Opening a FHSA right after graduating university
I am a university student who is graduating this semester and have secured a contract role which I’ll be working full-time.
I was thinking about opening a FHSA, however my one concern is that it has a 15 year limit to use the funds. I would be 37 at that time, and although that seems like a generous amount of time to me I’ve heard the age of the average home buyer is 36.
I really am not sure when I would want to buy a home but I also want to maximize the time I get for the the funds to grow tax-free. Therefore, should I wait or go ahead and open it now so I have more time to accumulate interest tax-free?
(I also maxed out my TFSA already because I lived at home during university and worked throughout school.)
I appreciate any responses.