Tax-Free Savings Accounts: Common mistakes to avoid with your TFSA

[@walkwithorr]

In terms of what to choose in the ETFs, I find that if u pick S&P500s, MSCI Worlds, Nasdaq 100 & FTSE100 u will win. These ones grow by double digit % within a short space of time. The SA top 40 does grow but at a snails pace.

[@sandrathring-ck9fc]

WOW, from 36k to 2.9M 😄 that is the most interesting thing I have ever heard. I will consider that one Thank you Mapalo. You are a star. Considering this with Allan Gray

[@SophiaChloé6f]

My life changed too when I started doing this and putting money in stocks. The first few years it as really great, but this year I haven't felt like my portfolio is doing well. I have lost more than $40,000 from my portfolio the past four months, and it's now very worrisome.

[@LincolnFelix-s4z]

The year has been really rough for everybody. But I've been able to cushion the effect though. Have you thought of using an investment advisor? They can make you good money especially during uncertain times like this.

[@AbigailOliviaq4l]

Yes, I agree. I use a financial advisor too. Same person since 2020. I don't worry about whether the economy is going up or down or sideways. I always ride through.

[@GraysonNathan-v8y]

Oh, really? I have never thought of that as an option. Can I ask who it is you've been working with? I bet I could use some help myself.

[@AbigailOliviaq4l]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@GraysonNathan-v8y]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@DigItProtea]

This is super helpfull, in my third year of my TFSA❤

[@HeyNcamiHey]

Very insightful, thank you ❤

[@bloomwithKels]

Thank you for the awesome video. So, are you saying on that last part here 17:50 , that you can only open one tax-free saving account so that your life-time limit is not impacted vs having multiple tax-free savings accounts?

[@mphomaseko9226]

Thanks Mapalo 👏 I have one, opened it 2 years ago.

[@amanda-j9g]

Thank you for your time and for this insightful video. Very informative ❤

[@dineosibanyoni18]

Thanks, Mapalo❤

[@refilwesechabatselana2532]

Thanks for the information! Can one have more than 1 TFSA under one’s name?

[@lusanivhangani2768]

Yes you may, as long as you keep track of them all to make sure the total contribution doesn't exceed R 36K/pa.

[@katlegoratshidi5070]

This was extremely informative- Tysm

[@maphutichokoe1739]

Hello Mapalo. I have a tax free account with stash liberty and I wanted to know if a wise move

[@paballopule9929]

One thing about Mapalo, she will plug you! From there, it's your choice😅

[@tinyikokhosa9471]

Hi,can I open a tax free account with one of the big banks?

[@beewest5704]

Yes the all have TFSA's

[@MapaloMakhu]

🥰

[@Lucky23Gal]

Can I transfer my tax free to a different entity. I have with a bank and think I need to open with likes of coronation

[@MapaloMakhu]

@@Lucky23Gal yes you can. contact the asset manager with which you'd like to transfer to, open a tfsa with them and let them know that there is one you'd like to transfer from the bank and they'll assist you with forms

[@maseabatamoshoeshoe6262]

Love this

[@nonsikelelokambule1680]

Hey, Nna am saving R5000 per month does that means am doing it wrong😮?

[@MapaloMakhu]

yep! it must be up to R3K per month, anything above that will be taxed at 40%!!!!!

[@thandiwetshabalala6332]

You are doing right Until you reach 36k for the year. You can even invest lumpsum of 36k once a year

[@EnoughpowerTV]

In tax free account? For 12 months? You doing it wrong.

[@banelekekana9365]

First!😅💯