Long term holding of bank stocks.

Hey quick question here , looking at starting a long term position in either BMO or TD and was just wondering what your thoughts are on holding it in a tfsa vs rrsp. Is it better to hold in an rrsp since I plan on buying and holding these stocks for the very long term? Thanks !

Marked as spam

Asked on January 6, 2021 9:02 am

0 views

Follow
Unfollow

▲

▼

✔

Private answer

Hi there,

Outside of your individual tax situation - there is no benefit of holding it in either the TFSA or RRSP. Both are excellent places to stash long-term investments. It will all come down to your general tax profile and whether it is best to contribute to your TFSA or RRSP. General rule of thumb is lower earning years - TFSA, higher income years - RRSP. That however, is a very broad generalization and may not be appropriate for everyone.

Mat

Marked as spam

Posted by Mathieu Litalien

Answered on January 6, 2021 10:23 am

« Back to Previous Page