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Should It Be Called A  "Savings Account"?

Back in 2009, I'm pretty sure the banks lobbied the Government hard to call the new Tax-Free vehicle a "Tax-Free Savings Account". When you hear that name, the first place you think of is the neighbourhood bank. The name may say Savings Account, but it is not unlike the RRSP (Savings Plan) or a RRIF (Income Fund)  when it comes to what you can actually invest in.

A lot of Canadians have money sitting in "High Interest" accounts at the bank, not knowing that they can invest their hard-earned dollars in virtually ANYTHING they want.

Hear my thoughts on this in the latest episode of Financial Kenversations below

Financial Kenversations - TFSA: What's in a Name? What Can I Invest In?
Also, head over to the blog to read an article I wrote about How Holding Cash Might Be Holding You Back. With this ongoing pandemic, you may have some extra cash sitting around due to lower expenses and less traveling. Why not use it smarter and invest for the future....and pay no more taxes on the gain.
VACATION ALERT     It has been one full year since I have been working from home. With that, it has been a full year since I have taken any time off. Since I can't go anywhere this year, I will be taking a mental break and am shutting off my phone on Friday for a week. I will be back the week of March 22nd so please, if you need to speak to me, book a meeting below. I'll see you then. Stay safe!
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