High risk in TFSA

19857 Views 28 Replies 19 Participants Last post by jason26, Dec 2, 2009

j8chan

Discussion Starter · Sep 24, 2009

Just curious to know if anyone out there is playing their TFSA account as a gambling account with high risk stocks/options.

I have been jumping around in the Horizons BetaPro Funds and am up 20% in about 3 months. How much is yours currently worth?

Also, I didn't create my TFSA until mid year, like June 2009. Do I have to wait til June 2010 before I can put another 5k in?

Thanks

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Rickson9

· #5 · Sep 25, 2009 (Edited)

j8chan said:
Just curious to know if anyone out there is playing their TFSA account as a gambling account with high risk stocks/options.

My wife and I hold stock in our TFSA but it is low risk.

j8chan said:
I have been jumping around in the Horizons BetaPro Funds and am up 20% in about 3 months. How much is yours currently worth?

We are up over 40% YTD so over $14K in our TFSAs.

We also don't like to sell so we are not taking full advantage of the tax-free benefits of the TFSA. We recognize that the return is nice (and likely unsustainable), but also understand that it's only $14K.

j8chan said:
Also, I didn't create my TFSA until mid year, like June 2009. Do I have to wait til June 2010 before I can put another 5k in?

I don't think so.

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Rickson9

· #10 · Sep 25, 2009

Although I understand that the TFSA's advantage is being a tax-free account, it still shocks me that some people use it to trade securities (ie turnover times less than 1 year). Are the trading profits from this really that compelling? Come on now...

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