TFSAs are much more valuable today than they were when they were introduced, says MoneySense magazine.
Since the government boosted the annual TFSA contribution limit from $5,500 to $10,000 this year, it adds, “Any adult over [the age of] 24 has now accumulated $41,000 of TFSA contribution room. Couples can enjoy $82,000 of tax-free bliss, with another $20,000 accumulating every year.”
Read more about how TFSAs can benefit clients.
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