Tuesday, February 26, 2008

Pleasant surprise

Although many have criticized the 2008 federal budget as boring and offering little of interest to taxpayers, I would argue that it is those very characteristics that makes it prudent especially considering the current economic environment. However, one exciting piece of the budget that was missed by many, but not by my favorite personal finance columnist, Rob Carrick at the Globe and Mail, is what is being called a TFSA or tax free savings account. It is like an RRSP for savings outside of retirement. For the breakdown of what it means and how it works, check out Canadian Capitalist and the article by Mr. Carrick.

2 comments:

andi said...

Dewd. The fact that you have a favorite personal finance columnist is proof of your uber-nerd status. And yet, I'm going to go over and read that article. What does that say about me? :)

Canadian Capitalist said...

Thanks for the link. It's probably time to update the RRSP versus mortgage debate yet again. Thanks for the idea.