It's 20 days away from 2009, and whether you realize it or not, there are new changes coming in Jan 2009, and I have to start acting now to get my financial plans in order
Tax-Free Savings Account (TFSA)
I have to find $5000 to put into TD Waterhouse TFSA account, ready to go Jan 2, 2009!!
If you want to learn about TFSA, KPMG has a good starting guide
RRSP
I have to start looking into my RRSP that I have avoided since 2005 as I usually find better usage for the supposed-to-contribute money. Now I have near $30,000 contribution room, and it is time to plan and lower my income bracket.
Fortunately, with some sweet talk, TD and TD Waterhouse love me so much that they are willing to waive my $100+ admin fee for the TD Waterhouse Self-Directed RRSP, which means I simply have 2 TDW accounts - one registered, one not. No additional financial institutions to deal with or move money to
Now where do I find $30,000 to put it in..... I think I love TD too much as well
Tax-Loss Selling Equities
Investors do this to offset capital gains in previous years to get tax refunds.
Sorry, I refuse to give in and admin my losses (which is quite a lot...) but I am investing for the long say. Buy and Hope... wait, it's Buy and Hold
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