CSR Wealth Management

Reason #1 why automated saving works best:

No willpower needed.

When given the choice between saving or spending, most are inclined to choose immediate gratification.

Automation eliminates this tendency.

So what should you do about it? Set up an automatic contribution to your RRSP, TFSA, FHSA or RESP and then go live your life.

Let automated contributions, time and compound growth do the rest of the work for you.

Keeping these in mind can help protect your investment decisions from being swayed by emotions.

At CSR Wealth, our job is to educate our clients about investing, with the goal of helping to regulate emotions around money.

Why is a TFSA useful in retirement?

The TFSA is useful in retirement because it's a source of tax-free income, for occasions when a person might need extra money.

Here are some common reasons retirees withdraw funds from their TFSA:
⭐ Travel
⭐ Renovation
⭐ Vehicle
⭐ Cash gift to kids or grandkids
⭐ RESP contributions for grandkids

Unlike the RRSP, a TFSA is not tied to employment income. Any person aged 18 to 100+ can open an account.

Whether you're working toward retirement or already retired, it's not too late to open a TFSA. Let us help! Book a call with Frank from our website or text him at 647-226-8921.