Happy New Year! Time to add $5,500 to TFSAs

Welcome to 2017. We’ll keep this one brief but a reminder that on the money front, there’s already a positive action you can take, either online now or whenever your financial institution opens its doors this week: make the 2017 contribution to your TFSA, or Tax-free Savings Account. That’s $5,500 per individual, amounting to $11,000 for couples.

Remember, if you don’t have the ready cash you can make transfers-in-kind if you have securities in non-registered investment accounts. (Some tax may have to be paid if this triggers capital gains).

Speaking of taxes, Jamie Golombek has a good column in this weekend’s Financial Post on current tax brackets and other tax data: click on Here are the New Numbers you need to get a jumpstart on your 2017 taxes.

How investing can help you achieve Financial Independence

While today’s blog is necessarily brief, a reminder that Saturday’s guest blog provides a timely summary of how investments performed in 2016, and an overview of how successful investing is a key ingredient  to achieve Financial Independence (aka Findependence). Click on the second link to get to our sister site’s republishing of the Boomer & Echo review of the new book, Victory Lap Retirement.

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