Hi team,
I am a Canadian and finishing up fellowship here in USA and plan to stay.
So far, all I have been doing is the roth IRA for my wife and I. Starting attending job next year. Planning to max my 401k, pay off the rest of my loans aggressively (120k with 3.4 interest - I know its low interest but I hate the loan : also Canadian dollars, so exchange rate has been awesome), and save for down payment for a house.
However, i came across TFSA and wondering if anyone has experience with it. The maximum limit is 52,000 dollars and apparently can put the whole 52k in at one time.
Now with this information, I am thinking of prioritizing the TFSA after the 401K.
I am curious if this will mess with my USA tax and if it is a good idea to mix Canada with USA at all.
I am a Canadian and finishing up fellowship here in USA and plan to stay.
So far, all I have been doing is the roth IRA for my wife and I. Starting attending job next year. Planning to max my 401k, pay off the rest of my loans aggressively (120k with 3.4 interest - I know its low interest but I hate the loan : also Canadian dollars, so exchange rate has been awesome), and save for down payment for a house.
However, i came across TFSA and wondering if anyone has experience with it. The maximum limit is 52,000 dollars and apparently can put the whole 52k in at one time.
Now with this information, I am thinking of prioritizing the TFSA after the 401K.
I am curious if this will mess with my USA tax and if it is a good idea to mix Canada with USA at all.
Comment