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Old 12-09-2015, 08:31 AM   #2
First Line Centre
WilsonFourTwo's Avatar
Join Date: Apr 2009
Location: Calgary.

Although I'm disappointed to see the TFSA limit reduced back to $5500, I'm glad they didn't do anything dramatic like retroactively reduce the previous $10,000 limit..

I honestly think that the TFSA is the best (overall) tool for short/mid-term savings, including investments. I've used it for savings (make a few bucks while I'm building towards a goal) and as a tax-free way of investing.

The two things I like about them over RRSPs (which I am a fan of, in general) are that your can hold practically anything in them and that the rules for adding/removing funds are idiot-simple.....makes them a great dumping ground for 'spare' cash.

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