The Canadian government just penalized me $5000. for placing too much money in a TFSA. That was after I waited a full year for a government bond to mature and the money returned back to me with a 0.1 percent profit. Meanwhile, I waited cash free for a full year. I FORGOT ABOUT THE CLEVER REGULATION THAT FORBIDS PLACING TOO MUCH CASH IN A TFSA. I WAS USING THE TFSA TO BUY GOVERNMENT BONDS!!
I am an old pensioner with a faulty memory. I BELIEVE I MADE THE SAME MISTAKE LAST YEAR! I KEEP FORGETTING that placing any money above 90,000 in a TFSA IS PENALIZED! HOWEVER, I did learn a couple of lessons. Never buy government bonds under 2 percent and never place your life saving in a "Tax Free Savings Account." or TFSA. IN FACT, DO NOT KEEP A TFSA! THEY ARE MONEY TRAPS FOR BOTH THE GOVERNMENT AND POSSIBLY, FOR SCAM ARTISTS!
I RECOMMEND YOU GIVE YOUR LIFE SAVINGS TO ACTIVE AND LEGAL NON PROFIT CHARITIES OR SPEND YOUR MONEY ON A NEW ELECTRIC CAR OR DISTRIBUTE YOUR CASH TO DESPERATE FAMILY MEMBERS AFTER YOU RETURN FROM A TOUR AROUND THE WORLD. HAVE A GREAT LIFE!
J.N.R.
No comments:
Post a Comment