Tax Free Savings Account -Go open one!!

[Nano]

Originally Posted by kien

How does anybody on this board have money to put into a savings account?!?! What am I doin wrong?! Do I need to buy another reactor?? Run more GFo? Carbon? LED Lights? Help!

LEDs will help for sure. Another thing that always works or at least it is for me is moving home with the parents for a few months to save for a down payment. Lol! Mileage may vary
Proud to say that in the last 5 months we have saved 23k for a down payment we may just build a house instead at this rate.

[Nizzmo]

Originally Posted by Reef_Geek

I'm not sure about that... http://www.cra-arc.gc.ca/nwsrm/rlss/...80123-eng.html

you know the saying... two certainties... death and taxes

I said you wouldn't go to jail. They can fine you all they want but can't enforce it. Not many people know that

[Reef_Geek]

Originally Posted by Nizzmo

I said you wouldn't go to jail. They can fine you all they want but can't enforce it. Not many people know that

from CRA release: http://www.cra-arc.gc.ca/nwsrm/rlss/...80123-eng.html
"Courts imposed fines totalling $13.4 million and sentenced 26 offenders to more than 37 years in prison. Sentences for those who were ordered to serve jail time for tax-related offences ranged from 1 month to 3 years."

[Reef Pilot]

Originally Posted by Reef_Geek

Are you braving equities? Do you think fixed income focused instruments are going to crash a little? What about this outlook with the US Economic Fiscal Cliff?

Day trading is a lot safer..., buy and hold anything doesn't work anymore. Although lately, some days it feels like squeezing blood out of a stone. Of course, getting distracted on canreef doesn't help, when I should be watching the vix and futures more closely...

But myself, I hope they go over the cliff. I like volatile markets. Kicking the can down the road every 3 months is good, too, whether it is EU or the US.

[Cameron]

I prefer to hold stocks....fixed income and mutual funds are a waste of time. Less than 3% of fund managers outperform their benchmarks after 5 years. If you find a good fund hold it for a couple years then change as it will become to big and start to under-perform. Equities long term pay off, it's always better to be an owner than a loaner. My TFSA is sitting at $39,245 as of this morning(without my 5500 contribution this year). I also implement option strategies in my TFSA.

[Reef_Geek]

Originally Posted by Cameron

I prefer to hold stocks....fixed income and mutual funds are a waste of time. Less than 3% of fund managers outperform their benchmarks after 5 years. If you find a good fund hold it for a couple years then change as it will become to big and start to under-perform. Equities long term pay off, it's always better to be an owner than a loaner. My TFSA is sitting at $39,245 as of this morning(without my 5500 contribution this year). I also implement option strategies in my TFSA.

Wow, that's fantastic! I'm about 14% (not annualized) in the plus, but definitely not doubling like you. That's what I get for being a lazy investor, having a day job and relying on mutual funds I guess. But the day job ain't that bad.

So do you day trade then?

Which brokerage do you like best for their fee structure?

I'm thinking I can afford a portion of my portfolio in high risk tolerance.

[Cameron]

Originally Posted by Reef_Geek

Wow, that's fantastic! I'm about 14% (not annualized) in the plus, but definitely not doubling like you. That's what I get for being a lazy investor, having a day job and relying on mutual funds I guess. But the day job ain't that bad.

So do you day trade then?

Which brokerage do you like best for their fee structure?

I'm thinking I can afford a portion of my portfolio in high risk tolerance.

I don't day trade I trade on momentum and have a couple screens setup for my selections.