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DariusLikewise posted:Buy weed stocks and wait for next July being Canadian owns
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May 4, 2017 23:01
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TSE:WEED is an aquisition target for TSE:L. Vertically integrated WEED. OK boys what's your latest earnings plays? I'm long on TSE:T Risky Bisquick fucked around with this message at 23:58 on May 4, 2017 |
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May 4, 2017 23:55
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DariusLikewise posted:No I disagree, in this situation you want to dump everything in the RRSP. Canadian tech stocks and housing! It can only go up!
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May 4, 2017 23:57
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Can this also be the "rant about Canadians that are bad with money thread"? I had a friend tell me last weekend that I need to dump all my mutual funds/ETFs and buy weed stocks because he knows a guy that has made over 500% since he invested, also I'm stupid for not buying a bigger house and spending the entirety of the mortgage pre-approval I received from the bank, all that equity!! All that in about in the span of about 15 minutes. This is why I trust strangers on a dead internet comedy forum that I shitpost on more than friends and family when it comes to money.
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May 5, 2017 15:40
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DariusLikewise posted:Can this also be the "rant about Canadians that are bad with money thread"? If you want to slam him consider using a smith manoeuvre against your home to leverage into indexes.
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May 5, 2017 15:57
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DariusLikewise posted:Can this also be the "rant about Canadians that are bad with money thread"? I was up 25% on my weed stocks at one point but poo poo's tanked hard. I bet I'm even or worse. Index up over 10% during same time, haha. I only have 1.5% of my net worth into it so I can still sleep at night. I'm going long.
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May 5, 2017 16:42
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Risky Bisquick posted:If you want to slam him consider using a smith manoeuvre against your home to leverage into indexes. Didn't the CRA kill that?
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May 6, 2017 20:55
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Thanks to the thread for the advice regarding Questrade. I've been doing some research and I think I'm ready to open an account. I'll start with a TFSA, and deposit my unused contribution room for this year and last. One question though: I understand that Questrade lets you purchase ETFs for free, but i cant find any information on commission fees when you sell. Can anyone tell me how that works?
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May 6, 2017 22:33
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Subjunctive posted:Didn't the CRA kill that? No, it's (still) perfectly legal as far as they are concerned, as long as you do it correctly.
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May 7, 2017 01:19
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Bucswabe posted:One question though: I understand that Questrade lets you purchase ETFs for free, but i cant find any information on commission fees when you sell. Can anyone tell me how that works? Questrade can tell you how that works! It's just a standard "stocks" trade.
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May 7, 2017 01:31
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What are folks paying for tenant insurance? Just realized I never really bothered to shop around, dunno if I'm getting ripped off or not. Curious if this is at least ballpark average or if I should look into changing it up. In Vancouver though TD I'm paying $50/m for $60k coverage, $1m liability, and includes earthquake coverage. $300 deductible.
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May 8, 2017 20:34
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I'm paying $45 or so a month for I think pretty similar in Whistler. Mine includes a bunch of coverage of ski gear and stuff though, too.
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May 8, 2017 20:37
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I pay about $42/month in Toronto with $2 million in liability, unlimited coverage for computers and fine art (lol) and something like $50-$75k for other contents. Its pretty standard but does cover sewer back-ups which I know from news stories a few years ago (in Hamilton) is something a lot of companies exclude. No deductible due to length of coverage (10 years).
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May 8, 2017 21:05
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Can someone explain to me why the Morningstar risk rating for the TD e-fund for Canadian Bonds is "above average"? I was under the impression that bonds were low risk/low return. Or is it just that they're negatively correlated to your equities so even if the bonds drop the equitites in your portfolio will likely negate the loss? On that note, are bonds still the preferred portfolio balancer, even for shorter investment horizons like 3-year or 5-year? Or should I be looking into cash or GIC alternatives?
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May 8, 2017 21:31
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The Butcher posted:What are folks paying for tenant insurance? I'm about 42/mo in ON with something like 100k coverage, 1mm liability, and flood coverage with 500 or 1k deductible. The previous few places I've lived in (not all in ON) have been similarly priced for similar coverage with a low of 35 with no flood insurance and high of 50 with tornado insurance. Your rates don't seem out of the ordinary but it never hurts to call around every now and again to see what the competition offers.
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May 8, 2017 21:46
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Good grief, you guys are getting ripped off, I haven't paid the equivalent of even 30/month possibly ever... And I do carry around 60k in possession coverage. My current coverage is through TD but sonnet.ca quotes substantially cheaper and is my current go-to recommendation. Free online quote, etc. Incidentally I think earthquake coverage on (most) tenant policies is usually an expensive joke. Is your home really going to be reduced to a flaming pile of rubble even in a truly massive earthquake? And you're going to live and the insurance company will pay out? Owners at least have a structure to repair. James Baud fucked around with this message at 22:15 on May 8, 2017 |
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May 8, 2017 22:02
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James Baud posted:My current coverage is through TD but sonnet.ca quotes substantially cheaper and is my current go-to recommendation. Free online quote, etc. Wow those are some way better rates. Pretty steep deductible though, min $1k. Looks like there are some better deals out there to be had for sure. Gonna keep shopping around. Always good to review these kind of "set it and forget it" type expenses every now and then.
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May 8, 2017 22:15
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Foodship9 posted:Can someone explain to me why the Morningstar risk rating for the TD e-fund for Canadian Bonds is "above average"? I was under the impression that bonds were low risk/low return. Or is it just that they're negatively correlated to your equities so even if the bonds drop the equitites in your portfolio will likely negate the loss? The risk is being compared to benchmark, not other asset classes. Morningstar is saying that fund is slightly riskier than benchmark funds in the Canadian Fixed Income class. Bonds are fine for the 3 to 5 year time horizon.
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May 9, 2017 01:00
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Guest2553 posted:Someone else did the math better than I ever could so I'll link there instead, but in summation: mojo1701a posted:I'm still trying to wrap my head around taxable being better than delaying, though. Aren't you allowing compounding in the RRSP that you'd otherwise pay tax on? I'm super confused by this. Can someone opine on whether I'm doing my savings totally wrong for my situation. I'm currently making what I expect to be close to as much as I ever will in this career (as-yet undiscovered rock star status notwithstanding). I also have fairly low expenses, so I'm able to save about 40% of my gross income, but I've only started serious saving in the past two years. I put enough into RRSPs this year to get 10k back, which I also put right into my RRSP. (Actually calculated in advance, used my LoC to contribute and paid off the balance with the return) I currently don't have a TSFA, as I was thinking I'd max my returns and get everything crammed into my investments to maximize compounding. Should I forfeit some of the return money up front to load my TFSA with more earlier?
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May 9, 2017 01:39
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mr.belowaverage posted:I'm super confused by this. Can someone opine on whether I'm doing my savings totally wrong for my situation. They're talking about minmaxing your remaining tax shelter room once you've filled up your TFSA and presumably have the means to quickly fill up your RRSP once you bump up to a higher tax bracket. That doubly doesn't describe you, so I don't think you're missing anything there. I found this post very helpful for understanding what's going on with these two different tax shelters. Maybe you'll find it helpful too? As an aside, while you are Doing It Right by putting your tax refund right back into your RRSP, I'm a little suspicious of you borrowing your tax return on your LoC to squeeze a few more dollar-months into your RRSP. You can simply get your refund back on each paycheque instead by filling out a T1213. Remember that compounding works its magic on the scale of decades, not months.
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May 9, 2017 02:51
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mr.belowaverage posted:
You're doing fine as is.
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May 9, 2017 03:30
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pokeyman posted:As an aside, while you are Doing It Right by putting your tax refund right back into your RRSP, I'm a little suspicious of you borrowing your tax return on your LoC to squeeze a few more dollar-months into your RRSP. You can simply get your refund back on each paycheque instead by filling out a T1213. Remember that compounding works its magic on the scale of decades, not months. Good tip on the T1213, thanks. But if I don't end up even paying interest in the short time I borrowed against my LoC, does it matter? I really can't guarantee I'll save as much as I want to over the year, so it's not like I'm doing my 2017 taxes now.
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May 10, 2017 03:16
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If you're not paying interest then yeah, go for it. I'm kinda paranoid about stuff like that, like I assume I'll mess it up and do something a day late and blah blah. Sounds like you've got it covered.
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May 10, 2017 04:25
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What's a good choice for bond ETFs in a registered account? I can stick with VAB but going all in on Canada seems dumb.
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May 10, 2017 22:46
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yippee cahier posted:What's a good choice for bond ETFs in a registered account? I can stick with VAB but going all in on Canada seems dumb. VBG or VBU, according to the Spud. I'm not sure if there are any other bond ETFs that are hedged to CAD. It's not really recommended unless you're holding hundreds of thousands of dollars in bonds alone though.
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May 11, 2017 14:16
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How much in bonds are you realistically holding for exposure to matter. The growth right now will be extremely low regardless.
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May 11, 2017 14:47
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yippee cahier posted:What's a good choice for bond ETFs in a registered account? I can stick with VAB but going all in on Canada seems dumb. There was some reasoning as to why you don't need to diversify bonds (and are better off not doing it, IIRC?). I think it involved currency, perhaps someone could clear that up?
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May 11, 2017 14:55
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Jan posted:There was some reasoning as to why you don't need to diversify bonds (and are better off not doing it, IIRC?). I think it involved currency, perhaps someone could clear that up? My understanding is the currency volatility can easily exceed the meager gains your bond ETF will make. If you want that kind of volatility you might as well stick to equity ETFs as the upside is much higher. In short, you introduce more risk for less reward.
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May 11, 2017 15:13
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Cold on a Cob posted:VBG or VBU, according to the Spud. I'm not sure if there are any other bond ETFs that are hedged to CAD. Cool, this is exactly what I'm looking for. I've only got a tiny bit of VAB at the moment and don't expect to get into the 6 figgy range anytime soon. I wanted to know a bit more so I didn't make a bunch of passive contributions over a few years and only then find out 100% Canada wasn't a good idea.
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May 11, 2017 17:25
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Okay so I'm a bit confused with my "baby's first savings account/index funds" plan. I've only recently started my first real job post-university with a government pension. Just recently paid off my student loans, so I'm looking to put that money now towards savings I currently have a small sum ($5,000-ish) in my PC Financial regular ole TFSA that acts as my "emergency fund" (for whatever reason?). Usually I sit around with $1,000 or so in my chequing account to pay for rent, food, credit card etc. I want to get index funds for long-term savings. Right now, I'm at the bottom of my career and earning-potential, so as I've discussed earlier I'm going with TFSA and looking at the Tangerine index funds (since I'm following the coach potato strategy of index funds for <$50k investments instead of ETFs and the like) as I've got tons of contribution room (probably at minimum $50,000) I'm sort of confused as to what happens when I purchase these funds. Do I just plop all $5,000 in a newly opened Tangerine TFSA, purchase one of their portofolios, and then just regularily contribute monthly? How does this work? Am I "buying" more funds every month if I setup an automatic transfer? Or do I have to transfer money like a savings account, and THEN buy the funds? Finally, what about my "emergency savings account"? I've heard some arbitrary rule of thumb to have 3-months liquid salary for emergencies. Should I wait to collect that in my TFSA before I start index fund investing? Should I put a couple thousands just in a regular savings account for that purpose? How liquid is my TFSA Tangerine index funds?
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May 15, 2017 03:30
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Does anyone know a good place to calculate income tax and withholdings and such? I just started a new job, and it seems like I'm being taxed at a rate that's about 10% higher than I ought to be.
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May 15, 2017 05:05
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Oysters Autobio posted:Okay so I'm a bit confused with my "baby's first savings account/index funds" plan. Yeah, accumulate your cash buffer before buying index funds. You never want to have to liquidate investments for short term cash needs. Most investment accounts allow you to schedule a reoccurring fund purchase and then set a source for the funds which can be an auto transfer from an external account.
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May 15, 2017 05:36
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slap me and kiss me posted:Does anyone know a good place to calculate income tax and withholdings and such? I just started a new job, and it seems like I'm being taxed at a rate that's about 10% higher than I ought to be. http://www.cra-arc.gc.ca/esrvc-srvce/tx/bsnss/pdoc-eng.html
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May 15, 2017 05:45
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also keep in mind if you were done making Cpp and will contributions your new employer is required to fully deduct for them even if you paid them previously.
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May 15, 2017 08:07
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Right. Even factoring in CPP and EI deductions, the cheque seems somewhat lower than it ought to be. Thanks folks!
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May 15, 2017 15:21
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Congrats on getting rid of the loans and picking up a career  Re: emergency fund - you're correct in stating that you should have an emergency fund before considering investments. The whole point of one is to have some measure of liquidity (cash) to absorb a few months worth of essential expenses without having to compromise other holdings right away (eg - incurring early redemption penalties of a GIC, crystallizing a paper loss during a down time, triggering a capital gain at a bad time, etc) or living off credit/payday loans/goodwill. How much to have depends on a lot of personal factors - do you have friends or family nearby that you could crash with? A family? Mortgage? Being on Pheonix payroll? etc. My own fund is 3 months of expenses. I also have a personal line of credit that could cover another 4-5 months. It's a better alternative than turning to credit/insolvency, it allows me to allocate more money toward investments, and the chance of me having to rely on it are pretty small so I'm willing to eat that risk. You also don't need to keep an emergency fund in a TFSA, and it's something I personally don't do because I'd rather use my TFSA for growth. If you're not at the point where your TFSA is (or will very soon) it doesn't matter though. I personally keep my e-fund between a chequing account, a savings account de-linked from my card (in case of cloned/stolen card, since it can only be accessed online or in person) and 5% cash-in-hand for the unexpected. Since you're at the bottom of the pay-scale, you should deffo max out your TFSA first. RRSP room will be limited because of your pension, so you'll probably turn towards a non-registered account at some point. I'm not familiar with Tangerine specifically, but normally after transferring funds to the account you have to actually buy into the desired fund. Tangerine may have a way to automate it since they're all about ease of use, but you are paying for it - the cost of Tangerine is about double that of TD, and 3-4x a collection of ETFs from an online brokerage. You're already ahead of the game at this point, but take the time to figure out some other options because across a lifetime it can easily cost you five figures for like an hour of work a year. Oysters Autobio posted:Okay so I'm a bit confused with my "baby's first savings account/index funds" plan. Guest2553 fucked around with this message at 16:52 on May 15, 2017 |
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May 15, 2017 16:37
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Good advice. Opening an account at Questrade and using it isn't difficult to do. I think the recommendation to use Tangerine for smaller portfolios mostly to get you started saving right away instead of having you give up on all this investing stuff when you have to pick which ETFs you want to buy and everyone online has a different advice on weighting, etc.
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May 15, 2017 16:51
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When first starting out just go for ease of use as your contributions will dwarf any returns and the absolute value of the difference between fund MERs will be extremely small. Once you're up to over a hundred grand the returns and savings from MER differentials will be more significant. Also you'll be able to get a better broker without paying account management fees or other bullshit.
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May 15, 2017 17:05
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Does anyone here have a Roth IRA in the states while living and working in Canada? I've got a Roth IRA and investments in the US I can shift into the Roth IRA over a period of 15-20 years. Canada apparently will treat a Roth IRA like the Americans do, but only if you've declared to them that you have one. It also seems you can't contribute to one while being a resident of Canada, but maybe they mean you can't contribute the income you've earned in Canada to that Roth IRA. The wording is unclear. When I talked to the bank they asked if I had an American bank account. I said I did, so they suggested that when I get to 60 a start getting paid by the Roth IRA, I pay it into my American account and then transfer that to my Canadian account. That way it would be a "gift" as opposed to a disbursement from an American investment vehicle into a Canadian account, which could attract the attention of the CRA. But that sounded sketchy and possibly illegal. Then again, my girlfriend's parents get money from their pension in China and then send it to their daughter as a "gift" and there's nothing illegal about that, as the CRA doesn't tax gifts, so maybe it's fine?
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May 16, 2017 00:26
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yippee cahier posted:Good advice. Opening an account at Questrade and using it isn't difficult to do. I think the recommendation to use Tangerine for smaller portfolios mostly to get you started saving right away instead of having you give up on all this investing stuff when you have to pick which ETFs you want to buy and everyone online has a different advice on weighting, etc. Questrade is not difficult but it sure can be intimidating. There's a ton of knobs you can turn and the worry that you've somehow hosed it up can take ages to dissipate. Nobody reading this thread is doing something stupid by investing in Tangerine funds or a vaguely balanced e-Series allocation. Just know there are further efficiencies available if and when you want to eke out some more dollars with a little more work.
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May 16, 2017 00:31
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