Wealth grows like a forest
Issue 1 · 5-min read
The Seed
Compounding means your money earns returns, then those returns earn returns. In the early years it feels like nothing is happening. That's when most people quit.
You're not giving money up. You're sending it ahead. At an illustrative 6%, every $1 you send ahead at 30 arrives as about $8 at 65. Wait until 45, and it arrives as about $3.
The Move
Pick an amount you won't miss, even $25. Set an automatic transfer from your chequing account to your TFSA on payday.
The Ring
$109,000That's the total TFSA room for someone who has been 18+ and living in Canada since 2009 and never contributed.
Field Notes
For over two years, a small deposit has gone into my TFSA every week without me touching it. I barely notice it anymore.