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Borrow money to max out TFSA? (lemmy.world)
submitted 1 year ago by to c/personalfinancecanada@lemmy.ca
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I've just heard of someone doing that and it ended badly, but that was because the person over contributed. I wonder if it would be legal/smart for me to do that? I don't make enough to max out my TFSA and don't take risks investing (only invest in global ETFs and bonds).

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[–] [S] -1 points 1 year ago (1 child)

I invest in VEQT.TO and XBB.TO. I use 65% stocks and 35% bonds. I did make a profit last year but this year's probably not gonna be as good so I'd just be losing on interests. I think it's not even legal to use borrowed money in a TFSA anyway

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