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Understanding Your TFSA Contribution Room in 2026

A Tax‑Free Savings Account (TFSA) is one of Canada’s most flexible and powerful savings tools, but figuring out your exact contribution room can feel like solving a puzzle. A clear breakdown makes it much easier. How TFSA Contribution Room Works Your available room is made up of three parts: Annual TFSA limit for the current year Unused contribution room from previous years Withdrawals from previous years (added back the following January) For 2026, the annual TFSA limit is $7,000 . Step‑by‑Step: How to Calculate Your Room Use this simple formula: [ \text{TFSA Room} = \text{Unused Room from Prior Years} + \text{Current Year Limit} + \text{Withdrawals from Last Year} ] A quick example: Unused room from past years: $18,000 2026 limit: $7,000 Withdrawals made in 2025: $4,000 [ \text{Total Room} = 18,000 + 7,000 + 4,000 = 29,000 ] That means you could contribute $29,000 in 2026 without penalty. A Few Helpful Notes Over‑contributions lead to penalties, so it’s worth...
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The journey of a thousand miles begins with a single step," by Lao Tzu


This quote is attributed to Lao Tzu, a legendary Chinese philosopher and founder of Taoism. It means that any great achievement starts with a small action, and that we should not be afraid to take the first step towards our goals.

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- It is a simple but powerful reminder that we can achieve anything if we are willing to start and persist.

- It encourages us to overcome procrastination and fear of failure, and to take action towards our dreams.

- It also implies that the journey itself is valuable, not just the destination, and that we should enjoy the process of learning and growing along the way.

In summary, Lao Tzu's quote is a powerful reminder that any substantial achievement begins with a small, but determined, first step. It encourages us to have faith in the process, be persistent, and focus on what we can do in the present moment to work towards our long-term goals.

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