Tax free savings accounts: controlling your financial destiny

Too few Canadians know they can use TFSA funds to invest in ventures that could bring big gains (and cost nothing in tax)

Tax free savings accounts: controlling your financial destinyAre you one of the six million Canadians who have opened a tax free savings account (TFSA)? Have you ever wondered about the real purpose of these accounts? You’re not alone. Millions of Canadians are unaware of the potential windfall that former finance minister Jim Flaherty handed them in 2009 when he introduced TFSAs. TSFAs were…

Your financial adviser’s interests may not align with yours

Do your homework. Look with a critical eye at your service providers. After all, it is your money

Your financial adviser’s interests may not align with yoursThe tax free savings account market continues to be a great unknown for many Canadians and the big banks apparently aren’t helping. Recently, I asked readers if they were among the six million Canadians with the savings accounts known as TFSAs, and if they truly understood the value those accounts represented – and the flexibility they offered investors. “The pitiful…

The financial road less travelled still offers a trustworthy route

Control your own financial destiny by doing your homework, finding boutique advisers and using your TFSA to its maximum potential

The financial road less travelled still offers a trustworthy routeMost people spend more time mowing their lawn than they do managing their money. That may sound harsh, but the majority of people have ceded their investment decisions to the army of financial advisers employed by big banks. Employees in Canada's big banks “are pressured to up-sell, trick and lie to customers to meet unrealistic sales targets…