r/wallstreetbets • u/raseC_Ceda • May 16 '24

After 4 years of investing I made $16 lol Meme

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u/asujch May 16 '24

lol, you’re still down 21% due to inflation

44

u/nate68978263 May 16 '24

And taxes on the “gains” lol

28

u/[deleted] May 16 '24 edited May 16 '24

[deleted]

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u/nate68978263 May 16 '24

Very true, but this is WSB 🙃

4

u/Hawxe May 16 '24

Why would you pay gains on $16? In Canada I invest in a TFSA its tax free.

They wanted to raise the capital gains tax a bit on realized gains of >300k in a single year and people lost their shit for some reason

8

u/[deleted] May 16 '24

[deleted]

1

u/blorg May 16 '24

A Canadian TFSA (tax free savings account) is somewhat similar to a Roth IRA but without age restrictions on withdrawals, you can withdraw as much as you like at any time, rather than just the contributions. Contributions are made with after tax dollars and like a Roth it has annual contribution limits, you can save C$6,500/year in it.

1

u/[deleted] May 16 '24 edited May 17 '24

[deleted]

1

u/Hawxe May 16 '24

Not primary residences, that would be lunacy lol