Reach out to one of our Chevron Wealth Preservation specialists for more information.
Double Down on your TFSA
Chevron Wealth Team
The TFSA is a great short-term savings vehicle intended for the next big-ticket purchase or rainyday fund. However, we have found that many affluent clients make the maximum deposit each year and never make any withdrawals.
The Tax-Free Savings Account effectively becomes a Tax-Free Estate Account.
We can show you how to create a second Tax-Free Estate Account without the low annual maximum contribution limit that the TFSA has.
For example, two spouses, age 65, create a Tax-Free Estate Account and deposit $12,000 annually.
Let’s see how it stacks up to a 5% return in a traditional TFSA:
The Estate Account outperforms the 5% tax free investment to age 90; a guaranteed immediate tax-free benefit is created, payable on the last death of the two of them and allows the opportunity to diversify the portfolio further.
If you want to create more tax-free savings, contact your Echelon advisor today and see if this strategy is right for you.
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Forward-looking statements are based on current expectations, estimates, forecasts and projections based on beliefs and assumptions made by author. These statements involve risks and uncertainties and are not guarantees of future performance or results and no assurance can be given that these estimates and expectations will prove to have been correct, and actual outcomes and results may differ materially from what is expressed, implied or projected in such forward-looking statements.
The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Echelon Wealth Partners Inc. or its affiliates. Assumptions, opinions and estimates constitute the author’s judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results. These estimates and expectations involve risks and uncertainties and are not guarantees of future performance or results and no assurance can be given that these estimates and expectations will prove to have been correct, and actual outcomes and results may differ materially from what is expressed, implied or projected in such forward-looking statements. Echelon Wealth Partners Inc. is a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund.