Author Topic: Investment goal to max my registered accounts within 1 year.  (Read 1633 times)

K-ice

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I have some serious catch up to do.

Currently I have about 50K unused room in my registered accounts.

RRSP and TFSA. Similar to 401 and IRA in the US.

I plan to reach this goal with a combination of aggressive savings and transferring some non registered investments. ~10K

I think it is pointless to have unregistered investments when I have tax free room.

I also plan to invest in the most tax efficient way possible.

Does anyone else want to play catch-up on these accounts with me?

My badass goal is to catch up in 6 months. By then there will be more room....

Cookie78

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Re: Investment goal to max my registered accounts within 1 year.
« Reply #1 on: August 14, 2015, 03:29:43 PM »
I'm in!

I've been pouring money in my registered accounts for the last 8 months, but I still have about the same contribution room left as you, give or take. Off the top of my head I don't even remember, but it's close.

No non-registered accounts.

I was hoping I could max them out before the end of 2016. But I think I can do better. August 2016 perhaps?
« Last Edit: August 28, 2015, 02:42:17 PM by Cookie78 »

Heckler

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Re: Investment goal to max my registered accounts within 1 year.
« Reply #2 on: August 14, 2015, 03:50:40 PM »
I'm definitely trying, but with $258,000 in accumulated room across his and hers, we expect to never need a taxable account until age 71.  Current plan is to max his TFSA in 5, his RRSP in 7, and her RRSP in 10.   Her TFSA will get maxed when RRIF minimum withdrawals kick in.

PharmaStache

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Re: Investment goal to max my registered accounts within 1 year.
« Reply #3 on: August 16, 2015, 09:57:13 AM »
I'm also doing this.

I haven't made any predictions yet, as I don't know what will happen to the tfsa limit this fall.

fb132

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Re: Investment goal to max my registered accounts within 1 year.
« Reply #4 on: August 16, 2015, 10:01:50 AM »
That is what I am currently doing, the problem is since I make low income, it will take me a few years to max both. I do know that maxing out the TFSA is doable for me, the RRSP is tougher because I have alot of room.

K-ice

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Re: Investment goal to max my registered accounts within 1 year.
« Reply #5 on: August 28, 2015, 02:04:16 PM »
OK, a  quick update.

I invested a chunk I had been building since May. (Please donít consider this lump sum cheating, part of my psychological battle is to finally get on an investment plan and do something smart with my cash.)
So I bought:
VAB into the RRSP
VXC into the TFSA

Both were unfortunately over a week ago, so my bad on market timing :(

Here is how my accounts went up:
Month   RRSP    TFSA
July       51%       24%
August   64%      46%

I would love to hit 100% by year end, we will see.

I am not sure if % is the best way to look at things. But it is a bit more anonymous. Most of us have the same TFSA total room (41K unless you are young) but the RRSP room can be extremely variable. 

My RRSP total room is quite small for my age for multiple reasons.