Best TFSA for a dummy like me?

[Taxsaver]

I'm currently using the ING TFSA savings account to accumulate the savings, then transfer the money to my waterhouse account. I use the ING TFSA because it's currently paying 3% interest, which is way higher than any other savings account that i can find.

Open one with my referral key (orange key) and we both get a $25 bonus sign up fee... how can you say no to free money...??

orange key: 34753714S1

What is an orange key???

[shaune]

Check out a Mortgage Investment Corporation (MIC) for +10% annual returns. Income can be re-invested so interest compounds. Most want around $5k minimum and there are a few start-up fees. Once you have a bit of money invested the fees are a small percentage measured against your return. Kicks the crap out of GIC's or high risk stocks. MIC's work for all registered investments. Need an administrator like Olympia Trust to handle the paperwork. That's where the fees come from.
A good MIC I use is Axcess Capital. Very conservative with a low LTV ratio.
If you have a bit more cash available, look at syndicated mortgages. You can get 10-15% depending on risk profile. Axcess is a good source for these investments as well. Double your money in 6 yrs.
Your mutual fund salesman will lie to you and tell you these are illegal uses for your RRSP's. They don't want to lose their commissions!!!!!!

[Toronto.gal]

What is an orange key???

It's a referral program that ING offers its new account holders on an initial deposit of $100. It gives $25 to both, the new clients & the one that referred them. You can earn up to $2,000 through this referral program,

[brad]

FYI, ING just dropped the rate for TFSAs from 3% to 2%. I think everyone saw this coming; I'm actually surprised they're keeping it as high as 2%, but we'll see how long that lasts!