The Tax-Free Savings Account (TFSA) helps investors save taxes. So, investors can achieve their financial goals faster without the hindrance of taxes.
Inside a TFSA, you can put cash, invest in guaranteed income certificates (GICs), government and corporate bonds, stocks, mutual funds, and exchange-traded funds (ETFs).
However, cash, GIC, and bond investments have historically generated lower returns than stocks. So, if you want to unlock the full power of your TFSA, you should consider investing in stocks or ETFs that are focused on equities. Due to their high MER fees, mutual funds will likely generate lower returns than their ETF counterparts.Ultimately, […]
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