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Does anyone have any experience transferring certificate shares out of computershare? Their forms are poorly designed and (purposely?) confusing and I’m really tired of their chat bot and unhelpful phone service. From what I’ve read my first step will be to send in my certificate shares and convert them to electronic shares (DRS) and get the share advice. After that the forms don’t make any sense for transferring from computershare to my TD brokerage account. Computershare’s info bot lists a bunch of forms you need to complete for a transfer (securities transfer form, transfer declaration) but neither actually have a spot to list my brokerage account. Computershare does say you need a “letter of instruction” but have no template or form with that name on their site. Do I literally just include a letter stating to transfer my poo poo to my brokerage account #?
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May 24, 2019 19:13
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| # ? May 17, 2024 01:16 |
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Wtf is a computershare
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May 25, 2019 06:48
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Lexicon posted:Wtf is a computershare A company that is used both by public companies to offer direct DRIPs and also as the custodian for many employers' employee share purchase programs. Been around for a very long time... Just looked it up and it's apparently since 1978. So long that "computer + share" must have sounded incredibly high tech and forward thinking.
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May 25, 2019 06:58
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Get the destination account institution to do the transfer. They won’t make it obtuse to prevent you from going through with it - they want your money.
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May 25, 2019 16:09
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This greeted me when I went to login to TD today. You are protected! 
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Jun 1, 2019 15:46
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Thanks, pusher bank.
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Jun 1, 2019 16:01
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Just got notice that Scotiabank's American Express Gold card is going to get rid of ForEx fees starting in August, as well as increasing the earn rate of points.
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Jun 3, 2019 19:03
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is it safe to use my tfsa as my emergency fund? i have about $25k sitting in a savings account and almost that much in tfsa contribution room. assuming i have pretty stable and reliable employment and enough flex in my budget to deal with anything under $5k without tapping credit or the emergency fund is there anything wrong with moving it and investing in index funds and bonds? obviously there's a risk my investments do badly but assuming i pursue a conservative strategy and i contribute enough that even a 50% decline is sufficient as an emergency fund are there any gotchas i need to worry about?
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Jun 4, 2019 20:47
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That's basically what I do but I'm certainly no expert. I believe anything you take out gets added to the next year's TFSA headroom
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Jun 4, 2019 21:05
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A big part of emergency funds is being able to access it quickly, which is why investing it is generally a bad idea because it takes 2-3 days to finalize sales and transfer the money to your bank account. Keeping an emergency fund in a high-interest TFSA at the same bank as your chequing account is about as far as I would go.
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Jun 4, 2019 21:26
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I just figure so long as the expense is less than the generous credit limit on my CC I can just use that, sell and transfer from TFSA, then pay off the CC. For me (not a homeowner) the ceiling for what an emergency expense could be is relatively low.
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Jun 4, 2019 21:47
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Don’t invest your emergency fund. Keep it liquid. There might not be much benefit to using the TFSA that way. The places with the highest savings account interest rates in Canada have about the same rates between TFSA and unregistered accounts. So you’re saving a bit on taxes, and if you aren’t using the TFSA room otherwise then I guess you might as well!
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Jun 4, 2019 22:17
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If you've got investments and one or more lines of credit large enough to handle any reasonable emergency, the few days it takes you to sell something, settle, and transfer funds back will literally cost you a handful of pennies, and in return you (on average) actually get a decent return on the emergency fund. Should you happen to be well below your TFSA contribution limit, pulling funds out temporarily may not even block you from repaying them right away.
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Jun 5, 2019 00:14
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What if your emergency affects your credit, like a job loss, identity theft, or a housing disaster that makes a HELOC a no go? I would always keep at least a few grand in cash in savings, if not the whole emergency fund.
Square Peg fucked around with this message at 05:04 on Jun 5, 2019 |
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Jun 5, 2019 05:02
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No emergency is going to result in you losing all sources of credit in fewer than three business days (to cash out investments) unless we're talking "Enemy of the State" levels of asset freezing, in which case only cash will do. Having enough cash on hand to survive a missed paycheck or two is a good policy to reduce stress though, sure, if you can swing it. It's the "six months of locking expenses in cash" sort of emergency fund that's pointlessly inefficient if you have both semi-liquid investments and access to credit. And if even non-liquid assets are way bigger than the credit, it's never going to get called by the bank anyway. James Baud fucked around with this message at 08:55 on Jun 5, 2019 |
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Jun 5, 2019 08:49
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What housing-related crisis would be week-sudden and lead to a bank closing a HELOC out from under you, anyway? I’m pretty sure mine has a notice period even if they decide my house has lost 3/4 of its value. I guess if they freeze accounts because the cops tell them to before they raid my home and office? My HELOC is my oh-poo poo-I-need-some-ridiculous-amount-now-for-bail/3rd-world-bribes/autographed-Hudson-Hawk-movie-poster strategy, so I’m curious as to ways that such a plan can fall apart.
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Jun 5, 2019 12:43
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Re: Emergency funds, perhaps some cashable or redeemable GIC in a TFSA could make sense? You can take money out of those without much issue too. How do those compare to a high interest savings account?
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Jun 5, 2019 20:36
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James Baud posted:No emergency is going to result in you losing all sources of credit in fewer than three business days (to cash out investments) unless we're talking "Enemy of the State" levels of asset freezing, in which case only cash will do. This is where I am. I keep about 10k in the bank and a few hundred cash, plus 15k each in CC/LOC. The 10k is a bit over three months of regular expenses by itself, which is enough time for all but cataclysm-level events that render things like money useless. I keep the money in a my day-to-day bank account with TD, since the benefits of their all inclusive account outweigh the $200 i'd make in interest - free personal cheques, EMTs, safety deposit box, premium credit card, and some other stuff I don't use. I'm a filthy renter that works in public service though, things'll be different if you own a house or work in a lovely industry.
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Jun 5, 2019 22:06
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yeah i'm a renter with too much available credit and an average checking account balance of about $10k. i mostly just feel silly having another $25k sitting around
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Jun 6, 2019 01:04
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I have a serious question how much happiness is worth 90k vs 150k savings per year I have two job offers. One that I want more, one that pays a fuckton. Either way I have enough to live but the difference is amount I sock away per year in retirement savings.
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Jun 6, 2019 14:40
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Take the money, you have free time for hobbies and happiness.
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Jun 6, 2019 15:44
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Risky Bisquick posted:Take the money, you have free time for hobbies and happiness. *I am not saying their high paying offer will make them miserable. But the question is so subjective it doesn't make sense to ask strangers for an answer. We all have different life experiences and situations that affect our perspectives on life.
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Jun 6, 2019 16:03
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Take the money and downsize your profession later if you feel the need.
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Jun 6, 2019 16:07
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There's also the uncertainty in the "happier" place actually being happier once you're there, and the less happy place might end up better than you expect. Take the money and bail later if it ends up being miserable.
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Jun 6, 2019 16:20
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rgocs posted:Except, you know, if you also derive happiness from doing work you enjoy and find satisfying, while still getting enough money to live and retire well. Then you are in an even better position to enjoy your free time. Being miserable* for 50+ hours a week may leave some with little ability to enjoy the rest of their awake time. No details provided as to what constitutes happiness, so the obvious answer is take the money. The younger you are, the more important it is to take the extra money because of compounding. You can even take, if possible, extra time off unpaid with the higher salary. Unless there are details, it's a no brainer imho.
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Jun 6, 2019 16:35
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Bajaha posted:There's also the uncertainty in the "happier" place actually being happier once you're there, and the less happy place might end up better than you expect. Take the money and bail later if it ends up being miserable. Yeah great point. I had a job once that I didn't much care about that just took because it seemed convenient and the job market was ho hum at the time, but it turned out that everyone there was really awesome and I stayed there for three years.
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Jun 6, 2019 16:37
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Risky Bisquick posted:No details provided as to what constitutes happiness, so the obvious answer is take the money. The younger you are, the more important it is to take the extra money because of compounding. You can even take, if possible, extra time off unpaid with the higher salary. Not only this, but more money is important because it also sets the tone for your salary at future places of employment too. The pay you receive at the gig after this next one is likely to be based in some degree on the salary you decide upon now.
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Jun 6, 2019 17:33
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Methanar posted:I have a serious question If you are able to live comfortably and still save enough on the lower paying job that you will actually enjoy take that. Hating 1/3 of your life isn't worth a bit of extra cash.
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Jun 6, 2019 18:14
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I accepted the lower offer. Both jobs I would have been doing Kubernetes on AWS. The 175k offer I would have made 150k as a canadian employee with around 25k worth of RSUs per year and full benefits. After personal income tax and RRSP contributions and subtracting out my 60k to live I'm left with around 70k + my 20k RRSP. I started screwing around with the math a bit and accounted that I haven't made any TFSA contributions and have 40k worth of room there. The math is probably screwed up in hindsight but its too late to change my decision. I've decided I'll do the more fun option that already has two mini vacations built into it in terms of team offsites within the next 6 months. Maybe the stock grows better than expected too. I think in reality The 2nd offer was being an AWS/kubernetes consultant with a flat 250k per year. This option I would have been working through my llc. Corporate tax and gst next year will only be a combined 16%. From that, I only need around 60k to live to the remaining 150k is just left in my business in a tax deferred state to invest. This is what I've been doing for the last 3 years. My last job I only made 170k though. It would have involved in working in a lovely timezone, and occasional travel to the east coast which will always be a 8+ hour trip for me one way. The work would have also been in a consultancy capacity and with a lot of responsibility so what if I screwed it up and get fired after a few months anyway for not knowing what I'm doing. In the end, I'm not sure what exactly to value the TFSA contributations at vs leaving money invested in my corporation untouched by personal income tax for the time being. But I'll say its worth 20k. In the end then what I've chosen is a slightly better job for ~40k less money I don't have to commit to this forever. Maybe in a year once I get my first cliff of RSUs and filled out my last 5 years of unused TFSA space and the job isn't as much fun as I thought. I can still pursue the consulting option. It is nebulous of if the job is actually more fun. Its all speculation but I do perceive it as less risky. There is also a factor of moving and where do I want to live. With the regular travel I'd maybe want to move to Ottawa to be more east coast but with the 175k option I'll move to edmonton instead which is what I think I want more to stay west coast ish for travel.  Basically I already regret my decision and would no matter which I had chose. How stupid am I?
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Jun 6, 2019 18:38
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FWIW, I think you made the right choice. Can always do the consulting later.
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Jun 6, 2019 21:57
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Saving money in your corporation is basically a long term money loser in 95% of circumstances under the current tax regime even before you count the additional accounting expenses. Looks great up front, but the overall math doesn't work out in its favour. The other 5% of circumstances are "do zero work, dividend it out at a low marginal rate", although there may still be reasons to incorporate and eat those legal and accounting fees such as SRED and BDC grants that pay out more to corporations.
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Jun 6, 2019 23:30
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James Baud posted:The other 5% of circumstances are "do zero work, dividend it out at a low marginal rate" This is basically what I was doing. Just throw it all into index funds and only withdraw a small amount each year, the bare minimum to live.
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Jun 7, 2019 00:28
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I am looking for some dummy investing advice. My mom has a faily low-value RRSP which will become an RRIF in a couple of years. She has a separate pension so this is just some extra money for her. She's got it in some high MER mutual fund, and I was going to tell her to move it to a low-risk Tangerine fund, since that will require no management from her. Would anyone have any other suggestions for a low-effort, low-risk option, or do you think that would be best? Her financial knowledge is zero and risk tolerance is low.
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Jun 16, 2019 00:17
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I think robo-advisor fees are a bit cheaper than tangerine funds these days, I haven't used any myself though so I don't know what using one is like.
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Jun 16, 2019 00:44
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It took a gift of 'Millionaire Teacher' and an offer to help them set up a brokerage account to buy some VBAL before my parents finally ditched the lovely mutual funds they had for the couple decades prior.
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Jun 16, 2019 02:29
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Has anyone used a TransferWise borderless account to get paid in USD and exchange to CAD? Seems too easy for avoiding wire transfers and getting an ok exchange rate, so I’m feeling like there’s a catch somewhere, like getting money transferred to an account in your name with a US address means filing with the IRS for some reason. When people were talking a couple months back about moving USD across the border with RBC or TD, did whoever’s paying you the USD need to wire it in? Or could they do direct deposit?
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Jun 17, 2019 23:19
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pokeyman posted:Has anyone used a TransferWise borderless account to get paid in USD and exchange to CAD? Seems too easy for avoiding wire transfers and getting an ok exchange rate, so I’m feeling like there’s a catch somewhere, like getting money transferred to an account in your name with a US address means filing with the IRS for some reason. You can do the smith maneuver to exchange cad <-> usd using a brokerage account at the cost of the trade and a couple days settlement. Those guys you linked still charge fees though lower than retail banking and online banking.
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Jun 18, 2019 14:21
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Risky Bisquick posted:You can do the smith maneuver to exchange cad <-> usd using a brokerage account at the cost of the trade and a couple days settlement. Those guys you linked still charge fees though lower than retail banking and online banking. I believe you mean the Norbert's Gambit, the Smith Maneuver has to do with investing home equity.
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Jun 18, 2019 15:31
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Square Peg posted:I believe you mean the Norbert's Gambit, the Smith Maneuver has to do with investing home equity.  
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Jun 18, 2019 16:45
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| # ? May 17, 2024 01:16 |
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I’ll have to try Norbert's Gambit out. What a silly name. edit: there’s nothing meaningfully better than wire transfers? It’s more on principle than the actual dollar amount. "We took $20 for twiddling some bits."
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Jun 19, 2019 03:55
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