Hello RFDers,
For the first time in my life I have enough disposable income in my bank account that I think I can start investing in a savings account. I've never had anything more than a simple chequing account before so I'm still VERY new to this. I don't have a lot to invest (I can invest $5-7K, while still leaving enough in my chequing account) but from what I've read, the best place to start is a TFSA. There are so many different savings accounts out there I have no idea where to begin.
Could you guys explain how TFSA works and what are your recommendations?
For the first time in my life I have enough disposable income in my bank account that I think I can start investing in a savings account. I've never had anything more than a simple chequing account before so I'm still VERY new to this. I don't have a lot to invest (I can invest $5-7K, while still leaving enough in my chequing account) but from what I've read, the best place to start is a TFSA. There are so many different savings accounts out there I have no idea where to begin.
Could you guys explain how TFSA works and what are your recommendations?