With respect to TFSA, time is of the essence. This year, I maxed out my TFSA on January 3, and invested 7100 dollars back into a high dividend yield Canadian ETF. How did I go above the 5500 limit? Easy. Dividends throughout last year. We had about 1500 in dividends last year in the TFSA. As I get the dividends, I dump them in TD e-series index funds. Then in January, I sell the index funds and re-invest them in a high yield Canadian ETF. 

Be patient. Over time, that 5500 contriubtion limit for the TFSA will mean nothing as you re-invest your dividends.