Graduation Day: BMO Recommends the Gift of Investing with a Contribution to a TFSA
- Gift of contributing to a TFSA provides grads with tax-free growth - The majority (64 per cent) of Canadians are knowledgeable about TFSAs while 44 per cent have a TFSA - Average annual TFSA contribution is $3,700
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 06/15/12 -- This graduation season, rather than opting for a traditional gift for the new grad, consider investing in their financial future by contributing to their Tax-Free Savings Account (TFSA).
Introduced in 2009 by the federal government, TFSAs allow investors to save and invest up to $5,000 per year without paying tax on any interest earned or withdrawals. TFSAs have several benefits, including:
"Teaching young adults how to invest for the future is one of the most valuable gifts you can give," said Larry Moser, Regional Sales Manager, BMO Bank of Montreal. "A TFSA is also a great way for young investors to start learning about how taxes can affect investment income."
According to a BMO study, conducted by Leger Marketing:
Furthermore, Mr. Moser added that TFSAs are an effective way to save for both short- and long-term goals, especially since the investor is not penalized for withdrawing savings from the account.
TFSA Basics:
To learn more about BMO's TFSA offering, please visit .
The survey was completed on-line from October 17th to October 20th, 2011, with a sample of 1508 Canadians, 18 years of age or older. A probability sample of the same size would yield a margin of error of 2.5 per cent, 19 times out of 20.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $525 billion as at April 30, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Contacts:
Media Contacts:
Matthew Duffin, Toronto
416-867-3996
Ronald Monet, Montreal
514-877-1873
Laurie Grant, Vancouver
604-665-7596
Internet:
Twitter: (at)BMOmedia
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Datum: 15.06.2012 - 10:00 Uhr
Sprache: Deutsch
News-ID 156868
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Commercial & Investment Banking
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