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Postess with the Mostest
Apr 4, 2007

Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes

McGavin posted:

Sure, carrying a loss back 3 years is fine, but what's really wild is that you can carry forward a loss to apply it against any profit that you might make over the next 10 years.

You sure it's 10 years and not indefinitely? I've heard the latter a bunch of times

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McGavin
Sep 18, 2012

Oops, sorry it's 20 years.

BMan
Oct 31, 2015

KNIIIIIIFE
EEEEEYYYYE
ATTAAAACK


I did that whole rigmarole once, but only because I had switched to a one-fund portfolio and there was an opportunity to reduce the tax hit of that

kaom
Jan 20, 2007


Re. rationale on paying down the mortgage, we were up for renewal so we could make a penalty-free payment. I’m not sure it was financially optimal compared to accepting a higher interest rate and hoping to win out with the investments increasing in value, but it’s close enough I’d have to actually calculate it out now with the benefit of knowing exactly what the market did. At the time it was more about reducing our risk than anything, since we didn’t know if markets would rebound as rates went up (we could have lost on both fronts) and we had a relatively short window (1-2 years) in which we were hoping to be spending money on a new home. If we were only looking long term I’m not really sure if we would’ve done the same thing. We also had no idea if house prices would start coming down, so whether we needed the TFSA for that or for retirement was also up in the air. :shrug: I guess put us in the “psychological safety” bucket, not so much number crunching.

In the end we’re moving next month and did need the full home equity, but we don’t need anything more out of our savings, so I think it worked out okay?

MrAmazing
Jun 21, 2005

McGavin posted:

Oops, sorry it's 20 years.

That’s for non-capital losses (rental, business income etc). You’re very unlikely to have business losses from tax loss harvesting on portfolio investments. If you do, you need a professional accountant and not a comedy forum.

fisting by many
Dec 25, 2009



kaom posted:

Re. rationale on paying down the mortgage, we were up for renewal so we could make a penalty-free payment. I’m not sure it was financially optimal compared to accepting a higher interest rate and hoping to win out with the investments increasing in value, but it’s close enough I’d have to actually calculate it out now with the benefit of knowing exactly what the market did. At the time it was more about reducing our risk than anything, since we didn’t know if markets would rebound as rates went up (we could have lost on both fronts) and we had a relatively short window (1-2 years) in which we were hoping to be spending money on a new home. If we were only looking long term I’m not really sure if we would’ve done the same thing. We also had no idea if house prices would start coming down, so whether we needed the TFSA for that or for retirement was also up in the air. :shrug: I guess put us in the “psychological safety” bucket, not so much number crunching.

In the end we’re moving next month and did need the full home equity, but we don’t need anything more out of our savings, so I think it worked out okay?

Financial security is worth it. It's life, not minmaxing a number.

MrAmazing
Jun 21, 2005

fisting by many posted:

Financial security is worth it. It's life, not minmaxing a number.

Paying down a mortgage is also effectively a risk free return, assuming you’re not in Alberta/Saskatchewan or another jurisdiction that allows non-recourse mortgages (and you signed onto one). Investment returns shouldn’t be directly compared to paying down a mortgage without also assessing the comparative risk to get those returns.

Square Peg
Nov 11, 2008

The reduction in interest payments also a "tax free" return, so that should be factored in, too.

Jenkl
Aug 5, 2008

This post needs at least three times more shit!
Yeah that kind of rule of thumb thinking only applies when interest rates were basically zero and equity returns were thirty billion percent. You really need to consider your own risk tolerance and situation.

mila kunis
Jun 10, 2011
With inflation going on I'm looking to put some of my savings into relatively safe investments, does anyone have any thoughts on:

- inflation protected securities bonds/securities (I know the US has these, are there good equivalents in canada?)
- buying bonds vs buying bond ETFs
- with interest rates rising, are GICs and savings accounts offering interest worth a drat?

pokeyman
Nov 26, 2006

That elephant ate my entire platoon.

mila kunis posted:

With inflation going on I'm looking to put some of my savings into relatively safe investments, does anyone have any thoughts on:

- inflation protected securities bonds/securities (I know the US has these, are there good equivalents in canada?)
- buying bonds vs buying bond ETFs
- with interest rates rising, are GICs and savings accounts offering interest worth a drat?

I'm not saving for anything specific in the next few years, so I'm sticking with a savings account. If I had something in mind, I'd be looking at relevant duration bonds or GICs. Bond funds don't strike me as safe short-term investments but I'm no expert.

https://www.highinterestsavings.ca/chart/ rates have been going up all year. You'll never avoid inflation entirely but there's movement.

Arc Hammer
Mar 4, 2013

Got any deathsticks?
Why must the banks be so exhausting to deal with. All I needed was to increase my daily transaction limit. But the bank won't allow me to do that because I opened my account in the central region and I'm currently living in the eastern region so they can't do poo poo. And transferring everything to the eastern region is impossible because they'd want me to open a new account. So now the only way to change things in my account is via phone calls or in-person bullshit and I'm about five hours away from the branch where I originally opened my account ten years ago.

All this online banking poo poo and yet changing anything meaningful needs to be in person with obstinate and incompetent bank tellers.

VelociBacon
Dec 8, 2009

I'm with HSBC and RBC is going to buy them? Should I look for another bank or is RBC good?

Arc Hammer
Mar 4, 2013

Got any deathsticks?

VelociBacon posted:

I'm with HSBC and RBC is going to buy them? Should I look for another bank or is RBC good?

I'm with RBC and see my above post about their tellers being exhausting to work with.

Day to day online banking with them is fine but I'm still irritated over this morning.

Toalpaz
Mar 20, 2012

Peace through overwhelming determination
I think that the banks are all fundamentally similar but RBC has hosed me with fees in the past and ignorant tellers who don't know their own services costing me hours of time and tens of dollars of fees I have to work to get back.

I like their mobile app....all the banks have decent apps and similar services though. Both times working with bmo I've had good customer service so far, including managers advocating for me to their corporate services branch (idk what it's actually called, but I hope you get an idea).

Postess with the Mostest
Apr 4, 2007

Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes

mila kunis posted:

With inflation going on I'm looking to put some of my savings into relatively safe investments, does anyone have any thoughts on:

- inflation protected securities bonds/securities (I know the US has these, are there good equivalents in canada?)
- buying bonds vs buying bond ETFs
- with interest rates rising, are GICs and savings accounts offering interest worth a drat?

You can get GICs above 5% now or you can get canada treasury bills around 4% annualized if you want to do like 3 months at a time or something.

Femtosecond
Aug 2, 2003

mila kunis posted:

- with interest rates rising, are GICs and savings accounts offering interest worth a drat?

I'm getting instagram ads for Vancity GICs of less than a year for like 4%+

qhat
Jul 6, 2015


RBC's mobile app is great. Their products however are trash and as mentioned above their tellers are incompetent idiots in almost and possibly every branch I've been into. I switched to HSBC a while ago and I'm pretty pissed that I'm going to have to switch to another bank soon.

Speaking of, how good are each bank about upping e-transfer limits from the paltry $3k a day or whatever? Scotia seemed to have the right combination of accounts I wanted, but I phoned them up to ask about e-transfer limits and fobbed me off with "it depends" and wouldn't elaborate on what it depends on. TD I've heard will do it no problem, but I want to know if anyone has tried this at their bank at any point.

Femtosecond
Aug 2, 2003

A more detailed article about tax loss harvesting. As we're now in December, you only have a short while left to consider doing this to get losses applicable for the next tax season.

quote:

It’s tax-loss harvesting time again

I don’t have much use for falling leaves. My kids are long past the age of jumping into piles of the things, and I resent every second I spend raking and stuffing them (the leaves, not my kids) into paper bags to put at the curb.

But falling stock prices? They’re a lot more useful than falling leaves this time of year.

With stock markets slumping in 2022 amid inflation, rising interest rates and recession fears, many investors are sitting on paper losses. Fall is the perfect time to “harvest” these losses for tax purposes.

Here’s a guide to tax-loss harvesting – also known as tax-loss selling – and some tips for doing it without running afoul of the Canada Revenue Agency.

Why sell a stock at a loss?

Normally, people like to sell stocks for a profit. But if you sell a stock for a loss in a non-registered account, you can use that capital loss to offset any taxable capital gains you have. No capital gains this year? No problem. You can carry back your capital loss for up to three years, or forward indefinitely, to offset capital gains in other years and reduce your tax bill. Just remember that tax-loss selling only applies to non-registered accounts; it doesn’t work in registered accounts, which are not subject to capital gains tax.

Can I buy the stock back right away?

No. For the loss to count as a capital loss, you must wait at least 30 days before repurchasing the shares. If you jump the gun, the loss is considered a “superficial loss” and you can’t use it to offset capital gains. The 30-day restriction also applies to the period before you sell the shares. For example, if you own 100 shares of Shopify Inc. increase that you’re planning to sell for a tax loss, and you purchase an additional 100 shares less than 30 days before the sale so that you’ll maintain ownership of 100 shares after the sale, that’s also considered a superficial loss.

What if I repurchase the stock in my RRSP or TFSA?

Sorry, you can’t get around the 30-day restriction by repurchasing the shares immediately in a registered account. The same goes for any account controlled by your spouse, as that would also count as a superficial loss. The purpose of these rules is to prevent investors from selling for the sole purpose of claiming a tax loss while still maintaining ownership of the shares.

But what if I still like the stock?

If you’re worried that the stock price could rebound during the 30-day waiting period, you have a couple of options. You could simply hold on to your shares and forget about the tax loss. Or, you could sell the stock and immediately repurchase a similar, but not identical, security whose price has a strong correlation with the stock you just sold. For example, you could sell Bank of Nova Scotia for a tax loss and immediately purchase Canadian Imperial Bank of Commerce or even a bank stock exchange-traded fund. That way, you’ll still benefit if bank stocks rally. You could even sell one ETF and buy another ETF, but make sure the two ETFs don’t track the same index or you could trigger the superficial loss rule.

So what happens if I sell shares for a loss and buy them back before 30 days have passed?

Even though you can’t claim the loss in the current year, you still get a consolation prize: You are permitted to add the absolute value of the loss to the adjusted cost base of the shares you own. Doing so will reduce your capital gain, or increase your capital loss, when you eventually sell the shares. So the loss still has value, but it gets pushed down the road a bit.

Can I transfer a losing stock to my TFSA or RRSP and claim the loss?

Nope. You would still have control of the shares in that case, so you could not claim a capital loss. But if you transfer a stock with an unrealized capital gain to your TFSA (or other registered account), you’ll still have to pay capital gains tax. Nobody said life is fair.

What’s the tax-loss selling deadline?

You must sell your shares on or before Dec. 28 to claim the loss for the current tax year. That’s because stock trades take two business days to settle. If you wait until Dec. 29 to sell, your trade won’t settle until Jan. 3 because of weekends and holidays, and you won’t be able to use the tax loss this year.

Bottom line: It’s fine to put off raking leaves, but don’t wait until the last minute to harvest your tax losses or you could regret it.

Arc Hammer
Mar 4, 2013

Got any deathsticks?
Funny enough while the bank tellers at the RBC here in Ottawa were completely useless, once I got on the phone with the branch in Guelph they were able to change my transaction rates in five minutes and four of those minutes were spent trying to tell me about online offers. So score one for Guelph RBC it seems.

Postess with the Mostest
Apr 4, 2007

Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes

qhat posted:

RBC's mobile app is great. Their products however are trash and as mentioned above their tellers are incompetent idiots in almost and possibly every branch I've been into. I switched to HSBC a while ago and I'm pretty pissed that I'm going to have to switch to another bank soon.

Speaking of, how good are each bank about upping e-transfer limits from the paltry $3k a day or whatever? Scotia seemed to have the right combination of accounts I wanted, but I phoned them up to ask about e-transfer limits and fobbed me off with "it depends" and wouldn't elaborate on what it depends on. TD I've heard will do it no problem, but I want to know if anyone has tried this at their bank at any point.

Their app is a bit garbage too. You can turn on MFA for banking but if you go to RBC direct invest web login for the same account (you can immediately click into banking from direct invest), it just doesn't care about MFA at all. Called them about it and they're like whatever.

qhat
Jul 6, 2015


Postess with the Mostest posted:

Their app is a bit garbage too. You can turn on MFA for banking but if you go to RBC direct invest web login for the same account (you can immediately click into banking from direct invest), it just doesn't care about MFA at all. Called them about it and they're like whatever.

I heard they brought in like actual software token 2fa for all logins recently? One of the main reasons for me switching to HSBC is because they were literally the only bank in Canada with good security measures, but that sounds trash if what you’re saying is right. Wouldn’t surprise me that DI fucks everything up because they are almost a different organization.

HookShot
Dec 26, 2005
I also have only had lovely experiences with RBC, but tbh I imagine the experiences with all big 5s are going to be pretty similar and YMMV.

Postess with the Mostest
Apr 4, 2007

Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes

qhat posted:

I heard they brought in like actual software token 2fa for all logins recently? One of the main reasons for me switching to HSBC is because they were literally the only bank in Canada with good security measures, but that sounds trash if what you’re saying is right. Wouldn’t surprise me that DI fucks everything up because they are almost a different organization.

It's definitely still like that. Do it all the time, whenever I forget my phone in the kitchen and too lazy to get up, I just go to direct invest login page instead. It's a little terrifying

Femtosecond
Aug 2, 2003

As interest rates keep spiralling higher and higher we are entering some interesting times where the last decade of personal finance advice articles are not necessarily worth following anymore.

For years now there's been a lot of advice to load up your TFSA, then RRSP, then work on debt, since returns on the market could be expected to be better than the sub 3% interest rate on debt. At least this year this hasn't been the case!

Maybe some people don't agree with that logic, but I definitely feel I've read it again and again during the last years of our super low interest rate environment.

Just having a glance for an example and TD's HELOC interest rate is 5.95% and we can expect that to continue to creep up higher and higher.

At this point should people with debt going so far to be emptying their TFSA to avoid paying ~6%+ on their debts? I think it could make sense.

And then the newly debt free can start setting aside a bit of money from paycheques toward rebuilding that TFSA by adding new positions into a severely declined market.

pokeyman
Nov 26, 2006

That elephant ate my entire platoon.
I mean, general advice is never a substitute for running the numbers on your actual situation. The usual advice I see (and would give) is something like:
1. Pay off expensive debt.
2. Save and invest via tax-advantaged accounts.
3. Invest via taxable account and/or pay off inexpensive debt, as preferred.

I think that advice still applies? You left out step one, but I don't remember seeing advice to carry a credit card balance or take out payday loans to juice your TFSA. And finding one year of bad returns and increasing interest rates doesn't much matter on a scale of decades.

Though you're entirely right to be wary of advice that assumes low or non-increasing interest rates. Or that stocks never have consecutive bad years. If you come across examples of personal finance advice that seemed good but now seems invalid, I'd be curious to see it. I'm sure it's out there but so far you're beating up a strawman. (Unless taking out a heloc to invest in stocks was common advice?)

The NPC
Nov 21, 2010


pokeyman posted:

I mean, general advice is never a substitute for running the numbers on your actual situation. The usual advice I see (and would give) is something like:
1. Pay off expensive debt.
2. Save and invest via tax-advantaged accounts.
3. Invest via taxable account and/or pay off inexpensive debt, as preferred.

I think that advice still applies? You left out step one, but I don't remember seeing advice to carry a credit card balance or take out payday loans to juice your TFSA. And finding one year of bad returns and increasing interest rates doesn't much matter on a scale of decades.

Though you're entirely right to be wary of advice that assumes low or non-increasing interest rates. Or that stocks never have consecutive bad years. If you come across examples of personal finance advice that seemed good but now seems invalid, I'd be curious to see it. I'm sure it's out there but so far you're beating up a strawman. (Unless taking out a heloc to invest in stocks was common advice?)

I remember reading articles about taking out a sub 3% line of credit to buy equities which you earn more than that in the short term.

I think the main point here is there were lots of debts people classified as inexpensive when they were acquired (e.g.: loc at prime + 1.5) which are now comparatively expensive at 8+%. Now that the numbers have changed, lots of top advice articles need to be updated. New investors are going to either blindly follow them because that's what they've been linked, or be confused as to why their numbers aren't adding up the way the article's are.

Jenkl
Aug 5, 2008

This post needs at least three times more shit!
You're not wrong, but if you read advice that's "borrow at 3% to go earn 7%" and you're like "awesome idea", but then you look and borrowing rates are 8% while equities are an extremely uncertain 7% still, and you do it anyways...

Well that's on you.

qhat
Jul 6, 2015


Borrowing to invest is almost never a good idea, unless you are okay with losing all your money.

Femtosecond
Aug 2, 2003

I swear I was seeing these articles everywhere, but on a custom google search excluding 2022, which is surely not giving this advice this year I didn't find much from the Globe and Mail. Just this article from 2021 alluding to the fact that there def are some giving this advice, but dissuading people. Maybe the conservative Globe has never promoted this and it's always just been young FIRE bloggers or some poo poo, but I do think that even the Globe has suggested this in the past.

They certainly have an article up as of October 26 reiterating what I said in my earlier post, that you should definitely NOT do this right now. It also alludes to there previously being a lot of advice that borrowing to invest was a good idea.

quote:

The smart money is saying no to borrowing against home equity

Borrowing against your home equity to invest was the savviest move in personal finance until recently. Stocks were flying, and so was the housing market. Plus, you could borrow at rates that seemed trivial in comparison to projected rates of return.

The mindset that home equity must be exploited to generate economic gain persists, even as rising rates jack up the cost of carrying a home equity line of credit. A reader recently enquired about the $700,000 he has in his home. “Should I be using that equity to invest or for another purpose, such as purchasing another property?” he asks.

Answer: No, not now.

The Bank of Canada increased its overnight rate by one percentage point on Wednesday, a move that will be passed along in full to floating-rate debt like credit lines. The total increase in the overnight rate this year by the central bank amounts to 2.25 points, and more rate hikes are coming.

The cost of borrowing with a HELOC after the latest Bank of Canada move will typically be 5.2 per cent, plus or minus a bit. To make investing with a HELOC effective, you need to earn an after-tax return that beats your cost of borrowing.

Stocks are having a bad year, so you’re buying at better prices than six months ago. But there’s so much economic uncertainty to contend with today. A drop of 10 or 20 per cent in stocks is just as possible as similar gains. You’re dealing with similarly negative sentiments in real estate. High rates have already pulled back home prices from the February peak and more downside seems likely as rates soar.

It’s okay to leave your home equity untouched. That’s how we used to roll in Canada, before HELOCs became a wealth-building tool for many. Full credit to all who dipped into a HELOC and generated big returns in stocks or real estate. You exploited a moment in time.

We now live in a different time, where asset prices are falling and interest rates are rising. If we get to a point of low prices for stocks and property along with declining rates, borrowing to invest with a HELOC might make sense again.

My concern for casual investors is those with a "set and forget" mindset, perhaps in 2021 doing a maneuver like this and shutting their brain off and pretty much not looking too closely at their bank statements. They might not even realize yet that they're paying almost 6-7% in interest and no longer 4%.

Femtosecond
Aug 2, 2003

Some kudos to the Globe here for at the very least throwing up a little tag saying "um this is old fyi be wary"

Femtosecond fucked around with this message at 19:58 on Dec 4, 2022

tagesschau
Sep 1, 2006
Guten Abend, meine Damen und Herren.

qhat posted:

Borrowing to invest is almost never a good idea, unless you are okay with losing all your money.

This goes for housing and not just equities, by the way. Some Canadians are about to get hands-on experience with this fact.

Jenkl
Aug 5, 2008

This post needs at least three times more shit!

tagesschau posted:

This goes for housing and not just equities, by the way. Some Canadians are about to get hands-on experience with this fact.

Same folks whining that the mortgage stress tests were unreasonable :shrug:

Femtosecond
Aug 2, 2003

I'm trying to remember the argument some mortgage broker made to me about why the stress test was the cause of the housing crisis... Something like how it artificially forced everyone into the same "low price" product and there wasn't enough of it, so then the price went up? I forget it made no sense.

qhat
Jul 6, 2015


Femtosecond posted:

I swear I was seeing these articles everywhere, but on a custom google search excluding 2022, which is surely not giving this advice this year I didn't find much from the Globe and Mail. Just this article from 2021 alluding to the fact that there def are some giving this advice, but dissuading people. Maybe the conservative Globe has never promoted this and it's always just been young FIRE bloggers or some poo poo, but I do think that even the Globe has suggested this in the past.

They certainly have an article up as of October 26 reiterating what I said in my earlier post, that you should definitely NOT do this right now. It also alludes to there previously being a lot of advice that borrowing to invest was a good idea.

My concern for casual investors is those with a "set and forget" mindset, perhaps in 2021 doing a maneuver like this and shutting their brain off and pretty much not looking too closely at their bank statements. They might not even realize yet that they're paying almost 6-7% in interest and no longer 4%.

So the theory goes that in a world where interest rates are high, you should expect return on risky assets like equities to increase in line with the changing risk profile of the entire stockmarket. The only trouble is that in order for those returns to materialize, the price of equities has to fall in the short term to account for the fact there are less riskier assets that pay higher returns. The exact same stock that has roughly the same revenue and risk profile but significantly cheaper is going to give you those higher returns. At any rate, if you could legitimately just sit around and earn 15% on an interest rate of 7%, you should absolutely make that deal all day every day. The trouble is that people never get to that point because guess what, you still have to pay that interest every year regardless whether you saw any returns, and margin calls are a real thing that happens, so you better hope you didn't lose your job or anything.

TLDR borrowing to invest is dumb, and should only be done if you are chill with losing 100% of your investments at any point.

Toalpaz
Mar 20, 2012

Peace through overwhelming determination
Hey CanGoons,

I have a question for all of you good people who may be more knowledgeable than I with regards to TFSA rules.

I've tried to look up the rules online and they seem to be intentionally open ended. I think this is to keep the door open for future management about what a qualified TFSA investment is, potentially in order to tax gains.

Long story short, I'm youngish. Why not buy SPXL (NYSE Arca, designated exchange security) for 6+ month or multi-year holds with post tax money rather than in a deferred tax RSP.

If I don't touch the money for over several months, I don't see any reason why it should be considered business income or long-term cap gains. However, everything I see online warns that the CRA has discretion in examining the type of trade and asking for taxes.

Would a 3x leverage ETF following the SP500 end up getting flagged as business/cap-gain income without being sold? Would this put me at risk of being taxed later, defeating the purpose of the TFSA vehicle?

Please don't talk to me about leverage ETF decay, I understand the risks.

Thanks!

pokeyman
Nov 26, 2006

That elephant ate my entire platoon.
The conventional wisdom I’ve absorbed is “don’t day-trade in your TFSA”, which I’ve taken to mean it’s the trading frequency and not what’s being traded. But as you point out it’s left intentionally open-ended so CRA has plenty of discretion.

If I was making two trades a year I’d be pretty surprised to hear from CRA about it. I also feel confident I could talk my way out of a penalty if they were threatening one. But I’m not an expert and haven’t tried myself.

unknown
Nov 16, 2002
Ain't got no stinking title yet!


Pretty sure I read that the CRA comes back to you and makes you prove that you're not doing trading in your TFSA as a "job" (as income derived from that is taxable) type of situation. Same kind of thing with people who were flipping houses and claiming them as their primary residence so they wouldn't pay any taxes on the sales.

Jenkl
Aug 5, 2008

This post needs at least three times more shit!
Nobody knows for sure since they don't publish hard and fast rules. But from what I've heard frequency is the biggest trigger for getting a letter from the CRA about what's going on in your TFSA.

If I was trading the same security less than once a month, regardless of what it was, I would not be concerned. And from the various stories I've read, there's a lot of room above that before poo poo gets dicey.

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VelociBacon
Dec 8, 2009

Four things:

1) if you're holding it a long time they don't consider it day trading. Just because it's a volatile investment vehicle doesn't upset them. I have a bit of leveraged ETF in an RRSP and in a TFSA.

2) the concern people have with leveraged ETFs in a TFSA is that you can only put so much into the TFSA. Because it's tax free, people generally want to put safer investments in their TFSA as you don't risk losing that $ room. For an example, if you bought a SPY put for $1000 that expired worthless, you've just lost $1000 of room in that account, forever.

3) leveraged, especially triple leveraged ETFs are not good for long term holding because they 'slip'. There's a lot of articles online about this but basically speaking, due to the management fees and the way they generate the leverage, you're actually exposed to a little more downside than upside. In choppy markets you especially take a hit. It's worth reading alot about this.

4) buying SPXL in a TFSA also means you're taking CAD and using it to buy USD shares. It's not the end of the world but SPXL isn't CAD hedged or anything. You're basically existing yourself to some currency fluctuations. It's not a huge deal but again worth doing the research.

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