A Tax-Free Savings Account allows you to save money without paying taxes on the growth. As long as you are above the age of 18, you could save up to $5,500 every year in a TFSA. All contributions will not be tax deductible even when withdrawn. In short, a TFSA is a tax-efficient way to increase your savings way beyond what you have in RRSP. Speak with a Life100 advisor today on the advantages of saving with a TFSA, in Toronto, Brampton, Ajax, Markham or anywhere in the Greater Toronto Area.