What is in Canada, the best bank for a free account with the taxation of savings?
I have to reach at least 10,000 in three years. How much I have to keep a month and which bank has the best tax free savings account? Im with TD at this time and gave me a horrible 1.29%. Again, I can get my bank to transfer money from each paycheck in the bank you want? Im new to all this.
Depends on the rate you're getting, but for a target of three years I would not recommend invest in anything too volatile. You can open an account at any bank, that all functions in the same way. For a higher rate on your money consider investing some notes a little short-term maturity, such as the GIC, not give you a great guy, but you'd better sit up. Assuming that you are making 3% on your money, you $ 265.82/month need to reach your destination. Assuming that 5% will have $ 258.04/month. Mutual funds potentially could give a better return on their own, but there are some risks, of course. Still, the global economy is in recovery and markets as a whole are slightly underestimated due to reaction exaggerated the debt situation in Europe. I think some diversified investment funds would be an acceptable risk. If you have achieved a 10% annual payments required $ 239.34/month. good luck, I hope this helps.
Staying out of trouble with a tax-free savings account with Gordon Pape
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