I have an extra $30K to put to work 👀 Here’s what I’m doing: I’m immediately transferring $10K to my PC Money Account because it earns 2.7% interest (not promotional!) I’m not investing this chunk since it’s for taxes, so I want it somewhere safe but still earning something. Next, I’m maxing out my TFSA by adding $7K. I keep my TFSA a bit more risk averse than my RRSP because I’ll probably use this money earlier in life so I’d rather leave the “riskier, individual stocks” to my RRSP (time reduces risk. The longer you hold, the more chances your stock has to grow and smooth out volatility) Speaking of that… I’m putting another $10K into my RRSP to help reduce my taxes this year. That officially brings me to $98K invested 🎉 I’m so close to hitting the big $100K (again)! Now… I’m on the hunt for some good growth stocks 👀 What’s everyone watching right now?
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127 Comments
J
@degenerate · 12mo
I actually have a different logic, my higher risk stocks I put in my TFSA as there's a better chance my stop limits will hit and hence be more liquid. The "boring" buy and hold forever stocks are in my RRSP.
Mike L
@noviceadvisor · 12mo
I take donations. It'll go to a good cause 😆 🤣
Kris
@kris.okallgood · 12mo
I plan to you my RRSP first in retirement and then my TFSA. This way investments in my TFSA will have longer to grow tax free.
Couch Potato Investor
@rushstpierre · 12mo
Buy gold ✨️
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