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  5. FTS: Hi 5i, I currently use my TFSA as my primary investment vehicle. [Fortis Inc.]
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Investment Q&A

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Q: Hi 5i,
I currently use my TFSA as my primary investment vehicle. As such, I've been trying to keep it as diversified as possible which has resulted in purchase of both growth stock and dividend stocks across various sectors. Examples of the dividend stocks include: TD, FTS, and T.

I am close to maxing out my contribution for the TFSA and now find myself in a bit of a pickle as I want to move out the dividend stocks in favor of growth names.

My plan now involves:
- selling the dividend positions in the TFSA
- opening a new RRSP account and re-buy these same dividend stocks
- redeploy the 'freed-up' cash within my TFSA into growth names

1.) Are there obvious pitfalls you can see with this strategy? I can't see any issues other than being a little clunky in execution.
2.) What are your current top-5 growth names (regardless of sector)

Thanks,
Kyle

Asked by Kyle on October 21, 2021
5i Research Answer:

We see no issues, as long as the RRSP contribution limits are followed. In the example no money is leaving the TFSA so one does not need to wait unti January 2 before re-contributing. For Canadian growth we would suggest: BYD, BAM.A, GSY, LSPD, ATZ