How Do Most Canadians' TFSA Balances Look at Age 30? [Globe and Mail, The (Toronto, Canada)]
Brookfield Asset Management Inc Class A Limited Voting Shares (BAM)
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Source: Globe and Mail, The
Tax-Free Savings Account ( TFSA ) balance of just $16,760. At first glance, that may seem reasonable – but when you look closer, it reveals a significant missed opportunity. Historically, stocks have delivered some of the strongest long-term returns among major asset classes. If that $16,760 had been fully invested in the Canadian market using the iShares S&P/TSX 60 Index ETF TSX:XIU ) as a proxy, it would have grown to about $31,509 today — an increase of roughly 88%, including distributions. That's the quiet power of compounding at work. The real issue: Underused TFSA room What's more striking is not the average balance itself, but the unused potential behind it. Canadians in this age group had $61,882 in unused TFSA contribution room. That's a substantial amount of tax-free investing capacity sitting idle. If that unused room had been invested in a broad Canadian exchange traded fund ( ETF ) similar to the iShares S&P/TSX 60 Index ETF, it could have grown to approximately $
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