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What's your TFSA worth? - Beyond.ca - Car Forums

View Poll Results: What's your TFSA worth?

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  • < 100K

    59 60.82%
  • 100 to 150K

    19 19.59%
  • 150 to 200K

    4 4.12%
  • More than 200K

    15 15.46%
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Thread: What's your TFSA worth?

  1. #1
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    Default What's your TFSA worth?

    While there's no objective measure of investment skill other than LT return % I find TFSA is a great indicator given everyone starts with the same contribution room. There's no reason not to max out your contribution assuming you're a serious investor. Feel free to share your stories of wins/losses.

    EDIT: Assuming your were perfectly disciplined and contributed on the first day of each year and invested fully into a TSX index fund that's averaged 6 to 7% before dividends your balance would be around $120K in total returns with dividends included & reinvested as of today hence the poll answer categories.
    Last edited by Manhattan; 10-21-2021 at 09:00 AM.

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    Opened my Investment TSFA account last year, have contributed around 40k so far. In one year of opening the account my TFSA is now worth a little over $60k.

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    If you have enough money to max out your TFSA and your RRSP, then I agree there's no reason not to max out both. If you need to choose, then I don't think TFSA is the clear winner for all people.

    I spent too many years unemployed, I sure as hell haven't maxed either of mine out. Actually still don't.
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    $4900 lol. Planning to max contributions by end of next year.

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    I pull money out of my TFSA all the time so it fluctuates wildly.
    Originally posted by Thales of Miletus

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    fact.
    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    My TFSA is treated as a "fun account" and I suck at investing. Sitting around 30k. Have never maxed out contributions on tfsa or rrsp

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    Around $50K. Only really use it as an emergency fund. I don't save anything for retirement anymore.

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    I was wondering, so I looked it up on CRA My Account. I have nearly $100k in unused room between my TFSA and RRSP. Lol.

    Balance in TFSA is enough to buy my wifes next car with it, if I so choose. So that's nice.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Quote Originally Posted by suntan View Post
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    I don't save anything for retirement anymore.

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    Unless I contribute like $50k/yr, I cannot make contributions that make any material difference to the future value of my retirement fund.

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    The only reason why I have real money in my TSFA is because of gamestop

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    I need this thread to get a few pages deep before I post, don't want to underflex like a fucking idiot.
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
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    My RRSP/TFSA contribution room could probably buy a condo. My actual savings could not.
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    Came back to ogle 2Legit2Quit wife's buns...
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    They're certainly big, but I don't know if they are the BEST I've tasted.

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    Started this thread to get an idea of investment aptitude but its turning more into contribution/retirement/lifestyle choices. Interesting to hear anyway. Last I checked the average TFSA balance in Canada is only around 20 to 30K. For people who fully take advantage its a wildly beneficial account. In a decade or two there will be a lot of people with completely tax free million dollar accounts.

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    Filling up the TFSA is a good target. Totally agree.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    0. Dual American citizen means I have to follow their tax rules too, and the short answer is they don’t officially recognize a tfsa as tax free. So in theory if I had one, I would have to track capital gains/losses/dividends/etc to report to them and potentially pay taxes on which defeats the purpose. So instead I just invest non retirement savings in a normal cash non-registered trading account.

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    Quote Originally Posted by Manhattan View Post
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    Started this thread to get an idea of investment aptitude but its turning more into contribution/retirement/lifestyle choices. Interesting to hear anyway. Last I checked the average TFSA balance in Canada is only around 20 to 30K. For people who fully take advantage its a wildly beneficial account. In a decade or two there will be a lot of people with completely tax free million dollar accounts.
    You can make a lot of idiotic investment mistakes when you're young and still get away with it.

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    Quote Originally Posted by Asian_defender View Post
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    The only reason why I have real money in my TSFA is because of gamestop
    hello fellow ape

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    $1 bob.

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    0$ you can get better return putting the money in a margin account and paying the tax. Plus you can't use short positions in TFSA so no selling Cash Secured Puts to run the wheel.
    Its more complicated than TFSA, you need to consider rates and ratios plus interest paid on the margin.
    Running the Wheel strategy on SPY has been pretty profitable for me. Of course, you taking a higher risk investing with other peoples money so be smart about it.

    TFSA Margin
    Margin Rate 1 2.5
    Return 10% 10%
    Capital Investment $10,000 $10,000
    YoY $1000 $2500
    Margin Loan Costs (2%) 0 $300
    Taxes (30%) 0 $750
    Total Return $1000 $1450
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    Magical internet money for everyone!

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