TFSA: How to invest in a Tax-free savings account 2024 (step-by-step for beginners)

Рет қаралды 12,062

Күн бұрын

Пікірлер: 39

@LivinginCanada Ай бұрын

Watch this video next in case you're uncertain what to invest in first: 'TFSA vs RRSP vs FHSA: Which to invest in or max out first?' kzbin.info/www/bejne/jIW6qamHfZV8rrc Cheers!

@moniryousefian8782 20 күн бұрын

Thanks for the Great content 👍 Could you please share which stocks are your favorite within your TFSA ? Greatly appreciated 🙏❤😊

@mbahgugel271 24 күн бұрын

Years back after retiring, I talked to my bank Financial Adviser how to invest my RRSP into Mutual funds, it went down the hill. Someone told me to talk to Financial Planner instead, it was the same results, so I decided to put my TFSA into GIC 4.25% for 100 days. Stocks is hard for me to catch up when they are down as our sole incomes come from the government, maybe investing in stocks is more suitable for young brave souls.

@WarmGentz Ай бұрын

This is a great video! I just wanted to add a little bit more on the crypto portion. While it is true that you can't hold crypto in a TFSA directly, you are however able to buy crypto ETFs in a TFSA even though the amount of etfs available are limited. PS. you are gorgeous :D

@LivinginCanada 29 күн бұрын

You're right, thanks for adding that. Yes, that's a possibility!

@AG-hl1ni Ай бұрын

It's crazy how many Canadian do not use or know about the TFSA!

@LivinginCanada Ай бұрын

I hope more people will know about it and use it!

@MD.ANAYETKABIRLEEON Ай бұрын

plumber job apply video Please

@anonymousanonymously8216 Ай бұрын

I have a TFSA, it’s nice to have, however I don’t have it through the bank but through Sunlife and it grows pretty quick.

@LivinginCanada Ай бұрын

Awesome!

@JayB-JayB Ай бұрын

Thank you for the amazing info Living In Canada 🙂👍

@LivinginCanada Ай бұрын

Thanks, happy Friday!

@JayB-JayB Ай бұрын

@@LivinginCanada It's Friday??? Thank you for reminding me!😂 My dayz blend together at my job!😅 You look awesome as always btw!😊😊

@rakeenlewis 2 күн бұрын

Do you get back the money you withdrawal from your tfsa the following year ?

@GraceNguyen-tq1yd Ай бұрын

Thank you so much! Could you please provide the links to the other videos of yours that were mentioned? Thanks again for sharing!!

@LivinginCanada Ай бұрын

Thanks! This is the most important one to watch if you're uncertain what to invest in first: 'TFSA vs RRSP vs FHSA: Which to invest in or max out first?' kzbin.info/www/bejne/jIW6qamHfZV8rrc Cheers!

@GraceNguyen-tq1yd Ай бұрын

💕💕💕

@MohamedMahmoud-xx6zx Ай бұрын

Thank you for sharing!

@LivinginCanada Ай бұрын

You're welcome!

@snowflake9838 12 күн бұрын

Hello! Thank you for the informative video. I was wondering how to transfer stocks from margin to tsfa account. Are there any tax implications if I transfer only the market value of the stock that does not exceed my tsfa limit for the year?

@carlosmuntando7933 Ай бұрын

Great content. It is super clear on instructions too! Thanks. Also your Public Mobile affiliate link doesn't work anymore. I wanna sign up soon so could you check on your affiliate link?

@LivinginCanada Ай бұрын

Thanks so much! The Public Mobile link is correct, but you're right, sometimes it doesn't work and I can't change it. Cheers!

@blackgrandpa7652 Ай бұрын

Thanks as always great content 👌

@LivinginCanada Ай бұрын

Thanks, happy weekend!

@arasu3351 7 күн бұрын

Is it only for the residents or can people with just work permit can do it

@LivinginCanada 5 күн бұрын

The criteria is being a tax resident

@FelipeMaFr001 Ай бұрын

Hello, I'm a newcomer student and came here September 2024. I've created a TFSA account with Wealthsimple. Is my contribution room 7,000 CAD (because I'm here only from 2024) or the accumulated based on my age (even if it was outside Canada)?

@LivinginCanada Ай бұрын

Great question! TFSA contribution room only starts accumulating once you are a Canadian resident. To be sure, check your CRA account and see what's listed!

@stargutz2680 29 күн бұрын

Very helpful!!! I started investing when I watched one of your videos. I have a question, if I became a tax resident of Canada by 2019 and haven’t contributed to TFSA yet, will my contrib start in 2019? I checked my CRA and it says 77,000 but I watched a video and saw they are using this tfsa contrib calculator. It says that my contribution is just around 30k.

@LivinginCanada 29 күн бұрын

Thanks, glad to hear! If I look at the TFSA contribution table on canada. ca (www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html), the numbers from your calculator match better. Not sure how your CRA can state such a high contribution room-perhaps they calculated your start of residency different (which would also surprise me). To be really sure, I would give them a call to confirm so you don't miss out/overcontribute! Cheers!

@chriatopher14 Ай бұрын

I ask about that on my bank and says you are not allowed to have a tfsa accnt if you are not a pr or citizen by the way im a tfw

@LivinginCanada Ай бұрын

You don't have to be citizen or PR, but at least have a temporary work permit. At least with Wealthsimple and many other investment platforms the requirement is to be a resident of Canada.