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Reach Your Investment Goals with a TFSA

Reach Your Investment Goals with a TFSA

Jennifer - Branch Manager

We all want to save and grow our money. Opening up a Tax-Free Savings Account is one way to help you achieve your short and long term goals.

For as little as $100, or up to $5,500 a year ($5,000 for the years 2009-2012), you can start making your money work for you. Because, whether you're earning interest, dividends or capital gains, your money will not be taxed, even if you withdraw it! And, over time, the tax-free savings you've accumulated can really add up!

Let's say, you decide to invest $5,000 every year, at around 6% interest. In 20 years you'll have accumulated close to $195,000. That's a gain of almost $38,000! versus a taxable account. Nice.

Decide you can't contribute one year, or, can only put in a small sum? Not a problem. The Tax-Free Savings Account allows you to carry over any unused contributions, indefinitely. And, there are multiple investment options available.

So, whether you're saving up for a car, home renovations, setting up an emergency fund or planning for your retirement, a Tax-Free Savings Account can be a really good compliment to your investment portfolio.

Talk to an RBC advisor about how a Tax-Free Savings Account can help you reach your investment goals, today.

Investment advice is provided by Royal Mutual Funds Inc. Royal Mutual Funds Inc., RBC Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada, The Royal Trust Company and Phillips, Hager & North Investment Management Ltd. are separate corporate entities which are affiliated. Royal Mutual Funds Inc. is licensed as a financial services firm in the province of Quebec.