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Let's speak about building a million dollar TFSA (Tax-Free Savings Account) in Canada! You may be wondering what the TFSA is? How the TFSA works? What the contribution limitations are? I'll share my specific strategies (with numbers) and how I prepare to invest within this account, consisting of the very best stocks to purchase to hit this objective!
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I’m so excited to be back! Thanks everyone for bearing with me on my little break off.. I hope you’ve all been doing well! 😀
Very excited to see you back!!! Definitely deserved a break, especially with all that’s going on but it’s great to see you and your dad on YouTube as always
I really liked this one. Glad your break is nto as long as I expected.
Can you link the calculator please?
@Brandon Beavis Investing Hey Brandon! I feel so silly to ask but would you be able to do a video on how to use this calculator? Like give some stock examples so we know what to put in for the interest rate and compounding time etc?
Great content Brandon!! The editing of the video looks very good!! Thank you so much!!
In 2015 I joined a cibc tfsa at $13.62 a share , after reaching $16.05 a share today it’s down to $13.92 almost $12k. down ! Thanks for the info.
damn you weren’t joking when you said you wanted to put out better content, you’ve certainly earned my like! hyped for this because i started investing in my tfsa when i was 18 so the numbers are looking good 🙂
usually the reason for the dividends increases is the share price appreciation. The dividends get too low and buyers of the stock go away…. so the dividends go back up to reclaim the buyers. Buy banks when dividends are high and sell when they are low…. if you want to trade per say
Hey Brandon! I feel so silly to ask but would you be able to do a video on how to use this calculator? Like give some examples so we know what to put in for the interest rate and compounding time etc? I never what you input in these sections. Thanks!
Bruh it’s simple
if you re watch the video, he explains that you put it what works to your situation. the compounding interest you put in is a conservative one based on what you invest in, so stick to around what he did of 5-7% and the amounts you put in should be based on what you can max invest or what you think at this point you will be able to put away as contributions. no question is to silly, all questions are good so we can all learn and support one another. that’s what this community is for and what Brandon and his crew help us with!
Really high quality video buddy, could tell the break off refreshed ya
Well explained Brandon… welcome back. Nice to watch another video. Dividends are awesome. Thanks again
Welcome Back! EXCELLENT VIDEO!!! All your videos have always been a valuable resource! Video request: A video of growth/value stocks for both Canada & US markets for companies that focus on investing back into company, instead of paying dividends? Like BRK.A, BRK.B. Reasoning would be if retiring early with an excellent work pension, RRSP/Spousal RRSP, non registered investments, etc… in addition to an always maxed out TFSA with all dividend stocks, that already includes the ones you mentioned here btw 🙂 Reasoning is with income splitting, I would like to control selling stocks when I choose and pay the capital gains, instead of paying tax yearly on the dividends & further increasing yearly income. Am I overthinking it because tax on dividends is even lower than capital gains? We have not retired yet, but planning….Keep up the excellent work, and take time off as you need it, for yourself & your lovely family or before you realize your newborn will be 20 years old! Memories and family are what is priceless. Kindest regards!
Great video Brandon! I have been DCA into CNR, TD and BAM for years now! Great picks 😀
Great information, and the video is very well done. However, what’s with the TSX securities? I mean, TD is a decent dividend stock I guess.. but why so fixated on Canadian securities? Because of foreign exchange? Stocks like TGT, JPM, COST far outweigh any Canadian dividend stock when looking at total return/dividend payout ratio overall.
Great video, we did the same TFSA calcs😁. Do you invest also in US ETFs?. I do. Even have some TECL and TQQQ, investing from Canada. Your thoughts ?
If be buys USA stocks there is a 15% withholding tax on any dividend payouts so its not always the most tax efficient way to do it.
Always talk to a tax professional and don’t just listen to a person on any site due to the different tax law differences.
Us stocks that pay dividends is not a great strategy for your tfsa for that very reason.
Good video, I can’t wait to see a series possibly made on it on youtube.
— Question —
I know people use leverage for investing in their taxable account but I was wondering if the CRA there would get mad/audit a person if they pulled money from a credit card/mortgage/line of credit to put into their TFSA to buy stocks?
The old Brandon is back! Loved this video great content way to go bro
Rounded second with the weakest 6 month stock market performance in 50 years. This is a great opportunity considering what happend the last time inflation took off. Found success with disruptive companies and mainly being focused on growth. There are many different paths to find financial freedom and you should gather as much information from as many different sources to make informed decisions on your portfolio. Great video!
quality video bro, hope the break served u and ur family well
Appreciate that bro 🙏🏻🙏🏻
Looks good. I like to see you focus more on the TD’s and CNR’s of the world, solid long term dividend growth companies that most Canadians should be buying.
Thank you so much for this detailed video. You’ve included tons of brilliant info in just 10 mins.
What is the platform/app you’re using at 6:45?
Great education Brandon! 👍