The 2022 TFSA dollar limit is $6,000. This brings the total lifetime contribution limit to $81,500 for those eligible.
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Perhaps as a result of a confluence of factors — buoyant markets, social media influence and today’s ease of investing — we have been receiving more questions about young investors who want to open up a Tax-Free Savings Account (TFSA) for investing purposes.
With the return of autumn, many families have turned their attention to school. If (grand)children are off to pursue post-secondary education, the rising cost of higher education may be top of mind. As investors, we have the opportunity to assist (grand)children with education at all levels. For starters, we can provide advice about money, teaching the fundamentals of saving, investing, and taxes. We may also choose to put aside financial resources to support the cost.