TFSA - Investing/Savings
What do you with your TFSA? Currently mine are just in ING doing a small 1.4% interest.
Can you invest TFSA into mutual funds and such? I'm a beginner in all this stock stuff (lower then beginner probably). I have it maxed out right now.
Also how does your contribution room work if you can invest it.
say max room is 50K. You put in 50K. So your at the ceiling. Now your investments go up 10K then drop 5k then up 15K then drop 10K. Right now you are at 55K. You take it all out.
In the next year, is your contribution room now 70K (+yearly contribution room) or is it 55K (+yearly contribution room)?
Can you invest TFSA into mutual funds and such? I'm a beginner in all this stock stuff (lower then beginner probably). I have it maxed out right now.
Also how does your contribution room work if you can invest it.
say max room is 50K. You put in 50K. So your at the ceiling. Now your investments go up 10K then drop 5k then up 15K then drop 10K. Right now you are at 55K. You take it all out.
In the next year, is your contribution room now 70K (+yearly contribution room) or is it 55K (+yearly contribution room)?