Don't Make this Killer TFSA Mistake
Рет қаралды 1,512
Dave Chilton, The Wealthy Barber and former Dragon on CBC's Dragons' Den, talks about one of the biggest mistakes he's seeing Canadians make with their TFSAs.
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@davidkincade Ай бұрын
A good name change is a great idea: Tax Free Investing Account (TFIA). Great call Dave.
@robcollects3105 2 ай бұрын
I teach family and friends to invest in an index fund. They understand it but as soon as there is volatility in the markets and their account goes down in value, they sell and sit on the sidelines and the market goes back up and they buy back in at a higher price then they sold. A lot of them do this. They don't have the stomach for investing.
@user-rd2em4zw1s Ай бұрын
I called this from day one
@gregbaker-ca 2 ай бұрын
Yes, I think naming it a "savings account" was a gift to the banks. I didn't realize it could be another investment until my advisor pointed it out.
@robertz7294 2 ай бұрын
Yeah, I have all my stocks in a TFSA. As you may know, there are no taxes on any gains made, I love it.
@markmasson5746 2 ай бұрын
How should you invest a TFSA?
@TheWealthyBarber 2 ай бұрын
We'll be releasing videos on investing strategies for different risk levels-stay tuned!
@resofdareses 2 ай бұрын
hello Mr Chilton
@funguy2627 2 ай бұрын
where can you guarantee 7 to 8%?
@catherinedesilets8960 2 ай бұрын
Look up the average return over last 10 yrs in the snp500
@robertz7294 2 ай бұрын
Try an S&P 500 Index ETF. Over time the returns are good, and not too risky, like individual stocks tend to be...
@jesseyrichard4611 2 ай бұрын
ive been trying to teach friends and family about investing and how good it is. so far the only person I was able to get them started investing is my father. he now has more money than he ever had before
@DaveBee120 2 ай бұрын
It's simple, this happens because people are lazy and have no interest in learning about investing.