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10 Essential Facts About TFSAs

7. TFSA withdrawals don't affect eligibility for benefits

7. TFSA withdrawals don't affect eligibility for benefits

7. Withdrawals don't affect your ability to qualify for federal benefits such as the Canada Child Tax Benefit or Old Age Security (OAS) - so you're not penalized for saving.

10 Essential Facts About TFSAs

1. TFSAs aren't just for older folks.2. TFSAs can include stocks, mutual funds, GICs, etc.3. Your money grows tax-free4. You can have more than one TFSA at different banks.5. You can withdraw and replace funds as needed.6. Your unused contribution room can be carried forward.7. TFSA withdrawals don't affect eligibility for benefits8. The advantage of TFSAs over RRSPs at retirement9. Your money is safe.10. You can save for the short-term, or the long-term.

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