Investing in the stock market can be a daunting task, especially for beginners. One of the key tools that investors use to make informed decisions is technical analysis. Technical analysis involves analyzing historical price data and trading volume to forecast future price movements. This method helps investors identify trends, patterns, and potential market reversals, making…
A TFSA, or Tax-Free Savings Account, is a type of registered account available to Canadians where they can save and invest their money without paying taxes on the growth or withdrawals. TFSAs were introduced by the Canadian government in 2009 as a way to encourage Canadians to save more money and invest in their future.
Unlike RRSPs, which are primarily designed for retirement savings, TFSAs offer more flexibility in terms of when and how the money can be used. They can hold a wide range of investment vehicles, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs), and are available to Canadians of all ages, with no age restrictions for contributions.