If you don’t already have a Tax Free Savings Account (TFSA for short), you need to get one. They are a fairly new investment vehicle, unveiled in January 2009, for any Canadian who is 18 years of age or older and who has filed a tax return. TFSA’s make sense for just about everyone, from someone in their early 20’s who is just starting out to someone in their late 70’s or early 80’s who has been retired for 20 years.

It’s that time of year again when the New Year makes many people reflect on what they want to accomplish, make better, or maybe just not repeat during the next twelve months. You may have already listed some of the more obvious ones such as finally fixing the railing on the back porch or getting more exercise but why not take a minute to set some goals to get your financial future in order?

FINANCIAL PLANNING NEW YEARS RESOLUTIONS

We will cover all of these topics in more detail in future articles but, in no particular order, here are some of the personal financial planning activities you should consider starting, reviewing or modifying in 2010:

Set up a tax-free savings account