TSX:BPO.PR.A - Post by User
Comment by
pierrelebelon Apr 30, 2024 4:45pm
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Post# 36015862
RE:RE:Common Sense would tell you to Leverage your TFSA as much as
RE:RE:Common Sense would tell you to Leverage your TFSA as much as
Unfortunately SONOFFERGUS you are wasting your time with someone who thinks it is "common sense" to have a margin account for a TFSA to add leverage to your investment, someone who does not believe in diversification.
Brokers and banks will NOT allow it because it is against the law.
TFSA is simple to understand. You make a yearly contribution (currently up to $7,000; was $6,500 last year and $6,000 the year before).
Anyone who has made maximum contributions since the beginning of the program (2009) would have contributed a maximum of $95,000.
Anyone who dreams of turning this into over a million is highly optimistic or very young.
As stated earlier TFSA are best used for otherwise taxable investments (GIC, bonds, some REITs, etc...) unless of course your funds are limited and TFSA is the only tool available.