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Fri, January 17, 2025
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How to Use Your TFSA to Double Your 2025 Contribution
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How to Use Your TFSA to Double Your 2025 Contribution


Published on 2025-01-17 17:21:33 - MSN
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  • With dividends, growth, and a strong balance sheet, this TFSA winner could be a prime target this 2025. The post How to Use Your TFSA to Double Your 2025 Contribution appeared first on The Motley Fool Canada.

The article from MSN Money discusses how to maximize the benefits of a Tax-Free Savings Account (TFSA) in Canada to potentially double the 2025 contribution. It explains that the TFSA allows Canadians to earn tax-free investment income, and with the contribution room increasing each year, strategic investment can lead to significant growth. The piece suggests that by investing in a diversified portfolio of stocks, ETFs, or mutual funds, one could see their investments grow enough to effectively double their contribution for the next year. It highlights the importance of understanding your risk tolerance, the power of compound interest, and the need for a long-term investment strategy. The article also mentions that while there's no guarantee of doubling your money, choosing the right investments and reinvesting dividends can significantly enhance returns, thereby increasing the effective contribution for future years.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/money/top-stocks/how-to-use-your-tfsa-to-double-your-2025-contribution/ar-AA1xoNvb ]
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