Is it true that if I fix 5500 dollars at a TFSA (Tax-Free Savings Account) at 5.5% interest and 500 dollars yearly bump then after 40 years someone will retire with a million dollar? Is it an efficient way to retire as a millionaire?
TFSA Savings and Million dollar within 40 years
Here is another link from the daily newspaper Globe and Mail in Canada:
Can anyone kindly tell me if they are right or not?