Sentences with phrase «tfsa as an emergency fund»
I like the concept of using my TFSA as an emergency fund and focusing my long - term investment budget into an RRSP.
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If you use the TFSA as an emergency fund, then the People's Trust makes excellent sense, but if it's not, get more bang for your buck by putting investments in your TFSAs.
Not exact matches
They also have an emergency fund made up of $ 5,500 in an investment account holding GICs, as well as $ 2,700 in Phil's TFSA.
BMO talks about disability insurance, long - term care insurance, maxing out Tax Free Savings Accounts (TFSAs) as a source of ready emergency funds, and various other actions.
@ Al, I have had the same issue and it has annoyed me a bit, as I thought I could use my TFSA to act as a sort of emergency / vacation fund.
If you need the flexibility of getting at the money in your TFSA (like if it's part of your emergency fund), then put it there and then later contribute to RRSP when the liquidity need is not as great.
We were thinking to use his TFSA as the «emergency» fund.