What is a "TFSA" and how can I make it work for me?

What is a "TFSA" and how can I make it work for me?

Since their introduction in 2009, the Tax-Free Savings Account (TFSA) has been a source of tax-savings but also confusion for many Canadians. Different from a Registered Retirement Savings Plan (RRSP) in that there's no tax refund when you put money in but a TFSA does allow you to hold a wide range of investments while sheltering their growth from taxes. On top of that...

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We Arrived Just In Time!

We Arrived Just In Time!

Canadians need expert financial advice now more than ever. Unfortunately, most Canadians either don't have a financial advisor or have a financial advisor that only focusses on their investments. Adding insult to injury, Canadians also pay the highest average mutual fund fees in the world, pay up to 30% more for housing then they should, and have a debt to income ratio over 160%. Now more than ever Canadians need to find competent advisors who will focus on more than just investments. Canadians need advice on reducing their tax burden, increasing their income, and identifying achievable financial goals. How do you find a great advisor? Well, we think there are three key things that all great advisors have in common...

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We're Open For Business!

We're Open For Business!

I'm proud to announce that Somerset Financial Management is now open for business! We're a new online wealth advisory that can help you build, protect, and enjoy your wealth. We feel that Canadians, now more than ever, are paying too much for basic investment advice when what they really need is advice on how they can balance their budgets, reduce their debt, lower their risks, and protect their lifestyle...

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