Making sense of the markets this week: March 3, 2024 + MORE Mar 5th
This 29-year-old has been laid off twice as a server and is starting from scratch, spending all his savings to study UX design. Living at home, he wants financial help + MORE Mar 20th
My three kids chose different educational paths. How do I withdraw RESP funds in a way that’s fair to them and avoids unnecessary taxes? + MORE Sep 4th
Canada’s best credit cards 2021 + MORE May 8th
Her transfer from one digital bank to another got lost — in the mail. Here’s why that can still happen + MORE May 30th
When are tax-deferred and tax-free accounts actually taxable?
– moneysense.ca
U.S. stocks in TFSA
U.S. stocks in RRSP
Canadian stocks in RRSP
–Tawheeda
A. It’s great to hear we motivated you to start investing, Tawheeda. Stocks are a great way to build wealth for the long term, despite the short-run volatility. Tax plays a role in your portfolio construction and returns, so let me explain the implications.
Tax-free savings accounts (TFSAs) are mostly tax-free. When you buy and sell an investment for a profit, that is tax-free inside a TFSA, regardless of the type of investment.
One exception could be if you are day trading in your TFSA. If you are engaging in frequent trading activity, there is a risk your profits could become taxable as business income. For most long-term, buy-and-hold investors, this is not an issue…
Best high-interest savings accounts in Canada 2021
– moneysense.ca
These are rates offered by Ratehub partners. You can find information about additional product options below.
You can compare high-interest rates in the table above or input your estimated account balance to compare the growth between HISAs, tax-free savings accounts, registered retirement savings plans and youth savings accounts…
Canada’s best credit cards 2021
– moneysense.ca
The best credit cards in Canada 2021
Card
Rewards / Features
Annual fee
American Express Cobalt
(get more details)*
5 pts/$1 on groceries & dining
2 pts/$1 on travel, gas & transit
1 pt/$1 on everything else
1 pt = 1% / up to 1…