Are you utilizing your TaxFree Savings Account (TFSA) to its fullest potential? In this video, we dive into the most frequent pitfalls of managing a TFSA and provide practical solutions to help you avoid them.
Whether you’re just starting out or looking to refine your approach, this video is packed with valuable advice to help you manage your TFSA more effectively. #financetips #tfsa

TFSA contribution room calculator: https://www.moneysense.ca/save/invest...

TIMESTAMP
0:00 Intro
0:29 Leaving your savings in TFSA
1:21 Opening a TFSA too early/too late
2:08 Having only one TFSA
2:55 Not tracking your contribution room
4:18 Investment returns do not affect your contribution room
4:58 Replacing withdrawals within the same year
5:55 Day trading in your TFSA
6:32 Trading prohibited investments
7:27 Naming your spouse as a beneficiary
8:26 Withdrawals while switching financial institutions
9:36 Investing in TFSA as a U.S tax payer
10:22 Withholding tax on foreign income investments
11:11 Not maxing out your TFSA

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