RE:ETF's are changing the world.Sadly the majority of Canadians are not using the power of the TFSA to their advanatge. Doesn't help that it is misnamed... it should not be called a "Savings Account". I know people who stuff it with cash only or GICs. It should be used for med-high powered growth funds. Not necessarily penny plays either, because losses cannot be used against gains. The loss is gone forever.
The starting max for most adults is currently $75,500 with a fresh new 6k that can be added every new year. Money taken out is tax-free and can be added to the new 6k for re-investment back into the TFSA at the beginning of the next year, again with no tax implications.
Also the ROC on investments like HLL is irrelevant inside a TFSA. I hold some along with other dividend payers, some currently suspended like Chorus but expect that to kick in soon. All tax free and nothing for JT. What's not to like? The TFSA should be the first place someone should max out on.
rockey11 wrote: HHL, HTA, ZWC. yes, so boring....LOL. but what's nice is you don't look at you TFSA for a month or two and then go...WOW!.....and look at all my free dividend money to play with :). :) I can't get my money out of my mutuals (RRSP) fast enough.
Be well Be safe.