Is holding money in a savings/TFSA account a terrible idea for

be carful with TFSA if you're planning on withdrawing the money. Theres a limit you can deposit/withdraw based on your age. If you plan on investing tho, this is your best bet if its not long term and you're within your limit

You should save up an emergency fund and stop wasting it on memes like gold

>>1573029
>be carful with TFSA if you're planning on withdrawing the money. Theres a limit you can deposit/withdraw based on your age.

Nope.

No limit whatsoever. That's for RRSP's.

TFSA you can withdraw whenever. But if you withdraw your contribution room is only carried over to next year.

As in, let's say you got $5500 to contribute this year, you deposites $5500 and you withdraw $5k. Your contribution room for 2016 is done but you'll get $5k additional next year

>>1573029
Ive got a TD Canada TFSA Account and there is no limits based off of your age

>>1573029

im with RBC and i think my TFSA limit is 45k
i have another 50k which will just sit in my saving then...

>>1573034
memes like gold? could gold go down in the next 6 months?

>>1573049
are you american or with another canadian bank?

>>1573050
TD canada has TFSA's with no limit?


so...i guess i conclude for 3-12 months keeping it in RBC will likely be the safest and simplest way to store my funds until i reinvest... if theres another canadian bank with up to 100k TFSA maybe i could switch... but is that even worth while?

>>1573091
No dude I'm canadian

Read the rules better. Tfsa has NO LIMITS on withdrawl.

It's like the superior version of the American Roth IRA

>>1573091
TSFA does have a contribution limit
it does NOT have a withdrawal limit

>>1573091
>could gold go down in the next 6 months?
imo gold is very likely to lose at minimum 5% of its value after Hillary wins the election

File: neil-degrasse-tyson-was-not-impressed-with-gravity-and-is-going-ballistic-about-it-on-twitter.jpg (59KB, 1411x1058px) Image search: [Google]

59KB, 1411x1058px

>>1573128
cool
>>1573207
cool, understood

>>1573210
5%? how do you come to this conclusion though?
i personally wonder what the US dollar will do after the election - regardless what the outcome is

>>1573005

Buy Platinum

what are good options for someone who does not have access to gold and silver but wants to stock up on something that won't fall as hard after the elections like fiat money will?

i can actually get my hands on some gold but it will cost me 60%-75% extra to have it shipped and through customs. is it worth it in a small country like iceland?

>>1573049
>>1573050
>>1573091
>>1573128
>>1573207
TFSAs actually do have a contribution limit based on age.

You can only deposit for years you at least were 18 years old. If you were 18 or older in 2009 it doesn't matter because the maximum contribution limit sits at $46,500 as of 2016. If you turned 18 this year your maximum limit right now would be $5,500, if it was 2015 you would have space for $15,500.

Also remember that you only get to re-deposit against withdrawals in the following calendar year. The CRA doesn't give grace on it any more as it's been long enough for everyone to understand how it works.

>>1573005
get a direct investing account with a tfsa

Ive been making a killing on Canadian "medical" pot companies. I legit tripled my money since feb and all these stocks will keep going up until april.

>>1574299

Just dont follow pontif gordons advice because hes pretty dumb lol

Get a Questrade TSFA account and start trading stocks but not fucking gold for fuck's sake.

>>1573049
this is bullshit or US but not Canadian.

If you're 25 for example:
2009 $5,000
2010 $5,000
2011 $5,000
2012 $5,000
2013 $5,500
2014 $5,500
2015 $10,000
2016 $5,500

So the total cumulative is 46 500$ which is definitively NOT infinite!

>>1574992
This

>>1575040
OP here,
I like this strategy