TFSA in Canada.
Tax Free Savings Account.
We have this investment vehicle where we can contribute 5 or 6k a year. Life time limit right now is 69,500 so far. All money made is tax free.
Right not tax free in and out. The other option is tax free in and pay taxes coming out. Also 401k tax free in and pay taxes coming out. No lifetime limits.
Most 401k's have some sort of employer match to them too. Usually something like dollar for dollar first 3%.
TFSA in Canada.
Tax Free Savings Account.
We have this investment vehicle where we can contribute 5 or 6k a year. Life time limit right now is 69,500 so far. All money made is tax free.
They will of course be fine. However I'm not liking it. My biggest position is in TD. Pre-Corona. Bought some more near the first bottom at $54.
When it creeped up to $60 I thought I was fine. Now back to $54.
I'm thinking of selling it all, and starting over with something else. Thoughts?
I don't know much about Canadian banking rules....these bank have never see a credit cycle like this.
Hopefully they handle the contraction period.. things are going to get interesting at that point.
