# are you ready with your 2015 TFSA contribution?



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

In just over two weeks, we will again become eligible to add $5500 more in hard-earned savings to our TFSAs. 

1. Will you be ready to transfer the funds on Jan 1? 

2. Have you made your decision yet about what investments you will purchase?

Discuss.


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## wendi1 (Oct 2, 2013)

I usually make a lump sum contribution to my RRSP in Feb, then put my tax refund into the TFSA.

I'll purchase whatever my robot masters (my spreadsheets) tell me to purchase.


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## none (Jan 15, 2013)

^ smrt ^


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## Guban (Jul 5, 2011)

I usually transfer the maximum permitted on Jan 2 when everything is open.


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## Nemo2 (Mar 1, 2012)

Guban said:


> I usually transfer the maximum permitted on Jan 2 when everything is open.


You beat me to it........(although I voted January 1 because it was the only option that reflected our pending action.)


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## gibor365 (Apr 1, 2011)

Everything is ready...I only didn't decide what portion om my and my wife's limits transfer to PT HISA for 3% and what to put into discount brokerage


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## m3s (Apr 3, 2010)

Guban said:


> I usually transfer the maximum permitted on Jan 2 when everything is open.


+ 2


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## Fraser19 (Aug 23, 2013)

I will contribute to my TFSA but probably not $5500. That can be hard to come up with at 25 with RRSP's rent and paying for school (without the use of student loans).
Probably closer to $3600.00


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## 1980z28 (Mar 4, 2010)

m3s said:


> + 2


+1


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## Jon_Snow (May 20, 2009)

11k of tax sheltered goodness ready to go!


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## fraser (May 15, 2010)

Yes.

Plus we have just withdrawn our CIBC TFSA account that have 1 years deposit(from several years ago) in them. We will redeposit those funds, plus make a 2015 contribution, in early January with PHN. CIBC charge $100. to transfer but 0 to cash out so we cashed out last week.


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## My Own Advisor (Sep 24, 2012)

m3s said:


> + 2


+3 on contributing as soon as possible.


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## newfoundlander61 (Feb 6, 2011)

I make weekly purchases so that by the end of the year I have maxed out the amount allowed.


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## Video_Frank (Aug 2, 2013)

wendi1 said:


> I'll purchase whatever my robot masters (my spreadsheets) tell me to purchase.


This. $11k ready to go.


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## PrairieGal (Apr 2, 2011)

I will be making monthly contributions until all my TFSA room is caught up. I cashed in some money this year that was making a pittance for interest to help pay off my heloc. As for where to put it, that is a good question. Still trying to decide.


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## OurBigFatWallet (Jan 20, 2014)

Like in past years, I will have both contributions ready to go on Jan 1


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## supperfly17 (Apr 18, 2012)

Looks like the CMF is full of the 1% members. Good job everyone.


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## gibor365 (Apr 1, 2011)

If you have your TFSA in discount brokerage and don't intend to buy stocks right away, you may be better not to move $$$ right away.... The best HISA analog you can have in brokerage gives you 1.25%, many other HISAs/GICs give you much higher rate... so you may transfer money same day when you intend to buy stock


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## gibor365 (Apr 1, 2011)

Mine too  and it takes 2 days to transfer, but I always have some cash on Checking account/HISA in bank where my discount brokerage is....so I can transfer and same second buy stock... Considering that I have 1 years/15 months stepper GIC at 2.45%, it's 1.2% difference and on 11K = $132


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## OnlyMyOpinion (Sep 1, 2013)

It is ready, and will go into TSFA in early Jan (x4 as we still 'bug' the 2 kids to make sure they've contributed as well). Not too fussed that it be the first possible day, only that it gets in. Have moved from chq acc to trading acc, then can transfer to the TSFA on-line in Jan.
Long term savings, so currently hold some 3-6yr strips, XRE and FIE. Will review allocation before pulling the trigger. Have sometimes parked in TDB8150 if too busy or suffering from the procrastination flu :frown:


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## RBull (Jan 20, 2013)

Yes and yes


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## scorpion_ca (Nov 3, 2014)

yes...will buy more ZRE


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## RBull (Jan 20, 2013)

^Now is a good time- maybe it will stay low for a few more weeks.


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## scorpion_ca (Nov 3, 2014)

happy to see ZRE is dropping significantly...hope it will drop more


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## Sprucegum (Dec 12, 2012)

My adviser wants to wait until March when I have a GIC maturing but if the market look like it is turning bullish before that I will find the cash to get in sooner.


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## dogleg (Feb 5, 2010)

Scorpion: With the BOCan folks saying our housing mkt is overvalued I'm wondering about more ZRE. Mind if I ask why you want more?


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## gibor365 (Apr 1, 2011)

Sprucegum said:


> My adviser wants to wait until March when I have a GIC maturing but if the market look like it is turning bullish before that I will find the cash to get in sooner.


How you gonna determine when market "turning bullish"?! I'm never can understand such statements....do you look at % gains, RSI, SMA or just intuition?!


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## diharv (Apr 19, 2011)

Does anyone else think that with oil likely to bottom out out here before too long that will be a good time to buy ?Will have $11000.00 ready , likely to go into TD e series funds which make up our TFSAs.


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## scorpion_ca (Nov 3, 2014)

@ dogleg - I invest $$ that I don't need it for 15-20 years. If the market goes down, I am okay with that. ZRE is way better than GIC/HISA. I don't own a house and REIT would be around 13% of my net worth once I buy more ZRE in Jan, 2015.



dogleg said:


> Scorpion: With the BOCan folks saying our housing mkt is overvalued I'm wondering about more ZRE. Mind if I ask why you want more?


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## OnlyMyOpinion (Sep 1, 2013)

dogleg said:


> Scorpion: With the BOCan folks saying our housing mkt is overvalued I'm wondering about more ZRE. Mind if I ask why you want more?
> @ dogleg - I invest $$ that I don't need it for 15-20 years. If the market goes down, I am okay with that. ZRE is way better than GIC/HISA. I don't own a house and REIT would be around 13% of my net worth once I buy more ZRE in Jan, 2015.


BOC was referring to overheated 'home-owner' housing. ZRE and most (all?) REITs are in commercial real estate - rental housing, malls, offices, etc. Not sure how BOC comment ties to REITs? Concern earlier this year was with an increase in int rates negatively impacting REIT borrowing costs. Now some discussion around lower oil prices dampening inflation and keeping int rates flat (or drop?) even longer.


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## dogleg (Feb 5, 2010)

Interesting points you make. Thanks


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## banjopete (Feb 4, 2014)

$10k this year right? ... I know, I know. I'm in the not until April-ish camp. One year removed from killing my student loan debt, and I'm just tapping at the door of a maxed out TFSA so this year will be post income tax refund. Not quite as impressive as you lot but effective none the less.


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## BoringInvestor (Sep 12, 2013)

banjopete said:


> $10k this year right? ... I know, I know. I'm in the not until April-ish camp. One year removed from killing my student loan debt, and I'm just tapping at the door of a maxed out TFSA so this year will be post income tax refund. Not quite as impressive as you lot but effective none the less.


Are you asking if the TFSA new contribution room is going to 10k in 2015?
If so - no. It will be $5,500.


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

Indeed, the limit for 2015 will be $5500.

Very interesting poll results so far. Over 81% of CMFers will be ready with their full amount by Jan 1. That's amazing and contrasts sharply with the general CDN population whose usage of TFSA is much less than in here.

What a great group!


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## Cal (Jun 17, 2009)

^ Same.


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## Guban (Jul 5, 2011)

the-royal-mail said:


> Indeed, the limit for 2015 will be $5500.
> 
> Very interesting poll results so far. Over 81% of CMFers will be ready with their full amount by Jan 1. That's amazing and contrasts sharply with the general CDN population whose usage of TFSA is much less than in here.
> 
> What a great group!


I'm sure that we are a good group, but I note that you didn't give us the option of preparing to make a contribution less than the max for the year!


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## RBull (Jan 20, 2013)

^great point.


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## Tawcan (Aug 3, 2012)

Have both mine and my wife's amount ready to deposit. Hoping the stock markets will be on sale for a few more weeks.


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## Synergy (Mar 18, 2013)

the-royal-mail said:


> Very interesting poll results so far. Over 81% of CMFers will be ready with their full amount by Jan 1


81% is indeed interesting, but so far there's only 56 voters. I think we may need a little larger sample size before jumping to the conclusion that over 80% of members intend to max out their TFSA's on Jan 1st.

How many members are there on this forum? That way you can get a better idea of the number of voters you'd need to make the results representative.


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## Synergy (Mar 18, 2013)

mrPPincer said:


> poll options were; I will max TFSA or I do not use TFSA, hardly scientific


How is that not "scientific"? The OP asked a specific question and was looking for a specific answer. Just because you don't like the questions doesn't make it any more or less scientific. A lot of useless questions are researched on a daily basis - to each their own.


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## banjopete (Feb 4, 2014)

BoringInvestor said:


> Are you asking if the TFSA new contribution room is going to 10k in 2015?
> If so - no. It will be $5,500.


My ... mean sarcasm.


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## lonewolf (Jun 12, 2012)

Have not decided what to do yet. If it looks like a high confidence high reward trade might set up for 2015 then will hold off & put it into brokerage account closer to the set up. If trade does not look like it will set up then will put it in 5 year GIC. If I put the 5500 into a high interest savings account then if it looks like trade might set up then the transfer fee would not make it practical to put in HISA


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## Synergy (Mar 18, 2013)

mrPPincer said:


> because the way the questions were tailored, they happen to leave out a whole slice of the total, surely you can see that?


Sure, I understand your points. The questions could have been worded a little better. I can only assume that the OP was only interested in those individuals that will max out their TFSA's for the year and those that don't use TFSA's altogether, but I do agree that there's a few months missing (Jan 2nd-Mar 31st). I don't know if that was intentional or whether it was an oversight.


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## JordoR (Aug 20, 2013)

Yes I have the full amount ready to go... I was hoping the contribution limit would be increased for 2015 as well...


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## NorthKC (Apr 1, 2013)

I will be making monthly contribution throughout the year to catch up on some room that I have.


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## DividendLuvr (Mar 5, 2014)

Fully ready and waiting to deploy.


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## Koogie (Dec 15, 2014)

My wife holds the ready cash, so if she gives me the 5500$ on Jan. 02 (she has promised to !) I'm good to go.:biggrin:

We decided a while ago to treat the TFSAs as a mini-portfolio in its' own right. Mine is at PT (earning 3%) and hers is in CDN common stock. Obviously hers has well outpaced mine. However, mine can be liquified quickly if needs be (for instance, we may have moving expenses next year) so for us it is a reasonable current strategy. Once they become of sufficient size one day a portion of mine will no doubt migrate into common stock as well (say, once it gets over 50K).


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## Sherlock (Apr 18, 2010)

I have $5500 but I haven't yet decided what I'll invest in. I am moving toward selling some of my stocks and buying broad based ETFs.


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## My Own Advisor (Sep 24, 2012)

My wife told me she wants indexed funds. OK. So, I have my orders. I'm looking for O&G stocks.


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## Sasquatch (Jan 28, 2012)

I have $ 11000.- ready to deposit now but will have to wait another couple of weeks.
Our TFSAs are in a simple HISA TFSA with CWF and have been since we started.
I could make more profit by investing in MFs or stocks but I'm chicken and rather make a little on a safe investment ;-)


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## LBCfan (Jan 13, 2011)

I'll fully fund mine in 2015. When? When I get around to it.


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## rickyt88 (Dec 24, 2014)

*ready to max it out*

I'm ready to max mine out. Is the total going to be $36,500 next year?


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## 1980z28 (Mar 4, 2010)

I believe you are correct if all criteria is in place,,,sounds like you will have some fun with your deposit into the free growth,good luck,spread it around,unless it is spare cash,so the lottery starts


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## Eclectic12 (Oct 20, 2010)

rickyt88 said:


> I'm ready to max mine out. Is the total going to be $36,500 next year?


Assuming one met all the criteria (i.e. 18+ in 2009, resident for all the years etc.) and has never contributed to a TFSA ... then yes.

You may already be aware of this but as I've seen some confusion in other posts, keep in mind that the "total" will vary by person as making contributions will reduce it. For example, I've used most of mine so I current have about $200 available and then Jan 1st, I'll have the $200 plus the 2015 $5.5K for a total of $5.7K.


Cheers


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## Islenska (May 4, 2011)

Will contribute the $11k in 2015

Curious what people plan to do with this cash down the road?

Retirement saving/spending, big ticket item in the future, should grow to a tidy sum...............for your estate?


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## Jorob199r (Sep 4, 2014)

Islenska said:


> Will contribute the $11k in 2015
> 
> Curious what people plan to do with this cash down the road?
> 
> Retirement saving/spending, big ticket item in the future, should grow to a tidy sum...............for your estate?


Islenka, I see you live in The Pas. My spouse and I lived in Thompson for several years, moving to Alberta in 2013.

My answer as to what I plan to do with the money is simply the notion of freedom. Whether that be taking an extra month of work off here and there to travel or retiring early. My spouse and I live frugal lives, spending next to nothing every month while making a few hundred thousand k. I invest in order to obtain the freedom to live whatever life I choose, sooner rather than later.


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## Michel (Mar 7, 2014)

I have almost all my savings in registered accounts already (and my TFSA maxed for 2014), so I won't have much to contribute immediately on Jan 1st. However maxing out the TFSA again will be priority #1 and should be achieved by the end of February if all goes well.


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## Islenska (May 4, 2011)

Small world Jorob,have been to Thompson lots, my wife is from LacBrochet so we fly out.
Worked this summer a bit at the new Snow Lake pharmacy, enjoy the drive up there (Reed Lake. Simonhouse, Iskwasum, Pisew Falls, you know the route ,,,

Good luck on the TFSAs...................


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## My Own Advisor (Sep 24, 2012)

Islenska said:


> Curious what people plan to do with this cash down the road?


The plan is to eventually withdraw the dividends and distributions every year for travel expenses. I hope to have some CDN $$ and USD $$ money to withdraw from account. 

We will use the capital inside TFSA for later in life, old age, assisted living, etc.

Plans change, we'll see!


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## cougar (Oct 15, 2014)

Yes we are ready to go with a full contribution for both of us.


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## Canadian (Sep 19, 2013)

It will be another year or two until I have my TFSA maxed. Contribute to it with every pay.


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