My total contribution room (checking on the CRA website) is something ridiculous thanks to Harper adding the extra $500 for 2013 in contribution room. Because I sold for a gain a few years back with the income trusts I held, I have had increased contribution room. My total contribution room is $9450 for 2013. This is a little steep for me but hopefully I can at least achieve the minimum $5500 for the year. I think my OCD tendencies though will want me to max out the TFSA so I can start fresh for next year at $5500.
With so much contribution room, I think I will round out the ETFs (XDV, CPD, and CYH) that I hold since they are pretty much at the same cost that I purchased them for (which pretty much reinforces my interest in dividend stocks versus ETFs but I don’t think Teacher Man will appreciate my comment 😉 ).
I think in terms of dividend income goals, I think that adding another $400 or so of dividend income for the year might be feasible? As long as I contribute $9000 or so in the TFSA (estimating the 5% annual yield I have been getting on average).
What do you guys think I should do? Go for the ETFs or add another dividend stock? Or, even more exciting, do both? 🙂