Garry Marr: Borrowing to fund your TFSA or RRSP is tempting — but is it worth the risk? [Yahoo! Finance Canada]
Royal Bank Of Canada (RY)
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Source: Yahoo! Finance Canada
seem tempting at this time of year, as promotions abound, especially for RRSP loans. But does it actually make sense? The answer depends on which plan you are targeting, how much you expect to make on investments, your appetite for risk and how disciplined you are in paying off the loan. With TFSAs, if you invest wisely, your returns could outstrip your borrowing costs. For example, if you had borrowed $7,000 (the annual limit) to max out your TFSA in 2025 and invested it in an exchange-traded fund (ETF) tracking the big six Canadian bank stocks, you could be sitting on a roughly 43 per cent total return, outweighing a borrowing cost of a little above prime, or around five per cent. Of course, taking out a loan to contribute to your TFSA is really just leveraged investing: it increases risk and could magnify any investment losses, as well as gains. Ultimately, you are betting that your expected after-tax investment return will exceed the loan's interest rate. There are no figu
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