About Me

Saturday, July 21, 2012

Future TFSA

I maxed out my TFSA this year so I have no more contribution room. I also withdrew $15,000 this year so it's pretty much depleted and I would like to get it back up and running for next year. 

I created a regular savings account through ING and called it "Future TFSA."

I could have put money into the chequing account but it's at 0.25%, whereas a regular savings account is at 1.35%. ALMOST what the regular TFSA gives in interest currently. So I might as well make a bit of interest! By having a separate account I will know exactly how much I want to transfer over in the new year as well. 

I put in $2000 today. 

1 comment:

  1. Um AWESOME.

    Last year (so maybe they'll do it again this year!) ING gave a BONUS interest rate on the TFSA for the first few months of the new year to encourage people to max out their TFSA earlier than later. I think it was 3% or maybe even 4%. So if you have money socked away to do that it will pay off =)

    I'm nowhere near maxing out my TFSA. It's where I save for vacations so it got raided recently =\