Checking in on TSFAs

The past few months, I’ve been trying hard to get back into managing my finances better, especially on the investing front. Investing has been a weakness of mine, an area that I ignored for a looooong time, despite the fact that my late father basically did investing for a living*.

I’m confident that I’m getting a better sense of the “couch potato strategy“. I had heard the term a lot when I first started reading PF blogs, but never really made an effort to learn about it until the past few months.

To be honest, I am still stunned by how amazingly simple it is. With the sudden availability of roboadvisors, even dummies – like me – have no excuse not to invest.

So currently, I am in the process of selling off the last of my mutual funds and rebalancing everything. It’ll likely take a few more months before I feel good about having everything lined up.

For now, I’m reassessing how much TSFA contribution room I have left. When the Conservative government initially started TSFAs in 2009, I had no problems maxing out each year. This year, for 2017, Canadians will have a total of $52,000 contribution room. That’s a whackload of money that can be invested tax-free and is definitely a privilege for the privileged.


The past few years, with my lifestyle inflation – obvious by my many international adventures – have made it a bit harder for me to max them out. I currently only have contributed $41,050**.

Of course, I’m not looking for pity. Having the ability to purchase plane tickets and try new foods in far away lands makes me very, very happy. It’s one of the few joys in life that have to give up when my financial situation won’t be so stable. But for now, even if I’m not maxing out my TSFAs, I’m happy to spend some money for some far-off fun.

Also, as there has been a lot of money moving around – paying off my credit cards, resettling debt with my travel buddies, liquidating MFs – I’ve decided to hold off on calculating net worth for December. I don’t normally skip any entries, but if it happens here or there, I’m okay with it. I’ll recalculate in January.

Do you contribute to TSFAs? How are your finances in this new year?

*I am still the only person in my family who has never worked in finance.

**I received free $50 from opening a WealthSimple account back in 2016. I like to keep numbers round so it’s easier to track.


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