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Ahh, nice, so as long as the total for all of them is $5500 it's acceptable. Good to know.
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May 27, 2014 19:54
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Rime posted:Ahh, nice, so as long as the total for all of them is $5500 it's acceptable. Good to know. Total contribution per year anyways. If you turned 18 in 2009 or earlier, and have yet to contribute anything to a TFSA, your limit is 31,000. Going to take me a few years to catch up.
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May 28, 2014 01:51
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Went into TD and opened my self directed brokerage account! In a few days I will officially be investing money in things.
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May 28, 2014 04:49
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It's been a slow process but I'm opening my TD DI account Monday. Hoping to transfer my money from CIBC and Edward Jones so I can finally stop paying high management fees (EJ) and actually make some interest off my money (EJ, CIBC). I think TD will also reimburse me for any fees I'm charged for transferring my money out. I was only 19 when I opened my Edward Jones account and I didn't know anything about anything. 25 now, and understand the fee structure. Brutal.
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May 31, 2014 13:20
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HookShot posted:Went into TD and opened my self directed brokerage account! In a few days I will officially be investing money in things. I opened a new LIRA with TD as well. Just a holding account for now, once the money gets there (next week???) I'll switch it over to eseries and use a CCP allocation. The RRSP money should be going to QT if they can loving manage having money deposited into an account. 
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May 31, 2014 16:58
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Having a TD Waterhouse account for your TFSA is awesome and I can't recommend it highly enough. Even beyond e-Series, which is the best, their web portal is great and you can easily pick up individual equities with your 5% of portfolio "screwing around money". Just don't buy U.S. equities without first transferring USD into your account, the conversion fees are abominably bad. Franks Happy Place fucked around with this message at 17:05 on May 31, 2014 |
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May 31, 2014 17:01
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Franks Happy Place posted:Having a TD Waterhouse account for your TFSA is awesome and I can't recommend it highly enough. Even beyond e-Series, which is the best, their web portal is great and you can easily pick up individual equities with your 5% of portfolio "screwing around money". Sweet, thanks for the tip. Anyone know how long it takes for a transfer from your bank account to your web broker account? I just did the transfer, wondering if I'm waiting hours or if I'm waiting days.
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May 31, 2014 19:16
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TD just about used up every minute of the 15-20 business day period before the transfer completed. For reference, I mailed in my Questrade transfer application on 10 Jan. They rec'd it 14 Jan, made the request to TD the same day. Funds were available to use in my new account on 14 Feb. e. yeah looks like i misread the question, oops. vvvv Guest2553 fucked around with this message at 20:02 on May 31, 2014 |
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May 31, 2014 19:31
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HookShot posted:Sweet, thanks for the tip. I recall it was pretty quick, but this being the weekend who knows. TD is generally pretty good at working on weekend, especially Waterhouse, but it might not happen till Monday. Edit: I read this as you asking how long it takes to connect your TDW web broker access to your main TD account, to clarify.
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May 31, 2014 19:31
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Sorry guys, no, the web broker access is connected to my account, I just went to move some money from my chequing account to the web broker account using the "Make a Transfer" option in EasyWeb. I'm just curious if that will be done on Monday, or a few hours, or longer than that?
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May 31, 2014 20:30
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HookShot posted:Sorry guys, no, the web broker access is connected to my account, I just went to move some money from my chequing account to the web broker account using the "Make a Transfer" option in EasyWeb. I'm just curious if that will be done on Monday, or a few hours, or longer than that? Oh, then my above post still applies. Probably Monday.
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May 31, 2014 20:35
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Franks Happy Place posted:Oh, then my above post still applies. Probably Monday. Cool, thanks 
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May 31, 2014 20:38
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HookShot posted:Sweet, thanks for the tip. Confirming it's next business day, usually.
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May 31, 2014 22:00
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Kalenn Istarion posted:Confirming it's next business day, usually. My experience with Waterhouse is similar. Everything happens on and around 12:00am M-F. This includes recalculating your balances based on securities price changes, paying dividends, etc. Transfers from account to account within TD Canada Trust are instant, excepting credit card which takes a few days (paying off a balance).
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Jun 1, 2014 13:37
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Rick Rickshaw posted:I was only 19 when I opened my Edward Jones account and I didn't know anything about anything. 25 now, and understand the fee structure. Brutal.
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Jun 1, 2014 15:59
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slidebite posted:My folks are invested with Edward Jones (relative of my stepdad works there) and I am sure they're paying out the nose in fees. Can you tell me what their fee structure is like? The answer is that it varies. It depends on what service they have, how actively they trade, how much money they invest, and so on. What's more important overall is that their advisor isn't trying to push them into lovely funds or trade excessively because he's got volume-based fees or specific incentives for internal funds. You'd need to get more information about that to know for sure. Since Edward Jones is a full service advisory shop it's found to be more than a discount brokerage, but for many that's the right kind of product. I'm personally at a point where my time is limited enough that loving around with my portfolio is taking time away from playing with my kids so I've looked into switching to a managed solution a few times. Not quite there yet, but getting pretty close. If I did it I would go fee-only and joint discretion (he can make trades but so can I). The advantage is that a good advisor will get access to investments that average joe investor just won't see (private placements in start-ups for example) that can have very good returns when done intelligently.
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Jun 1, 2014 17:01
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slidebite posted:My folks are invested with Edward Jones (relative of my stepdad works there) and I am sure they're paying out the nose in fees. Can you tell me what their fee structure is like? I pulled into my driveway the other day and an Edward Jones guy was leaving my neighbours and walked over to me to talk about my investments. He is opening a new place in the neighbourhood I guess. Seemed like a good guy, but after speaking to him for about 3 minutes he said "sounds like you have things in hand" and went looking for a different victim. Fee structure aside, I don't think there is anything an investment advisor can do for the average person that an index and 30 minutes of reading up on diversification/balance cannot. Saltin fucked around with this message at 18:58 on Jun 1, 2014 |
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Jun 1, 2014 18:54
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Saltin posted:I pulled into my driveway the other day and an Edward Jones guy was leaving my neighbours and walked over to me to talk about my investments. He is opening a new place in the neighbourhood I guess. Seemed like a good guy, but after speaking to him for about 3 minutes he said "sounds like you have things in hand" and went looking for a different victim. Fee structure aside, I don't think there is anything an investment advisor can do for the average person that an index and 30 minutes of reading up on diversification/balance cannot. I guess my point is that there's a depressingly large chunk of the population for whom that is either too difficult or too much effort. In my case I'm only considering it because I happen to know one of the good ones personally so that he'd likely take me on in spite of not really be in his size bracket. Not something where I'd walk into an office and take whichever junior advisor they tried to foist on me.
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Jun 1, 2014 20:08
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Kalenn Istarion posted:I guess my point is that there's a depressingly large chunk of the population for whom that is either too difficult or too much effort. I tried to make investments at several institutions before I discovered the TD Waterhouse self-directed TFSA. Part of what spurred me to do the research that led me to TD was a meeting with a financial planner who did not give two shits. He couldn't even pretend to be interested. I asked him what kind of options were available and he rattled off the names of several mutual funds and then when I asked him for more information he literally printed out the web profile for *one* of them and handed that to me. He must have been my age or even younger so I can't imagine he was pushing around millions, living off that sweet MER. After my experience with that clown I became far more interested in finding *other options*. Ignorance is part of the problem; a lot of people just don't know the first thing about finance and/or the financial world. A bigger part of the problem is the financial community does not care to educate anyone. The moment I learned about self directed investing and investing fundamentals the guy I met with became laughably uncompetitive.
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Jun 2, 2014 01:16
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ductonius posted:Ignorance is part of the problem; a lot of people just don't know the first thing about finance and/or the financial world. A bigger part of the problem is the financial community does not care to educate anyone. The moment I learned about self directed investing and investing fundamentals the guy I met with became laughably uncompetitive. Yup. If it wasn't for the ignorance and laziness around finance that the overwhelming majority of the population has, 90% of the industry has no reason or ability to exist. I struggle to think of another industry so thoroughly incentivized to have a totally ignorant customer base.
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Jun 2, 2014 01:45
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So how do you guys feel about the TD e-series bond fund? It's currently the best performing thing in my portfolio by a retarded margin, but everyone is like "Canadian bonds are super risky yo". 
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Jun 2, 2014 01:51
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Rime posted:So how do you guys feel about the TD e-series bond fund? It's currently the best performing thing in my portfolio by a retarded margin, but everyone is like "Canadian bonds are super risky yo". Everyone disagrees about portfolio makeup, so this is like asking "hey guys, what's the tastiest beer?" I personally wouldn't touch Canadian bonds with a ten foot pole, while others use the couch potato blend that has a fair sized bond stake. A chacqun son gout.
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Jun 2, 2014 02:09
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Franks Happy Place posted:I personally wouldn't touch Canadian bonds with a ten foot pole I don't follow a whole lot of financial news and am just couch potato-ing my way to (hopeful) retirement in my 40s. What's up with Canadian bonds?
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Jun 2, 2014 02:31
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Guest2553 posted:I don't follow a whole lot of financial news and am just couch potato-ing my way to (hopeful) retirement in my 40s. What's up with Canadian bonds? If you read the Canadian Housing Bubble Thread you'll see a lot of guys who think our economy is about to collapse on the heels of the housing bubble bursting. If you believe that the housing bubble will burst, and that it'll bring our economy down, you'll want to avoid investing in Canada. But something needs to cause the bubble to burst... slidebite posted:My folks are invested with Edward Jones (relative of my stepdad works there) and I am sure they're paying out the nose in fees. Can you tell me what their fee structure is like? Ah, shouldn't have made it seem like I knew exactly what the fee structure is. I just know my investments didn't seem to be growing at all from 2008-2013. When I met with my guy he sheepishly admitted that fact. I can only assume all my growth was eaten by fees. Rick Rickshaw fucked around with this message at 03:43 on Jun 2, 2014 |
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Jun 2, 2014 03:10
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^ Yeah, that. I've only got a grand in bonds and my gut is telling me to keep it that way, but holy hell do they give a silly ROI on paper.
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Jun 2, 2014 03:18
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Rick Rickshaw posted:If you read the Canadian Housing Bubble Thread you'll see a lot of guys who think our economy is about to collapse on the heals of the housing bubble bursting. It's quite a few jumps of implication from 'Canadian housing' to 'Canadian bonds = bad' though, and that's without even getting into the whole market-timing discussion. edit: Roughly 20% of my portfolio is in VAB, for what it's worth.
Lexicon fucked around with this message at 03:43 on Jun 2, 2014 |
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Jun 2, 2014 03:41
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The answers above are part answers. The general hatred for Canadian bonds as an asset group is that they are illiquid and poorly diversified compared to US bonds. Only banks, utilities, and a few larger concerns (think bell, telus, rogers, the Bay, and a few others) have material amounts of public debt outstanding, and many larger Canadian corps issue in the US anyways due to the points I will note below. The concern that cdn bonds are tied to our real estate collapsing are more indirect issues stemming from concentration in financials than anything else. The lack of corporates mean that mortgage backed securities will likely comprise a larger proportion of any given Canadian bond fund relative to its US counterpart. In the US, the market is bigger, with far more diversified issuers, and there's a deeper and more sophisticated pool of debt investors available which makes for a healthier market. The deeper investor pool means that you can usually get better rates there even incorporating the cost of FX. Resource companies in particular almost always issue in USD as they've also got US dollar driven incomes to offset which means they can even save on the currency swaps. E: The comparison to euro / uk debt is similar although doesn't have quite the diversity of issuers that USD debt does due to a bias to private bank lending in Europe.
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Jun 2, 2014 05:30
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For those of you not investing in Candian bonds, what kind of vehicle have you used in their place? We have a non-insignificant exposure in VAB and some in XRB.
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Jun 2, 2014 05:45
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Remember guys, if you're investing in non-Canadian bonds, then they should be hedged. Currency volatility will destroy the stability that fixed income is supposed to provide. Doesn't seem like you can find CAD-hedged US govt bonds, so I guess you'd still have to hold a Canadian Govt bond ETF but instead of CAD Corporate bonds you could use some of XEB, XIG, XHY (and a few others are available from BMO) for corporate exposure.
rhazes fucked around with this message at 08:45 on Jun 2, 2014 |
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Jun 2, 2014 08:38
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rhazes posted:Remember guys, if you're investing in non-Canadian bonds, then they should be hedged. Currency volatility will destroy the stability that fixed income is supposed to provide. Doesn't seem like you can find CAD-hedged US govt bonds, so I guess you'd still have to hold a Canadian Govt bond ETF but instead of CAD Corporate bonds you could use some of XEB, XIG, XHY (and a few others are available from BMO) for corporate exposure. There's nothing wrong with Canadian govt bonds if you want to own AAA government bonds. Returns on them have tended to outperform the US a bit from memory and they do have a relatively liquid market. The issues are more to do with Canadian corporates. Agree you should be hedging your USD exposure if at all possible (it isn't always possible for many investors without a currency trading account or other intrinsic short exposure to the USD, in which case you need to bake in a USD outlook into your expected return and risk). UDN is (or was?) a short USD ETF (there's a triple levered version but don't use this; levered ETFs are really bad unless you daily rebalance and then they're still bad). I haven't looked in detail to see how well UDN correlates with usd moves so use with caution. Sometimes, it's also possible to execute short currency trades if you have separate usd and cad cash / margin accounts with a broker. With some, you can instruct them to transfer a certain amount of funds from the usd account to the cad account, with the source of the usd funds being a loan secured by the cad funds plus a bit for effective margin, creating an effective short on usd. To settle later you'd just transfer the funds back to the usd account at the then prevailing exchange rate. Both of these hedges decrease your effective returns; if you hedged your bond investment 1:1 with udn you'd effectively halve your return in a scenario where the usd doesn't move (twice the capital). Doing the transfer as noted above would require you paying whatever rate your broker would lend to you in usd, offset by any interest you get on the cad balance. If you have a margin account you can also use dual-listed stocks to make a (dirty) hedge which might be more capital efficient depending on your rates: Shorting USD: Open: Sell stock in USD, receive A USD Buy stock in CAD, pay A*FX CAD Close: Buy stock in USD, pay B USD Sell stock in CAD, receive B*FX2 CAD Since your net exposure to the underlying is zero, you're only exposed to the FX position. Theoretically, you'll make or lose money on the hedge only on the basis of the currency movements. In practice, the stocks won't move perfectly due to transaction costs, tax differences, and things as vague as market sentiment, which is why I called it a dirty hedge. While in this case you have no net exposure to the stock, so capital outlay is lower, you will need to pay some interest on the borrowed stock in US, and it's harder to match delta with you original investment that you're trying to hedge.
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Jun 2, 2014 09:37
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Does anyone here use People's Trust? I'm sick of Tangerine's 1.3% TFSA rate, and thinking of moving my emergency fund over to PT. 3% seems too good to pass up.
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Jun 3, 2014 04:18
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Grouco posted:Does anyone here use People's Trust? I'm sick of Tangerine's 1.3% TFSA rate, and thinking of moving my emergency fund over to PT. 3% seems too good to pass up. Anyone touring the world living off interest swears by them, from what I've read. Since they're a credit union out of Alberta, they are likely better diversified into sectors (such as oil) which would weather a downturn as well, unlike institutions such as VanCity which are eyeballs deep in sketchy real estate investments.
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Jun 3, 2014 04:23
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Rime posted:Anyone touring the world living off interest swears by them, from what I've read. Like, how deep?
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Jun 3, 2014 05:40
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Cultural Imperial posted:Like, how deep? Who, Vancity? Balls deep.
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Jun 3, 2014 05:54
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Franks Happy Place posted:Who, Vancity? i want names (of developments) yo
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Jun 3, 2014 06:37
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Cultural Imperial posted:Like, how deep? Hard to tell how much of it is 'sketchy' from the statements, but they have a bit under 1/2 their assets in residential mortgages and another 15% or so in commercial mortgages. The remaining third is in personal and commercial non-real estate loans. This isn't unlike many community credit unions, who for a long time were wholly uncompetitive in commercial lending due to restrictions and scale issues which meant they couldn't get close on price. Union central have helped this immensely. Where they may have more exposure than some is in their community-focused lending program, which has marginally more favourable lending criteria for developments which support local communities / social housing and the like. Their returns and reserves have been on the decline although are still broadly healthy, for a non-profit social credit union.
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Jun 3, 2014 06:40
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Cultural Imperial posted:Like, how deep? Several new branches have been in the ground floor of upscale low-rise condos which they funded. The Hastings & Gilmore branch for example. They don't have the horrific mismanagement of Coast Capital, but their asset exposure to the lower mainland bubble is quite extreme.
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Jun 3, 2014 06:50
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Thanks guys. So is this stuff cmhc protected? Also are deposits protected to the same extent as a regular bank?
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Jun 3, 2014 07:03
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Cultural Imperial posted:Thanks guys. The short answer is that some of the loans are likely insured, but I would need to read the statement notes to be sure how much. If you want to look they're here: https://www.vancity.com/AboutVancity/GovernanceAndLeadership/OurReports/. You'll need to look at both the md&a as well as the notes, and even then they might not disclose it. And re deposit insurance, BC credit unions are insured by CUDIC, not CDIC, and have better (unlimited) deposit protection relative to banks. http://www.cudicbc.ca If all you're worried about is funds on deposit while you're in Seattle you should be fine. E: investments generally aren't covered so if you've got a fund account it wouldn't be covered by CUDIC. This doesn't place you at direct risk as vancity shouldn't be borrowing against any client mutual fund accounts, for example. Kalenn Istarion fucked around with this message at 07:25 on Jun 3, 2014 |
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Jun 3, 2014 07:15
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Cool thanks
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Jun 3, 2014 07:35
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