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Demon_Corsair posted:How many of you actually use questrade? Since they aren't backed/owned by a bank I'm a little hesitant to give them all my life savings. I don't, for the very reason that I know they'll inevitably get swallowed up by one of the big-5 and I don't want the hassle. I trade so infrequently that I'm prepared to pay a small premium in absolute terms to have my accounts at institutions that I'm certain will literally still exist after my [ideally many decades out] death.
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Nov 13, 2015 06:31
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HookShot posted:Same. I've had my account since 2006. They can get hosed. You can buy whatever you want with TD Direct Investing. TDDI is theoretically the most 'capable' investing account there is in Canada, because you can buy e-series as well as ETFs/stocks/bonds whatever.
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Nov 13, 2015 06:32
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Lexicon posted:You can buy whatever you want with TD Direct Investing. TDDI is theoretically the most 'capable' investing account there is in Canada, because you can buy e-series as well as ETFs/stocks/bonds whatever.
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Nov 13, 2015 07:01
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HookShot posted:Sweet, thanks. I will vaguely consider doing this for weeks on end, eventually decide to buy one share in GoPro, and then realize I don't know my trading password and be too lazy to call TD to get them to set it so I can change it again. pro tip: don't buy any number of shares in GoPro 
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Nov 13, 2015 07:47
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My mad money trading account has been all usd cash the last 3 months.
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Nov 13, 2015 08:05
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Lexicon posted:I don't, for the very reason that I know they'll inevitably get swallowed up by one of the big-5 and I don't want the hassle. I trade so infrequently that I'm prepared to pay a small premium in absolute terms to have my accounts at institutions that I'm certain will literally still exist after my [ideally many decades out] death. Meh, I use Questrade. I never considered that it would eventually get swallowed up. I'll deal with that then I guess. My portfolio is still in the mid-five figures so throwing money at it monthly still feels right, so no-fee purchases are nice. If poo poo hits the fan I can always switch.
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Nov 13, 2015 17:33
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I've used Questrade for a few years now. They used Silverlight for a while which didn't work on OSX, but seem to have gotten over that. I'm a fan of no commissions on buys, and haven't really had any issues. I don't see the big deal about switching brokers though. Most will pay you to switch to them, and you can carry over any positions in-kind.
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Nov 13, 2015 17:50
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Another questrade user here. Aside from their sometimes infuriating trading platform I've been happy with my experience so far - low fees, good customer service, and CDIC insured, so some biblical-level poo poo would have to go down for me to go bust imo.
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Nov 13, 2015 21:58
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Guest2553 posted:Another questrade user here. Aside from their sometimes infuriating trading platform I've been happy with my experience so far - low fees, good customer service, and CDIC insured, so some biblical-level poo poo would have to go down for me to go bust imo. To be clear, I'm not suggesting anyone's at risk of losing any money. They're a CIPF member, for one. Questrade is a completely reasonable brokerage to use.
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Nov 13, 2015 22:44
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cowofwar posted:Bah, another wave of invites for the Tangerine mastercard went out today but I didn't get one. I nabbed an invite yesterday. $14000 limit, which is interestingly high for me. Pretty sure you referred me to ING back in the day actually.
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Nov 13, 2015 23:15
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Now that the election is over, have we gotten an official word on what the TFSA limit will be for next year?
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Nov 14, 2015 16:05
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I think the decision will come out in the 2016 budget.
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Nov 14, 2015 16:30
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Because they have a majority government they can pre announce it and the CRA will consider it law. So the 2016 limit will most likely be $5500 unless they make it $1000 to average out with last year although that is unfair to people turning 18.
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Nov 14, 2015 16:41
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I read an article in MoneySense magazine that was talking about Trudeau's changes to taxes and stuff and it was all "overall we think it's good, but we don't like the TFSA limit drop because low income people could really take advantage of that extra $5k a year in contribution room" and I was like 
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Nov 14, 2015 17:03
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I occasionally read r/PersonalFinanceCanada (go for the investment advice, stay for the tales of idiots buying in Vancouver with cash back interest only mortgages from shadow lenders!) to see what the consensus would be for the TFSA change. Someone who is or pretends to be an accountant claimed to crunch the numbers and discovered that the Liberal budget was calculated using a 5500 dollar value for TFSAs for 2015 and 2016. His opinion was that given how much of a goatfuck it would be to try and claw back contribution room, it would instead would be capped at $1000 for those who contributed 11k in 2015.  I'm not smart enough to replicate his methods so I'm just waiting for them to announce how boned we'll be. e. vvv I know bro  e2. and by 11k i meant 10k Guest2553 fucked around with this message at 21:13 on Nov 14, 2015 |
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Nov 14, 2015 17:18
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Guest2553 posted:I occasionally read r/PersonalFinanceCanada (go for the investment advice, stay for the tales of idiots buying in Vancouver with cash back interest only mortgages from shadow lenders!) to see what the consensus would be for the TFSA change. Someone who is or pretends to be an accountant claimed to crunch the numbers and discovered that the Liberal budget was calculated using a 5500 dollar value for TFSAs for 2015 and 2016. His opinion was that given how much of a goatfuck it would be to try and claw back contribution room, it would instead would be capped at $1000 for those who contributed 11k in 2015.
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Nov 14, 2015 18:11
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I just learned that most people don't pay their entire year's worth of car insurance so lol tfsa limits for poor people.
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Nov 14, 2015 20:04
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cowofwar posted:It would be $1000 for those who contributed the full $10,000 in 2015. I'm thinking this as well. Oh well, I actually should back-contribute to my pension for some non-contributory time before I had a permanent position. Plus max out that RRSP finally. I'm not sure if I should hold off on taking the tax credit, though, since I'm only making $58k/yr right now.
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Nov 14, 2015 21:11
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You'd have to weigh the time value of money to determine if you'd come out ahead by deferring the refund (answer is almost always no) as opposed to throwing it in another investment vehicle and paying taxes on gains/distributions until you're ready to invest it in an RRSP. This guy might explain it better, but tl;dr is as follows: quote:
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Nov 14, 2015 21:23
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Cultural Imperial posted:I just learned that most people don't pay their entire year's worth of car insurance so lol tfsa limits for poor people. I don't, mainly in a vain attempt to keep the money from ICBC for as long as possible, and also because usually that money in stocks makes more than the 2% interest they charge.
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Nov 15, 2015 00:12
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HookShot posted:I don't, mainly in a vain attempt to keep the money from ICBC for as long as possible, and also because usually that money in stocks makes more than the 2% interest they charge. TD Prime + 3%, for a current rate of 5.7% on after tax dollars?
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Nov 15, 2015 00:37
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James Baud posted:TD Prime + 3%, for a current rate of 5.7% on after tax dollars? I wish there were any savings accounts doing 5.7% right now.
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Nov 15, 2015 03:57
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Assuming you're a lovely driver, that's what, $40 bucks? Cmon man
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Nov 15, 2015 09:17
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I'm just getting into this investing thing now. I've glimpsed over most of the thread, bought 'The Four Pillars of Investing' (waiting for it to arrive), and started a Questrade account so far. I started a mutual fund (TFSA) with CIBC last year. I didn't know much other than 'saving is good' at that point, so I think I got taken for a ride with their Managed Income Plus Portfolio (MER = 2.19%) and biweekly contributions. From what I understand (not much), it would be wise of me to move this investment over to a lower MER index fund, or to get into ETF trading. Checking Canadian Couch Potato's model portfolio for ETFs - one of the criteria is "your portfolio is at least $50,000 or so". I'm a poor as poo poo and still in grad school, so I'm not even close to meeting this. What's the rationale behind needing at least that much capital to get started? Following that, I guess my main question for you financial goons is this: as a poor student with less than $10,000 to mess around with and a large amount of student debt (OSAP), what's my best course of action for investing long-term? I'm interested in doing something a little more 'hands on' which is why the ETFs were appealing to me, but maybe that's stupid. Any tips would be appreciated.
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Nov 15, 2015 21:29
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Trees and Squids posted:I'm just getting into this investing thing now. I've glimpsed over most of the thread, bought 'The Four Pillars of Investing' (waiting for it to arrive), and started a Questrade account so far. That said you can go with ETFs right away if you use questrade as they don't charge fees to trade ETFs I think. Just set up a monthly automatic buy of some collection of diversified funds using the couchpotato site's recommended fund portfolios and adjust based on your risk tolerance. Long term investing is boring and hands off.
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Nov 15, 2015 21:42
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Cultural Imperial posted:Assuming you're a lovely driver, that's what, $40 bucks? Cmon man I lived outside of BC basically my whole adult life until 2 years ago, I'm still paying $2500 a year to insure a 10 year old Prius with 300,000 kms on it because I get virtually no driver's discount despite never having been in an accident or any sort of car trouble (other than one speeding ticket in Washington). ICBC won't take my perfect driving record for years in Ontario and Australia. It's more of a "gently caress you ICBC, you can take my money as late as you possibly can" thing more than a "I can't pay for it on time" thing.
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Nov 16, 2015 01:39
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Trees and Squids posted:
Questrade is free to buy ETFs, but not to sell, the $50k cut off is where the savings on MER would outweigh the $10/trade (or whatever) expense of buying an ETF. Questrade has made that calculation moot I guess. That being said, with a small portfolio, the savings on MER on ETFs vs a low cost mutual fund are also going to be pretty much negligible. I started a Questrade account because it seemed more straightforward than setting up a TD account for E series funds. If you have student debt, wouldn't it make more sense to pay it off instead of investing? It's a guaranteed return at whatever the current interest rate on your loan is.
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Nov 16, 2015 01:52
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If your portfolio is <50k, I'd say read up on robo investing options. I just started an account set up with wealthsimple about a month ago. I did all the reading I could on it and didn't find any horror stories. I'm just transferring a few hundred bucks per paycheck into a wealthsimple tfsa. It's really straightforward, which I like
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Nov 16, 2015 13:42
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Kikkoman posted:If your portfolio is <50k, I'd say read up on robo investing options. I just started an account set up with wealthsimple about a month ago. I did all the reading I could on it and didn't find any horror stories. https://www.wealthsimple.com/how-it-works
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Nov 16, 2015 13:47
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On a level 5 risk factor portfolio, the MER is 0.2015%. I have a balance under $5000 so there are no additional fees yet, but even when I do, management fees can go between .5 and .35%. For that, I don't pay any other brokerage fees, and funds get automatically distributed and rebalanced between 9 different asset classes. I understand that if you can trade ETFs for free and do your research, you can most likely work up a cheaper better alternative. However if all you have is a TFSA with a 2.5% MER and you want something better and quick, then you could do worse than wealthsimple.
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Nov 16, 2015 14:30
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cowofwar posted:Because they have a majority government they can pre announce it and the CRA will consider it law.
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Nov 16, 2015 21:55
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Saltin posted:Parliament likely won't even resume until the first week of January 2016 (although this is debatable). If that is the case, by that time many people will have preemptively jammed another 10k in there. My own suspicion is that rather than figure out that boondoggle, 2017 will be the first year they can adjust. Parliament's already been recalled for December 3rd, leaving a couple weeks for a majority government to easily get a ways and means bill to enact the tax & TFSA changes past second reading at which point the CRA will treat it as gospel. Personally I fully expect the combined 2015-2016 limit to be 11k, meaning only 1k more, each, for those of us who are maxed, but hey, I'm certainly happy to stick 20k into our accounts if not. The other question will be whether they (surprise!) nuke the family income splitting tax credit for the 2015 tax year too. I haven't noticed anybody even speculate about that, but easy way for them to score points with most people and do overall federal finances some good.
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Nov 17, 2015 08:46
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I think they'll just change the 2016 limit to $5500. I doubt they'll make it $1000 to roll back the effect of 2015. That'd be bullshit for someone turning 18 in 2016.
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Nov 17, 2015 12:46
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James Baud posted:Parliament's already been recalled for December 3rd Wasn't aware of that, thanks. So, if they make it a priority they can definitely get it in prior to 2016. I would be very surprised if there is anything more complicated than "it's 5500 for 2016". Guess we will see. Not sure they would want to manage the myriad complications that come with penalizing people who saved 10k last year, nor should they be punishing savers at all, quite the opposite really.
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Nov 17, 2015 13:31
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Saltin posted:punishing savers It's the Canadian way.
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Nov 19, 2015 01:10
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Rick Rickshaw posted:I think they'll just change the 2016 limit to $5500. I doubt they'll make it $1000 to roll back the effect of 2015. That'd be bullshit for someone turning 18 in 2016. "The limit this year is $1000 unless you didn't contribute anything last year, in which case it is $5500." Wow look at that, what a hard fix. Also lol at the hand-wringing over all of those 18 year old kids who just want to put aside their first $5000. 
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Nov 19, 2015 19:09
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It could be even easier than that: "If you were born in 1998 your 2016 limit is $5500, otherwise it's $1000."
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Nov 19, 2015 20:01
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Just noticed my employment info with Tangerine wasn't filled out. Probably didn't help my mastercard chances.
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Nov 19, 2015 20:39
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Changes coming for any PC Mastercard holders. Changes effective as of your February 2016 credit card statement • The Cash Advance (Standard) interest rate** will increase from 21.97% to 22.97% • The Performance interest rate for Purchases will increase from 24.95% to 25.95% • The Performance interest rate for Cash Advances will increase from 24.95% to 27.95% • The Default interest rate for Purchases will increase from 24.97% to 25.97%; and • The Default interest rate for Cash Advances will increase from 24.97% to 27.97% Changes effective as of February 2, 2016 • The fee for a Dishonoured payment (charged for a dishonoured payment or convenience cheque) will increase from $25 to $42; • The Overlimit fee (charged if overlimit on the statement date) will increase from $25 to $29; and • A NEW inactivity fee will be introduced. The inactivity fee will be charged if on your statement date there is a credit balance on your account and there has been no activity (meaning no debits, credits, interests or fees) on your account for the preceding 12 consecutive months. The fee charged will be a fee equal to the lesser of $10 or the credit balance amount. Inactivity fee 
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Nov 19, 2015 21:41
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Wow what a lovely card. Who keeps a positive balance on their credit card though?
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Nov 19, 2015 23:17
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