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Lol, I was asking more if this is something that could be attempted up here with our current tax laws and market options to squeeze out higher returns at a certain portfolio size, not 'is this a good idea'. I don't plan to do anything other than long term buy and old of broad market index funds on a preset allocation, and even then will probably not amass enough money that I feel the need to search for esoteric hedge-fund-y poo poo. I did some cursory searching while my kid napped and couldn't find any TSX listed S&P put options. It also seems that while put options can be declared as either income or capital gains, every transaction has to be tracked which plants it pretty firmly into 'gently caress that' territory.
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Dec 23, 2016 20:43
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Guest2553 posted:Lol, I was asking more if this is something that could be attempted up here with our current tax laws and market options to squeeze out higher returns at a certain portfolio size, not 'is this a good idea'. I don't plan to do anything other than long term buy and old of broad market index funds on a preset allocation, and even then will probably not amass enough money that I feel the need to search for esoteric hedge-fund-y poo poo. There is really nothing wrong with selling puts. It's really the same risk profile as buying a stock outright. The only issue is the leverage and you have to be careful with how many you are putting on. However, the options market in Canada is pathetic. The options are way too illiquid. Even selling covered calls is difficult on the TSX. If you are going to be trading options, you have to do it in the US market. or you are giving up way too much edge. From a tax standpoint, there are some interesting rules regarding selling of options. Honestly, I am not up on all the rules as my eyes glaze over just trying to understand them all: http://www.taxtips.ca/personaltax/investing/taxtreatment/options.htm Kal Torak fucked around with this message at 03:31 on Dec 24, 2016 |
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Dec 24, 2016 03:28
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Rick Rickshaw posted:Questrade! So I signed up for Questrade, and they approved my account today. Everything works except the trading interface, but it sounds like this often down? Is it something you just have to be patient with?
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Dec 29, 2016 06:47
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Lead out in cuffs posted:So I signed up for Questrade, and they approved my account today. Everything works except the trading interface, but it sounds like this often down? Is it something you just have to be patient with?
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Dec 29, 2016 07:00
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Every once in a while silverlight gives me problems and I need to restart the browser, but that's the closest I've come to 'trading platform no worky'. Venting now, but I won't be able to meet my savings goals this year after hemorrhaging money the past couple months between an unexpected pregnancy, car repairs, computer crapping out, and moving for QOL reasons. I mean it's good to be well off enough that I can absorb these costs but I was hoping to be able to max out my TFSA this weekend. The upkeep of a bigger rental/extra babby will also murder my savings rate in a way that will prevent me from retiring as early as I want to if it lasts more than a few years which is what worries me most. Thanks for listening to my first world problems.
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Dec 29, 2016 16:56
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Guest2553 posted:Every once in a while silverlight gives me problems and I need to restart the browser, but that's the closest I've come to 'trading platform no worky'. Yeah, it turns out it was just lag in getting my account approved. Seems to be sorted now, and I've bought my first $1K of investments in my TFSA. Hooray for not being a starving grad student any more! Guest2553 posted:Venting now, but I won't be able to meet my savings goals this year after hemorrhaging money the past couple months between an unexpected pregnancy, car repairs, computer crapping out, and moving for QOL reasons. I mean it's good to be well off enough that I can absorb these costs but I was hoping to be able to max out my TFSA this weekend. The upkeep of a bigger rental/extra babby will also murder my savings rate in a way that will prevent me from retiring as early as I want to if it lasts more than a few years which is what worries me most. Thanks for listening to my first world problems. Isn't this what emergency funds are for? OK maybe not extra babbies. But you can think of those as a hedge against total global economic collapse right around when you're retiring. 
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Dec 29, 2016 18:58
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Lead out in cuffs posted:Isn't this what emergency funds are for? Yeah, that's the only reason I'm not sweating it too much. I can take the hit, but I guess nobody really likes having to spend an extra few thousand bucks. The new house is the biggest cost by far since it doubled my rent (and adds a 3 mile commute that won't always be cycleable in winter), but it's worth living in a house that doesn't have mold/VOCs/constant flurry of paint chips. Congrats on the first trade though, I found it to be a pretty cool grown-up feeling (even though I was like 28 at the time)
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Dec 29, 2016 19:23
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Hello all. My wife and I are finally in a place where we can start investing. Right now I have a mutual fund through my RRSP, just a dinky $50 a month, but I want to increase it. I currently have 4K in savings. Right now we have 4.5 k in a car loan, 2.4k in credit card debt, a mortgage of 239k. We have roughly $1600 free money a month to play around with. Reading a bit here it seems as if we should first focus on paying off the car and credit, and then do more investment correct? We are both in our early 30s so I'd like to make some smart moves (finally).
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Dec 29, 2016 21:35
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why are you carrying credit card debt when you can pay it off right now?
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Dec 29, 2016 22:38
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Things have been bumpy recently and I've been making strides to pay off the debt. I want to have it all paid off ASAP. I just finished paying off a second card, a line of credit and personal loan. So looks like right call is to continue blitzing the debt off.
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Dec 29, 2016 23:03
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Guest2553 posted:Venting now, but I won't be able to meet my savings goals this year after hemorrhaging money the past couple months between an unexpected pregnancy, car repairs, computer crapping out, and moving for QOL reasons. I mean it's good to be well off enough that I can absorb these costs but I was hoping to be able to max out my TFSA this weekend. The upkeep of a bigger rental/extra babby will also murder my savings rate in a way that will prevent me from retiring as early as I want to if it lasts more than a few years which is what worries me most. Thanks for listening to my first world problems. Congrats man  Got my Questrade TFSA open. Time to FUND FUND FUND for 2017!
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Dec 29, 2016 23:11
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Excelsiortothemax posted:Things have been bumpy recently and I've been making strides to pay off the debt. I want to have it all paid off ASAP. I just finished paying off a second card, a line of credit and personal loan. So looks like right call is to continue blitzing the debt off. Pay down the CC, start allocating a monthly amount to pay down the car while still leaving money set aside in an emergency fund. While your situation looks great right now, the situation can change unexpectedly and put you in a very tough position. After you pay down your debt, consider putting the same debt payment you will make over x months into your savings or retirement permanently.
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Dec 30, 2016 04:24
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Yeast Confection posted:Congrats man Lol, thanks I think We'll be a'ight. A lot better than this dumb motherfucker, anyways. Question for the masses: I realized that if I transfer in kind using my paltry-rear end unregistered account, I'd be able to max out my TFSA right away. Is there any real difference between, say, porting over 5500 worth of shares or 4000 cash and 1500 in shares? The only thing I can think of is that if I use the unregistered account to fill up the TFSA and then use the cash to replenish the open account I'd effectively bring up my ACB by a
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Dec 31, 2016 03:49
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Why the gently caress do you have an unregistered account with an unmaxed registered account? Just sell, transfer funds and repurchase otherwise you'll get hit with a transfer fee. Also it takes longer. Unless you have a real good reason to avoid realizing any losses/gains in your unregistered. But that might happen by transferring in to a TFSA I don't know.
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Dec 31, 2016 04:04
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Because technically it'll still be maxed for another 25 hours or so - when I said 'right away' I meant once Jan hits, my b. All my accounts are with the same brokerage and they handle the transfer-in-kind requests with no fee. Not sure what the time difference is between that and cash transfer is, but if I port the shares over it doesn't really matter what the price does while it settles. My non-reg account is puny enough that even if I sold it all I'd only have like 300 bucks worth of cap gains. e. Risky Bisquick posted:Pay down the CC, start allocating a monthly amount to pay down the car while still leaving money set aside in an emergency fund. While your situation looks great right now, the situation can change unexpectedly and put you in a very tough position. After you pay down your debt, consider putting the same debt payment you will make over x months into your savings or retirement permanently. This also sounds like solid advice to kick-start savings while being able to build up a safety cushion. Guest2553 fucked around with this message at 14:48 on Dec 31, 2016 |
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Dec 31, 2016 04:42
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Oh poo poo. It's almost January 1. If I want to transfer the balance of my TFSA from PC Financial to Questrade, can I do it without an actual withdrawal from PC? I know I'd get it back in 2017, but there ain't any business days left in the year and I don't want to lose contribution room. E: Questrade was really cool and just opened my self-directed TFSA on the spot after I cancelled the application. TD hosed me on an account and I'm not going to bother with them. Yeast Confection fucked around with this message at 06:23 on Dec 31, 2016 |
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Dec 31, 2016 06:21
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cowofwar posted:Why the gently caress do you have an unregistered account with an unmaxed registered account? Moving assets from an unregistered to registered account is a deemed sale so you have a taxable event no matter how you do it.
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Dec 31, 2016 13:47
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Yeast Confection posted:Oh poo poo. It's almost January 1. If your TFSA with PC is over 25,000 then you can do a transfer to Questrade for free. It takes Questrade 90 days to reimburse you for the transfer-out fee PC will charge you, but you'll eventually get the money. If you have less than 25,000 in your TFSA, then I'd ask you whether you think you'll run out of contribution room by the end of 2017 given a re-contribution of the balance of your PC TFSA. Assuming you were >=18 years of age in 2009, your room should be 52,000. If you won't run out, you can withdraw from PC, re-contribute to Questrade, and you're good to go. The amount you withdraw from PC will be added back to your room for 2018. Rick Rickshaw fucked around with this message at 17:35 on Dec 31, 2016 |
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Dec 31, 2016 17:22
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Thanks. By my calculation I shouldn't run out of contribution room in 2017, even I have to withdraw. I'll just have to keep better track of what I'm depositing over the next year. v  v
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Dec 31, 2016 19:34
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So who else started the new year with a 100% allocation to us equity? 
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Jan 6, 2017 05:27
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Risky Bisquick posted:So who else started the new year with a 100% allocation to us equity? http://www.investopedia.com/ask/answers/042715/what-difference-between-speculation-and-gambling.asp
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Jan 6, 2017 06:36
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Mantle posted:http://www.investopedia.com/ask/answers/042715/what-difference-between-speculation-and-gambling.asp I've never purchased an individual stock in my life, but I've been reading too much /r/weedstocks the last few days and it's hard to not pull the trigger on a few of the companies who are in the marijuana game. Must stay the course. Must stay the course. Rick Rickshaw fucked around with this message at 13:54 on Jan 6, 2017 |
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Jan 6, 2017 13:52
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Rick Rickshaw posted:I've never purchased an individual stock in my life, but I've been reading too much /r/weedstocks the last few days and it's hard to not pull the trigger on a few of the companies who are in the marijuana game. I impulse bought some Aphria stock the other day with a bunch of money I intended to use on ETFs. It's hard to resist..
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Jan 6, 2017 14:00
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murked by dragon posted:I impulse bought some Aphria stock the other day with a bunch of money I intended to use on ETFs. It's hard to resist.. I know it is. I'm struggling right now. I mean, how could this not be a huge opportunity to make a lot of money? It's like investing in breweries after the end of prohibition. But the argument could be made that many breweries didn't survive, so how do you pick the right ones? My plan would be to buy several, for sure. I guess I should go over to the Gambling thread with this sort of talk.
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Jan 6, 2017 14:35
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Rick Rickshaw posted:I know it is. I'm struggling right now. I mean, how could this not be a huge opportunity to make a lot of money? It's like investing in breweries after the end of prohibition. Choose the breweries owned by Liberal party donors
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Jan 6, 2017 14:46
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It's probably best to diversify, and own the whole weed market. Is there a weed sector ETF yet?
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Jan 6, 2017 15:38
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spoof posted:It's probably best to diversify, and own the whole weed market. Is there a weed sector ETF yet? Not an ETF but you can speculate here TSE: WN
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Jan 6, 2017 16:09
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If you really don't need that 5 grand and are okay losing it then sure go nuts and maybe you'll be fortunate enough to avoid a pump-and-dump scheme. I'm not okay with that so I'll stoically use that same 5g to buy bond funds despite knowing they're probably going to go down in value.
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Jan 6, 2017 17:03
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Risky Bisquick posted:So who else started the new year with a 100% allocation to us equity? Well not 100% US, but 0% Canada.
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Jan 6, 2017 19:16
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Yes, it's like a lava lamp.
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PittTheElder posted:0% Canada. Anthem of this thread right here.
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Jan 9, 2017 22:41
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Is there a thread opinion on Wealthsimple? It basically looks like CCP philosophy made into an online service. My company recently put in place a GRSP through them, although they unfortunately do not have employer contribution. So it looks like the only advantage I would have is direct deduction off my paycheque and the very slight interest gain from investing right away instead of reinvesting a post-RRSP tax return. Since I already have an ETF portfolio through Questrade, it doesn't seem like that and the added features of auto rebalancing, etc. would warrant paying their management fee on top of MERs. That said, so far I've been doing 20% VAB, 10% VCN and 70% VXC. The Wealthsimple counselor that came to present their service mentioned their recommended "couch potato" portfolio splits VXC into VBU and VBG, if only to better control rebalancing of US and global separately. With the strange and uncertain times ahead of us in US and Eurozone, is it worth getting that extra control?
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Jan 13, 2017 21:26
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No real point I'd say. If you're already comfortable with ETFs just do that. In fact, that's the exact allocation I use 
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Jan 13, 2017 21:54
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Jan posted:Is there a thread opinion on Wealthsimple? It basically looks like CCP philosophy made into an online service. I would say maybe if wealthsimple is controlling the allocation, and no if you are controlling the allocation since it would just be another temptation to fiddle with it. If the reason was for lowering fees then maybe.
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Jan 13, 2017 21:55
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Jan posted:the very slight interest gain from investing right away instead of reinvesting a post-RRSP tax return Look into filing a T1213 so you get the deduction on each paycheque. Here's a blog post about it. I believe a screenshot of an automatic monthly (or whatever) deposit is also acceptable to CRA. That post is a few years old now, and I haven't yet done it myself, but last year a couple of coworkers did it no problem.
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Jan 14, 2017 01:41
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I first heard of Questrade over the weekend, now I pop into this thread and you guys are recommending it. Can anyone give a brief summary of what is is for? It looks to be primarily a vehicle for buying stocks. Which I'm interested in doing, god help me.
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Jan 16, 2017 22:48
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Kinda-sorta yes, in effect. Questrade is an online brokerage that allows you open different types of accounts (that differ generally in what laws surround them and how they are taxed). Money you send to those accounts are used to buy (and then sell) all sorts of investments - not just stocks - but it's definitely not the sort of thing to gently caress around with if you don't know what you're getting into. What are your goals? There are a few sites out there that compare brokerages based on some criteria, but if you're willing to share yours we could make some suggestions of things to look into. The bright side is that Questrade is very simple to learn how to use (most trading platforms are nowadays tbh), and they're usually one of the lowest cost options for buy-and-hold strategies. It generally takes a few business days for cash contributions and withdrawals to settle, which may not be acceptable depending on your needs, but all the ones I've made the past month have showed up within a business day. Questrade's unregistered accounts have margin automatically enabled to begin with as well, and there's no way to turn it off, which can be another 'gotcha' if you aren't careful and fatfinger something. Questrade has a 30 day 'trial' feature that gives you some pretend money divided between a couple accounts on a non-stop ticker so you can get used to how it functions 24/7, which is pretty handy. That and a youtube video is enough to feel comfortable with the process of trading so you can short leveraged penny-stock weedcoin derivatives on margin for realsies. I don't want to make any assumptions about what you're looking for or drop a 5000 word randian tome on you, but if you're specific I'll try to help out (alternatively, someone smrter than me could answer). Guest2553 fucked around with this message at 23:45 on Jan 16, 2017 |
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Jan 16, 2017 23:40
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Count Roland posted:I first heard of Questrade over the weekend, now I pop into this thread and you guys are recommending it. Have you read the OP? I get the impression that you're unsure about what you're doing. I read every dang post in this thread before starting out and it is totally worth it. Take a month and work through it on the bus ride home. You will find your question, and many more, answered within! (Sorry if I'm making a bad assumption here and sounding like a dick.)
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Jan 16, 2017 23:57
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Tax question: Let's say I make an RRSP contribution in the first 60 days of this year, and claim it on my 2016 return. If it turns out I would have been better off claiming it on the 2017, can I restate my 2016 return and claim is on the 2017 return? Any penalties or other considerations? Is this something I want a professional for?
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Jan 17, 2017 02:14
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I've got a bunch of money in a checking account not doing anything these days. Since I can't actually open an account with Vanguard in Canada, should I create an account with Questrade and buy Vanguard target retirement funds that are listed on the TSX? I've also got a Roth IRA set up in the States, since I'm originally from there, but I'd like to diversify my holdings. My parents trust the people they've got managing their money down there, but I think they're being duped a bit and Vanguard is much lower cost.
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Jan 17, 2017 02:53
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Ccs posted:I've got a bunch of money in a checking account not doing anything these days. Since I can't actually open an account with Vanguard in Canada, should I create an account with Questrade and buy Vanguard target retirement funds that are listed on the TSX? Open a Meridian HISA account with $1g and 90 days later walk away with interest + $100. You can use any discount brokerage you would like and buy the vanguard etfs, quest trade is simply popular here. This goes without saying, but make sure you do not put money into a TFSA since you file under FATCA.
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Jan 17, 2017 04:12
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