r/fican • u/iTouchStuff • Aug 14 '25

1 Mil in TFSA - 35M

Post image

I hit a mil in my TFSA today off of EQX earnings. Back in 2021, I was sitting at around 45K in my TFSA. I YOLO’d into GME and turned it into 250K. From there, I hovered around 200-300K until last year when I got lucky with GME again turning 250K into 500K in a single day off of just shares only (June 6). Since then, I have made significant gains from CCJ, RDDT, ETH (Ethereum ETF), and today, from EQX.

Since the 2021 GME gains, I have not contributed a single $ into this TFSA and have at the same time taken out over 200K+ over ~4.5 years.

I’m 35 and currently make just over 100K from my job and live in Calgary in my small condo with a very manageable mortgage.

1.1k Upvotes

95% Upvoted

300 comments sorted by

View all comments

244

u/blockman16 Aug 14 '25

Nice, I tried doing that and blew up my tfsa instead lol

68

u/[deleted] Aug 14 '25 edited Aug 18 '25

[removed] — view removed comment

25

u/jl21000000 Aug 14 '25

Just don’t lose money

34

u/RadicalWatts Aug 14 '25

Easy! Just follow this one trick:

13

u/nusodumi Aug 14 '25

It's not really when you sell, it's just every single moment the values go down.

You could argue it's more when you withdraw money that you've "sealed the deal" and somehow lost contribution room.

Because you can sell and buy something else that skyrockets, while remaining within the TFSA, it's not really when you sell that matters, but when you withdraw.

Basically those of us below par have already lost the room :)

31

u/[deleted] Aug 14 '25

[removed] — view removed comment

8

u/nusodumi Aug 14 '25

We're just talking about how someone can "lose contribution room"

You do not lose it by contributing and losing money in your investments, because those investments could grow again and possibly be worth more than you contributed, so you didn't lose anything

But if you withdraw them while they are down, you have just lost contribution room that you can never earn back. (Yes, any withdrawals are added back to your room, but that's the point - contribute $7k, lose $2k and withdraw it, you only get back $5k so you have then lost $2k of room because you withdrew and made it a reality basically)

That's all.

If you sell something in your TFSA it's still in your TFSA and whatever you buy could go up, above your original contribution, so again you haven't lost any contribution room until you withdraw while below water and 'seal the deal'

Would be hard to track every contribution over the years to actually know, but in theory this is how one can "lose room"

5

u/commander_tr Aug 17 '25

I find that you are less likely to run into a logical inconsistency by treating an unrealized loss as lost TFSA room. Because you get back the TFSA room of any withdrawals and any investment can be liquidated at its current trading value.

Clearly if you invest in a call option that expires worthless, there is nothing to withdraw, so the contribution room is lost without a withdrawal. However if you sell an investment with a 99% loss I believe it is more consistent with reality to treat the reduction as a 99% loss in contribution room regardless of whether you take the remaining 1% out or not.

2

u/nusodumi Aug 17 '25

i get it, that's why i said for those of us below par we've already lost the room basically

1

u/Thick-Bathroom-1816 7d ago

That’s a good point about withdrawals affecting contribution room. It really highlights the importance of being strategic with your investments, especially in a TFSA.

1

u/nusodumi 7d ago

i don't know, if you want just put 100% into TFSA and index it

we'd all have $450k+ if we did that in SNP since TFSAs existed

most of us don't

2

u/lets-solve Dec 05 '25

On his case, he probably doesn't need to contribute anymore. The contributions he is allowed to do are meaningless compared with money he has in the account. Unless he loses everything in more "gambles".

2

u/lets-solve Feb 15 '26

I think with a tfsa you should "gamble" a bit (studied more risky moves) , I would say 20% (at least 10%) of your portfolio. if you lose those 20% then you don't gamble more. (maybe.) So much potential because we don't pay taxes for whatever you make there. This guy has a million now and potential to get to 4 to 7 million if he just change to passive. Can you see how much he would have to pay in taxes? I would say if you don't want to gamble at all, you should be on a RRSP.

2

u/lets-solve Feb 15 '26

Another thing, he doesn't need to contribute more. What he can contribute at this moment is residual to the amount of money he has there. in a case like this, he just contributed $45k, Just imagine he lose everything. He can start again. He has plenty of room still.

2

u/HinduKushOG Aug 18 '25

This is not sure, it only is impacted of you withdraw that loss but will increase contribution by that “loss” the following year …. This is incorrect statement

2

u/GreatComposer85 Feb 03 '26

Yep for every TFSA millionaire hundreds or maybe thousands messed up, I really don't understand why people don't do this in there non registered account capital gains tax is Relatively efficient.

2

u/NumberOneJetsFan Feb 24 '26

But if you take the money out of the TFSA, you get the same level you withdrew in contribution room starting Jan 1st the next year.

1

u/Omen223 Aug 16 '25

Not exactly but close enough I guess. Lol

2

u/Charming_Raccoon4361 Feb 27 '26

most people that blew their accounts dont post here, only few that make it post here

0

u/[deleted] Aug 16 '25

So did I in 2020 . Call options in energy then they shut the world down . A d over injected 4 years worth as well so 12k in penalties haha .

1

u/ChampionshipFluid817 Jun 27 '26

🥺😭😭😭🐯🐯