I’m curious to hear about your experiences with your TFSAs. If you’re comfortable sharing, I’d love to know:
Which bank or investment platform/company you use.
Whether your TFSA is invested in ETFs, mutual funds, individual stocks, or a savings account.
What kind of return you’ve been seeing, and over what timeframe.
Whether you manage it yourself or use a managed portfolio.
I understand that returns can vary depending on risk level, investments, and market conditions, so I’m not looking for financial advice, just hoping to learn from the community and compare experiences.
Hey @msmithalav I use wealthsimple for TFSA and it invests in ETFs you can choose what if you want a high risk or medium or low risk and the return rate varies based on that 3 percent for the lowest to 7 percent for the highest aproximately. I am sure there are other options too but wealthsimple is easy and works. wealthsimple portfolios are managed so if you want to manage your own then you gotta look at other options i assume.
There are multiple investment options available if you want to really use the TFSA for higher ROR, such as ETFs, Seg funds (Typically not offered by banks, it avoids probate too if my research is right) offered by licensed investment advisors who operate, Direct Stocks, Simply money market etc.. It all depends on how much risk an individual is able to take.
With all due respect you are asking for Confidential Financial information, and I believe this platform is not meant for this, I trust this to be satisfactory. I worked 42 years in the Financial Services industry, and mainly in banking and I would not give you my information and stratigies, with some type of compensation. I do not give free advice.
My experience has been similar to @sandeepbh . I used my TFSA and RRSP space at Wealthsimple for years, switched it all over to Neo a couple of years ago and got the same return. More recently, I had to pull it out to purchase our new home, but I’ve heard the rates are down.
From what I say, the return after management fees was generally 2-3x the rate of inflation.
Yeah, it’s one of the communities biggest pain points right now that we’re trying to champion internally. The Neo Invest product needed some pretty major updates around March this year and fixing them hasn’t really happened.
Nothing so interesting! The funds are performing fine. In fact, everyone who already had a Neo Invest account can continue to use it. AFAIK there were some changes on our partner’s side that opened up a possible regulatory risk for new account creations. They’re going through some kind of M&A activity right now. People should be able to open new accounts again when it settles out.
My primary TFSA account is self-managed and invested in ETFs. This account was transferred to Wealthsimple at the beginning of the year to take advantage of the “Unreal Deal” promotion they had.
Long term returns are tricky to calculate when deposits and withdrawals are taken into account but I haven’t made any of those since January so any change in the value of my account since then must be the result of investment returns. From Feb 16 to Aug 16, my account has grown by a little over 12.5% which implies an annualized rate of return of over 25%.
Now, I don’t think it’s even remotely reasonable to expect 25% returns going forward, but it sure is nice when it happens. Your mileage may vary.
We use an investment firm that primarily buys stocks in dividend paying companies. We maximize our TFSA every year The returns since we started have been over 90%
Stocks can be riskier but we avoid trendy tech or crypto stocks Primarily buying old boring companies that have a reputation of making money & paying dividends
