Young is a writer and former owner of Young and Thrifty and the main "twitter' behind Young and Thrifty's twitter account. She lives in Vancouver, BC and enjoys long walks on the beach, spending time with her anxious dog, and finding good deals. If you like what you read, consider signing up for email updates.

10 Responses to Tax Free Trading Account (a “souped up” TFSA)

    • Thanks for stopping by- Think Dividends.
      I think a REIT is the way to go as well. With the interest rates continuing to be so record lows (confirmed today) our real estate market will continue to be healthy (not healthy for my house-buying ventures because the prices are just going to go up, up, up… but good for REITs!).
      Are you planning to buy just one stock?
      I’m planning to buy three; 100 shares of each. I’ll let you know what I buy in my next post. =)

  1. Thanks so much for this blog (?) I’ve learnt quite a bit and i’m kinda new at it so it’s cool to see what I should be doing to get resullts.

    I have 2 questions for you.

    1. If I have an TFSA at a bank can I open the questrade tfsa or do i have to close the other one first?

    2. i can’t find yellow pages fund on questrade. I’ve looked under ylo.un.to and ylo-un.to. and a few other variations. how can I buy into it?

    • @Lumbanted- I hope youngandthrifty.ca’s a blog! :) I guess I don’t reveal the nitty gritty details of my personal finance life, but hopefully it’s enough to let you guys get a picture of who I am :) here’s my answers:

      1. yes, you can have a TFSA at both institutions (I do), but you need to keep track of them to make sure both combined don’t go over the $15,000 allowed limit contributed.
      2. YLO isn’t an income trust anymore, so it doesn’t have the “UN.TO” symbol. Anything that was an income trust had the “UN” with it. Now that it’s a corporation, it is just YLO.TO. I didn’t buy anymore YLO this year because they cut their distribution/ dividend after they became a corporation.

      Hope that helps!

  2. Yea sorry i’m not super techy on what things are called so i wasn’t sure this would be classified as a blog because I’ve never encountered one before…knowingly.

    Thanks for all the info i’m gonna get me a tfsa with questrade asap

    • @Lumbanted- :) I HOPE this is called a blog. I just got an email from a reader who used his TFSA as a trading account to (to hold stocks in) and he has made over $43,000 on paper with his TFSA so far. That is in my opinion, fantasmic!

  3. I.e. the 43K: how?!?! : ). i can’t even do that with my regular margin account. and it’s got more than 5000 in it.

    • @Lumbanted- I know! Venture stocks and stocks that are newly incorporated, have good paying dividends. Or even stocks that tripled, quadrupled. For example if I HELD onto SVM (Silvercorp Mining) at $5 a share like it was, it’s now $15 a share.. e.g. if I was extremely adventurous, I would have bought many shares at the $10,000 limit the TFSA had and I would be at $30,000. (hindsight=crystal clear 20/20 vision). In that particular case, the reader said he bought EIF.TO (one of my favourite TFSA picks).

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