Q: Hi, I am wondering if there is any information on TFSA $ amounts being held by
Canadians across the country? What is the average value of a TFSA across the country?
How many have achieved balances of excess 100k 200k 500k or 1 million?
What percentage do these large accounts represent for TFSA holders as a whole (Example 5% have achieved this level of balance)?
I tried finding this info on my own and did not find much that I would consider reliable. Please take as many question credits as you see fit. Thank you for the great service.
Canadians across the country? What is the average value of a TFSA across the country?
How many have achieved balances of excess 100k 200k 500k or 1 million?
What percentage do these large accounts represent for TFSA holders as a whole (Example 5% have achieved this level of balance)?
I tried finding this info on my own and did not find much that I would consider reliable. Please take as many question credits as you see fit. Thank you for the great service.
5i Research Answer:
Data is a little dated. In 2020, 16.1 million Canadians owned a TFSA, more than half of the adult population (54 percent of the tax-filing population, which closely matches the adult population). Of the 16.1 million adults with a TFSA, 3.2 million earned less than CAD $25,000, indicating about one-third of this low-income group owned a TFSA. The average TFSA holds $34,917, according to the 2022 BMO savings study. The other data asked for is not easily available/confirmed.