# 2011 TFSA contribution room, your plan



## larry81 (Nov 22, 2010)

Wondering what everyone will be purchasing with the 5000$ TFSA annual contribution coming in a few weeks.

Personally, i am pondering the idea to add more XRE


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## davext (Apr 11, 2010)

I've done ok with XRE but I don't believe it has much room to grow. If I'm going with a REIT, I'd pick an individual one instead of an ETF. I have Dundee Wealth and Leisure World.


With another $5,000 for the TFSA, I'll probably do some rebalancing instead of trying to spread out the $5,000, I'll probably sell some of my existing holdings first. 

MFC really decimated my TFSA for a while, now I'm a little bit more than even.


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## the-royal-mail (Dec 11, 2009)

Well, I'm expecting an interest payment in the account soon, as mine pays out interest every six months. I will also be contributing the full $5K in a couple of weeks, which should keep me at maxed-out status for now. I don't know for how many years I will be able to keep contributing at this rate, but I'll do it as long as I can.

At this time, the TFSA is being used to house my emergency fund. Once I have enough cash saved elsewhere for this purpose, I will start to invest the money that's in the TFSA. But I'm not there yet.


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## Four Pillars (Apr 5, 2009)

My plan is not to contribute. RRSP and mortgage are the priorities!


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## marina628 (Dec 14, 2010)

I have a bit of room left in my 2010 TFSA ,only about $1300 ,should i put that in before December 31?Or can i put that amount and the $5000 for 2011 in January?


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## larry81 (Nov 22, 2010)

What about high yield bonds ?


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## slacker (Mar 8, 2010)

Same plan as before: follow my asset allocation and maximize tax efficiency.


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## dogcom (May 23, 2009)

Four Pillars how about putting money into the TFSA as an emergency fund.


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## Toronto.gal (Jan 8, 2010)

marina628 said:


> I have a bit of room left in my 2010 TFSA ,only about $1300 ,should i put that in before December 31?Or can i put that amount and the $5000 for 2011 in January?


There is no limit on how much contribution room you can accumulate, so if you contributed $3,700 in 2010, your contribution room for 2011 would be $5,000 *plus* your carried forward amount from 2010 of $1,300.

If you were to withdraw your full 2010 contribution of $3,700 in the same year, in 2011 you would have $5000 + $3,700 and that is what I meant by no limit on accumulation.


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## Four Pillars (Apr 5, 2009)

dogcom said:


> Four Pillars how about putting money into the TFSA as an emergency fund.


My wife & I already have $20k in our TFSA emergency fund. I don't want to put any more in at this time.


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## Four Pillars (Apr 5, 2009)

marina628 said:


> I have a bit of room left in my 2010 TFSA ,only about $1300 ,should i put that in before December 31?Or can i put that amount and the $5000 for 2011 in January?


You can carryover any unused contribution room forever.


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## Toronto.gal (Jan 8, 2010)

My plan is to make the account grow!

I use my TFSA mostly for trading, this was not possible in the 1st year due to the $5K max., but now that I have made a very nice profit, I want to make the account grow as fast as possible before the gov. will change the rules. I know this is not what the CRA had in mind, however, it is legal for the time being and I hope it will continue as what we do with our $5K contribution limit should be entirely up to us and not the government! Some people don't save at all and pay no taxes as a reward [I'm not talking about those who are unable to save, have debts to pay, etc.]. Those who do manage to save for their TFSA's, should be left alone IMHO.

I should mention that this is my approach as I'm debt free.


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## larry81 (Nov 22, 2010)

I have 10k in my TFSA, REIT (XRE), currently at same value as when i purchased them.

I will have about 20k RRSP contribution room in 2011, would it make sense to transfer the 10k in my TFSA to my RRSP ? The way i see it, this would land me a tax defferal

The cash or maybe, in kind...


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## the-royal-mail (Dec 11, 2009)

Hi torontogal, I've heard that comment before, about the gov't not having this in mind (re: huge growth) but I'm not sure about that. Reason I say this is when I setup my TFSA last year, they asked me very early on about investing the money. They made it quite clear that they intended for me to invest this money so that it would grow.

So I guess I am just puzzled by the concern that you and some others on this forum seem to have about the gov't not intending for growth in these accounts. Keep in mind this was a tax cut from their perspective, to encourage us to keep more money in our pockets.


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## DavidJD (Sep 27, 2009)

I will be transfering-in $10K worth of stocks into my wife's and my accts. I am hoping the price will be 'low' at the time I decide to transfer, to maximize the #of units. For stocks that tend to swing in price, this can be a big difference.


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## atrp2biz (Sep 22, 2010)

the-royal-mail said:


> Hi torontogal, I've heard that comment before, about the gov't not having this in mind (re: huge growth) but I'm not sure about that. Reason I say this is when I setup my TFSA last year, they asked me very early on about investing the money. They made it quite clear that they intended for me to invest this money so that it would grow.
> 
> So I guess I am just puzzled by the concern that you and some others on this forum seem to have about the gov't not intending for growth in these accounts. Keep in mind this was a tax cut from their perspective, to encourage us to keep more money in our pockets.


Absolutely. Mark Carney would like nothing more than for all Canadians to contribute what they can do their TFSA.


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## Sampson (Apr 3, 2009)

Toronto.gal said:


> I want to make the account grow as fast as possible before the gov. will change the rules.


No way! 

Remember back in Oct-Mar 08-09, somewhere in that time when Stephen Harper told Canadians we should be using the market crash as an opportunity to invest? Coincidence the TFSAs were started soon there after? Methinks not.


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## marina628 (Dec 14, 2010)

I plan to sit on cash in mine this year as in January I make my RDSP contribution and will have $5000 there to buy Stocks with .I joined the forum to learn from you guys so I am playing things very safe until I learn as much as I can .I feel like I am doing a puzzle and still missing some pieces before I can jump in with both feet and do what some of you are doing.
My only stocks are CIBC ,BNS and TD which have increased 4.5% in 2010 and a couple days ago i bought Fortis.
I plan to stick to stocks that pay Dividends ,mainly the bank stocks for now while I get more comfortable .I don't plan to access any of my investments for at least 15 years as I am only 43 .


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## Toronto.gal (Jan 8, 2010)

the-royal-mail said:


> Hi torontogal, I've heard that comment before, about the gov't not having this in mind (re: huge growth) but I'm not sure about that. Reason I say this is when I setup my TFSA last year, they asked me very early on about investing the money. They made it quite clear that they intended for me to invest this money so that it would grow.
> 
> So I guess I am just puzzled by the concern that you and some others on this forum seem to have about the gov't not intending for growth in these accounts. Keep in mind this was a tax cut from their perspective, to encourage us to keep more money in our pockets.


Yes, we were indeed encouraged to open TFSA's for saving/investing purposes, however, I don't think in the early stages of its implementation, that they saw these as trading vehicles nor that they had any idea as to how much profit these accounts could actually make for some. I think someone on this forum mentioned that he/she was up to $70K and I have heard of even higher amounts. But anyway, I hope that the government will not interfere with anyone's investing methods & abilities, no matter how rich some may get [or poor for that matter]!

*Sampson:* You're correct about Harper's comment, I only wish I had listened to him back then, but unfortunately, I only started my DIY investments in late 09; oh well, as the French would say, 'mieux vaut tard que jamais.'


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## Four Pillars (Apr 5, 2009)

Toronto.gal said:


> My plan is to make the account grow!
> 
> I use my TFSA mostly for trading, this was not possible in the 1st year due to the $5K max., but now that I have made a very nice profit, *I want to make the account grow as fast as possible before the gov. will change the rules. I know this is not what the CRA had in mind,* however, it is legal for the time being and I hope it will continue as what we do with our $5K contribution limit should be entirely up to us and not the government! Some people don't save at all and pay no taxes as a reward [I'm not talking about those who are unable to save, have debts to pay, etc.]. Those who do manage to save for their TFSA's, should be left alone IMHO.
> 
> I should mention that this is my approach as I'm debt free.


TO Gal - I'd like it if you can give us your TFSA annual performance each year. 

There seems to be a few people in here who have extreme confidence in their ability to generate outsized returns in their TFSA, which I think is misplaced (over the long run).


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## the-royal-mail (Dec 11, 2009)

atrp2biz said:


> Absolutely. Mark Carney would like nothing more than for all Canadians to contribute what they can do their TFSA.


To add fuel to the fire, here is an interesting article about how we are in record debt as individuals. It is from a week ago but I also saw a blurb about this on CBCN today.

http://www.theglobeandmail.com/repo...sehold-debt-ratio-hits-record/article1835268/


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## m3s (Apr 3, 2010)

I moved my TFSA from a savings acct to trading in Jan 2010 to buy mostly Cdn dividend stocks. For 2010 my return was about 5% mostly held down by 1 mid cap and below my benchmark sleepy portfolio of about 10%

$5k is ready to deploy in Jan 2011 and I will buy more Cdn dividend payers. I'm really limited by the TFSA room as the RRSP is not that interesting for me while my taxes are low


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## Alaric (Dec 23, 2009)

mode3sour said:


> I moved my TFSA from a savings acct to trading in Jan 2010 to buy mostly Cdn dividend stocks. For 2010 my return was about 5% mostly held down by 1 mid cap and below my benchmark sleepy portfolio of about 10%


When transferring funds from one account to another (savings to trading), is that considered a withdrawal of funds? I did a similar transfer this year and am worried about being penalized. Both accounts are held with the same FI.


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## Siciliano698 (Nov 29, 2010)

Im looking to invest it in corperate bond, this one looks tempting for a 1 year term, any one familiar with with BMO CAPITAL bonds?

BMO CAPITAL TR 6.685% 31DEC49 Approx.Semi-Annual Yield 1.302% 31 Dec 2011


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## Ben (Apr 3, 2009)

I'm with Four Pillars on this one. TFSA savings account maxed for the last 2 years, and not planning to contribute this year. 

Full speed ahead on the mortgage.


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## Xander (Apr 3, 2009)

I'd just like to clarify something regarding my tfsa.

Let's say I contributed $5000 to my tfsa on Jan 1st, 2010 and it grew to $5400 today. 
If I withdraw the $5400 from that tfsa on Dec 30th 2010 to reinvest elsewhere next year do I retain the $5400 worth of room come Jan 1 2011 or does it revert back to the original $5000?

Thanks in advance for the clarification.

Merry Christmas to everyone and may 2011 be a profitable one.


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## Toronto.gal (Jan 8, 2010)

Xander: gains made within the TFSA and withdrawn *add* to your contribution room for subsequent years.

As well, any unused contribution room is carried forward indefinitely.

Happy Holidays to you too!


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## lister (Apr 3, 2009)

Toronto.gal said:


> I think someone on this forum mentioned that he/she was up to $70K and I have heard of even higher amounts.


That would be me. My TFSA peaked at $100K but has since retreated back to the low $90K's. If 2011 plays out as expected I should be around $200K at least.


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## Xander (Apr 3, 2009)

Wow that is amazing!! Congratulations!


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## lister (Apr 3, 2009)

Four Pillars said:


> There seems to be a few people in here who have extreme confidence in their ability to generate outsized returns in their TFSA, which I think is misplaced (over the long run).


I'm not doing this for the long run. This is strictly a short time thing. If I reach the dollar figure I'm aiming for, most if not all, will be switched over to a dividend & distribution paying strategy. I may still dabble in this sort of thing but on a small scale using throwaway money.

I have no illusions of my ability. If it doesn't work or works partially, I still have a job. I'm just trying to avoid _having _to work until I'm 65 or worse. Or generate enough income that I can afford to take a pay cut when switching careers.


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## the-royal-mail (Dec 11, 2009)

lister said:


> That would be me. My TFSA peaked at $100K but has since retreated back to the low $90K's. If 2011 plays out as expected I should be around $200K at least.


Could you remind us again how you did that?


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## Toronto.gal (Jan 8, 2010)

Four Pillars said:


> 1.TO Gal - I'd like it if you can give us your TFSA annual performance each year.
> 
> 2. There seems to be a few people in here who have extreme confidence in their ability to generate outsized returns in their TFSA, which I think is misplaced (over the long run).


1. No need to brag.  As mentioned earlier, I only began handling my own investments in late 2009 [got out of MF's and began reading a lot], and since then, I had the intuition, timing + luck to have picked the right stocks and hence did quite nicely, but nowhere near $70K. I realize my returns won't be as high once the markets normalize.

2. Not sure if there is a bit of sarcasm in your comment, but yes, ability/confidence/timing/luck and the willingness to take calculated risk do help, but sure, not for all as everyone's situation is different.


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## Toronto.gal (Jan 8, 2010)

lister said:


> That would be me. My TFSA peaked at $100K but has since retreated back to the low $90K's. If 2011 plays out as expected I should be around $200K at least.


Ah, it was you! Congratulations and yes, if you're fearless, I agree that in 2011 you can double $90K. 

Best of luck & happy trading!


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## Jungle (Feb 17, 2010)

I think it's great that there are women on this board that are passionately interested in DIY personal finance. I love the avatar above^

We'll have quite a bit of room for our TFSA, like 20k worth. Right now the priority is just maxing my RRSP before Feb 29, so no money for TFSA. IN addition, paying down debt on 0% credit card coming up for April. So again, no money for TFSA until after April.

After April, we'll start using our TFSA to save for closing costs on a house up size and also save a TFSA retirement fund for my wife.


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## Toronto.gal (Jan 8, 2010)

Jungle said:


> I think it's great that there are women on this board that are passionately interested in DIY personal finance. I love money gals pic with all that money lol.


Thank you Jungle, I won't change the pic. 

I feel disappointed that it took the financial crisis to open my eyes, but not looking back anymore and encourage all my friends to read, read, read! Speaking of reading, loved Peter Lynch's 'One Up on Wall Street.'


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## the-royal-mail (Dec 11, 2009)

I think it's great how many of us CMFers realize the value of this TFSA. It's one of my favourite savings vehicles.

But I have a feeling this type of account if largely underutilized among the population. I wonder if there are any stats out there showing the utilization rates of the TFSA. Like how many CDNs use or have a TFSA, how much money has currently been saved in TFSAs etc. This type of account has been around long enough, there should be some stats. A quick google search produced nothing of value.


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## Rysto (Nov 22, 2010)

I know that I saw some news stories about it recently but this was the best that I can find:

http://www.theglobeandmail.com/glob...that-tfsa-can-be-such-a-tease/article1443909/



> Of the money Canadians contributed to TFSAs, 71 per cent was booked with retail banks, with 57.3 per cent deposited in premium savings accounts, 30 per cent in term deposits and the rest in mutual funds and other holdings.


It's not clear whether the 87% in savings accounts and GICs applies only to the 71% of cash with the banks, although I wouldn't at all be surprised if it's 87% of all money in TFSAs anywhere are in short-term guaranteed vehicles.


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## lister (Apr 3, 2009)

the-royal-mail said:


> Could you remind us again how you did that?


Certainly. I'm only going to name stocks I'm no longer involved in. I don't want to jinx a good thing going. Me and Murphy have a long history together. 

I've held WRK.UN for a while back before the split and when it was paying out over a 20% yield. I made some good money there from the distributions and the sell. I dabbled in warrants a bit and lost a smidge. Oh well, interesting experience. I made a little money with RIM and Apple. The other bulk of the cash was from ELE. I had been watching ELE for some time before jumping in at the low teens (when I started watching it the SP was in the single digits.) I bought and sold several times until ELE was bought out for $0.36 a share. I didn't wait around for that payout and sold when the stock price went a bit higher than $0.36.

I took that money and put it into three penny mining stocks. One has done extremely well, one has done so-so but is expected to break out in 2011 and the third was a mistake. I made that same mistake with my spouse's TFSA (that one has only doubled.) I fixed that mistake in my TFSA earning a tiny profit and putting that cash into the current so-so stock. Now I have a few more that I'm eyeing with our 2011 contributions and the eventual sell-off of the mistake in the spouse's account.

So that's what I've done. It's very risky but it's something that I can live with if it all goes to **** though I don't think that'll happen.


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## humble_pie (Jun 7, 2009)

women investors: not only interested but also fearless & on the whole pretty good at it.

my tfsa was up more than 40% in '09.
2010's not over yet but it's up 73% since inception at 17,369.00.

i took risks. Gold, energy, even, briefly, a diamond mine. The account was so small it was like a bonsai tree or a toy. It's easier to risk small money than large significant amounts.

mademoiselle de toronto is unusual in that she says she's something of a novice investor, but her stock picks are smart, insightful & highly sophisticated. She has the knack. No spread sheet, re-balancing technique or financial advisor can replace it.

looking forward, one senses the high risk levels after nearly 2 years of market advance. I find myself wondering if the bmo purchase of mi is the thin edge of a wedge striking into canadian bankland. Rumour is rife that bmo was induced or pressured to buy this venerable but wounded milwaukee institution by several US authorities that wanted the tarp monies repaid, led by the FDIC that didn't want the problem of bailing out such a huge institution, given that the FDIC is bankrupt itself. Rumour also says that canadian banks have historically overpaid for US financial institutions. Royal, td, bmo with longtime chicago subsidiary harris - no canadian bank has recently produced a profitable US supernova. And further, right now it's not in the devastated midwest that anyone looks for growth.

on the other hand it's possible that bmo made a strategic capture at a strategic early stage in US recovery. Time will tell.

all this by way of saying that i haven't sold any banks, but i wouldn't buy any more either. And i might get more cautious with my tfsa bonsai tree in 2011.


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## warp (Sep 4, 2010)

Siciliano698 said:


> Im looking to invest it in corperate bond, this one looks tempting for a 1 year term, any one familiar with with BMO CAPITAL bonds?
> 
> BMO CAPITAL TR 6.685% 31DEC49 Approx.Semi-Annual Yield 1.302% 31 Dec 2011


Why do that???

Corproate bonds yields are lousy.....

You could open up a TFSA at Peoples Trust, and get 3%, 

( I dont think this a teaser rate either!)

Or open one up at ALLY...


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## the-royal-mail (Dec 11, 2009)

Thanks very much lister. I appreciate you sharing your methods with us and I understand and know murphy as well. I see you firmly holding onto a piece of wood, there. 

Could you also let me or us know what type of account you have that allows you to make such pics? Is it your own brokerage online? I don't think my bank TFSA would allow me that kind of flexibility as you describe. I assume they'll want me to only do occasional purchases and swaps, like with my RRSP. Those mutual funds have some stern warnings against "excessive trading" and I'm guessing the same would apply if I bought those same funds in my TFSA.

Thanks again.


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## marina628 (Dec 14, 2010)

lister said:


> Certainly. I'm only going to name stocks I'm no longer involved in. I don't want to jinx a good thing going. Me and Murphy have a long history together.
> 
> I've held WRK.UN for a while back before the split and when it was paying out over a 20% yield. I made some good money there from the distributions and the sell. I dabbled in warrants a bit and lost a smidge. Oh well, interesting experience. I made a little money with RIM and Apple. The other bulk of the cash was from ELE. I had been watching ELE for some time before jumping in at the low teens (when I started watching it the SP was in the single digits.) I bought and sold several times until ELE was bought out for $0.36 a share. I didn't wait around for that payout and sold when the stock price went a bit higher than $0.36.
> 
> ...


You made all this month on a $20,000 investment? I can afford to lose $10,000 that i will put in our TFSA so maybe you will share some tips with me?I bought some mining stocks back in 1997 that i still have ,my little $1500 is worth $5700 today so i know you can make huge gains with the right ones.


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## MikeT (Feb 16, 2010)

1500 to 5700 in 14 years is about 10% annualized return. Not bad.

20k to 100k in a year is 500%. There might be a little hot air in this thread. But you guys believe whatever you like.


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## lister (Apr 3, 2009)

the-royal-mail said:


> Thanks very much lister. I appreciate you sharing your methods with us and I understand and know murphy as well. I see you firmly holding onto a piece of wood, there.


Yep and it's a baseball bat too! 



> Could you also let me or us know what type of account you have that allows you to make such pics? Is it your own brokerage online? I don't think my bank TFSA would allow me that kind of flexibility as you describe. I assume they'll want me to only do occasional purchases and swaps, like with my RRSP. Those mutual funds have some stern warnings against "excessive trading" and I'm guessing the same would apply if I bought those same funds in my TFSA.


I use Scotia iTrade. Aside from easy transfers out *grumble*, I can do pretty much anything I want with it. I'm sure any other online brokerage works the same way.


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## marina628 (Dec 14, 2010)

MikeT said:


> 1500 to 5700 in 14 years is about 10% annualized return. Not bad.
> 
> 20k to 100k in a year is 500%. There might be a little hot air in this thread. But you guys believe whatever you like.


I have a long time to sit on my investments 15-22 years from now before i would need to touch them so I am happy to go with medium risk ,if I could get 8-10% I will be very happy.I am sure it is possible to earn 500% in a year but would need quite a bit of luck in there as well.
I prefer to go the practical and even if i saw a 10% annual return on a few things would be great for 2011.I am handling my own finances but have so much to learn .What sort of blogs ,newspapers are you reading to keep on top of all this?I can dedicate 2-3 hours a day educating myself just feel like I signed up for a PHD program since joining this forum lol.Lots to learn !


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## lister (Apr 3, 2009)

MikeT said:


> 20k to 100k in a year is 500%. There might be a little hot air in this thread. But you guys believe whatever you like.


No hot air here but you're free to believe whatever you like, the sky can certainly be purple in your world. There is one other poster here that has posted similar gains in his TFSA.

If you pick (or luck out with) the right penny stocks returns like these are definitely achievable. Put $10K in a $0.05 stock, get 200,000 shares and the stock goes up to $0.40 and it's worth $80K. I've found lots of examples of this happening. I've also found lots of examples of penny stocks basically doing nothing or folding. It's very risky and I fully acknowledge that. Some people like jumping out of planes, some people like to handle dangerous animals, I like to take some gambles with my money.


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## lister (Apr 3, 2009)

marina628 said:


> You made all this month on a $20,000 investment? I can afford to lose $10,000 that i will put in our TFSA so maybe you will share some tips with me?I bought some mining stocks back in 1997 that i still have ,my little $1500 is worth $5700 today so i know you can make huge gains with the right ones.


Yeah, combined we're about $110K-$120K right now. I haven't even talked about my RRSP.  The only tips I have is to be prepared to lose your money and do your research.


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## Toronto.gal (Jan 8, 2010)

humble_pie said:


> 1.women investors: not only interested but also fearless & on the whole pretty good at it.
> 
> 2. on the other hand it's possible that bmo made a strategic capture at a strategic early stage in US recovery. Time will tell.


1. Yes, we are & thank you! 

2. I believe so too. From what I've read, the deal will effectively increase its US assets by 50%. Also read a very interesting article concerning the purchase in The Australian, but can't find the link now; might post it later.


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## MikeT (Feb 16, 2010)

Ya, I'm sure it's possible. But what's more probable is that you're making up a story for us. I have been doing this long enough to see right through it, but others think you're being truthful. Royal is asking you for investing advice for pete sake. Others are listening to you. Why bother continuing? Very irresponsible.


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## marina628 (Dec 14, 2010)

Even if it is a true story , these stories are not happening every day .To me when i read it i thought it is like winning the lottery .It may happen to others but probably not to me .Would be a nice exercise to name stocks he will buy in January and see how close they come again.


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## MikeT (Feb 16, 2010)

He won't. I will guarantee he won't. He does want to "jinx a good thing going" according to him. The truth is he won't because then we could see the emperor without his clothes.


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## marina628 (Dec 14, 2010)

Well here are my plans for January 2011
BMO $2500 
BNS $2500 
REI.UN $2500 Hubby's TFSA
Enbridge $2500 Hubby's TFSA

I left myself $1500 to buy some penny stock for .05 cents which will probably be worth $360 in 2012


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## lister (Apr 3, 2009)

MikeT said:


> He won't. I will guarantee he won't. He does want to "jinx a good thing going" according to him. The truth is he won't because then we could see the emperor without his clothes.


Enjoy your purple sky.


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## MikeT (Feb 16, 2010)

See, no stocks. Because he's full of it. 

Most professionals can smell bs a mile away. But amateurs believe you. And they end up taking risks they shouldn't. So do us all a favor and keep your magical stories on the kids forums. Kids like magic, and they aren't saving for retirement yet so you aren't going to do any damage.


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## I'm Howard (Oct 13, 2010)

30%XIC

25%XCB

10%CBQ

15% CDZ

10% GLD

10% cA$h

We will add the $5,000 annually, maintain same ratios, leave in will or give at a time we deem appropriate.


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## lister (Apr 3, 2009)

MikeT said:


> See, no stocks. Because he's full of it.
> 
> Most professionals can smell bs a mile away. But amateurs believe you. And they end up taking risks they shouldn't. So do us all a favor and keep your magical stories on the kids forums. Kids like magic, and they aren't saving for retirement yet so you aren't going to do any damage.


Enjoy your purple sky.


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## MikeT (Feb 16, 2010)

What's the matter? Afraid we will see you for what you are? A big phony?

You won't post picks, guaranteed. We all know now what a big liar you have been. 

To everyone watching this, I'm sorry for calling him out like this, but it had to be done. Pie in the sky stories like this can seriously damage young and new investors. People read them and think they might be able to duplicate performance like that if they take huge risks. In reality, when people take oversize risks on penny stocks over time they lose. It is akin to gambling in casinos. And gamblers stories are only about their wins, and they are always exaggerated. A gambler never talks about their losses.


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## the-royal-mail (Dec 11, 2009)

Sorry guys, but what's going on here? Is someone fooling with the forums?


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## DavidJD (Sep 27, 2009)

Seriously. So and so has made their point that they suspect a certain poster's TFSA results. Fine.

If that person does not want to elaborate that is also fine and should be accepted. Hounding someone to do so is pointless. Let's move on. It makes this forum look like a schoolground.

How about the original post/question?


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## Greyhound86 (Feb 21, 2010)

I plan on contributing to my existing TFSA I hold with an online brokerage and buy more small/midsize energy stocks.


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## RealizedReturns (Oct 16, 2010)

For me, about half will go to BMO stock, the other half will be for "playing with" in some riskier stocks.

I've been trying to, unsuccessfully, grow my TFSA rapidly. After $10k in contributions it was actually cut down to less than half at one point. I am finally back in the black though after making a series of good trades in it.


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## martinv (Apr 30, 2009)

Third year for me. Another $5,000, so $15,000 in BNS (at least it is not "bs"). Small gains plus dividends, happy enough.
Love the TFSA concept, all gains tax exempt forever or until such time that the government of the day changes the rules!


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## Bupp (Nov 13, 2009)

I'll be buying some Encana.


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## lister (Apr 3, 2009)

MikeT said:


> What's the matter? Afraid we will see you for what you are? A big phony?
> 
> You won't post picks, guaranteed. We all know now what a big liar you have been.
> 
> To everyone watching this, I'm sorry for calling him out like this, but it had to be done. Pie in the sky stories like this can seriously damage young and new investors. People read them and think they might be able to duplicate performance like that if they take huge risks. In reality, when people take oversize risks on penny stocks over time they lose. It is akin to gambling in casinos. And gamblers stories are only about their wins, and they are always exaggerated. A gambler never talks about their losses.


I will not be goaded into anything especially by someone like yourself. My posts stand and have plenty of caution mentioned in them. I don't advocate anything, I was merely sharing my results. What you choose to believe is of no relevance to me and I suspect the same for many others too.

This is my last reply to you. If this board software had a twit filter you'd be in it.


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## crazyjackcsa (Aug 8, 2010)

To get back on topic, I'm sticking with parking it in the PC account. The interest is lame, I know, but it's a good place to toss the rainy day account. My wife likes a large cash safety net, so it makes sense.


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## warp (Sep 4, 2010)

I always max out all our TFSA's ( in my family).
I LOVE TAX FREE INCOME!!...( probably because I HATE TAXES)

Did pretty well over the last 2 years with Interpipe, Pembina, Altagas
Not so well with CML Healthcare.

Only real loser was Armtec.....but a small position, and will be buying more.

With the 2011 contributions it seems more difficult to put the mioney to work , with the runup in stocks this year.

You cant buy any US stuff that pay dividends in the TFSA due to the tax withholding and the fact that you will never be able to recover that foreign tax.

I just cant stand leaving the money in cash or money market/bonds as yields are so pathetically low. 

Posters have mentioned BMO, BNS...perhaps the banks are a good play, along with Great West or Sunlife.

good luck to all.


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## the-royal-mail (Dec 11, 2009)

crazyjackcsa said:


> To get back on topic, I'm sticking with parking it in the PC account. The interest is lame, I know, but it's a good place to toss the rainy day account. My wife likes a large cash safety net, so it makes sense.


I have done the same thing and I agree with you. BUT, I just got paid for my 2010 TFSA and the deposit was $65 for the entire calendar year. 

How would it be if we were to invest our money in high-yield funds and keep close watch? If things start to tank, sell quickly to protect our rainy day funds.

They told me that I could have my money by the next business day if I ever needed it, so we should be able to sell any unwanted funds and get our cash within a day.

Seems to me this would provide better returns than $65 a year.

Don't you agree?


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## crazyjackcsa (Aug 8, 2010)

I just looked at the intrest I made in the PC account over the last year. It was about 145 dollars. I agree that a high yield fund, or almost anything else has the potential for better returns, but, you don't live with my wife!


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## the-royal-mail (Dec 11, 2009)

crazyjackcsa said:


> I agree that a high yield fund, or almost anything else has the potential for better returns, but, you don't live with my wife!


Explain. She insists on having cash?


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## Cal (Jun 17, 2009)

crazyjackcsa said:


> I just looked at the intrest I made in the PC account over the last year. It was about 145 dollars. I agree that a high yield fund, or almost anything else has the potential for better returns, but, you don't live with my wife!


I don't understand why you would keep an investment (even if you call it your emergency fund) in your TFSA. The best purpose of a TFSA is to shelter investments from tax payable. So if you have any non registered invstments, I would recommend a switch.

Put your emergency fund in a 'high' yield account.


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## Ottawa John (Jan 4, 2011)

*Tfsa*

I was thinking XDV because I love dividends or maybe XEG (peak oil and all) but when I was looking at what makes up the XDV lately I noticed that Bonterra Energy is the number 2 holding even though they are a tiny company. They used to be a REIT but since coverting they meet the criteria to be place in the XDV. The XDV must have bought a big chunk of the company because the volume really spiked at one point and the share price really jumped. I'm tempted to put my $5400 ($400 of distributions from my TFSA last year) into Bonterra because I think oil prices are only going higher and I like the dividend yield (currently around 5%). I'll pull the trigger tomorrow morning unless I get scared and just buy XDV.

In my first year in the TFSA I got lucky and bought XRE close to the bottom. Last year I bought XEG and it did nothing until the end of the year ending up about 6% + 2% in dividends for the year. I did great in year one and not bad for year two but I think nice returns will be tougher going forward with the market where it is.

I got scared and ended up buying the XDV on Tuesday.


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## Addy (Mar 12, 2010)

My husband and I are not sure what we will do with our TFSA's. We have alternatingly $250 going into our (brokerage) TFSA accounts and what we have done so far is occasionally buy companies that we think sound fruitful, and keep cash on hand for dips in the markets - which I'm hoping 2011 will bring plenty of. Cold hard crash is what I would like to see!


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## crazyjackcsa (Aug 8, 2010)

Cal said:


> I don't understand why you would keep an investment (even if you call it your emergency fund) in your TFSA. The best purpose of a TFSA is to shelter investments from tax payable. So if you have any non registered invstments, I would recommend a switch.
> 
> Put your emergency fund in a 'high' yield account.


My Wife does insist on having a high amount of cash on hand, roughly a full year of expenses, to that end, we have it sitting in our TFSA's at PC, teaser rate of 2.5% for the first 4 months, followed by 1.5% for the rest of the year.

Happy Wife... Happy Life.


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## HaroldCrump (Jun 10, 2009)

crazyjackcsa said:


> My Wife does insist on having a high amount of cash on hand, roughly a full year of expenses, to that end, we have it sitting in our TFSA's at PC, teaser rate of 2.5% for the first 4 months, followed by 1.5% for the rest of the year.
> 
> Happy Wife... Happy Life.


Ditto here.
We have been gradually building up our cash reserves...not there yet, but slow and steady getting there.
My wife's TFSA is entirely in cash @ PCF.
Though I am pissed at them for the teaser rates bait-and-switch back in 2009, we haven't moved our account yet.
Once the cash reserves are built up, future TFSA contributions will go into a separate trading account for her.


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## Eclectic12 (Oct 20, 2010)

Rysto said:


> I know that I saw some news stories about it recently but this was the best that I can find:
> 
> http://www.theglobeandmail.com/glob...that-tfsa-can-be-such-a-tease/article1443909/
> 
> ...


Here is an article from 2009 saying only one in five had opened a TFSA account:
http://network.nationalpost.com/np/...ed-up-quot-no-brainer-quot-tfsa-accounts.aspx

Here is an update from Dec 2010 saying approximately a third had opened a TFSA account:
http://www.thestar.com/mobile/NEWS/article/899669


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## Eclectic12 (Oct 20, 2010)

the-royal-mail said:


> Hi torontogal, I've heard that comment before, about the gov't not having this in mind (re: huge growth) but I'm not sure about that. Reason I say this is when I setup my TFSA last year, they asked me very early on about investing the money. They made it quite clear that they intended for me to invest this money so that it would grow.
> 
> So I guess I am just puzzled by the concern that you and some others on this forum seem to have about the gov't not intending for growth in these accounts. Keep in mind this was a tax cut from their perspective, to encourage us to keep more money in our pockets.


I am also puzzled. The writeups I read on the Canada Revenue Agency indicated the CRA expected growth as well.

I also suspect that those who are concerned aren't factoring how slowly the public at large learns about and uses these sorts of things.

For example, this Bank of Montreal study says that approximately a third have a TFSA account:
http://www2.bmo.com/news/article/0,1083,contentCode-10604_divId-3_langId-1_navCode-212,00.html

As well, people are confused as to what the investment options are. Never mind people like my dad who sticks to interest/GICs only.

I expect the bottom line is that while there are some spectacular success stories (and some intentional rule breaking), when it is all added up, the government has not lost as much as it would appear.


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