How to Turn Your TFSA Into a Gold Mine Starting With $10,000

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The Canada Revenue Agency (CRA) has stated the 2025 Tax-Free Savings Account (TFSA) contribution limit at $7,000. However, Canadians under 35 had an average TFSA savings of $11,980 in 2023, according to Statistics Canada data. Albert Einstein said, “Compound interest is the eighth wonder of the world. He who understands it earns it … he who doesn’t … pays it.” Similarly, TFSA is a great tool to harness the power of compounding for three reasons: It can help your money compound tax-free It allows you to withdraw the compounded money tax-free without any withdrawal limits TFSA withdrawals do not affect...