Let's say someone just got married at the age of 20. They sock away 10K a year into both their TFSA's. The newly weds pull off 6.5%/yr. When they retire at 60 they have 2M. Now they put that into something that pays about 5% a year, or a dividend rockstar or whatever but it is still inside their TFSA's.
This 100K that you receive every year in interest or dividends, is it completely all yours? My understanding is that it is all yours and there won't even be anything of it mentioned during tax season for the rest of your life.
If that is true, this TFSA plan from the gov. could make for some interesting retirement ideas.
Is it for real?
This 100K that you receive every year in interest or dividends, is it completely all yours? My understanding is that it is all yours and there won't even be anything of it mentioned during tax season for the rest of your life.
If that is true, this TFSA plan from the gov. could make for some interesting retirement ideas.
Is it for real?