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Saltin posted:It's just boilerplate financial advice. Not worth reading any more into it than that. In a climate where most people use a TFSA as an actual savings account, if at all, paying the mortgage off early is a fine strategy. The truth is that most people take a mortgage that equates to the maximum payment they can afford, so it's moot anyhow. I'm not surprised by this, I just wanted to make sure I wasn't prioritising my spare money allocations incorrectly. And wanted to call out some shoddy finance journalism. Obviously most people would be better off putting money onto their mortgage than onto a luxury vehicle loan, so there's that. Us BFC min-maxers may find better places for the money though.
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Jul 31, 2014 02:58
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So, who's in energy here? I know I am (through my advisor). https://businessincanada.com/2014/07/30/suncor-energy-q2-earnings-results/ quote:Suncor Energy (SU), Canada’s largest energy company, released its second-quarter results at 10:00pm (EDT). I think this is really significant, because Canada's economy is otherwise poo poo except for Alberta's herculean growth.
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Jul 31, 2014 04:30
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Meh. I've most divested into index etfs but still have Suncor as an individual equity in my standard investment account. As of today still showing +42% from my buy and even up today. I guess write downs appease the investors.  slidebite fucked around with this message at 06:16 on Jul 31, 2014 |
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Jul 31, 2014 06:14
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Questrade seems to have changed some things. It looks like there are now commissions on ETF purchases (surprise! Unless I read something incorrectly on an order because their site still advertises free purchases) and you can only buy and sell in multiples of the board lot amount whereas before you could buy or sell any amount. So, how do I find out the board lot amount for certain ETFs? It doesn't seem to be 100. And if it is 100 how do I buy/sell, say, ten shares?
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Jul 31, 2014 14:37
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Grouco posted:I currently live in Alberta, and will have $48,600 taxable income this year. I'm enrolled in my companies ESPP for a 10% gross contribution, with 50% matching, for a total monthly contribution equalling $562.50. The ESPP purchases are made in an RRSP. The only options for the ESPP are RRSP or taxable. Afaik, if you make the contribution, you need to claim the deduction. Depending on your salary growth expectations, you could make an argument for leaving the ESPP in your taxable account and then using the RRSP contribution in later years when your income is higher, however you'd need to assume your income grows pretty quickly for it to be worth it.
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Jul 31, 2014 14:43
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tuyop posted:Questrade seems to have changed some things. Not sure what you are seeing as I was able to buy 1 share of ZEB with zero commission. 
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Jul 31, 2014 15:24
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So NewsTalk 1010 was discussing the new ORPP being rolled out by the OLP (2017 is the start date), and just making GBS threads all over it. "Forcing people to save" (how terrible!), "People need that money for gas and stuff" (... okay?), and just treating it like it will be a huge hardship while we are being further coddled by the nanny state. Between the numbers they were giving and looking up a few articles, I have been able to glean (and please correct me if I'm wrong): - if your employer does not have a private retirement saving plan in place, people earning <$90,000 will be contributing 1.9% of their income, to be matched by the employer. - the plan intends to pay out 15% of your income/year when you retire. So, using a $45,000/year income, you would be expected to pay $788/year (or $66/mo) into the plan. The argument "but poor people spend all their income!" seems moot, because those people earning less (say, $20,000/year) would only contribute $33/mo. Which could still be a hardship, but they were using the $66/mo as a catchall for everyone without considering salary. Now, assuming someone was 20 and made $45,000 for 40 years, they would pay in $788 x 40 = $31,520 total. The employer would match them, so it would be $63,040 for your working life. Taking 15% of that $45,000, you'd get $6,750/year from the government (on top of CPP and maybe OAS). That would mean, after 4.7 years, you'd get out what you put in (I believe they said it would be inflation adjusted, so everything in real dollars). I dunno - sounds like a great deal to me as a contributor? I can obviously see the downside for businesses, and I'm not sure how the math works for the pension to be paying out so much for so little invested by the average contributor, but assuming it doesn't lead to massive layoffs or the whole pension going tits up, won't it overall be a good benefit? I've been lurking a while and have been using the advice to get my investments sorted (I wish I had found this thread 8 years ago, but can't change the past so it's time to double down on investing enough for retirement and putting the money in funds that don't hose you with big MERs). Once I've got everything under my control I'm sure I'll be in looking for advice.
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Jul 31, 2014 16:38
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Kal Torak posted:Not sure what you are seeing as I was able to buy 1 share of ZEB with zero commission. Yeah it's pretty strange how this is happening. I think I was trying to make the wrong kind of trade or something. What were the specifics of your order? Just a market buy?
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Jul 31, 2014 16:45
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tuyop posted:Yeah it's pretty strange how this is happening. I think I was trying to make the wrong kind of trade or something. Limit at 24.00 as I didn't actually want the trade to execute (it was trading 24.20 at the time). But it was approved and went through to the exchange.
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Jul 31, 2014 16:57
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Aagar posted:So NewsTalk 1010 was discussing the new ORPP being rolled out by the OLP (2017 is the start date), and just making GBS threads all over it. "Forcing people to save" (how terrible!), "People need that money for gas and stuff" (... okay?), and just treating it like it will be a huge hardship while we are being further coddled by the nanny state. Personally, I hate all forced retirement or savings plans. People should be responsible for making sure they aren't broke in retirement. I wish even the CPP were optional. Unfortunately, people are stupid and I understand why this stuff is required. I just wish I could opt out.
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Jul 31, 2014 16:58
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tuyop posted:Questrade seems to have changed some things. If that's the case, aren't they kind of shooting themselves in the foot? There are now quite a few decent discount brokerages to use in Canada with flat $<10 trades.
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Jul 31, 2014 18:31
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Kal Torak posted:Personally, I hate all forced retirement or savings plans. People should be responsible for making sure they aren't broke in retirement. I wish even the CPP were optional. I totally agree. I'd be fuming if I lived in Ontario.
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Jul 31, 2014 19:36
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Lexicon posted:I totally agree. I'd be fuming if I lived in Ontario. I am now (I think). I just ran my hypothetical $45,000/year employee to their logical conclusion (starting at age 20 and working until 65): A) Pay $800/year, get $6,750/year after retirement. B) Invest $800/year (ETFs). Over 45 years expect 5% real return (after inflation). That $800/year becomes $127,760 (if I did the math correctly, compounding yearly for simplicity). If you assume they withdraw $6,750, but are still earning 4% on their investment, they would still have $60,000 of the principal at age 90. I don't know - all you can say for option A is that it's safe? You might hit a bear market when you retire and lose a lot of your principal in option B. Otherwise the obvious choice is option B. I'm almost through reading "The Four Pillars" and have also read Carrack's "Guide to What's Good, Bad and Downright Awful in Canadian Investments Today" and a few other (less memorable) books on the subject. I still stumble on the math, so correct me if I screwed something up in option B.
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Jul 31, 2014 20:05
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slidebite posted:If that's the case, aren't they kind of shooting themselves in the foot? There are now quite a few decent discount brokerages to use in Canada with flat $<10 trades. Right. Which is why they wouldn't do that and haven't done that. Tuyop shouldn't be trading when drunk, that's all.
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Jul 31, 2014 20:47
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Aagar posted:So NewsTalk 1010 was discussing the new ORPP being rolled out by the OLP (2017 is the start date), and just making GBS threads all over it. "Forcing people to save" (how terrible!), "People need that money for gas and stuff" (... okay?), and just treating it like it will be a huge hardship while we are being further coddled by the nanny state. At the surface it just sounds like a supplemental provincial CPP. Government takes money now in the expectation you'll get money later. I would love to opt out of CPP and EI though.
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Jul 31, 2014 20:59
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reflex posted:At the surface it just sounds like a supplemental provincial CPP. Government takes money now in the expectation you'll get money later. EI is trickier because it's an insurance scheme and there's more of a public interest in having it (I still don't like it though), but for CPP it seems uncontroversial to me that opt out should be allowed for those who can show they are saving otherwise. Especially since their costs are approaching 1%. I can invest for myself and my family way cheaper than that.
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Jul 31, 2014 21:39
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You can opt out of EI I think, I don't pay into it and I don't receive it. I didn't know either until I paid a year's worth of EI premiums to CRA when doing my tax returns and got a cheque back for the amount I paid along with a letter explaining that I wasn't registered for EI, and if I wanted to I could register, but didn't have to.
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Jul 31, 2014 23:27
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Kal Torak posted:Right. Which is why they wouldn't do that and haven't done that. Well it WAS like 5:45 in the morning when I was trying to do this, so I'll try again when awake. Edit: oh god why did I short google?!
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Jul 31, 2014 23:57
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Welp, just finished maxing out my TFSA from zero in about 7 months. The transactions just posted and markets are hella down so it's time to buy buY BUY!  
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Aug 1, 2014 00:22
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HookShot posted:You can opt out of EI I think, I don't pay into it and I don't receive it. That's only if you are self-employed.
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Aug 1, 2014 00:29
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Kal Torak posted:That's only if you are self-employed. Oh ok, yeah, I am so that explains it. I figured it was something anyone could do.
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Aug 1, 2014 00:57
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HookShot posted:Oh ok, yeah, I am so that explains it. I figured it was something anyone could do. No, there's an employer portion as well at 1.4x. They don't want to give up those premiums.
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Aug 1, 2014 03:24
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Kal Torak posted:No, there's an employer portion as well at 1.4x. They don't want to give up those premiums. Interesting, I thought self employed people paid both premiums, like we do with CPP.
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Aug 1, 2014 04:28
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HookShot posted:Interesting, I thought self employed people paid both premiums, like we do with CPP. Nope, self-employed don't pay the employer portion for EI when they opt in. Also, once you claim any kind of benefit, you can never again opt-out.
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Aug 1, 2014 05:06
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Kal Torak posted:Nope, self-employed don't pay the employer portion for EI when they opt in. Also, once you claim any kind of benefit, you can never again opt-out. Oh ok, yeah, that second part makes sense since I imagine otherwise you'd have a ton of people trying to screw the system. I would have thought self employeders pay both portions though, interesting that they don't.
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Aug 1, 2014 15:35
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If anyone is curious, RBC Direct Investing gives you a poo poo-ton of free trades for new accounts. I've done at least 20 transactions with them between 5 accounts and have had every single trade fee refunded at the end of the month. Also been told I'm now a member of Royal Circle (whatever the hell that means) but gives us preferred discounted rates through their insurance division. Might get a couple home and auto quotes just to see how good they are.
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Aug 2, 2014 16:57
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Kal Torak posted:Personally, I hate all forced retirement or savings plans. People should be responsible for making sure they aren't broke in retirement. I wish even the CPP were optional. If Canadians are made responsible for saving for their own retirement, you'll have millions of broke, impoverished retirees who'll be on social assistance. I know how cynical this sounds, but most people simply can't be trusted to save their money in any sort of structured, disciplined way. It's either forced savings, or we watch millions of Canadians go on welfare. melon cat fucked around with this message at 18:23 on Aug 2, 2014 |
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Aug 2, 2014 18:15
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melon cat posted:Therein lies the problem, though. Canadians are notoriously bad at saving money for the long-term. Most people I've spoken with all rely on CPP/OAS as their main source of retirement income. This is really bad because it's intended to supplement retirement income, not replace it. And if you have the audacity to suggest long term savings they roll their eyes at you and tell you that the equity in their primary residence will (somehow) fund their retirement. It gets even more ridiculous- a recent poll suggests that ~30% of Canadians consider winning the lottery for their retirement plans. I agree. Which is why I said people are stupid and I understand why these plans are required. You deleted that part from my quote though. 
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Aug 2, 2014 20:12
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So I just got my first job in the field I studied for (also my first above minimum wage job) and am considering putting money into ETFs with Vanguard. Do I need to be a Canadian citizen to do this? I'm only a resident (and US citizen) atm. Ervin K fucked around with this message at 09:21 on Aug 3, 2014 |
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Aug 3, 2014 03:35
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Only residency matters. I'm Canadian but I didn't get contribution room in 2012 because I was living and working in the UK from Sept 2011 to Sept 2013. You get the full contribution room for years in which you were only resident for part of the year, though, it's not pro-rated.
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Aug 3, 2014 03:41
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Eh, nevermind.
Ervin K fucked around with this message at 08:44 on Aug 3, 2014 |
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Aug 3, 2014 08:23
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tuyop posted:Questrade seems to have changed some things. Ok, so attempt 2.   Looks like there's a commission on both these types of buys. VCN is an ETF, so what gives?  And I've bought ZRE without a commission before so I don't know what gives there.
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Aug 5, 2014 14:54
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No idea. Ask them. And why are the commission amounts so small?
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Aug 5, 2014 15:18
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Kal Torak posted:No idea. Ask them. They're ECN fees! Dude from Questrade posted:Thank you for contacting Questrade, I will be happy to help you with this. So yeah, I don't know why my orders of like 30 shares are removing liquidity but this is obviously something I should learn more about!
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Aug 5, 2014 21:24
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tuyop posted:They're ECN fees! Ah, yes. That was discussed earlier in the thread. Just don't buy on the ask. Put in a limit below the market and wait to get filled to avoid those.
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Aug 5, 2014 21:29
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Kal Torak posted:Ah, yes. That was discussed earlier in the thread. Just don't buy on the ask. Put in a limit below the market and wait to get filled to avoid those. And watch your order sit as the stock goes up all day.
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Aug 6, 2014 05:32
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Grouco posted:And watch your order sit as the stock goes up all day. Not for this past week  I checked my transaction history and it looks like they've always charged the ECN fees is, now its just obvious and listed as part of the transaction price.
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Aug 7, 2014 04:01
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Ahh yes I think there was a regulation change that forces them to show such things now. TD had a warning about that recently.
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Aug 7, 2014 11:31
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So I just set up a TD Direct Investing account to manage my TFSA myself using TD e-Series funds. My asset allocation calls for 20% bonds, and I was wondering if you guys had a recommendation for a fund. Should I be sticking to domestic bond funds like the e-series TDB909 to avoid currency-related risks, or would it make more sense to have a total bond market exposure using a fund like iShares Global Inflation-Linked Bond Fund?
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Aug 7, 2014 19:03
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Rhobot Mk. II posted:So I just set up a TD Direct Investing account to manage my TFSA myself using TD e-Series funds. My asset allocation calls for 20% bonds, and I was wondering if you guys had a recommendation for a fund. Should I be sticking to domestic bond funds like the e-series TDB909 to avoid currency-related risks, or would it make more sense to have a total bond market exposure using a fund like iShares Global Inflation-Linked Bond Fund? http://canadiancouchpotato.com/model-portfolios/ Trying to hold international bond funds runs in to currency hedging issues. TDB909 is probably fine for your needs.
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Aug 7, 2014 20:32
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