You'll often hear condensation called a warming process, which can be confusing since condensation has to do with cooling. While condensation does cool the air inside of the air parcel, in order for that cooling to occur, that parcel must release heat into the surrounding environment.
A Tax-Free Savings Account (TFSA), is an account where you can save or invest up to $10,000 a year. 1 Unlike other types of savings, youâre not taxed on the income you earn.Itâs a great way to save for your short or long-term goals; because it lets your savings grow â tax-free. Tax-Free Savings Account (TFSA) is a registered savings account regulated by the federal government. Through a TFSA, you can put your savings into eligible investments and not pay tax on the investment income you earn.
According to a 2015 Government Accountability Office (GAO) study, people between the ages of 55 and 64 with any retirement savings had a median amount of $104,000 in their nest eggs. For households with members between 65 to 74, the median value in retirement savings was $148,000. These figures are equivalent to an inflation-protected annuity of $310 and $649 per month, respectively. These numbers are far below suggested minimums required for maintaining a comfortable lifestyle.