Personal Wealth Benjamin Felix The TFSA is not a Toy PWL Capital 2016-03-24T10:00:09 March 24, 2016 It may be a flaw in the name. The government-intended use of the registered retirement savings plan is clear, retirement, but the tax free savings account is less commonly viewed as a long-term savings vehicle. I often meet investors who are using their TFSA to trade individual securities; the TFSA is their ‘play’ account. They are likely acting under the influence of their own overconfidence bias, imagining the large tax-free profits that they are going to make when their bet on a stock pays off, and not considering the significant negative consequences of taking unrecoverable losses within the TFSA. An unrecoverable loss occurs when a security loses its value and never recovers, something that can easily happen when trading individual securities.
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