TFSA EXPLAINED | EVERYTHING YOU NEED TO KNOW ABOUT THE TAX FREE SAVINGS ACCOUNT FOR BEGINNERS

In this video, I explain all the basic rules of the tax free savings account (TFSA) and why it is the most powerful tool we have for investing in our personal finance journey. This guide is awesome for new Canadians, international students, and those just starting to invest. Stay until the end of the video to hear about the new TFSA contribution limit announcement for 2023!

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00:00 INTRO
00:53 WHAT IS A TFSA (TAX FREE SAVINGS ACCOUNT)?
01:39 THINGS TO KNOW ABOUT A TFSA
03:26 WHAT KIND OF INVESTMENTS CAN BE PUT INTO A TFSA?
03:47 WHO CAN OPEN A TFSA? (TFSA REQUIREMENTS AND ELIGIBILITY)
04:21 WHY IS TFSA A POWERFUL INVESTMENT TOOL?
06:55 WHAT ARE THE CONTRIBUTION LIMITS?
07:57 HOW DO THE CONTRIBUTION LIMITS WORK?

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» MY $176,000 TFSA DIVIDEND STOCK PORTFOLIO REVEAL - JUNE 2022 - CANADA
» MY ENTIRE TFSA STOCK PORTFOLIO REVEAL | DIVIDEND GROWTH INVESTING | CANADA | UPDATE #5
» MY $171,806 TFSA DIVIDEND STOCK PORTFOLIO REVEAL | CANADA | UPDATE #2

****Disclaimer****
I am not a financial advisor, CPA, mortgage broker or real estate agent. The content in my videos must not be taken as professional advice. This is a YouTube video for education and entertainment purposes ONLY. Please contact a qualified professional for advice and do your own research.

#stockportfolio #dividendportfolio #tfsa #canadianstocks #passiveincome #dividendincome #dividendgrowth #dividendstocks #dividendinvesting #rrsp #taxfreeincome #canadiantax

[mr.financial]

Hey guys, add your questions about TFSA's for part two of this series. I'll make sure to address all of them in my next video!
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[Rickenbasturd]

Hey sir financial, recent sub here through YouTube and blossom. I love what your doing on both platforms. I’d like to suggest maybe trying to get on Spotify with your videos as it makes listening to your progress easier in the background and broaden your audience! Look forward to seeing your presence expand!

[CanuckDividends]

Great video. Good explanation. It is a very simple concept but can be confusing

[karlosm]

Made the over contribution mistake once. In 2009. It cost me $359.00 in fines. Lesson learned, Never Again.

[TFaour]

this video was better than the last i watched on your income. nice editing boring content.

[pamtrace]

what happens if a canadian citizen moves to another country? do i have to close my account?