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TFSAs made easy

Posted on January 26, 2018 | Updated December 20, 2018

A trip, a house, a car, a comfortable retirement… Do you have big plans? Start saving now, with a tool that performs! A tax-free savings account (TFSA) is just what you need.

 

An account like no other

TFSAs are accounts in which deposits can grow tax-free. New in 2019: the annual contribution limit is now $6,000! Can’t make the maximum contribution? Not to worry! You can roll over this contribution room year to year.

Let’s say you deposit $2,800 in your TFSA in 2019. The $3,200 difference will be added to the $6,000 limit next year. You will therefore be able to contribute $9,200, and so on. Over the years, you can save a lot!

And, if you’ve never contributed to a TFSA before, you can invest up to $63,500 in 2019!

 

The right investment products for you

For money to grow well, it needs to be invested properly, either in investments with fixed interest rates or market-linked investments. Savings accounts, term savings, guaranteed investment certificates (GICs), market-linked guaranteed investments, mutual funds… With so many options, you can make use of different investment vehicles, based on your profile and objectives. Need expert advice? Your adviser can help you choose a strategy tailored to your goals.

 

Make saving a habit

You don’t need to be rich to make your dreams come true! Depositing just $10, $15 or $20 a week in a TFSA will go a long way. Over the weeks, months and years, the money you accumulate generates non-taxable interest, which makes your investment even more profitable. It’s a lot more effective than a traditional savings account! Furthermore, you can make withdrawals at any time, which are never taxable—even the interest. Give yourself the means to carry out your plans … all your plans! 

Need advice? Your UNI adviser is on your side, there to help you determine which strategy will work best for you. Click here to contact us!

 

Mutual funds are sold and distributed by Acadia Financial Services Inc. Acadia Financial Services Inc. is a wholly-owned subsidiary of Financière Acadie Inc. which is itself a wholly-owned subsidiary of the Caisse populaire acadienne ltée. * Commissions, trailing commissions, management fees and other expenses may all be associated with mutual fund investments. Please read the prospectus or the Fund Facts before investing. Mutual funds are not guaranteed; their values change frequently and past performance may not be repeated. Unless otherwise stated, mutual fund securities and cash balances are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions.

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