This post was sponsored by TD but, as always, opinions are my own.
Last year, we ventured into the bank to open up bank accounts for both of the kids. In the midst of that, the helpful representative suggested I open a Tax-Free Savings Account, with regular contributions, to increase the potential of the savings I was already making contributions to.
Tax-free Savings Accounts, I learned, have the ability to earn more because the savings grow tax free. I admittedly didn’t know much about it – and certainly wasn’t making use of it, so I decided to cross it off of my adultier adult list and change things up from my traditional ‘savings account’.
I learned that there are tax-free savings solutions for every type of investor, from high-interest savings accounts, to term deposits and mutual funds, and that it’s a great way to save for the future, being self-employed.
What are we saving for? Two words: the dream. For a vacation property when the kids are older. Somewhere to escape to, a cabin on a lake, for the dream summers and weekends to escape the chaos of everyday. To have somewhere to meet, to go, to spend lazy days on the water, to fill with memories.
The dream, that’s what we’re saving for – and that’s what we’re making regular contributions to fund. The dream, the cabin, the beach house, the vacation property that will fast become filled with a lifetime of memories. Photos on the wall, summers filled with laughter and road trip stops that come with stories that will be spoken of for years to come.
We’ve got different accounts we use to save for things like travel and large planned purchases, but for us, our Tax-Free Savings Account means saving for a longer period of time, taking advantage of the maximized offers that are available to help us get more from our money. For us, our Tax-Free Savings Account represents saving for an extended period of time for one of those ‘big dreams’ – like a place to capture all of those family memories.
What are you saving for? What’s your future dream that you’re working to make happen right now? You can visit TD Canada to learn more about Tax-Free Savings Accounts from TD Canada Trust.