TFSA

[Duncan]

The government increased the yearly max for tax free savings accounts by $500. You can invest up to $5500/yr now

[nature boy]

sweet. except i don't we ever put 5k into that account.
actually, i think we just have 5k in there lol.

[Duncan]

i don't max it either, but i should.. i have enough sitting in my normal savings acct to do so... too lazy

[nature boy]

yeah, we have a bunch in our normal savings account too, which we can move around on the website. but i think the tax free that winnie got is at a different bank, so to put money in there or take it out we have to go there in person or something.

and that sounds like a lot of work.

[jeSteR]

You have up to three years I think to backfill and max out. Don't be lazy Dunc. Do it

[nature boy]

that sounds like a lot of money that i'd rather spend.

[jeSteR]

It's your money. How you use it is up to you at the end of the day.

[nature boy]

more like up to the wife lol.

[joel]

[nature boy]

that doesn't seem right to me.
but maybe each bank is different?

[jeSteR]

I don't know.. I thought if followed the same rules as RRSP's and RESP's. I max out all of them every year so I'm not too sure.

[Duncan]

it's diff rules than rrsp and resp. it's carried over indefinitely.

and i though rrsp room is carried over indefinitely as well?

[se7entse7en]

TFSA - Indefinitely:

Item 4 -

http://www.google.ca/url?sa=t&rct=j&q=& ... 6WLB6xxdQg

RRSP - Sounds like 7 years:

Item 13

http://www.cra-arc.gc.ca/E/pub/tp/it124r6/it124r6-e.txt

[nature boy]

man alive i'm glad my elcic pension kicks ass.
i hope the elcic survives until i retire lol.