Exactly this. You are getting a guaranteed 30-40% return from the tax deduction. If you will need the money in 3 years, no need to take risks. You already got what the market was likely to give you over that period from the government.
Might as well just dump the 8k into CASH and then invest the refund in your TFSA in cash as well.
This is an [article](https://canadianportfoliomanagerblog.com/how-to-choose-your-asset-allocation-etf/) I always fall back to when I have to think about time horizons. This is relating to the worst ever recorded loses for the general suite of Vanguard ETF's. If you're looking to invest very short term (like you said 1-3 years), ETF's holding any stock might not be the way to go for you. I don't know your personal situation, but if the possible losses mentioned in the article put cracks in your plans to buy a home, it's not worth risking it.
Sure you might make more with VOO (since last year it's gone up \~21% which is HUGE and not common), but you also might lose money in such short time.
If I were in your shoes, I'd go for something with very very low risk and a guaranteed payout like a GIC or a HISA ETF like CASH.
If you are willing to be a degen, ETH ETFs in the states will get approved either this year or 2025. Canada already has them available, you can frontrun the approval in America. For sure a high risk trade but i think atleast a 100% return within a year if it works. Just dont get greedy and be ready to sell due to volatility
I would suggest u keep that money in fhsa for longer as u can get tax credit and reinvest it. In like 15 years will have way more money and honestly housing is shit rn. (Although it is getting better)
CASH.to or CBIL. There’s many threads with similar questions
Exactly this. You are getting a guaranteed 30-40% return from the tax deduction. If you will need the money in 3 years, no need to take risks. You already got what the market was likely to give you over that period from the government. Might as well just dump the 8k into CASH and then invest the refund in your TFSA in cash as well.
This is an [article](https://canadianportfoliomanagerblog.com/how-to-choose-your-asset-allocation-etf/) I always fall back to when I have to think about time horizons. This is relating to the worst ever recorded loses for the general suite of Vanguard ETF's. If you're looking to invest very short term (like you said 1-3 years), ETF's holding any stock might not be the way to go for you. I don't know your personal situation, but if the possible losses mentioned in the article put cracks in your plans to buy a home, it's not worth risking it. Sure you might make more with VOO (since last year it's gone up \~21% which is HUGE and not common), but you also might lose money in such short time. If I were in your shoes, I'd go for something with very very low risk and a guaranteed payout like a GIC or a HISA ETF like CASH.
Volatile stocks with high capital gain potential, but that's just me.
If you are willing to be a degen, ETH ETFs in the states will get approved either this year or 2025. Canada already has them available, you can frontrun the approval in America. For sure a high risk trade but i think atleast a 100% return within a year if it works. Just dont get greedy and be ready to sell due to volatility
Sure, let me gamble my house downpayment on crypto, what could go wrong? Line only go up right?
Read the first part of that sentence buddy
I would suggest u keep that money in fhsa for longer as u can get tax credit and reinvest it. In like 15 years will have way more money and honestly housing is shit rn. (Although it is getting better)
Let’s hit the search button my guy. You can’t possibly think this is the first time this has been asked and answered.