At Curious Clan, we believe in curiosity backed by action. So today, let’s talk about something that sounds like a dream — but is completely possible: 👉 Turning your TFSA into a $2.8 million tax-free portfolio. Sounds wild, right? But it’s actually realistic — if you start early, understand the basics of investing, and most…
The Tax-Free Savings Account (TFSA) is a cornerstone of financial planning for millions of Canadians, offering a truly remarkable benefit: tax-free growth and withdrawals on investments. It’s a powerful incentive to save and invest, allowing your money to compound without the constant drag of taxation. However, like any powerful tool, the TFSA comes with specific…
So, you’ve got a TFSA. That’s awesome—seriously, well done! It’s one of the most powerful tools Canadians have for growing their wealth tax-free. In my last post, I broke down the basics of the Tax-Free Savings Account—what it is, how it works, and why it’s not just a savings account. If you missed that one,…
Introduction: “You’ve already learned about the power of Tax-Free Savings Accounts (TFSAs) and their vital role in your financial strategy. Now, let’s turn that knowledge into action. This guide will walk you through the simple process of opening a TFSA with Wealthsimple, a platform that makes investing accessible and efficient for Canadian residents.” Why Wealthsimple…
Introduction: Okay, let’s be real. “Tax-Free Savings Account” sounds about as exciting as watching paint dry, right? Wrong! This little acronym, TFSA, is your secret weapon to building serious wealth in Canada. Imagine: your investments growing, and not a single penny going to the taxman. Sounds good? Let’s dive in and turn you into a TFSA…
The most important thing that I could suggest someone with respect to wealth building is start investing early. You will be amazed how power of compounding will make you wealthy if you start early. What is Compounding? Compounding is when your investments generate returns, and those returns start earning even more returns. Over time, your…
In 2000, twins John and Jane were born. For their 10th birthday, their father gifted them a unique present: $500 each, with the promise of another $500 every year until they turned 25. John, a social butterfly, decided to spend his annual gifts on birthday celebrations with friends. Jane, however, took a different approach. She…