Are you prepared for a sudden change to your financial situation?
If the last 12 months are any indication, life has a way of throwing us financial curve balls now and then. For education members, those curve balls have been especially hard-hitting, from dealing with job action to facing uncertain times due to the global pandemic. Some education workers have had to adjust to not working at all.
Start saving today for whatever happens tomorrow.
From August 1, 2020 to September 30, 2020, open a new Tax-Free Savings Account (TFSA) and you could win $1000†.
Don’t wait for an emergency. A TFSA is an easy, tax-free way to put money away for when you need it most.
- No minimum contribution, which means you can save a little (or a lot) and there’s never taxes owing on gains or income, even when you withdraw.
- Unlike an RRSP, you can make contributions to a TFSA from the age of 18 onwards. You can continue even after the year you turn 71 and enjoy the additional financial cushion if you’re already retired.
- TFSA contributions can be from any source of funds, not only employment income, so regardless of where the money comes from (gift, second job, or inheritance) you can add it to your TFSA and watch it grow.
- Saving becomes automatic and convenient with pre-authorized contributions.
Find out more about the benefits of a TFSA here.
Already have a TFSA elsewhere? Switch to Educators Financial Group and we’ll cover the transfer fees!*