Home / Investment / Building a TFSA doesn’t have to be complicated + MORE Aug 21st

Building a TFSA doesn’t have to be complicated + MORE Aug 21st

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My three kids chose different educational paths. How do I withdraw RESP funds in a way that’s fair to them and avoids unnecessary taxes? + MORE Sep 1st

Q. I have a registered education savings plan (RESP) for my three children, the youngest of whom is starting university this fall. We have made some withdrawals for the older two kids but the plan is still well-funded. Our middle child has decided to pursue a co-op university program, which is .... More »

Is bitcoin a good investment? A guide for Canadian investors + MORE Jul 28th

The dramatic rise and spectacular fall of bitcoin prices over the past few months grabbed front-page headlines across the world and touched off a social-media frenzy. Understandably, the crash rattled the crypto sphere. However, dyed-in-the-wool bitcoin bulls are quick to point out the volatility is.... More »

Should you hold gold in a RRIF? Aug 7th

Ask MoneySense I have a RRIF (registered retirement income fund) and I am looking to shift it to gold. I am 65 years old. Is this safe and does this make sense? —Audrey Investing in gold for retirement in Canada Gold prices have surged recently, rising 26% over the past year. Silver has .... More »

Oil prices rise above $100, North American stock market holds steady as U.S.-Iran tensions continue - CBC + MORE Apr 13th

Oil prices rise above $100, North American stock market holds steady as U.S.-Iran tensions continue  CBCOil prices jump on US plans to blockade Iranian ports in Strait of Hormuz  CNNPrice at the pump in Toronto could soon eclipse $2 a litre amid U.S threat to blockade Strait of H.... More »
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Cenovus selling Palliser assets in Alberta to Torxen for $1.3B + MORE Oct 19th

Cenovus Energy Inc. says it has agreed to sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger for $1.3 billion..... More »
Vaughan’s CannTrust is set to go public, prompting concerns about the laws of listing cannabis companies with exposure to the U.S., where marijuana is still illegal

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U.S. companies’ greater adherence to Generally Accepted Accounting Principles on their bottom lines may be a boon for stock prices

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Building a TFSA doesn’t have to be complicated

Rick
AGE: 31
PLACE: Toronto
TFSA TOTAL: $23,000
STRATEGY: A couch potato portfolio (minus the fixed income allocation)

Me and my TFSA
Rick is a 31-year-old police officer in Toronto. He has spent the last two years getting his financial house in order by paying off $50,000 in debt (mostly student debt and a car loan). “I’m just left with a mortgage payment now,” says Rick. “So I have some money to contribute to a TFSA. I’m up to $23,000 which is great.”
In fact, Rick only contributed to his TFSA for the first time 18 months ago. “I have a pension at work so RRSPs don’t make sense for me,” says Rick. And for now, he’s making contributions ad hoc throughout the year whenever he has the money. “My wife and I just had a baby so that means RESP contributions will be starting soon,” says Rick, although his TFSA will still be a priority.
More of  Me and my TFSA »
Rick’s TFSA portfolio is aggressive with 100% of his money in equity index funds from TD. His allocation is fixed at 40% U…

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Optimism tempered by housing concerns and strengthened loonie

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