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Franks Happy Place posted:If she won't listen to very simple, helpful, correct advice, just walk away. Yeah that's my thinking haha. Thanks ya'll
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Apr 16, 2015 18:29
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Switched to Tangerine banking after reading the ridiculous fee increases in RBC accounts. I was already getting my chequing account dinged for $4.00 a month after closing down my savings account to open up my Questrade one, but I finally broke free from the "it's only 4 bucks, I'll do it later" stupor after the recommendations here. As soon as my paychecks and tax credits hit Tangerine's account, bye-bye RBC. Now, I have to switch up my credit card, which is still linked to my RBC chequing account. Is Capital One still the go-to for the frugal and savvy Canadian saver? I barely use my CC as is, which means I'm probably missing out on a lot of rewards, because I pay everything by debit. I assume I should be using my CC more often, since I have zero debt and always pay what I owe on it?
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Apr 16, 2015 21:11
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Why is she not interested in e-series? I mean other than the months of paperwork and fuckups and people who don't know what they're doing. After that you're set.
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Apr 16, 2015 21:19
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Baronjutter posted:Why is she not interested in e-series? I mean other than the months of paperwork and fuckups and people who don't know what they're doing. After that you're set. This post made me realize that those fuckups and paperwork errors are entirely *on purpose*. They realized what they'd done by starting the e-series funds but can't just, you know, shut them down and hand everyone's money back, so they make getting access to them a gauntlet of inconvenience/incompetence.
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Apr 17, 2015 02:28
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I'm going to assume a 34% portfolio turnover rater is rather high.
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Apr 17, 2015 02:58
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Golluk posted:I'm going to assume a 34% portfolio turnover rater is rather high. Yes In the process of studying for my CFA I've seen some good research that reinforces just how bad active trading at almost any level (personal or fund) is (with a few exceptions, including selective tax loss selling in taxable accounts)
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Apr 17, 2015 03:22
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Franks Happy Place posted:They decided that instead of a free U.S. checking account as part of All-Inclusive, they'd only partially subsidize it from now on. So now each month, they take $5 USD out of that account, and then in a separate transaction they put $3 back in as a 'rebate'. Of course, since I only clear funds in and out of that account and never maintain a balance (let alone the $3500 USD minimum balance they now want), I get hit with an overdraft fee each time. And you can't even just leave $2 in there, because the initial $5 comes out first, which triggers the overdraft, which the $3 credit comes after. Totally just the stupidest thing. Funnily enough, they just raised the minimum balance on my husband's (regular CAD) account to $4k from 3.5k. We never got the notice in the mail, but whatever, my husband goes in to ask why he didn't get the rebate, the guy tells him that its 4k the minimum now and too bad so sad. So my husband's like "ummm what are my options?" and the guy tells him "well RBC is the only other bank in Whistler" (which isn't even true, we also have CIBC now!) I told a customer service guy about it and the guy was super apologetic and refunded my husband the fee and sent him an email to apologize about the bad customer service.
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Apr 17, 2015 07:02
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Welp, Questrade locked my account. No idea why, but if someone tried (or succeeded) in hijacking it, I hope that something can be done. It's poo poo that their offices are closed over the weekend, though. I have to wait a day and a half to contact them about security. EDIT: Apparently their new mandatory update not only hosed things up re: passwords and user logins, you can't even access your MyQuestrade or IQWeb or any apps without first accepting scripts from marketing companies like Optimize and Doubleclick.net. Fun times. Olive Branch fucked around with this message at 05:54 on Apr 19, 2015 |
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Apr 19, 2015 04:25
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That is a shame. Seems like stocks went on sale last week. I'm converting some cash into funds a bit early.
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Apr 19, 2015 21:52
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Nobody else mentioned it yet but  10k TFSA annual cap effective this year   
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Apr 21, 2015 23:18
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Guest2553 posted:Nobody else mentioned it yet but 10k limit is fine for me personally but makes me sad for society. I don't see how this is going to do anything but increase the wealth gap and lead to reduction in government services over the long term.
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Apr 21, 2015 23:37
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Yeah, as a poor with maxed out TFSA this is nice for me but I'm like the only person in my peer group I know with any sort of investments, let alone not still paying off student loans and poo poo in their 30's. I'd much rather have a lower cap and an actual developed-world level of social services and infrastructure. That's worth a hell of a lot more to me than how ever much I'll save on taxes on my TFSA.
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Apr 21, 2015 23:42
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Mantle posted:10k limit is fine for me personally but makes me sad for society. I don't see how this is going to do anything but increase the wealth gap and lead to reduction in government services over the long term. It's no longer inflation indexed, so the long run government revenue impact is severely reduced from what it might have been.
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Apr 21, 2015 23:44
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Mantle posted:10k limit is fine for me personally but makes me sad for society. I don't see how this is going to do anything but increase the wealth gap and lead to reduction in government services over the long term. Totes, but I'm not above benefiting from it. Between most people using TFSAs as glorified savings accounts and the fact that it's no longer being indexed, as lexicon pointed out, I imagine the actual budgetary impact is way less than advertised.
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Apr 21, 2015 23:50
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Baronjutter posted:I'd much rather have a lower cap and an actual developed-world level of social services and infrastructure. That's worth a hell of a lot more to me than how ever much I'll save on taxes on my TFSA. Every time I go down to Seattle from Vancouver and see the condition of their roads, suburbs, other public infrastructure, and education level of their service staff I reconfirm that I value shared, societal wealth higher than a slight decrease in relative individual wealth.
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Apr 22, 2015 00:04
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Mantle posted:Every time I go down to Seattle from Vancouver and see the condition of their roads, suburbs, other public infrastructure, and education level of their service staff I reconfirm that I value shared, societal wealth higher than a slight decrease in relative individual wealth. You must go to a different Seattle than the one I go to
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Apr 22, 2015 00:05
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Lexicon posted:You must go to a different Seattle than the one I go to Are you kidding me? Seattle roads are so shockingly bad that every time we go down my (American) wife turns to me and says "WE WILL NEVER MOVE BACK HERE".
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Apr 22, 2015 00:07
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Franks Happy Place posted:Are you kidding me? Seattle roads are so shockingly bad that every time we go down my (American) wife turns to me and says "WE WILL NEVER MOVE BACK HERE". I have genuinely never noticed a difference in the roads except for the more rumbly concrete (ie not Tarmac) on the I5.
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Apr 22, 2015 00:21
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Mantle posted:Every time I go down to Seattle from Vancouver and see the condition of their roads, suburbs, other public infrastructure, and education level of their service staff I reconfirm that I value shared, societal wealth higher than a slight decrease in relative individual wealth. I currently live in Oklahoma and have taken a couple work trips to Alabama/Tennessee so there's still a long way down to go  e. my (now) wife also lived in the US for a couple years and the educational system boned her pretty hard too. It started out as a mere waste of time compared to Ontario, but after she graduated and moved back north she found half the courses weren't accredited by universities. She ended up having to redo them but was behind after being out of a functional system for a couple years.
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Apr 22, 2015 00:25
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Franks Happy Place posted:Are you kidding me? Seattle roads are so shockingly bad that every time we go down my (American) wife turns to me and says "WE WILL NEVER MOVE BACK HERE". Image driven from Windsor which is a shithole onto the I75 in Michigan and you honestly wonder why anyone moves to the US at all.
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Apr 22, 2015 00:28
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Guest2553 posted:Nobody else mentioned it yet but This country is reminding me more and more of playing Tropico, wherein if you're in an election year a good strategy is to just click all the buttons that hand out free poo poo and bribes. Assassinations are also a possibility.
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Apr 22, 2015 00:35
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So if I understand correctly, the 2015 (this year) TFSA contribution limit is now $10,000? So if I already put in my $5,500 I can dump in another $4,500 right now?
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Apr 22, 2015 00:47
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cowofwar posted:So if I understand correctly, the 2015 (this year) TFSA contribution limit is now $10,000? So if I already put in my $5,500 I can dump in another $4,500 right now? Yes, it's backdated effective January 1st, 2015.
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Apr 22, 2015 00:52
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Sassafras fucked around with this message at 07:42 on Apr 28, 2015 |
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Apr 22, 2015 01:26
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^ Yeah, very true.
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Apr 22, 2015 01:42
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Lexicon posted:It's no longer inflation indexed, so the long run government revenue impact is severely reduced from what it might have been. I apologize for being an economic novice, but could you explain what this actually means? In what way was the TFSA indexed to inflation previously?
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Apr 22, 2015 03:16
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I convinced my wife to cash out a couple years worth of company stocks she's been collecting since they match 50% and just recently are changing to a system that you can only cash out once a year. She's letting me put it all in my TD e-series. Hopefully this will slowly evolve into being allowed to transfer part or all of our manulife high-fee bullshit into the e-series.
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Apr 22, 2015 03:19
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Bucswabe posted:I apologize for being an economic novice, but could you explain what this actually means? In what way was the TFSA indexed to inflation previously? Basically $5000 in 2008 dollars was $5500 in 2014 dollars. But now the contribution limit is just hard set at $10,000. So in 2020 if unchanged it will still be $10,000 but due to inflation it will be a less significant sum due to decay in purchasing power from inflation. cowofwar fucked around with this message at 03:23 on Apr 22, 2015 |
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Apr 22, 2015 03:20
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cowofwar posted:It started at $5000 and every year inflation made that worth a bit less so eventually once that difference hit $500 the cap was raised to $5500 to compensate. Ok, yes, that makes perfect sense. Thanks very much! I haven't seen this addressed in any analysis on the subject, but I'm wondering if there is any potential for revenue increases in the short term due to fewer people contributing to RRSPs. I know for myself, I would defer contributing to RRSPs in favour of first capping out my TFSA. Therefore, less of a tax rebate paid out to me at tax time next year... Bucswabe fucked around with this message at 03:56 on Apr 22, 2015 |
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Apr 22, 2015 03:50
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cowofwar posted:Basically $5000 in 2008 dollars was $5500 in 2014 dollars. It's kind of depressing to be reminded of how fast inflation creeps up. But that's probably because I've had my savings in a dumb savings account that's barely above inflation.  Credit card chat: My bank keeps sending me offers to raise my credit limit or get an Aventura card. I always pay off my credit card bill in full, it's basically just a cheaper ATM card for me. I never came close to my current cap so it's not like raising it will change anything. I was wondering if it affects credit rating to have a higher credit limit if I don't change my spending habits or come close to said credit limit? Also, I've always put off getting a fancier rewards card because the flat annual fees always seem large enough to offset whatever rewards I get from it at my rate of spending, even factoring in things like extra points for groceries. I admittedly have never done the actual calculation, however, just a rough extrapolation in my head. Is there a good resource for figuring out at what threshold rewards cards offset their fees?
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Apr 22, 2015 14:06
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Jan posted:Is there a good resource for figuring out at what threshold rewards cards offset their fees? I used to use the default rewards one from TD and was getting back about $200 cash back. Since then, I've used http://www.greedyrates.ca For the past couple of years I've been switching to a new card each year. So far it has come down to a card that waives the first annual fee and offers the best travel miles/cash back each year. Last year it was the CIBC Aeroplan one and this year it's the ScotiaBank Momentum cash back one. I'm getting back another $100-200 more by switching credit cards each year compared to the default TD rewards one. It isn't a lot but it doesn't take much effort either. Turns out the GoC also has one that's not as fancy http://itools-ioutils.fcac-acfc.gc.ca/STCV-OSVC/ccst-oscc-eng.aspx rt_hat fucked around with this message at 14:43 on Apr 22, 2015 |
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Apr 22, 2015 14:37
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For those of us with anxiety about topping up the TFSA immediately:quote:Clients over age 18 who have not contributed since the TFSA’s creation in 2009 now have $41,000 in contribution room. Carol Bezaire, vice-president of tax and estate planning at Mackenzie Investments, says CRA won’t penalize anyone who adds another $4,500 to their TFSA after April 21, 2015, even though the budget hasn’t technically passed yet. That’s because CRA considers the budget’s pronouncement law.
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Apr 22, 2015 15:54
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cowofwar posted:For those of us with anxiety about topping up the TFSA immediately: That's real loving funny, considering CRA dithered for YEARS about enacting the simplified business automobile expense deduction logs that they were ordered to implement in a budget back in like 2007.
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Apr 22, 2015 16:11
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rt_hat posted:I used to use the default rewards one from TD and was getting back about $200 cash back. Since then, I've used http://www.greedyrates.ca Thanks for this, I just applied for a new card. I've been running the same high interest zero reward lovely "student" visa card for like 8 years.
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Apr 22, 2015 16:19
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cowofwar posted:For those of us with anxiety about topping up the TFSA immediately: Given I've never put a dollar in my TFSA (thank you gold pension) should I put some away?
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Apr 22, 2015 18:16
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sbaldrick posted:Given I've never put a dollar in my TFSA (thank you gold pension) should I put some away? I don't know if this is a sarcastic comment or not so I'll treat it seriously. Hell yes, start using your TFSA. If you invest properly, it will take years off your working life or give you extra income on top of your pension to increase your retired standard of living. Also, in the future the TFSA will reduce capacity for government spending on public services so you will need to spend more personally in order to maintain the same standard of living. If you don't use the TFSA, then you will be falling behind.
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Apr 22, 2015 18:44
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Mantle posted:I don't know if this is a sarcastic comment or not so I'll treat it seriously. It's honestly part sarcastic and part I phrased it badly. The honest part is how long can I keep the unused portion to fill up later (I have a government pension).
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Apr 22, 2015 20:06
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So I'm putting some cash in TFSA and doing our RRSPs this year and was thinking it would be really nice if we had a simple "go-to" sheet of ETFs/index funds for various regions. So I was browsing CCP and noticed they now have a couple different links for model portoflios than when I first took over my management from Dominion Securities: http://www.canadianportfoliomanagerblog.com/wp-content/uploads/2015/01/CPM-Model-ETF-Portfolios-iShares-2014-12-31.pdf?850eac http://canadiancouchpotato.com/wp-content/uploads/2015/01/CCP-Model-Portfolios-Vanguard.pdf http://www.canadianportfoliomanagerblog.com/wp-content/uploads/2015/01/CPM-Model-ETF-Portfolios-iShares-2014-12-31.pdf?850eac Are the funds listed pretty much still the way to go? Ishares and Vanguard? I guess there isn't a ton of novel ideas you can do with index funds, but I didn't think it would hurt to ask. I'm actually a little surprised at how limited difference the upside is between the conservative and aggressive in those above portfolios.
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Apr 22, 2015 20:16
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slidebite posted:I'm actually a little surprised at how limited difference the upside is between the conservative and aggressive in those above portfolios. This article attempts to explain that: http://canadiancouchpotato.com/2015/04/07/ask-the-spud-do-aggressive-portfolios-pay-off/
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Apr 22, 2015 20:37
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sbaldrick posted:It's honestly part sarcastic and part I phrased it badly. The honest part is how long can I keep the unused portion to fill up later (I have a government pension). At this point in time it does not expire. The best part about a TFSA is that any money you withdraw from it in the future is not income. This means it won't count toward putting you over income limits for CPP and OAS, etc. My wife has a pension and I have taken over her TFSA. If you're at the contribution limit currently, 20k for 20years @ 7% or so is pretty much a million bucks by my calculations. Benefits aside, I would rather have a million in TFSA spinning off 50-70k a year tax free, collecting full CPP/OAS, etc because I have next to no "income", than a pension income. That's how good the TFSA is. It's so good. Everyone needs to stuff it with cash if they can. Saltin fucked around with this message at 13:02 on Apr 23, 2015 |
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Apr 23, 2015 12:59
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