How to go about securing the best policy for your insurance in Canada.
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How’s my TFSA asset allocation?
– moneysense.ca
Q: My goal is to maximize returns and grow my TFSA over the long term, not necessarily only for retirement, but also as a reserve fund. I have all Canadian ETFs in it to avoid any tax complications as I believe holding anything but Canadian ETFs in a TFSA leads to tax issues.This is my current allocation:
ZDV.TO 15.3%
ZRE.TO 9.8%
XIU.TO 15.3%
XRE.TO 9.8%
XDV.TO 15.1%
VAB.TO 19.2%
VCN.TO 15.4%
Please lend your expertise and advise if I’m on the right path with this allocation or if it requires tweaking. I’m open to taking risk and would label myself a moderate to liberal risk taker.—Harpaul
A: You’ve asked some good questions. Let’s start with asset allocation and your question about whether it’s appropriate. I’m going to give you one of my favourite answers, “it depends.”
First off, I’m leery about 35-year-olds having TFSAs. More often than not, I think they shouldn’t have them. When I diagnose most 35-year-olds’ finances, they tend to suffer from conditions like RRSP room, debt, kids who are going to go to university, a lack of proper insurance coverage, no wills or powers of attorney and so on…
