|
I hadn't seen mention of DRIPs yet? I personally think they're a fantastic way to invest in Canadian businesses. http://www.dripprimer.ca/aboutdrips You can put dividend bearing stocks in a synthetic drip at a bank as an in-kind TFSA contribution. In this way you can shelter the dividends from taxation and also compound their yield. Only thing is, you won't get partial shares. So what, that might round out to two shares a year? You can build up those DRIPs to a reasonable amount by buying one share, certificating it or getting a digital transfer to you. This will cost $50 - $75, I think? You can then take that share and sign it up for the official DRIP at the transfer agent. Every quarter or so you'll have the option to buy more of that stock using the optional cash purchase program for free, no commission. Maybe even get a 1-2% discount. I am not a financial advisor. I'm just mentioning things you might want to research. This strategy isn't for everyone. Not every stock has a DRIP, not every DRIP has an OCP.
|
#
¿
Sep 18, 2013 21:48
|
|
|
|
| # ¿ Apr 29, 2024 14:02 |
|
|
slidebite posted:I know we have spoken about it here before, and while people should man up and educate themselves, financial institutions have really dropped the ball on the TFSA. I don't know that it's "dropping the ball" as much as it is the banks not making very much money on setting fools up with TFSAs when they could be raking them with other products.
|
|
#
¿
Nov 7, 2013 22:36
|
|
|
You can check how much room he has on CRA's website. http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/tfsa-celi/cntrbtn-eng.html Or call them. I have never heard of it being pro rated, though.
|
|
#
¿
Nov 8, 2013 18:24
|
|