{"id":90354,"date":"2024-10-16T12:19:35","date_gmt":"2024-10-16T16:19:35","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=90354"},"modified":"2024-10-31T12:21:14","modified_gmt":"2024-10-31T16:21:14","slug":"tfsa-success-stories-how-to-make-the-most-of-your-tfsa","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/","title":{"rendered":"TFSA Success Stories: How to Make the Most of Your TFSA"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/savings\/\">\n\t\t\t\t\t\t\t<span>Savings<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">TFSA Success Stories: How to Make the Most of Your TFSA<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Sylvie Tremblay<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"A man sitting happily looking out of the window\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg 7000w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?resize=1536,1025 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?resize=2048,1366 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=TFSA Success Stories: How to Make the Most of Your TFSA &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published October 16, 2024 \u2022 6 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block drop-shadow pos-rel top-line-blue block-wpr  mar-b-hlf\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<h4 class=\"wp-block-heading\" id=\"h-tldr\">TLDR<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p><a href=\"https:\/\/www.rbcroyalbank.com\/investments\/tfsa.html\" data-dig-id=\"LP-90354-62fc225b\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"A Tax-Free Savings Account, or TFSA\" class=\"rbc-link-format\">A Tax-Free Savings Account, or TFSA<\/a>, offers an opportunity to build your savings tax-free.\u00a0\u00a0<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Many Canadians use their TFSA to fund a range of goals, from saving for big-ticket items to funding their retirements, to getting a post-secondary education.\u00a0\u00a0\u00a0<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Saving early and often, matching your savings strategy to your goals and lifestyle, and seeking expert advice from a financial advisor can help you make the most of your TFSA.<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<p>A Tax-Free Savings Account, or TFSA, can be a powerful tool to help you reach your financial goals. As the name implies, it\u2019s a tax-advantaged savings account intended to help Canadians build their wealth \u2014 whether they\u2019re saving for retirement, planning a big-ticket purchase or working toward another goal entirely.&nbsp;&nbsp;<\/p>\n\n\n\n<p>No matter how you plan to use your savings, understanding how a TFSA works can help you create your financial plan. Here\u2019s how three Canadians used their TFSA to create a brighter financial future \u2014 plus, tips to make the most of your tax-advantaged savings.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Gaining tax benefits on a savings journey<\/h2>\n\n\n\n<p>One of the key differences between a TFSA and a standard savings account is its tax-advantages. You won\u2019t be taxed on interest or dividends earned on the account, or pay capital gains tax if the value of your investments go up.<\/p>\n\n\n\n<p>That\u2019s why Mia, age 40, first opened her TFSA back in 2009. \u201cReally, [my TFSA] was just an account for me to save money,\u201d she explains. \u201cI loved the fact that any growth on my investments in the account was tax-free. Of course, the money I invested was&nbsp;after-tax dollars.\u201d&nbsp;<\/p>\n\n\n\n<p>Another bonus? You can make tax-free withdrawals at any time and regain that contribution room the following tax year. That means you can use the money in your TFSA over and over throughout your life, no matter where you are in your financial journey.\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n\n\n\n<div class=\"wp-block-group has-light-grey-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<h6 class=\"wp-block-heading\">How much can you contribute to a TFSA?\u00a0<\/h6>\n\n\n\n<p>Contribution limits are set by the Federal Government and grow by a different amount each year. In 2024, the contribution limit is $7,000. If you didn&#8217;t contribute to a TFSA between 2019 and 2024, and you were at least 18 in 2009, your total contribution limit could be $95,000.\u00a0<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/tfsa-rules-contribution-limits.html\" data-dig-id=\"LP-90354-90d1a8a3\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Learn more about TFSA rules and contribution limits\" class=\"rbc-link-format\">Learn more about TFSA rules and contribution limits<\/a>.\u00a0\u00a0\u00a0<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Setting savings goals that can evolve with you\u00a0\u00a0<\/h2>\n\n\n\n<p>Another key perk of a TFSA is its flexibility. Unlike a Registered Retirement Savings Account\u00a0(<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/rrsp.html?msockid=3fc6fbaf060360bd30aeeaf4079a61ee\" data-dig-id=\"LP-90354-7a3fc990\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RRSP\" class=\"rbc-link-format\">RRSP<\/a>)\u00a0or First Home Savings Account\u00a0(<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/fhsa.html?msockid=3ca8c7cbd3db65d30648d39fd24f64a7\" data-dig-id=\"LP-90354-77049c59\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"FHSA\" class=\"rbc-link-format\">FHSA<\/a>)\u00a0\u2014 which are intended to save for retirement or purchasing a first home, respectively \u2014 you can use the money in your TFSA for a range of financial goals. And you can even start saving without a specific goal in mind at all.\u00a0\u00a0<\/p>\n\n\n\n<p>\u201c[When I started using my TFSA,] I didn\u2019t really know what I was saving for but I knew I wanted flexibility,\u201d explains Alejandro, age 32. \u201cThe account worked for me because I could put money away but still access the funds, if needed.\u201d&nbsp;<\/p>\n\n\n\n<p>Alejandro ultimately ended up using his savings to help fund his education. But you can withdraw from your TFSA for goals at different stages of life, too.&nbsp;<\/p>\n\n\n\n<p>Mia, for instance, used her TFSA to help pay down her mortgage. \u201cI decided to withdraw money from my TFSA to put towards my mortgage. The great thing about this, my money has grown from my investments, giving me more to work with,\u201d she explains. \u201cAlso, I love that I can replace the money I took out, as soon as I get that mortgage paid down!\u201d\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Planning for the unexpected<\/h2>\n\n\n\n<p>Your TFSA can help fund your retirement, too \u2014 which was the goal for Sachin, age 59, who was around 50 when he opened his first TFSA. Initially, he used the TFSA to augment his retirement savings, as he continued to contribute to his RRSP.&nbsp;<\/p>\n\n\n\n<p>But when he needed a little extra cash, his plan for the TFSA changed too.&nbsp;<\/p>\n\n\n\n<p>\u201cA few years ago we were invited to a \u201cdestination\u201d family wedding. I dipped into my TFSA to fly my family to the wedding,&#8221; he says. &#8220;It was also a bonus that I didn\u2019t lose the contribution room. I waited a few months and was able to put the amount I used back in the next year.&#8221;\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How you can make the most of your TFSA\u00a0\u00a0\u00a0<\/h2>\n\n\n\n<p>Try these four&nbsp;tips to make each dollar in your TFSA work hard for you&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Set up a savings goal\u00a0<\/h3>\n\n\n\n<p>The earlier you start contributing money to your TFSA, the longer your savings will have to grow. There\u2019s no such thing as \u201ctoo small\u201d when it comes to savings goals \u2014 and even setting aside $25 a month can help establish a habit of saving. Make saving effortless by\u00a0<a href=\"https:\/\/www.rbcroyalbank.com\/ways-to-bank\/tutorials\/online-investing\/set-up-pre-authorized-contributions.html#:~:text=Sign%20into%20RBC%20Online%20Banking,instructions%20to%20complete%20your%20updates.\" data-dig-id=\"LP-90354-722167cc\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"setting up a Pre-Authorized Contribution (PAC)\" class=\"rbc-link-format\">setting up a Pre-Authorized Contribution (PAC)<\/a>\u00a0to automatically transfer funds into your TFSA.\u00a0\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Consider using the account to invest\u00a0<\/h3>\n\n\n\n<p>Since a TFSA allows you to earn interest and returns tax-free, consider investing the money to give your savings a chance to grow. There are\u00a0<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/ways-to-invest.html\" data-dig-id=\"LP-90354-e7804bd5\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"different ways to invest\" class=\"rbc-link-format\">different ways to invest<\/a>\u00a0depending on your preferences and goals, so seek out a strategy that works for you.\u00a0\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Keep track of your contributions\u00a0\u00a0<\/h3>\n\n\n\n<p>Unfortunately, you can have too much of a good thing when it comes to contributing to your TFSA. The government sets contribution limits on your TFSA, which can vary depending on your age. Exceeding the contribution limit can result in penalties, so ensure your total TFSA contributions \u2014 across each of your TFSA accounts \u2014 remain within the contribution limit.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p class=\"has-light-grey-background-color has-background\"><strong>Pro tip:\u00a0<\/strong>You can view your remaining TFSA contribution room by logging into the Canada Revenue Agency\u2019s (CRA) My Account portal.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. Use your TFSA as part of a larger savings plan\u00a0\u00a0\u00a0<\/h3>\n\n\n\n<p>Chances are, you\u2019ll juggle multiple financial goals throughout your life, so it\u2019s important to think big-picture when you\u2019re planning how to use your TFSA. Canada offers multiple tax-advantaged savings accounts that you can use to save for the future \u2014 and Sachin, for example, focused on saving for retirement in his RRSP before contributing to his TFSA.&nbsp;&nbsp;<\/p>\n\n\n\n<p>As you create your savings plan, get to know the\u00a0<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/tfsa-vs-rrsp-fhsa.html\" data-dig-id=\"LP-90354-4a341a48\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"similarities and differences between a TFSA, RRSP and FHSA\" class=\"rbc-link-format\">similarities and differences between a TFSA, RRSP and FHSA<\/a>\u00a0so you can reap the most benefits from each account and create a well-rounded savings plan.\u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Get help to make your TFSA work hard for you\u00a0<\/h2>\n\n\n\n<p>Whether you\u2019re just starting your savings journey or you\u2019re already an experienced saver, an advisor can help you establish \u2014 or refine \u2014 your savings plan to achieve your financial goals.&nbsp;&nbsp;<\/p>\n\n\n\n<p>To get started with a TFSA, and work toward a bright financial future, you can start small,\u00a0<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/tfsa.html\" data-dig-id=\"LP-90354-b1bde702\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Start Online\" class=\"rbc-link-format\">Start Online<\/a>\u00a0or\u00a0<a href=\"https:\/\/www.rbcroyalbank.com\/book-an-appointment\/book-an-appointment.html\" data-dig-id=\"LP-90354-b2f4a880\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Book an Appointment\" class=\"rbc-link-format\">Book an Appointment<\/a>\u00a0to speak with an advisor.\u00a0<\/p>\n\n\n\n<p><em>*Names and identifying details have been changed to protect the privacy of individuals.<\/em>&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-90354-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Disclaimer\"><span>Disclaimer<\/span><span>Disclaimer<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Financial planning services and investment advice are provided by Royal Mutual Funds Inc. (RMFI). RMFI, RBC Global Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada and The Royal Trust Company are separate corporate entities which are affiliated. RMFI is licensed as a financial services firm in the province of Quebec.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-2a9508fb-872d-4d40-890d-6c2c9eec1409\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=TFSA Success Stories: How to Make the Most of Your TFSA &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-a46e9369-4a82-4938-ac12-0e5d808fac1c\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/personal-finance\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Personal Finance<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/rrsp\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">RRSP<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/savings\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Savings<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/tfsa\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">TFSA<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A young woman deep in thought\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg 8640w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/How-TFSA-work-shutterstock_2382160079.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/account-types\/\">\n\t\t\t\t\t\tAccount Types\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/account-types\/tax-free-savings-account\/\" class=\"card-title h4 mar-t-0\">TFSA Accounts: What They Are and How They Work<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"673\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Digital form checklist\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg 6736w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg?resize=300,197 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg?resize=768,505 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg?resize=1024,673 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg?resize=1536,1009 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/01\/2025-financial-roadmap-shutterstock_2375988879.jpg?resize=2048,1345 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/budgeting\/\">\n\t\t\t\t\t\tBudgeting\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/budgeting\/2026-financial-roadmap-aligning-your-budget-borrowing-and-investments-to-your-goals\/\" class=\"card-title h4 mar-t-0\">2026 Financial Roadmap: A Guide to Debt, Budgeting and Investing in Canada<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1840855456.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Silhouette of happy father and son play on sunset\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1840855456.jpg 5184w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1840855456.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1840855456.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1840855456.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1840855456.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1840855456.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/finances-and-relationships\/parenthood\/\">\n\t\t\t\t\t\tParenthood\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/finances-and-relationships\/parenthood\/build-a-financial-legacy\/\" class=\"card-title h4 mar-t-0\">Investing in Your Legacy: 5 Ways to Build Wealth for Your Family\u2019s Future<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-2a9508fb-872d-4d40-890d-6c2c9eec1409 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-2a9508fb-872d-4d40-890d-6c2c9eec1409 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-a46e9369-4a82-4938-ac12-0e5d808fac1c {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-a46e9369-4a82-4938-ac12-0e5d808fac1c {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>From destination weddings to university educations, Canadians are using their Tax-Free Savings Account to achieve their dreams. Here\u2019s how you can make the most of your TFSA and reach your goals.  <\/p>\n","protected":false},"author":80,"featured_media":90362,"parent":58194,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[77,92,48,94],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[71],"rbc_difficulty_level":[33],"rbc_mmm_category":[395,393,394],"class_list":["post-90354","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-personal-finance","tag-rrsp","tag-savings","tag-tfsa","rbc_content_type-article","rbc_lob_group-investments","rbc_difficulty_level-beginner","rbc_mmm_category-ideas-and-motivation","rbc_mmm_category-inspired-investor","rbc_mmm_category-investing-academy"],"acf":{"contently_publication_id":"341920","custom_author":"Sylvie Tremblay","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"How to control your spending over the holidays \u2014 without missing out on festive fun \u2014 and set yourself up for a happy new year.\u00a0\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"How to control your spending over the holidays \u2014 without missing out on festive fun \u2014 and set yourself up for a happy new year.\u00a0\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Royal Bank\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-31T16:21:14+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\"},\"author\":{\"name\":\"jacquelinewu\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/d055d46e444faf6863d781f24c107a5e\"},\"headline\":\"TFSA Success Stories: How to Make the Most of Your TFSA\",\"datePublished\":\"2024-10-16T16:19:35+00:00\",\"dateModified\":\"2024-10-31T16:21:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\"},\"wordCount\":1194,\"image\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80\",\"keywords\":[\"Personal Finance\",\"RRSP\",\"Savings\",\"TFSA\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\",\"name\":\"TFSA Success Stories: How to Make the Most of Your TFSA - My Money Matters\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80\",\"datePublished\":\"2024-10-16T16:19:35+00:00\",\"dateModified\":\"2024-10-31T16:21:14+00:00\",\"description\":\"How to control your spending over the holidays \u2014 without missing out on festive fun \u2014 and set yourself up for a happy new year.\u00a0\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#primaryimage\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80\",\"contentUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80\",\"width\":7000,\"height\":4669,\"caption\":\"A man sitting happily looking out of the window\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"My Money Matters\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Inspired Investor\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Ideas and Motivation\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"TFSA Success Stories: How to Make the Most of Your TFSA\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#website\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/\",\"name\":\"RBC Royal Bank\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/d055d46e444faf6863d781f24c107a5e\",\"name\":\"jacquelinewu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g\",\"caption\":\"jacquelinewu\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"description":"How to control your spending over the holidays \u2014 without missing out on festive fun \u2014 and set yourself up for a happy new year.\u00a0\u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/","og_locale":"en_US","og_type":"article","og_description":"How to control your spending over the holidays \u2014 without missing out on festive fun \u2014 and set yourself up for a happy new year.\u00a0\u00a0","og_url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/","og_site_name":"RBC Royal Bank","article_modified_time":"2024-10-31T16:21:14+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80","twitter_misc":{"Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#article","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/"},"author":{"name":"jacquelinewu","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/d055d46e444faf6863d781f24c107a5e"},"headline":"TFSA Success Stories: How to Make the Most of Your TFSA","datePublished":"2024-10-16T16:19:35+00:00","dateModified":"2024-10-31T16:21:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/"},"wordCount":1194,"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80","keywords":["Personal Finance","RRSP","Savings","TFSA"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/","name":"TFSA Success Stories: How to Make the Most of Your TFSA - My Money Matters","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#primaryimage"},"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80","datePublished":"2024-10-16T16:19:35+00:00","dateModified":"2024-10-31T16:21:14+00:00","description":"How to control your spending over the holidays \u2014 without missing out on festive fun \u2014 and set yourself up for a happy new year.\u00a0\u00a0","breadcrumb":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#primaryimage","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80","contentUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80","width":7000,"height":4669,"caption":"A man sitting happily looking out of the window"},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"My Money Matters","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/"},{"@type":"ListItem","position":2,"name":"Inspired Investor","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/"},{"@type":"ListItem","position":3,"name":"Ideas and Motivation","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/"},{"@type":"ListItem","position":4,"name":"TFSA Success Stories: How to Make the Most of Your TFSA"}]},{"@type":"WebSite","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/","name":"RBC Royal Bank","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/d055d46e444faf6863d781f24c107a5e","name":"jacquelinewu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3321e8136810c69188cc4e33665518d781482ff9e3a346484c2892fdffef6ded?s=96&d=mm&r=g","caption":"jacquelinewu"}}]}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TFSA Success Stories: How to Make the Most of Your TFSA","url":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\/"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80&w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80"},"articleSection":"Uncategorized","author":[{"@type":"Person","name":"jacquelinewu"}],"creator":["jacquelinewu"],"publisher":{"@type":"Organization","name":"RBC Royal Bank","logo":""},"keywords":["personal finance","rrsp","savings","tfsa"],"dateCreated":"2024-10-16T16:19:35Z","datePublished":"2024-10-16T16:19:35Z","dateModified":"2024-10-31T16:21:14Z"},"rendered":"<script type=\"application\/ld+json\" class=\"wp-parsely-metadata\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TFSA Success Stories: How to Make the Most of Your TFSA\",\"url\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/inspired-investor\\\/ideas-and-motivation\\\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/inspired-investor\\\/ideas-and-motivation\\\/tfsa-success-stories-how-to-make-the-most-of-your-tfsa\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2024\\\/10\\\/shutterstock_2256591897.jpg?quality=80&w=150&h=150&crop=1\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2024\\\/10\\\/shutterstock_2256591897.jpg?quality=80\"},\"articleSection\":\"Uncategorized\",\"author\":[{\"@type\":\"Person\",\"name\":\"jacquelinewu\"}],\"creator\":[\"jacquelinewu\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"RBC Royal Bank\",\"logo\":\"\"},\"keywords\":[\"personal finance\",\"rrsp\",\"savings\",\"tfsa\"],\"dateCreated\":\"2024-10-16T16:19:35Z\",\"datePublished\":\"2024-10-16T16:19:35Z\",\"dateModified\":\"2024-10-31T16:21:14Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/rbcroyalbank.com\/p.js"},"featured_img":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/10\/shutterstock_2256591897.jpg?quality=80&w=1024","coauthors":[],"author_meta":{"author_link":"https:\/\/www.rbcroyalbank.com\/en-ca\/author\/jacquelinewu\/","display_name":"jacquelinewu"},"relative_dates":{"created":"Posted 2 years ago","modified":"Updated 1 year ago"},"absolute_dates":{"created":"Posted on October 16, 2024","modified":"Updated on October 31, 2024"},"absolute_dates_time":{"created":"Posted on October 16, 2024 12:19 pm","modified":"Updated on October 31, 2024 12:21 pm"},"featured_img_caption":"","tax_additional":{"post_tag":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/personal-finance\/\" class=\"advgb-post-tax-term\">Personal Finance<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/rrsp\/\" class=\"advgb-post-tax-term\">RRSP<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/savings\/\" class=\"advgb-post-tax-term\">Savings<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/tfsa\/\" class=\"advgb-post-tax-term\">TFSA<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Personal Finance<\/span>","<span class=\"advgb-post-tax-term\">RRSP<\/span>","<span class=\"advgb-post-tax-term\">Savings<\/span>","<span class=\"advgb-post-tax-term\">TFSA<\/span>"],"slug":"post_tag","name":"Tags"},"rbc_content_type":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/content-type\/article\/\" class=\"advgb-post-tax-term\">Article<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Article<\/span>"],"slug":"rbc_content_type","name":"Content Types"},"rbc_audience":{"linked":[],"unlinked":[],"slug":"rbc_audience","name":"Audiences"},"rbc_lob_group":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/lob-group\/investments\/\" class=\"advgb-post-tax-term\">Investments<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Investments<\/span>"],"slug":"rbc_lob_group","name":"LOB Groups"},"rbc_difficulty_level":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/difficulty-level\/beginner\/\" class=\"advgb-post-tax-term\">Beginner<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Beginner<\/span>"],"slug":"rbc_difficulty_level","name":"Difficulty Levels"},"rbc_mmm_category":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/ideas-and-motivation\/\" class=\"advgb-post-tax-term\">Ideas and Motivation<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/inspired-investor\/\" class=\"advgb-post-tax-term\">Inspired Investor<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/investing-academy\/\" class=\"advgb-post-tax-term\">Investing Academy<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Ideas and Motivation<\/span>","<span class=\"advgb-post-tax-term\">Inspired Investor<\/span>","<span class=\"advgb-post-tax-term\">Investing Academy<\/span>"],"slug":"rbc_mmm_category","name":"Categories"},"ep_custom_result":{"linked":[],"unlinked":[],"slug":"ep_custom_result","name":"Custom Results"}},"series_order":"","jetpack_sharing_enabled":true,"primary_tag":"48","primary_rbc_mmm_category":"395","_links":{"self":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/90354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter"}],"about":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/types\/rbc_my_money_matter"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/users\/80"}],"version-history":[{"count":1,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/90354\/revisions"}],"predecessor-version":[{"id":90363,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/90354\/revisions\/90363"}],"up":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/58194"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media\/90362"}],"wp:attachment":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media?parent=90354"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/tags?post=90354"},{"taxonomy":"rbc_content_type","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_content_type?post=90354"},{"taxonomy":"rbc_audience","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_audience?post=90354"},{"taxonomy":"rbc_lob_group","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_lob_group?post=90354"},{"taxonomy":"rbc_difficulty_level","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_difficulty_level?post=90354"},{"taxonomy":"rbc_mmm_category","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_mmm_category?post=90354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}