Benefits of a TFSA

The Tax Free Savings Account (TFSA) is a gift from the Canadian government and arguably functions as a less restrictive younger cousin to the RRSP.
It was introduced in 2009 and it is the best place to start investing, and while it does limit the amount you can contribute per year (currently $7000), the money can grow tax-free forever, as it is not locked in place, giving you tremendous freedom in how you want to use it.
If you wanted to take that money out the next year, you're more than welcome to without any tax consequences. If this were an RRSP, it would get quite complicated, as it's a giant pain in the butt if you withdraw any of it before you're retired. I do not recommend it unless absolutely necessary.
The TFSA is the best place to start investing your money, because you receive the full benefit of a tax shelter, and you can take that money out whenever you want. The reality of life is that you're going to need access to some of your money at some point, and having money in a TFSA enables this, while growing your money, but also having it remain liquid, so you can easily pull it out IF you need it. If you don't end up needing to, that is great.
One last thing: anything in your TFSA will go to your spouse or beneficiaries tax-free after you die. it is, for lack of a better word, perfect!
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This content is for educational and informational purposes only. Please consult with a financial advisor before making any financial decision to make sure it's suitable for your specific situation and aligning with your goals!