2018 is coming in a hurry and a new year means new TFSA investments! EXCITING!
I am still away on vacation, but that TFSA is on my head. I am thinking maybe to do some contribution in kind, to take investment from my non-registered account and have them transfer over the TFSA. In order to do so, if you choose that option, I suggest that you go with investment who had registered the lowest capital gains - because once you switch a non-registered stock into TFSA - you'll have to pay taxes on the capital gains.
Currently, I have BMO that didn't went up a lot, so I could have it transferred over my TFSA. Other than that, I don't have any ides, but try to transferred stocks who pay dividend inside a TFSA, that way, you won't have to pay taxes in the dividend income.
Hi Sunny, I just stumbled on to your blog. I am a new investor and would like to ask you what TFSA you went with. I want one where I get to pick the stocks not the bank doing it. Any suggestions? Thanks Anita.
Welcome back! I am anxious to see if you have a suggestion for a TFSA contribution for 2018!
ReplyDelete2018 is coming in a hurry and a new year means new TFSA investments! EXCITING!
ReplyDeleteI am still away on vacation, but that TFSA is on my head. I am thinking maybe to do some contribution in kind, to take investment from my non-registered account and have them transfer over the TFSA. In order to do so, if you choose that option, I suggest that you go with investment who had registered the lowest capital gains - because once you switch a non-registered stock into TFSA - you'll have to pay taxes on the capital gains.
Currently, I have BMO that didn't went up a lot, so I could have it transferred over my TFSA. Other than that, I don't have any ides, but try to transferred stocks who pay dividend inside a TFSA, that way, you won't have to pay taxes in the dividend income.
Hi Sunny, I just stumbled on to your blog. I am a new investor and would like to ask you what TFSA you went with. I want one where I get to pick the stocks not the bank doing it. Any suggestions? Thanks Anita.
ReplyDeleteHi Anita, you can open a TFSA account at any broker, and that way, you'll be able to invest inside a TFSA account.
ReplyDelete