TFSA Explained: Everything You Need To Know To Get Started And Avoid Costly Mistakes

Описание: TFSA Explained in 2025 | The Biggest Mistakes to Avoid
The Tax-Free Savings Account (TFSA) is one of the most powerful wealth-building tools in Canada — but most Canadians are using it wrong. In this video, I’ll explain exactly how the TFSA works, the rules you need to know, and the costly mistakes that could be holding you back.
Here’s what you’ll learn:
✅ What a TFSA really is
✅ How contribution limits work (and the 2025 total of $102,000)
✅ Withdrawal & re-contribution rules that can trigger CRA penalties
✅ The top TFSA mistakes Canadians make (and how to avoid them)
✅ My personal story of how I wasted my TFSA in my 20s
Did you know over-contributing to your TFSA comes with a 1% monthly penalty? That’s $70 every month on a $7,000 mistake. Don’t let that be you!
If you want to invest smarter, save on taxes, and grow your wealth tax-free, this video will give you the foundation you need.
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⏱️ Video Chapters

0:00 – Intro: Why the TFSA is a Powerful Tool for Canadians
0:38 – What is TFSA Contribution Room?
1:00 – What Can You Hold in a TFSA?
1:38 – How to Avoid Paying Taxes in Your TFSA
2:08 – How to Open a TFSA Account
2:40 – Contribution Room Overview (2025 = $102,000!)
3:38 – TFSA Withdrawal Mistakes to Avoid (Over-Contributions & Penalties)
4:20 – What Happens if You Lose Money in a TFSA?
4:41 – TFSA Growth: Compounding Tax-Free
5:13 – Switching Banks? Do a Direct Transfer!
5:45 – Adding a Beneficiary to Your TFSA
6:35 – Final Thoughts

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