A Tax Free Savings Account (TFSA) is a registered investment or savings account that allows for tax free growth. Deposits to a TFSA are limited each year. A TFSA can be used for any savings goal and withdrawals can be made free of tax.
TFSA is an acronym for Tax Free Savings Account. Think of a tax-free savings account (TFSA) as a basket. You can pick what to put in that basket from several financial instruments—guaranteed investment certificates, segregated funds and actual cash savings. The Canadian government introduced TFSAs in 2009 as a way to encourage people to save money. Since you paid tax on the money you put into your TFSA, you won’t have to pay anything when you take money out.
Unlike an RRSP, you’re free to withdraw at any time without penalty, but there are government-mandated limits to how much you can contribute every year.
At Archway Insurance, our brokers are committed to helping you secure the financial future. That’s why we work with financial services providers to equip you with a comprehensive savings plan tailored to your needs, lifestyle and budget. We will work hard to find a solution that meets your needs and expands your overall financial plan to it’s fullest potential.
"Great service, a place where you are treated as a customer and not just a number."
"The service I received from Stacie at Archway Insurance was more than excellent. The service was fast and Stacie was very knowledgeable and helped educate me on what I needed to do. I would highly recommend this company for your insurance needs. They are exceptional."
"Customer service at Archway is exceptional. I have always had positive experiences and the staff are professional, responsive and courteous. Would highly recommend them."
"Excellent service! Very attentive to my family's needs."
"Painless transaction. Had to sign a form. Was in and out in 3 mins."
"We live in Ontario and my son is attending College in Sydney which made arranging insurance a bit more difficult. Archway was amazing, the Customer Service I received was top notch. Great people to deal with."
Get insurance instantly, ready to buy insurance at your fingertips!