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What is the minimum age for contributing to a TFSA? What about the maximum age?
All Canadian residents over the age of 18 can open a TFSA. Under 18? Put your money in a high-interest savings account or an RESP.
Unlike RRSPs, TFSAs have no age limit for contributing and your plan never expires. It's there for life!
Related questions
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Are RESP withdrawals taxed? Learn about withdrawing from an RESP. -
Are TFSA contributions tax deductible? Learn the tax benefits of a TFSA. -
Are TFSA withdrawals taxed? Learn if TFSA withdrawals are taxable. -
By what age must a child withdraw funds from an RESP? Learn the maximum age to withdraw funds from an RESP. -
Can I carry forward my unused FHSA contribution room? Once you open an FHSA, you can carry forward your unused contribution room. Check out the details.
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