Investment Q&A

Q: Hi,
I am pretty confident that I am correct! But wanted to make sure.

I need to help our adult "child" to buy a place. (Bidding wars have disappeard and some sense of normalcy has returned. Prices are still at least 10% higher than normal I would say!)

If I take 10,000 out of my TFSA, on January 01 2024, I can put in 10,000+6500=16500. Correct? Assuming in 2024 TFSA contribution remains at 6500.

Correct me if I am wrong.

Mano.

Q: I need to add income equities to the TFSA as the income target is underwater. With this, I'm pondering adding BMO Covered Call Canadian Banks ETF(ZWB-T) to the TFSA for extra income, rather than say ENB that I would prefer to hold in a trading account and also rather than hold a small capitalization stock like AW.UN. What do you say about this option, ZWB for a mate over the age of 71?
If you are aligned with this approach, are there other Covered Call ETFs that you would suggest from my consideration?
Many thanks for the hints!!!......Tom

Q: I have some new money to invest in my TFSA. I am well diversified in my other accounts, and am now wondering what to add to my TFSA. I am a senior so I would say about a 5 year time frame that this would stay in the TFSA, maybe more.
Any suggestions you have would be helpful.
Thanks so much for your help in the past, it has always proved very lucrative.
Shirley

Q: i HAVE ALL LOOSER IN MY tfsa,MTLO,TOI,WCP,XBC
iS ny of this worth keeping,what do I replace of if any sold
Thanks

Q: there are often questions about replacing positions in a TFSA by way of transfer outs. but then there is mention that there will be a need to wait until the next year to contribute to the TFSA to replenish for this transfer out.
just want to say, to get around this waiting period, I transfer in cash or security one day for the slightly more than I expect to transfer out and then the following day, transfer out the position and then the following day, make an adjustment for the difference between the the transfer in amount and the transfer out amount.
for me, been doing this for some time, aka years, and all is well.....just a heads up but use you own judgment .....Tom