Borrow money to max out TFSA? (lemmy.world)

submitted 2 months ago by [email protected] to c/[email protected]

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I've just heard of someone doing that and it ended badly, but that was because the person over contributed. I wonder if it would be legal/smart for me to do that? I don't make enough to max out my TFSA and don't take risks investing (only invest in global ETFs and bonds).

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[-] [email protected] 8 points 2 months ago

If you mean taking out a loan to put in your TFSA, that's a horrible idea.

The market is very volatile right now and there's a lot of uncertainty with what's going to happen next. Then you'll be stuck with a loan on top of your investment losing money. It's very risky.

this post was submitted on 23 Mar 2025

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