Monday, January 2, 2012

New Year, another $5k in TFSA

A brand new year means another $5000 you can put into your TFSA.  I just deposited another $5k into my existing Canadian Tire TFSA.  Last year I put my $5k in a TFSA trading account through questrade and lets just say that I didn't do as well as I had hoped.  I think I will continue to use what I have from my 2010 TFSA contribution for stocks and this years $5k in a savings account.  Plus with a marriage looming later this year, I want money to be liquid because let me tell ya, weddings are bloody expensive!

Go here if you're curious about interest rates you can get on your TFSA savings account.  If you are not using a TFSA, you should!  You don't get taxed on your gains and have absolutely nothing to loose as you can take the money out any time during the year.

I still need to figure out what I am doing with my RRSPs.