Is it just me or is the TFSA system incredibly generous ?

Now I could be wrong but my understanding of the US equivalent (Roth IRA) is that you get the fixed limit per year of appoximately $5000 that doesn’t accumulate if it’s not used. In contrast to the Canadian TFSA that does accumulate it’s annual limit.I was roughly 27 years old when I properly understood this so imagine my surprise when I realize that I’m free to invest upwards of $50k completely tax free.I’m not informed on what equivalent TFSA programs are like in Europe or other developed countries but on the surface I must admit that our particular system seems to be an incredibly generous wealth building tool for particularly middle-class working incomes.Is there a catch ? Or perhaps is the TFSA program not as generous as it seems when compared to other countries ? Interested to hear your thoughts via /r/PersonalFinanceCanada https://ift.tt/2WfqFQv