This article profiles Daniel, a 61-year-old retiree from Montreal who grew his TFSA to over $1.2 million through investing in technology stocks. It details his investment strategy, emphasizing long-term holdings and maximum annual contributions. The piece also highlights a potential error that could have significantly impacted his portfolio value.
This is TFSA Trouncers, a series that profiles Canadian investors who’ve accomplished incredible feats with their tax-free savings accounts. If you have grown your TFSA to half a million dollars or more, drop us an e-mail at. You may choose to be anonymous, but we do require an e-mail address and may request a screengrab of your portfolio for fact-checking purposes. We’ll also be profiling people who haven’t been so lucky with their TFSA s.
His interest grew into a passion and daily reading routine when the focus widened to picking the technology stocks that have filled up his TFSA since 2009. Every year, he made the maximum TFSA contribution , with deposits occurring in January . Is his wife concerned about her husband’s risk-taking? “She is very supportive actually,” Daniel replies. “In fact, she has her own TFSA and we talk about what stocks to buy or sell.” Their 20-year-old son got his TFSA before his driver’s licence.
Daniel intends to keep trying to grow his TFSA. He wants to leave it as an inheritance for his children and to make donations to worthwhile causes.We asked Geoff Saab, vice-president and portfolio manager at Doherty & Associates Investment Counsel, for his thoughts on Daniel’s TFSA. Mr. Saab is also the author of
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