In Canada if you live at home, live frugally, and invest all your savings into broad market low cost etfs in your tax free savings account- you'll be a multi millionaire tax free
>>222903053>tax free savings account-What??
>>222903128in canada you can open a tax free savings account- an investing account- where you don't pay taxes oninvest in nvidia at 10 cents and it appreciates to 100?you're a multi-millionaire tax free
>>222903053This is the hope protecting me from the permanent underclass hopefully they don't patch this free money glitch
TFSA have a contribution limit. It's good but not something exploitable.
>>222903159Whats the catch
I only have $18K in mine.
>>222903256You pay taxes when you cash out. Don’t listen to this dipshit. Also etfs aren’t good for a long horizon investment. OP had greased up by a Raj investment advisor at RBC and thinks he’s hot shit. Can’t wait for the rugpull. It’s deflation for the next 30 years.
>>222903408>You pay taxes when you cash outdumbass
>>222903256Relatively small contribution limit and no tax loss harvesting.
>>222903423Yes that is a TFSA.
>>222903408>etfs aren’t good for a long horizon investmentWhy not?
>>222903408>You pay taxes when you cash outthat only applies to RRSP
>>222903408what the in the world are you on about if OP's advice is "raj" then yours is durgatesh vishramanablamistan
>>222903498Because ETF’s frequently change the stocks they invest in. They beat inflation but that’s not saying much. >>222903537Dog you dipshit, you pay taxes when you cash out your TFSA. TFSA are a glorified savings account that you gotta pay taxes when you want to cash out.
>>222903654>you pay taxes when you cash out your TFSAprovide your sourcehttps://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/withdraw.htmlnowhere on the website does it mention paying taxing for withdrawing. the only thing related is paying a 1% penalty if you contribute over the limit
do white canadians even exist anymore
>>222904069No.
>>222903654What are some better options?
>>222903498Because he's retarded
>>222903408>Also etfs aren’t good for a long horizon investment.Global and national ETFs have strong return rates in the long term and have the advantage of not needing to study trends and sell funds. VT is up 22% in the past year. Commission-free ETF trading is also standard at IBRK and WS.
>>222903654You don't pay taxes on TFSA only RRSP
fug…
>>222903053How does one get an Alyssa gf.?Just wondering...
>>2229049957 inch cock 7 feet tall 7 figure income
>>222903408I wish we would kill all the ira, 401k, 403b, HSA, FSA, 529, Trump etc accounts and instead just allow deferral of gains for everyone all the time. So you pay income tax, you put money in any account, it adds to the basis, you do whatever you want with it UNTIL you want to spend the money, and you pay cap gains on it then pro rata.
>>222904995Just be Mexican
>>222903654Retarded ass leaf
