Savings opportunities missed

Only five out of 10 British Columbians hold a TFSA, according to recent research from Central 1 Credit Union.

Many Canadians are missing an opportunity to build wealth through a tax free savings account.

Only five out of 10 British Columbians hold a TFSA, according to recent research from Central 1 Credit Union.

“Many Canadians just use it for an emergency savings account, but it also makes sense to use it as a long-term savings vehicle, particularly for people in the 30s, 40s and early 50s looking towards retirement,” said said Bruce LeFranc, a financial planner at Valley First.