes only and should not be construed as investment, tax or legal advice. It is not an offer to sell or buy or an endorsement, recommendation or sponsorship of any entity or security cited. Mutual funds offered through Portfolio Strategies Corporation. Other products and services provided through Glory Gray Wealth Solutions. 

GUEST HOST Rubina Ahmed Haq talks with Phil Soper, President and CEO of Royal LePage  ABOUT Budget 2022: Tax-free savings account coming for first-time homebuyers. See omnystudio.com/listener for privacy information.

Download your WealthSimple and open up your TFSA today! (plus get a free stock!)If you loved this episode, be sure to follow, share and leave us a review we'd so appreciate it! Join the Debt Decluttered course now to create a healthy money mindset and a strategic debt pay-off plan! Money Coach, Jolene Stahn welcomes you to the Waitressing to Wealth podcast. Waitressing to Wealth is not your average millennial finance podcast - we're getting real, ditching societal norms and all that horrible financial jargon. Jolene started her journey waitressing with $200k in debt and was able to build wealth and become debt-free in just 3 years. Tune in to get actionable tips, learn how to build your wealth, and gain inspiration from real and relatable conversations on how others have built theirs! Your journey to wealth starts now! Follow along so you never miss a valuable episode! If you loved the show please spread the wealth by sharing it on Instagram and tagging @jolenestahn

Let us take you into the world of tax-friendly investments by asking and answering a simple question. To TFSA or to RA?Uhm!We invited the one and only Maya Fisher-French, a titan in the personal finance arena, to compare between the two main tax-efficient investment vehicles in the world of finance. Maya simplifies the Retirement Annuity (RA) and the Tax-Free Savings Account (TFSA), while also highlighting the benefits of either one, the similarities between the two, the rules that govern them both, and which type of investment is best for someone not looking to pay heavy taxes. Both the TFSA and the RA are available on EasyEquities, and the best part is that you can have both!Hit the play button for this incredibly insightful conversation with Maya as she drops a wealth of knowledge for our community.Share the love with us on social media by letting us know what you think of the episode by tweeting @EasyEquities or tagging us on the gram!To sign up to EasyEquities: http://bit.ly/2EtcE85DISCLAIMER: EasyEquities is a product of First World Trader (Pty) Ltd t/a EasyEquities which is an authorised Financial Services Provider. FSP number: 22588. This material is not intended as and does not constitute financial advice or any other advice and is neither exhaustive nor prescriptive. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by EasyEquities (as a separate financial services provider).

Mpho Putini talks to Thendo Tlou about a Tax-free savings account.

Maya speaks to financial planner Terence Tobin of Rich Ideas about ways to cut your tax bill whilst growing your investments. They unpack the pros and cons of retirement annuities, how to use a Tax-Free Savings Account for tax planning in retirement and what products to stay clear of. 

Today we have our last podcast and Q&A for 2021! Find out what Warren Ingram says around where best your money would be when receiving a large lump sum, paying off your bond, your car, in your TFSA account or investments? We also find out more about when leaving a job, what is the best route to take when getting your RA paid out, is a Preservation Fund the way to go and what considerations should be taken into account. Topics/ Questions: I have a lump sum of money, where best would it be, in my bond, paying off my car, in my Tax-Free Savings Account or should I invest it? I am leaving my company and need to know what the considerations are with Preservation Funds? I am not inclined to go the RA route. Have any questions? Don't forget to send questions through to our WhatsApp on (+27) 72 934 4218. Follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod

On this episode of The Chatroom Podcast; Senator, Coach and SA are joined by Sham & Mike of The Black Sand Podcast. On this episode the group discusses the new Meek Mill album, Wale, Lil Wayne and more music. Then the group starts to discuss the importance of RRSP/401ks, Tax-Free Savings Account, breaking down financial terminologies, and a lot more financial advices. The best part about the discussion is hearing from 2 different perspectives on financial freedom, so take a listen and tell us which one you agree on. The Chatroom Podcast comes out every Tuesday and you will be find us on YouTube and on all streaming platform at the same time, so don't forget to like, rate, subscribe and share. Also do not forget to follow The Chatroom Podcast on Instagram (https://www.instagram.com/the.chatroompod/) and follow The Black Sand Podcast on Instagram (https://www.instagram.com/blacksandpodcast/).

Warren Ingram answers your questions around calculating your returns with inflation in mind, where to invest a large lump sum of money short-term and where to save your money, in your emergency fund or your TFSA.  Questions/ Topics:  How do you calculate your real return on investments when you look at a fact sheet of an ETF? Should you consider inflation and deduct it from your returns?  My in-laws have about 500k in their accounts and they want to invest it somewhere. What's the best place for them to invest this money?  Is it better for me to save more in my emergency fund or max out my Tax-Free Savings Account instead?Got a question after listening to this episode? Don't forget to send us your Voice Note questions on WhatsApp to (+27) 72 934 4218 and follow us on Twitter, LinkedIn and Subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod

Environmental, Social and Governance(ESGs) is one of the non-financial factors that investors are now taking into consideration when picking investment funds or stock . In this episode ,ETX Expert, Nerina Vissers simplify ESG-focused ETFs and how one can look at it as part of their investment strategies. We also touch on Capital gains tax in both discretionary account and Tax-Free Savings Account.The difference between a feeder fund ETF and Funds of Funds ETF is also explained.

Paul Roelofse, Certified Financial Planner on how to take advantage of the Tax Free Savings Account.  See omnystudio.com/listener for privacy information.

In this session, originally recorded on October 28, 2020, we asked Nora Beatty and Alex Mazer to share five good ideas for building financial health through the workplace. With over 40% of Canadians living paycheque to paycheque, more employers are asking what they can do to increase the financial health of their staff. Alex Mazer and Nora Beatty of workplace retirement plan provider Common Wealth share their five good ideas to help you build financial security in the short and longer term. As an employer, you will come away with ideas you can take to reduce financial stress for your employees; as an individual, you will learn ways to make your hard-earned savings go further. Five Good Ideas Make the business case for employee financial health (HINT: it’s not just “nice to do”) Take advantage of Tax-Free Savings Accounts Keep fees low Provide education on accessing government benefits Make savings automatic Related resource: Healthcare of Ontario Pension Plan, Common Wealth and the National Institute on Ageing, “The Value of a Good Pension: How to improve the efficiency of retirement savings in Canada” (2018) (learn about the surprisingly large financial value of a good workplace retirement plan – and what makes a plan “good”) John Stapleton, Open Policy Ontario, “Toolkit: Low Income Retirement Planning” (2020) (learn about the importance of the Tax-Free Savings Account, and other strategies to maximize income in retirement for modest earners) Larry Bates, “T-Rex” fee calculator (see how much of your returns are being eaten up by high fees) Prosper Canada, Financial Relief Navigator (find out what government benefits you might be eligible for) Ontario Securities Commission (access financial education tools and resources approved by one of Canada’s most prominent financial regulators) For the full transcript, visit https://maytree.com/five-good-ideas/five-good-ideas-for-building-financial-health-through-the-workplace/ About Nora Beatty and Alex Mazer Nora Beatty is the Director of People Operations at Common Wealth. She is passionate about people and connecting innovative people strategies to better business outcomes. Nora’s journey in HR started at Oracle, and since then she has had the opportunity to join some of the most exciting tech companies and start-ups in the city. Before joining Common Wealth, Nora built out and led the People function at Hubdoc, and supported the deal team during the acquisition by Xero. Post-acquisition, Nora took on a broader operations role, supporting some of the GTM initiatives, while also leading the People function. Alex Mazer is a Founding Partner of Common Wealth, a mission-driven business that works with associations, unions, and groups of employers to provide value-for-money, collective retirement plans that combine user-friendly technology, digital retirement planning, low-cost investments, guaranteed lifetime income, and a fiduciary duty to members. The company’s focus is on constituencies

Tax free savings accounts are an excellent way to save and invest, most especially if you plan to invest for a long time. As Zama Dikana from Old Mutual explains, they attract no tax which gives you a higher return on investment than you would otherwise get. If you don't already have one, and you have extra cash, no matter how little, available to save and invest, you should certainly open a tax free savings account (“TFSA”). Zama discusses the rules and limits for TFSAs, how to invest on behalf of your children and he answers some questions from a loyal listener. Mentioned in this episode: If you're just getting started with investing, listen to this episode we did called “Buying Shares a Beginner Guide” https://www.familyfinanceshow.com/podcast/episode/4b887ffa/buying-shares-a-beginners-guide-simon-brownDisclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider and Life Insurer. This material is not intended as and does not constitute financial advice or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. Product information provided by the contributor only serves to inform you of Old Mutual products but does not replace the terms and conditions and technical detail applicable to the products or services mentioned. It should not be construed as a offer or recommendation to buy or sell the products featured without obtaining the recommended financial advice.   The views expressed by the contributor are his or her own, and may not necessarily reflect the views held by Old Mutual.Join us on twitter for real conversations about family finances:@FamFinanceShow@DianaGranouxWebsite: www.familyfinanceshow.comSubscribe on your favourite podcast platform:https://podlink.to/FamilyFinanceShow

While assessing your long term financial goals weigh up the best combination of financial products for your personal circumstances and needs. This includes tax efficiency, availability of investment funds, value for money, cost structures and access tothe funds if you require them. Michael Kirkpatrick, the head of individual consulting best practice at Alexander Forbes, runs through what you need to know when deciding between a tax free savings account or a retirement annuity. See omnystudio.com/listener for privacy information.

The start of a year is a great time to re-assess where we are in our journey to financial well-being and turn our attention to creating a financial plan for the rest of the year. One of the most important aspects of this planning is considering the best combination of products in the market for your personal circumstances and needs. This includes tax efficiency, availability of investment funds, value for money, cost structures and access to the funds if you require them. With the tax year end fast approaching, Michael Avery sits down with Michael Kirkpatrick, head of individual consulting best practice, to talk about what the most tax effective way is to save for retirement.

Michael Kirkpatrick – Head: individual consulting best practice, Alexander Forbes

Dan Noel is a portfolio manager with Wyverstone Capitol and I-A Securities.

In honour of Christmas this Friday, this week's episode is the first ever Fat Wallet fairytale, written by Suzanne for her daughter Nina.  Happy Holidays, everyone! Win of the week: Suzanne I just want to say thank you for the great work that you are doing. I know that we as a society tend to use the word EMPOWERING quite loosely, but there is no better way to describe how I personally have experienced this whole journey into personal finance. I also feel it has made me a better parent to my kids – that can now guide and empower them on their own road to financial independence.  I attach a little Christmas Fairytale I wrote for my daughter,  that I hope you will enjoy – and as a little ode to a Fairy Godmother that you may recognize…… A CHRISTMAS FAIRYTALE FOR MY DAUGHTER As smart as a whip, and with a feisty personality to match, Princess Nina was considered by all to be quite the catch. But frowns of worry have been darkening her day, For on the eve of her sixteenth birthday, she was unsure of her way…….   “OH”, she cried, while munching on her two-minute noodles, “This world has to offer me oodles and oodles, Yet I am unsure of what I need to do! I know I am a Princess, and being one too, Cinderella and Rapunzel I should probably like you, And don't forget Snow White, she is in the mix too.”   “But, being rescued has never really been my vibe, I think I am more part of the Katniss Everdeen tribe. I wear my hair in a bob, and can really whack a hockey ball, I don't really mind people, but love dogs more than all.”   “I have no desire to be rescued by a prince, To me that sounds about as appealing as a bowl of pets mince! I don't want to toil away my days in some remote castle tower, I want to learn Korean, travel the world and find my own Power!”   It was then that it happened, in a flash she appeared, The extremely tall fairy godmother, all mothers-in-law feared… She was known through the land from north to south, For her sensible advice ….and her potty mouth.   “Girl”she exclaimed, ”I heard your pleas, And I think you are cooler than the fucking bee's knees, So in your future there will be no dwarfs, prince's or even a count….. What you get is a Tax Free Savings Account.   With the whip of her wand, she quickly set about, to set up an Easy Equities TFSA account…. “That is it”, she cried,” my magic is done!” “Now, my dear princess, starts all the fun.”   “You will go out into the world, and chase those dreams!, But you will also be smart, and live within your means. You will graft at your craft, and your joy will be astounding, You will also be saving a shitload, and experience the magic of compounding.”   “This blessing and wisdom I bestow upon you, Is not one to be horded, but for you to share with other princesses too. So should Cinderella come crying about her boring days, Or Rapunzel curse about her man's whoring ways…….”   “You can exclaim: “Girl, I hear you cries, so let me sort for you, the truth from the lies….. You don't need to live your life as prescribed, Where fate is fate, and choice is denied.   You don't need a blesser, or a large inheritance amount, You need a Tax Free Savings Account!”

Episode 7: The Tax Free Savings Account is unquestionably the Greatest Of All Time (

Catch up on what you missed on The Rush Hour. Hosts Elvira Caria & John Scoles speak to Ian Crookshank, Humber College Dean of Students, about students returning to or entering college during COVID-19. Employment lawyer Lior Samfiru on what to avoid before taking on a new job. Greg Carrasco on how to keep an employee. Entrepreneur Andrew Grella on his makeup line called Formen & Kelvin Rampersad explains how to use a tax free savings account.

Do you understand how a Tax Free Savings Account works? Are you putting your money into one every month? If not, you're honestly missing out. These are widely recognised as the greatest gift to South African investors. In this episode Warren speaks to entrepreneur and author, Marnus Broodryk, about Tax Free Savings Accounts and how you can use yours to buy a range of different investment instruments. Follow us on twitter for additional content and news: @HonestMoneyPod

Quick-Show Notes:In this episode of The Millionaire's Lawyer, JP and John Abbenda discuss:John has built his empire on trust and respectClients when they walk in are uncomfortable and nervous, put their minds at ease and treat them how you would like to be treated.Time to time you will face a storm, and even your investments might take a hit.Having a strong foundation is really essentialIf your financial does not sit down and talk about the following, you should reconsider whom you are hiring:GoalsFamilyChildren?Retirement PlansWho YOU areWhat are YOU interested in?Nothing moves in a straight line so don't expect your investments to eitherJohn loves to work closely with his clients, he wants to be #2 on speed dial!A Tax-Free Savings Account is a great investment and has more opportunity than people thinkDollar-Cost SharingThe balanced portfolio contains:CashEquityStocksHaving a Will and planning your Estate is more important than most people think, and no, the $50 Kit will not do.Make sure your clients are covered on all bases and put them in touch with the right professionals.Do not chase the money, the money will follow good serviceWhen the client walks in, don't look at them like they are only their investment. Make them feel comfortable, get them a glass of water,  do not try to impress them. You want to ensure they understand you and feel comfortable with you.Reputation takes a lifetime to create, but a second to abolishHaving a strong foundation means you have:QualityDiversityReview it periodicallyLet the markets do what they do - go up and down.Be proactiveDive DeepTomorrow is a promise to no one.Connect with John Abbenda:613-564-2004john.abbenda@rbc.comConnect with your host, JP:TwitterInstagramFacebookWebsiteShow:LinkedInEmail: jpmcavoy@conductlaw.comPhone: 1-833-890-8878

What is a TFSA? How do I invest tax free? Where should I invest? What about fees? This week I discuss this and how to get started. Probably the best investment product to have in your portfolio is a Tax Free Savings Account. Investing for unlimited tax free growth and one day drawing that as an income, entirely tax free, can there be anything better? Please send your comments and questions, via podcast@richideas.co.za and please reach out via WhatsApp voicenote to 083 337 9576

TFSA is one of the best gift the federal government has given to the Canadian population. However, many of us do not understand it and thus do not take advantage of one of the best tax-efficient accounts. If you are thinking of planning for your financial future, you MUST understand TFSA!

TFSA is one of the best gift the federal government has given to the Canadian population. However, many of us do not understand it and thus do not take advantage of one of the best tax-efficient accounts. If you are thinking of planning for your financial future, you MUST understand TFSA!

TFSA is one of the best gift the federal government has given to the Canadian population. However, many of us do not understand it and thus do not take advantage of one of the best tax-efficient accounts. If you are thinking of planning for your financial future, you MUST understand TFSA!

Margin Account VS Cash Account  Hey guys, today we're talking about the difference between a margin account and a cash account and I mean who doesn't like margins and who doesn't like cash? Am I right? I'm Rob Tétrault from robtetrault.com, Head of the Tétrault Wealth Advisory Group here at Canaccord Genuity Wealth Management.   Types Of Accounts Ok, a cash account and the margin account. First of all, these are non-registered accounts, this is different than obviously a registered account. What is a registered account? That would be an RRSP, a RIF, a LIRA. I should probably define those acronyms. A RRSP Registered Retirement Savings Plan. The RIF is the Registered Income Fund. The LIRA is the Locked-In Retirement Account. These are all pension type accounts where you've invested over time, year by year and you will be drawing down on this in retirement. Your LIF is also one. And then you also have the TFSA, which is the Tax Free Savings Account. Those are all traditionally defined as registered accounts. There are typically tax consequences involved with either drawing down on them or contributing to them, etc. The cash and the margin account. These are non-registered accounts. So the main difference for you, first of all, is there's no tax benefit whatsoever to contribute to that account. There's also no tax consequences when you're pulling the money out of the account. Now that doesn't mean that when you're pulling money out of the account, you're not going to have to sell an asset class, which would generate a potential capital gain.   Taxable Consequences  The key difference is taxable accounts, so the margin in the cash account or taxable accounts, meaning that the income that is being generated in those accounts is taxable income. If you're getting interest income that's taxed at the highest tax bracket, it gets added to your T4 income. If you're getting dividend income from a Canadian eligible dividend, you get a dividend tax credit. If you're getting a capital gain, well then you're paying tax on half of the amount of the capital gain. And finally, if you're getting return on capital, you're not being taxed in the year it's received. You're deferring that capital for the future. Those are generally the four types of taxable consequences that you receive in your two accounts. Cash Accounts  Now, what is the actual difference between a margin and a cash account? in a cash account, the key factor is that you must at all times have enough cash in the account to meet the requirements of the stocks and securities you are purchasing. In other words, you cannot borrow any amount of money to purchase securities in your cash account. If you have $100,000 in your cash account, you can purchase $100,000 of securities, not a dollar more. So there is no lending that's going on. And if ever you were to accidentally buy more than a hundred thousand dollars, stocks will settle a few days after you buy them. Stocks or bonds will settle a few days after you actually purchase them in the market. And you would immediately be asked to either deposit more money depending on the institution, or they would actually sell those assets.  

Hi All, In today's episode, I am going to discuss "Saving for Canadian Millennial Professionals". My top 3 tips for Saving as a Canadian Millennial Professional are: 1. Set aside 10% for Saving How do we set aside enough for saving? We make sure that when our paycheque comes in we have 10% or less of our money automatically deposited to a savings account of our choice. Preferrably, a Tax-Free Savings Account or Registered Retirement Savings Plan. These particular accounts will help your $$$ grow tax free either in the short term or the long term depending on your financial goals. My personal recommendation on what account to use? Utilize the Tax Free Savings Account the most. This account you don't get penalized for taking your money out when you need it, and it can grow tax-free while you have $$$ within the account. Things to save for in your TFSA: College Tuition Buying Second Hand Vehicle Vacation Pet The above are just a few examples of things people save for in a TFSA. The reason I don't recommend an RRSP right away is you get penalized in the short-term to take the money out. An RRSP is still a great vehicle to save your money and grow it tax-free, its just not a wise choice in the short-term. RRSP's are meant for long term saving for things like: Retirement Down Payment on a House or Condo RRSP's are beneficial for long term saving and also help you save on your taxes at the end of each year. By contributing to your RRSP, you can deduct a percentage from your income taxes each year. Once you contribute some funds to the RRSP before the end of the tax year, you can get this money back from the goverment to help you continue to save even more. 2. Don't Just Save Don't just save for the sake of saving. Saving is meant for you to either invest your money or spend it. Just saving money will not do anything. Save for something specific within 5-10 years like some of the examples mentioned above. We are in a low interest rate market in Canada and have been for many years now. People don't make any interest just having money in their savings account. It's what you have within your savings account that helps you make interest and truly grow your savings at a steady pace. Some investments to have within your savings account: Index Fund-Investing in a portfolio of stocks that tracks an index like the S&P 500, Dow Jones, or NASDAQ and is passively managed to help you save on fees Stocks-Investing in different stocks within your TFSA, RRSP, or Investment Savings Account Mututal Fund-Pool of Investors $ put towards a certain type type of fund with several different types of stocks within them 3. Open a No Fee Bank Account The final ingredient for your saving money is opening a no fee bank account. No Fee Bank Accounts are becoming very common now adays. By saving on banking fees, you will be able to put more of this money to saving for the things that you want. Some people pay up to $150 a year in banking fees and that is crazy! That money is better in your pocket than the banks. The key with saving is minimizing your fees and expenses overall. Having a bank that charges you no fees or little fees will help you with your finances in the long run.

A tax-free savings account is an incredible way to save without paying tax on interest, dividends or capital gains. This allows your money grows faster than it would in a regular savings account.

When it comes to saving and investing money, there are two acronyms that cause confusion for many people.We're asked all the time to help clients decide whether to use aTFSA or RRSPto prepare for retirement.On this episode of WealthBeing, Travis and our guest, Lorena Milkert, Director of Retail and Business Banking at Island Savings, will make it simple to understand how the Tax-Free Savings Account and Registered Retirement Savings Plan work, when they're a good fit for your goals, and a few times you might want to opt for other savings methods.  :54–Money Problem:A couple was working with Travis to figure out how to balance their different income levels, pension, and savings plans so they would be best prepared for retirement. 1:40 – Derrick, Travis and Lorenaexamine common questions and strategies related to TFSA and RRSP investing:  how RRSPs and TFSAs are used to save money for retirement; maximum contribution limits for TFSAs and RRSPs; getting the best tax benefits from TFSAs and RRSPs; how and when to withdraw from TFSA and RRSPs; strategic use of spousal RRSPs; special rules for US investors; using small, frequent investments to build large retirement savings; which is the best option – TFSA or RRSP. 21:45– Weekly Financial Fix. Travis challenges you to do some research to fully understand your income needs and financial resources during retirement. 

On this episode, I'm joined by Kris Read, a Certified Financial Planner from RBC. We discuss the benefits and advantages of the Tax Free Savings Account. The Tax Free Savings account was introduced by the government in 2009, and continues to be one of the most misunderstood investment vehicles in the industry. Kris and I shed some light on how the TFSA works, major benefits, and who should use it. We address the age old question, 'Should I investment in my RRSP or my TFSA'?

Anyone over the age of 18 in Canada can open up a Tax Free Savings Account. It is one of the best investment options available to Canadians! Learn more about it on today's podcast! Don't forget to check out www.achieve-fire.com for more tips and tricks on your journey to FIRE!

When it comes to saving and investing, it can be intimating to navigate the terminology. Get a primer on the Tax-Free Savings Account (TFSA). Amanda McKay, Branch Manager and Mutual Funds Representative with Scotiabank in Slave Lake, explains the ins and outs of the TFSA in a simple and easy-to-understand manner.

Rob: Hey guys, I'm Rob Tétrault from robtetrault.com, head of the Tetrault Wealth Advisory Group here at Canaccord Genuity Wealth Management. I am pumped today. We've got a fantastic guest. Good buddy of mine, Cam Goodnough. I mean we tried to get someone else, but he's good enough for now. That's a joke. I'm really excited to have him here. We're in Winnipeg. He's in town. Not every day we get a CEO of a publicly listed company on the TSX in town chatting in our office in Winnipeg. We're thrilled to have you here Cam.   Cam: Thanks for having me.   Rob: Yeah, it's our pleasure. So, today we're talking about private debt. We're going talk about your story a bit. I want to hear how you got involved with financial services. I want to hear about Timbercreek, their role, how you see it fitting. Really, private debt has changed a lot in the last 10, 15, 20 years, even 50 years. It's a lot more available now than ever was, and we'll talk about that in a sec too. Let's talk about you and how you started in financial services industry. Where are you from originally?   Cam: A town called Smithville, Southern Ontario – small town, about 2,500 people. My parents are both from Saskatchewan and it was great. It was a kind of a Huck Finn existence until you were about 14 or 15, and then all you want to do is get out of that town. My travels took me to university. I went to the University of Windsor, got my undergrad in commerce. Ultimately, still didn't know what I wanted to do with my life as you're pretty young and you're still figuring things out. I ended up going to do my grad work at, my MBA, and my law degree at Osgoode Hall and Schulich at York University,   Rob: That's an okay university, but I went to U of T, it's a little better for my law school, but anyways…   Cam: (Chuckles) and that's where I found out about investment banking. I come from where I came from. It wasn't a topic of conversation around kitchen table and that's it. And it was at that school, at that point that I found out about investment banking, started exploring what, what that meant, what that would look like and that was my start in financial services. Out of school, I joined Merrill Lynch in their corporate finance group. And you know, back then, late ‘90's, spend a lot of time on technology and technology IPOs and that ended in the early 2000's had to reinvent myself. And at that point …   Rob: So, you were actually an investment banker late ‘90's with the tech run up in the tech wreck?   Cam: Yes.   Rob: Oh, that must've been really exciting.   Cam: It was, you're working on some fantastic deals. Some really interesting companies. You'd have story. I mean, I'm not necessarily going to dive too deep today, but there were some ludicrous things that were happening at valuation, valuations and multiples of number of engineers in terms of figuring out how you value a pre revenue company and you really opened your eyes. And that really set the foundation for me around value and what is it that I'm paying for and what am I really getting for what I'm paying for. And that that's has stuck with me. In 2001 when you had the start of the collapse of NASDAQ, I was still young at this point and mobile in terms of profession and in terms of focus area, and there was an empty seat available in the financial services area of the firm. So, I made the move from technology, pre-IPO financing stuff to financial services, spent a lot of time digging into banks and insurance companies and wealth managers and I really found an affinity for wealth managers. Particularly when you were covering somebody who was a really good investment professional who understood value. Speaking back to my lessons through the tech bubble, crash, whatever you want to call it, that was really my start in my introduction to, not just private debt, but just wealth management generally around the different asset classes. How does this strategy work? How does that strategy work? What are the pros and cons of the various strategies?   Rob: Were you advising wealth advisors, or were you a Wealth advisor at that point?   Cam: At that point I was advising the companies themselves, whether they're publicly traded like a CI or financial, or whether they were private companies, we were delivering and whatever financial services they needed funding in terms of fund launches or in terms of capital market needs, raising debt, raising equity, mergers and acquisitions, that sort of thing. And that really fueled my interest in the space. At this point, I'm now at RBC and then ultimately culminated my career at TD. At TD, I found this young company called Timbercreek. They were small and they weren't particularly well covered by the large institutions and I've got to really know the two founders there, spent a lot of time with them, raised, started raising them capital for the predecessor funds to typically financial and ultimately in 2016 advise them on the merger of a couple of their companies that created at the form Timbercreek financial. And it was out of that, Hugo and Blair talked to me about joining Timbercreek. At that point, having spent 17 or 18 years in investment banking, it was a chance to do what I'd been on the other side of the table, what I've been advising others to do.   Rob: So now you're CEO of Timbercreek financial, it's 2016.   Cam: Yes.   Rob: At that point Timbercreek financial had a focus on private debt exclusively. Correct?   Cam: Correct.   Rob: So, what's your view on it, and what are the first things you do with respect to Timbercreek?   Cam: Well, the first thing that we did was assessed the, the risk of the portfolio. That to us was – is – a fundamental tenant. We felt that where we were in the real estate cycle, was probably later than earlier in terms of, you know, what inning are we in. So, we started de-risking the portfolio. What that means for private debt, we're a commercial real estate lender. So, all we do is commercial real estate. We don't do single family residential mortgages. Our sweet spot is between $5 and $50 million. We love apartment building.   Rob: What would be the loan to value that you'd be doing on these projects?   Cam: Our average portfolios are about a billion to, would be 67%.   Rob: And is this exclusively mezzanine financing, kind of short-term stuff?   Cam: It is short term, but it's not mezzanine, it's first mortgages. So, we're providing first mortgages to real estate companies who are transitioning an asset from or executing a value-add strategy. You can call it either one. So, they're looking for a short-term bridge solution to take this property from point A to point B or rather the other way around. Take a B asset and make it an A asset, or a C asset and make it a B asset. And at that point we'd get taken out by traditional financers, whoever that is, who have lower cost of capital than we have, or a sale of the property, which we get rebates. So, our typical mortgages are two years, our average duration in the portfolio ranges. But 1.1, 1.2 years.   Rob: And this private debt has been around for a while and it serves a ridiculously important purpose because these developments don't happen otherwise. Right? Like you've got a building that needs to either expand or maybe scale up, add some stories. I'm thinking maybe in Toronto and Vancouver.   Cam: Absolutely repositioning them. I'm renovating them. I'm leasing them up if they're unreleased or are under market rents. And so, you know, historically this activity was done by the financial institutions. but there was, as the regulations have evolved the need to hold more capital against certain kinds of projects versus other kinds of projects. And you've seen a really huge number of entities created over the last 20 years, but really heavily in the last 10 years that are focused on providing private alternatives for professional investors to access debt capital while they're executing the projects. And so, our niche –I've talked about some of that stuff and our differentiators – is that we are flexible. We don't have 10,000 mortgages. We have, you know, a 125-150 mortgages. So, we're flexible in the, you were customizing mortgages each time too, to the borrower's needs. We are a real estate company first and foremost. We understand the real estate. We're a financial provider secondarily, meaning we're making an assessment on whether we like the real estate, and if a downside scenario were to occur, would we be happy owning this at our loan devaluation, which is very important, and could we complete the other part? Could we complete the project? That's being done. So, do we like the property? Do we like the sponsor, who's behind this project? And thirdly, do we like the plan, and do we believe that we need, you know, more apartments in Winnipeg? Do we believe we need more office space in Toronto? Whatever that is. If we agree with the thesis and we have faith in the sponsor, and first and foremost, have felt and touched and walked through the actual real estate and we liked the location. If those things all tick, that's a project that we can get behind at the right LTV level.   Rob: Okay, so now you've been CEO. Fast forward a few years. You're CEO, you're running Timbercreek Financial. The stock is doing well, the stock is yielding, the stock pays what kind of dividend?   Cam: On market price, just over 7%.   Rob: So, the unit holders end up buying the stock at trades on the Toronto stock exchange. They buy the stock. In theory they hold it, they collect the dividend. That's a quarterly dividend?   Cam: That is a monthly distribution.   Rob: Monthly distribution. You're getting your annual yield to call it about 7%. In theory, the stock should hopefully in your mind, would it grow over time in theory? Is that the plan?   Cam: Well, we are what I would describe as a, people shouldn't own us thinking that there's capital appreciation, right? We are a yield play, or at the end of the day we are a portfolio of mortgages. We lend a dollar and if we do our job right, we get 100 cents back; we don't get 105 cents back, we get 100 cents back. We collected interest on the way through and we flow all of that interest income out to our investors. So, it's literally holding the investors should think of it as holding a portfolio of mortgages and they're getting a yield out of it and that the share price is publicly traded. So, there is daily ups and downs, but you shouldn't be thinking there's a 10% increase or decrease. It shouldn't be that volatile.   Rob: Right. I'm glad you mentioned that because this is not, you know, owning real estate or this is not owning a company like a publicly traded equity where you're hoping to get a yield plus growth. This has a very clear niche. When you talked about access to investors. So Timber, you know, when I grew up, you couldn't access private debt like this was not possible. You couldn't out and just buy access $2 billion, you know, a $100 million or $1 billion fund managers that could actually manage private debt for you. So that's now changed and it's impressive, I'd say.   Cam: Yeah it has changed. The whole world is changing, particularly post financial crisis, you've had, investors who might've not liked that roller coaster ride and you've had this insatiable drive towards yield and stability and uncorrelated returns. That's happening at all different sophistication levels of the investors. So, at the pension funds and the large endowment funds that the Harvard's et cetera, what are they doing there? They're moving towards private assets. They're moving towards owning physical real estate, private debt, private equity, infrastructure, energy, and their public components are decreasing. And that capital has allowed, and they need to source that capital. This isn't like a stock. We can't just go out and buy a bunch of private debt. We have to have a team that goes and finds these deals and, and has relationships with the developers and the project managers and then have an underwriting team that has to go through the credit and make sure that we're satisfied that all the numbers tie, and that all the environmental reports, and the appraisals, and the engineering reports, and everything else is tied down. Because again, we're lending a dollar and getting 100 cents back. We don't have upside. We don't want to have downside either. So, we have to do all of our work and then finally we have to service that mortgage. So, we need to go out and make sure we're getting in the interest payments. We're running, it's not a bank, but it is a component of what a bank does. Banks are much more diversified.   Rob: Managing the risk for sure would be an important one.   Cam: Absolutely. Absolutely. So, you know, we lever, we've got an independent board of directors, who have experience in various facets from legal, to accounting, to real estate, to other, we leverage their expertise. We leverage the full team at Timbercreek, across the firm.   Rob: So, you know, you're preaching to the choir. Not sure if you know, but those who do follow me, either at the, at robtetrault.com or my YouTube channel, they do know that I've been preaching this exact strategy of diversifying outside of asset classes, typical stock and bond asset classes. The big thing for me is uncorrelated assets, right? If we can get an asset class that generates returns, no matter what happens in the stock market, no matter what happens in China, no matter what happens with President Trump; that to me is an uncorrelated asset class in something that should be in a portfolio. So, who do you see as kind of your ideal investors? Or is there an ideal investor?   Cam: Yeah. For us it's the investors that are – what we find is that the vast majority of our investors are moms and pops who are looking to generate a particular return on their profile, on their portfolio, who don't want excess volatility of their portfolio. They've got a number in their head. Maybe the number's five, maybe the number's seven, maybe that number is nine, whatever that number of return profile. And they're using us as a more stable income source and looking elsewhere for either a top up on a capital appreciation or elsewise. But we are a MIC, a mortgage investment corp, and as a MIC we don't have to pay corporate tax – that's the positive. The negative is that in the hands of the investors, our dividends are taxed as interesting cultures. It's as if they held the mortgages themselves directly and so it makes sense inside an …   Rob: RRSP, a Tax-Free Savings Account.   Cam: Exactly. Anything like that where you can shield that income without having to pay tax on it.   Rob: Yeah, for sure. Yeah. We'll ask you one more question about the correlation to interest rates relative to what you guys do. Is it a straight thing where interest rates go down, your yield goes down and interest rates go up and your yield goes up? Or is it more complicated than that?   Cam: If there are, it is a balloon and the moment, you squeeze on one part another part bulges, then you're squeezing on that part, and another part bulges. There's a correlation on rates in terms of overall, real estate activity. So as rates are declining, real estate activity generally is increasing. Now in 2018 we saw three rate hikes, 75 basis points over the year. And yet, 2018 was a banner year for real estate activity. So, it's not necessarily directly correlated, but overall there is interest rates or in, it looks like we're back in a declining rate environment again, and you know, that generally has a positive impact on real estate.   Rob: That's fantastic. All right guys. Blessed and lucky today to sit down with Cam Goodnough, the CEO of Timbercreek Financial. Really thrilled to have him here. Again, long line of quality guests that we have here. Happy to have you. Thank you for tuning in again. We appreciate it. Again, I'm Rob Tetrault from robtetrault.com, Head of the Tetrault Wealth Advisory group here at Canaccord Genuity Wealth Management. Give us a like, give us a share. Give us your comments. We'd love to hear from you. Thanks for tuning in.  

TFSA Investment Options  TFSA qualified investments  Many people have paid a lot of fines because they didn't follow the rules with respect to what is a qualified investment and we're going to cover what you can and can't put in your TFSA. If this is something that's on top of mind for you and you're wondering what you can put in your TFSA and you're not sure exactly how this works, then go to speaktorob.com. Full Video & Blog Article on TFSA vs RRSP  Let's take a look at what can and can't be in this specific account. First off, when the TFSA name came out way back in 2009, they named it the Tax-Free Savings Account. I personally would have preferred the Tax-Free Investment Account because what ended up happening is a lot of Canadians thought this was a savings account, similar to a bank savings account. They would put their cash, their hard-earned cash in a savings account and not in an investment account. Historically, investments have performed dramatically better than cash in a cash savings account. And yet all these Canadians, we're losing potential tax free gains on the TFSA over time. As you guys know, in the TFSA, all the growth, all the dividends, all the income and everything that happens in the TFSA is completely tax-free for life. It's liquid. You could pull it out and regain the contribution from next year. It's a super fantastic tool. Here's what you can put in your TFSA account: Money Straight cash GICs Term Deposits The above-mentioned investments can be done through a bank or credit union. Those will be lower earning investments. You could also put any securities that are listed on an exchange as well as shares of corporations: Warrants Options Units of exchange traded funds. Real estate investment trusts - REITs. Mutual funds Segregated funds. All of those are potential options. You can do: Canada savings bonds Provincial bonds Corporate bonds Debt obligations of a corporation that trades on a designated stock exchange. Debt obligations of anything that has an investment grade rating. Insured mortgages. Basically, think of any investment that you know of that's publicly traded and that's easily accessible. Most investments that the majority people are commonly aware of can be put in a TFSA. Now, why would you rather have shares of a company versus a term deposit? Let's say you have a growth tech stock like a Google or something similar in your portfolio and it grows. Let's say it grows at 10 or 15 or 20% per year, all of that growth is tax free and you're saving that tax on that growth. You're saving quite a bit of taxes versus the interest or the income on a 2% GIC. That's something to consider. First of all, the private corporations are one that people sometimes get confuse with and don't understand. Perhaps, you're an owner of a company that is also a private corporation. You want shares from the private corporation in your TFSA because you want to put in a deflated value and maybe you want to say the shares are worth five bucks, but in your mind they're actually worth 20. You might even know the shares are going to be sold at a future date for 50 bucks and you're trying to make a huge windfall in your TFSA. I would caution you! You should definitely speak to an expert about that. Either your account and/or a portfolio manager because CRA is likely to crack down on that and they're likely not going to allow it. The fines are pretty intense. They're pretty severe if you put a non-qualified investment in the TFSA. The type of shares that I would watch if I were you are definitely from private corporations. If you own a private corporation, private options that you own and in trust or even just straight up private options, those can certainly trigger alarm bells because they're technically not qualified. You should get an opinion from either your advisor or from your tax accountant on that. They could be a little complicated and we certainly don't want you to be caught offside with a non-qualified TFSA and end up losing all the tax-free growth. You would end up paying the tax on all that and the penalties, so we don't want that to happen. To reiterate, the following investments can go in a TFSA since they are qualified investments for that account: securities, bonds, stocks, preferred shares, debentures, mutual fund, seg funds, GIC and term deposits. The TFSA is an extremely useful tool for EVERY investor! Folks, it's very important that you have the investments that are either going to grow the most in your portfolio or the ones with the highest taxable impact on your portfolio. Ideally, in 20, 30, 40 years, we all have 500K to a $1 million dollar TFSA. That's the goal. We want to build in the TFSA over time to get that tax-free income for life. If you seek advice on your TFSA, please go to speaktorob.com, we'd love to chat about that more with you.

Host Trevor Dale talks about when to use a TFSA, Tax Free Savings Account.There are three primary considerations which are your debt, RRSP room available and expected retirement income.I talk about a strategy of how to more efficiently use your savings to reduce your borrowing costs.Plus I give on strategy when a TFSA could be used as a holding account for future RRSP contributions.Podcast available on iTunes, Spotify, Google Play and Stitcher.For a full writeup go to tkdale.com or https://tkdale.com/2019/09/12/when-to-use-a-tfsa/

Erin Lowry wants you to know that words have power, especially when it comes to your money. Saving and investing are not the same thing. For example, if someone is saving for retirement, they might not even be aware that they are actually investing their money. Very few people put their retirement money in a savings account. It's much more likely that if you have your retirement money invested in an index fund, or some kind of portfolio of stocks and bonds that are subject to risk and growth. But if we keep using the word “save” when we talk about retirement, we miss the opportunity to learn about our investments. If we say “invest” for retirement, you might be triggered to ask “What's my money invested in?” You might be thinking, Beau, everyone knows the difference between saving and investing, and people know where their retirement money is invested. Unfortunately, that's just not true. I read yesterday that 40% of Canadians keep their TFSA contributions in a simple savings account. Why are Canadians doing this? Well, it's in the name. TFSA stands for Tax-Free Savings Account. The Canadian government called it a savings account. But it's not a savings account. It's a tax shelter. Where the RRSP, or Registered Retirement Savings Plan, was created to save you taxes now, only for you to pay them later when you withdraw money in retirement, the TFSA allows you to take after-tax money you already have and protect it from ever being taxed again. So the TFSA is not for savings, because savings might grow, if you're lucky, at 1% per year. You can afford the taxes on 1%. What you want in your TFSA is your highest growth investments. If you have $10,000 in Canadian bank stocks, for example, and you say they are part of your TFSA, and then grow by 10% this year, you pay no tax on that 10%. Not this year or any year after that. That $10,000 could grow to $100,000 and you never pay any tax. So should this program created to shelter your investment growth from future taxes be called a Tax-Free Savings Account? Absolutely not. It's a terrible name and it's confusing Canadians. Words have power. Like the words "broke" and "poor" are not the same thing. This is something that Erin and I discuss in the episode, as she has now written two books: the first one is called Broke Millennial and the most recent one is Broke Millennial Takes on Investing. And there's a third book in the series coming soon, which we also discuss in the episode. Erin joined me from New York City to share her personal finance story. NEXT EPISODE 97 - Bridget Casey Click here to book a FREE 15-minute personal finance consultation with Beau Humphreys, Personal Finance Coach Click here to become a patron of The Personal Finance Show via Patreon To register for my next available personal finance webinar click here.

How to earn a yield of 9% - on average - but up to 13% in your TFSA, according to personal financial advisor Warren Ingram.

http://www.alainguillot.com/bob-lai/ Bob Lai is the host of the website Tawcan.com. He’s a personal blogger on a quest for happiness and financial independence. Bob Lai investment philosophy focuses on dividend & ETF investing, financial independence, early retirement, happiness, frugality, and finding the right personal balance between saving for the future and enjoying life today. Highlights from the interview Bob was fortunate because his parents started teaching him about investment since he was young. He started investing when he was in University. Graduated at the age of 24 with a degree in engineering. On 2011 he started devoting more time to investments. One of the early lessons Bob learned was to treat his credit card as if it was a debit card and never to miss a payment. Credit cards give an enormous amount of credit to young people to get them hooked on credit card debt. Some of those young people have little or no financial education and the easily fall prey of the credit card companies. Frugality is not being cheap, frugality is buying value. Don’t shy away from buying second-hand items. Don’t focus on getting the latest electronics. The main investment strategy is to buy stable dividend-paying stocks. In particular, bob like recognizable brand names, like the Canadian banks and the Canadian telecom companies. He owns some U.S. stocks and some international stocks, but there is tax withholding and currency transaction cost, so they are not prioritized. Bob likes to take advantage of the opportunities provided by the Canadian government in regards to his Tax-Free Savings Account and his Registered Retirement Savings plans. He likes to fill those accounts to the limit to earn money without paying taxes in his TFSA, and deferring the taxes until age 71 in his RRSP. We spoke about life as a blogger. A place where he gained early exposure was on the website Budgets Are Sexy, ran my friend J. Money. See the article here. See the previous interview with J. Money here. We spoke about Bob’s money coaching services. How to get drunk for the less amount of money. Wearing the same clothes for several days is a good way to save on clothing, on laundry and it’s a good way to pollute less the environment. Bob has a side business as a photographer.

TRC is bringin’ it! Cristina bites into a segment about dubious Health, or self-professed “wellness” bloggers and the potential hazards of their claims, and in some cases lies. Adam touches down with a detailed look into the origins of crop circles and the various explanations behind them. Finally, Darren dips into Tax-Free Savings Accounts to break down a political statement.

Plan for retirement now with a customized and continuous savings plan.

Plan for retirement now with a customized and continuous savings plan.

This week on Hull on Estates David Smith and Sarah Hyndman Fitzpatrick talk about estate planning in uncertain economic times. They discuss how the current economic situation has impacted estate planning and litigation and new tools (such as the "Tax Free Savings Account") to consider in creating your estate plan. Feel free to send us an email at hull.lawyers@gmail.com or leave us a comment on the Hull on Estates