Plain English Finance
The Plain English Finance podcast is hosted by Tré Bynoe CFP® CIM®, a financial planner with TCU Wealth Management and Aviso Wealth.
While Tré specializes in working with families with more complicated finances, typically involving corporations and trusts, this podcast is for anyone wanting to learn how to make high-quality decisions based on evidence, to give themselves the highest likelihood of financial success.
You should always consult with your financial, legal, and tax advisors before making changes.
This podcast is provided as a general source of information and should not be considered personal investment advice or solicitation to buy or sell any securities.
The views expressed are those of the individual and are not necessarily those of Aviso Financial Inc.
Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.
Plain English Finance
Ep. 21 | The Right Way to Use Your TFSA
“Tax-Free Savings Account” is a bad name. It’s an investment account, not a savings jar.
In this episode, Tré explains what the TFSA really is, how to use it properly, and how it fits with your RRSP. You’ll learn the real contribution rules (including why withdrawals don’t reset until January 1), why TFSA room is more valuable than a one-time tax break, and the estate move that can add six figures of lifelong tax-free space for your spouse.
You’ll learn
- TFSA vs RRSP—what actually differs at withdrawal time
- The calendar-year rule for recontributing after withdrawals
- Why TFSA room is valuable—and how market losses can shrink it
- Costly traps: over-contribution penalties and “in-kind” transfers at a loss
- Smart estate play: name a successor holder and consider maxing a spouse’s TFSA, even using a line of credit
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