Using global indexes. this was a question on the @karyungtom@moementumfinance podcast. Unfortunately for us..... they couldnt do the math on the spot..... Unfortunately for them...... I have too much time on my hands. First of all. This is not a matter of if but a matter of when. Also, im pretty lazy so I will be using a 7% default for returns past already historical preformance. So far the tfsa has been around since 2009 and has a running total of $109,000 between 09 and 26. not gonna lie, Ai doing some heavy lifting and probable Bull Shpiting but! if you made contrabutions at the start of every year and held a global market equity similar to xeqt then switched it to $xeqt when it was avalible you would have $394,000 not im gonna have to again, make some stuff up. You see, we dont know what the later contribution limit will be for the tfsa. so we will say every 3 years they will increase the limit by $500 ( a slight pattern in the past contrabutions limits) In conclusion.... Starting in 2009 and maxing out all contrabution room and the potential later room i can expect we will be seeing alot more tfsa millionaires in the year 2038..... 29 years after the tfsa inception.
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18 Comments
Nicolle
@moneymeetslegacy · 4dEdited
Thank you for the painful reminder that I committed the cardinal sin of investing: starting too late. 😭😭 But better late than never. I love the TFSA. Thanks for the numbers.
Mike L
@noviceadvisor · 3d
I tried the mathing
Sarah Giver
@staystronggiver · 3d
This is great, thank you for running the math 👍🏽👏🏽 So cool to see growth that's pretty accessible!
Mike L
@noviceadvisor · 3d
People at the beginning took advantage of the TFSA as there weren't penalties for over contributing but people have done it with penny stocks as well
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