The new Tax Year has started

The 2023 tax year has started... Remember the rush and potential stress you just went through to MAX out your TFSA contributions for end of last year? Not cool.

Fresh year, fresh start… instead of taking on that stress, let's try and chip away at those contributions throughout the year. Small bites are a lot of easier than one big one at year end. Now is the time.

If you haven’t already, set up a recurring monthly investment in your TFSA. Remember the limits that apply.

For more info on Tax in general, check out this Podcast below:

Tax, it's not that scaryThere is so much going on the world now, we might be thinking is it a good time to invest?
Petrol prices are rising as well as inflation which will mean less moola in our pockets at the end of the day, so I can’t afford a monthly commitment at the moment.

Here are some EASY TIPS from the Wealth team for investing in these volatile times:

  • Volatility is short term noise, your TFSA is a long term investment and you should be invested in volatile times. There is no right or wrong time to invest for your long term wealth creation.
  • Investing should not take a back seat, your spending should be considered first. Rather reduce what you spend than reduce or stop investing. Focus on the small expenses like take aways, coffees, snacks, how you drive, vaping, anything you can control.
  • You still need to be investing while you are paying of debt. They are equally important.
    History shows that on average investors do more damage to their finances than markets do. In other words, they compound losses by selling out, or becoming overly conservative, after markets have dropped. STAY INVESTED and TRY to maintain good investment habits.
    Top Performing TFSA Funds 2021
Just a recap on why a TFSA is such a ROCK STAR in the investment world.

  • All growth is tax free which means you should enjoy higher growth with not having to pay tax.
  • Other investments are exposed to dividend withholding tax and interest on tax.
  • A TFSA is flexible, so you can contribute lump sums or monthly.
  • So easy to manage on the EASY EQUITIES platform
  • You can also transfer your TFSA from other providers to EASY. Do not withdraw but follow the transfer process.

Most importantly, have FUN, enjoy your investment journey! Share your successes with us, we love to hear from you.

Win your retirement with EasyEquities - Check out our Invest For Your Future Campaign on how? T's and c's apply.

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