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Tag: TFSA

TFSAs and your retirement

Read how you can use a Tax-Free Savings Account to help boost your retirement savings.

When Canadians turn their thoughts to retirement savings, it is the Registered Retirement Savings Plan (RRSP) that typically first comes to mind. This is understandable as the RRSP program dates way back to 1957 and remains a popular way for Canadians to build their retirement savings. One of the primary features of an RRSP is … read more

How I’m making my TFSA work for me

Learn how Barry Choi uses a Tax-Free Savings Account to save for his retirement.

On January 1, 2009, the Canadian Government introduced Tax-Free Savings Accounts (TFSA). The concept was “simple”; every year, any individual who is 18 years old or older and who had a valid Social Insurance Number could contribute/invest a set amount of dollars. For the first year, the maximum allowable contribution was $5,000. I put simple … read more

Tax Free Savings Account: The basics

Rubina Ahmed-Haq explains the basics of a Tax-Free Savings Account.

The Tax-Free Savings Account (TFSA) turned ten this year and since 2009 everyone in Canada over the age of 18 and who has a valid social insurance number (SIN), is eligible to open a TFSA. However, despite being around now for a full decade, many Canadians still don’t understand how a TFSA works and how … read more

A stay-at-home parent’s guide to retirement savings

Tips for retirement planning for stay-at-home parents.

We’re pleased to welcome Rubina Ahmed-Haq as a writing contributor to the Oaken Blog. Rubina is a highly regarded personal finance expert, and provides her thoughtful commentary for media outlets including the CBC and Global News. Rubina also writes for several magazines, and has her own website at alwayssavemoney.com. We’re especially excited to announce that … read more

RSPs, TFSAs and your retirement strategy

RSPs, TFSAs, and your retirement strategy

The Tax-Free Savings Account (TFSA) was frequently in the news during last year’s federal election campaign. TFSAs made headlines again when the newly-elected government followed through on its pledge to roll back the TFSA annual contribution limit. With the RSP deadline now looming, conversations are once again turning to TFSAs and the annual question of whether … read more

Finance Minister Bill Morneau confirms TFSA roll back

There was no mention of reducing the annual TFSA contribution in last Friday’s throne speech, however Finance Minister Bill Morneau confirmed the following Monday (December 7) that the $10,000 annual contribution limit would be rolled back to $5,500. In an interview with CBC Newsworld on Monday morning, Morneau stated that the $10,000 limit would remain … read more

Back to school—at any age

It’s that time of year again, when students and their parents get ready for school. But you don’t have to be a kid—or have kids of your own—to be involved in this annual fall ritual. School can be for everyone, as more and more adults are discovering … read more

RSP or TFSA? Both can play a role in retirement

We all know that RSPs are the long-established favourite retirement vehicle for Canadians. But their younger cousin TFSAs are gaining popularity too. Each has its own strengths, and with the 2013 RSP deadline coming up on March 3, now is a good time to look at both … read more

New year, new look

With the launch of Oaken Financial, we’ve got a new look! We felt that our focus on new products and services to meet your needs called for a fresh design for our newsletter. But this is just part of what we’ll be bringing you in 2014 … read more