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I buy ETFs each month with 500 bucks out of my paycheck. Hello sir, I would like 8 of your finest shares, thank you.
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Jan 15, 2020 21:21
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Awesome, I'll do some research and crunch the number on it. I hadn't been aware that there were low/zero fee ETFs in Canada. Thanks folks.
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Jan 15, 2020 23:01
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Makeout Patrol posted:Awesome, I'll do some research and crunch the number on it. I hadn't been aware that there were low/zero fee ETFs in Canada. Thanks folks. Take a look specifically at XGRO/VGRO and XBAL/VBAL if you're wanting to go with 20 or 40% fixed income in your portfolio, they auto rebalance and are pretty nifty. I actually only invest in XGRO.
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Jan 15, 2020 23:09
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VelociBacon posted:I actually only invest in XGRO.  , check my post history if you want an effortpost on it MP.
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Jan 16, 2020 00:15
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Guest2553 posted:
OOC are you able to articulate why you go XGRO over VGRO? I remember that I wanted more US exposure but I couldn't say how different it really is.
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Jan 16, 2020 00:23
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VelociBacon posted:OOC are you able to articulate why you go XGRO over VGRO? I remember that I wanted more US exposure but I couldn't say how different it really is. Whoops, you caught me before I could edit my post...if I typed up an effortpost it wasn't in this thread, because I didn't find it here. In the end it was a bunch of little things, namely the lower MER; higher number of holdings; asset allocation closer to what I wanted to aim for; and cheaper per share so I could feel  by buying more shares. I started to look at liquidity and AUM into consideration, but quickly realized that for my chump change retail investor holdings it didn't make a difference.
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Jan 16, 2020 00:37
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Guest2553 posted:Whoops, you caught me before I could edit my post...if I typed up an effortpost it wasn't in this thread, because I didn't find it here. In the end it was a bunch of little things, namely the lower MER; higher number of holdings; asset allocation closer to what I wanted to aim for; and cheaper per share so I could feel Yeah I did look through your posts in this thread and was wondering if I missed something. The lower MER does ring a bell.
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Jan 16, 2020 00:54
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Found the post I was thinking about, it seemed like effortpost because I had to look stuff up at the time.Guest2553 posted:There's a slight premium. The ballpark cost of an 80/20 is about .15 (source, but that has a significant home country bias and TSX ETFs are cheap (MER 0.06) I tried to maintain global cap rate using XEC/XEF (0.26/0.22 respectively), so my overall cost was about 0.175. I thought about VGRO (0.25) when it came out but the 7.5bps premium was too much for the simplicity. XGRO was only an increase of 3bps and was worth it to me.
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Jan 16, 2020 01:09
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Guest2553 posted:Found the post I was thinking about, it seemed like effortpost because I had to look stuff up at the time. That's a good post. I put $1k away every month and I've had to sell probably $2.5k to pay for random unexpected expenses over the span of 3 years (was in actively managed fund before this).
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Jan 16, 2020 01:19
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I've ways had my taxes done by a family friend but this year they're not available, and this is also the first year I've contributed towards an RRSP and a TFSA. How easy is it to do your taxes yourself on the CRA website? Or is it recommended to use some kind of helper software?
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Jan 17, 2020 15:46
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TurboTax is extremely easy especially if you set up a CRA login early.
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Jan 17, 2020 15:59
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StudioTax is my preferred program these last few years, simple and easy. TFSA is super simple as you don't have to worry about anything as contributions are post tax and withdrawals are untaxed, so unless you over contributed there's no impact on your taxes.
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Jan 17, 2020 16:06
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mila kunis posted:I've ways had my taxes done by a family friend but this year they're not available, and this is also the first year I've contributed towards an RRSP and a TFSA. How easy is it to do your taxes yourself on the CRA website? Or is it recommended to use some kind of helper software? SimpleTax is my go-to. I do most of my family's taxes on it. Free and straightforward.
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Jan 17, 2020 16:14
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I've used StudioTax for the last 5 years, but I've heard lots of recommendations for SimpleTax. I would not recommend any of the paid software.
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Jan 17, 2020 16:16
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Strong recommendation for SimpleTax from me - it's "pay what you want" and very straightforward, and actually a much easier way to check your tax history than the CRA. I've had some fairly complicated taxes for a couple of years due to living abroad and it handled it as easily as is really possible.
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Jan 17, 2020 16:40
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Makeout Patrol posted:Strong recommendation for SimpleTax from me - it's "pay what you want" and very straightforward, and actually a much easier way to check your tax history than the CRA. I've had some fairly complicated taxes for a couple of years due to living abroad and it handled it as easily as is really possible. Also suggesting SimpleTax. WealthSimple owns them now but its the best option. I try not to give Intuit any money since they royally tried to gently caress US citizens out of filing for free with the IRS.
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Jan 17, 2020 16:54
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Tsyni posted:SimpleTax is my go-to. I do most of my family's taxes on it. Free and straightforward. There's been a few threads on reddit recently about SimpleTax's new Privacy Policy and Terms of service that might be worth checking out if you use Simpletax Link here: https://www.reddit.com/r/PersonalFinanceCanada/search/?q=simpletax&restrict_sr=1 If you do use Simpletax, make sure and modify your privacy preferences and uncheck sharing your tax return & data with Wealthsimple/SimpleTax
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Jan 17, 2020 18:26
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VelociBacon posted:TurboTax is extremely easy especially if you set up a CRA login early. I can't recommend getting a CRA login enough. Helps us out so much once we get clients to sign that letter authorizing us to view information. A lot of people don't know this is something that exists, which is why I keep telling them to. A number of clients have called us and were surprised I can just look anything up within 5 minutes.
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Jan 17, 2020 20:03
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Yeah definitely get a CRA login. They snail mail you a thing so it can take a week or two, and if you leave it to the last minute that will suck.
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Jan 18, 2020 04:35
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Is the CRA website still only open during bank hours because 
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Jan 18, 2020 08:47
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cowofwar posted:Is the CRA website still only open during bank hours because Don't think so, it works for me right now.
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Jan 18, 2020 14:32
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CRA my account website goes down every night between 3 to 6 am EST for maintenance.
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Jan 18, 2020 15:29
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mojo1701a posted:Is it worth getting a card with travel rewards if I only travel about once a year, usually to Europe? I have a travel rewards card, and P.C card. I find myself using the P.C card and get more points for my buck. The travel card, after 5 years, I only got 6000 points. 6000 points is 6 dollars off my air fare. There was a moment in life I did all of my shopping on that credit card (never went into debt, just made my food/clothing/etc) and barely made 1000 points that month, where is P.C credit card, I can make 10K in points if I were to spend 1000 a month. Plus my travel card keeps changing its policy and rules and now I lose points after a while, which lead me to just redeem a 50 Cineplex card instead. I understand if you income is high or travel a lot for business, the travel cards are worth it, but overall for low income, it isn't worth it or once a year travel, not so much.
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Jan 20, 2020 00:17
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DrNewton posted:I have a travel rewards card, and P.C card. Thanks for the reply, DrN. I already got it for the benefit of having no foreign exchange fees and lounge access, which is totally worth it especially on longer layovers on connecting flights. Nothing like deciding to drink a few glasses of sparkling wine at noon while waiting for a flight, let me tell you. (I only wish the lounge at Frankfurt airport was after the security gates, like almost every other airport). I also redeemed enough points as an introductory bonus that got me cashback of almost two years' worth of annual fees.
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Jan 20, 2020 16:55
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I'm living in Korea for the next few years and getting paid by a Canadian company. I'm saving up a little emergency fund and would like to park it in a high interest savings account. I'm currently getting 1% or less from Tangerine and CIBC. I tried to sign up to LBC Digital based on its high ranking on highinterestsavings.ca and it gives me a vague unstyled URL error when I try to register (or sign in). I also tried Achieva which says I have to mail them an application so I asked if I can do it by email.
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Jan 21, 2020 18:41
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awesomeolion posted:
I've had a Motive Financial Savvy Savings Account for a little while now, and it's been pretty good so far. The only thing to worry about the number of withdrawals for the account (2 a month, then $5 per withdrawal after). The application can be all done through email.
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Jan 21, 2020 19:14
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Hyperman1992 posted:I've had a Motive Financial Savvy Savings Account for a little while now, and it's been pretty good so far. The only thing to worry about the number of withdrawals for the account (2 a month, then $5 per withdrawal after). The application can be all done through email. Signing up now! Thanks a lot  Edit:  quote:Motive Financial products are only available to Canadian residents. Unfortunately, we are unable to continue processing your application.
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Jan 21, 2020 19:23
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awesomeolion posted:Edit: Dang, sorry
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Jan 21, 2020 19:29
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Hyperman1992 posted:Dang, sorry No problem at all, I should probably just try the top 10 on the chart and report back.
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Jan 21, 2020 19:35
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awesomeolion posted:I'm living in Korea for the next few years and getting paid by a Canadian company. I'm saving up a little emergency fund and would like to park it in a high interest savings account. I'm currently getting 1% or less from Tangerine and CIBC. I tried to sign up to LBC Digital based on its high ranking on highinterestsavings.ca and it gives me a vague unstyled URL error when I try to register (or sign in). I also tried Achieva which says I have to mail them an application so I asked if I can do it by email. Can I ask why you want to use a Canadian savings account, rather than either a Korean savings account that would be easier for you to access, or a Canadian investment account for more long-term investing? If it's money for a medium-term goal, you could buy a GIC in a Questrade account (min $5,000) and some of them are paying 2.2% for a 1-year GIC. How to buy GICs in Questrade Questrade GIC list
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Jan 21, 2020 19:54
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Square Peg posted:Can I ask why you want to use a Canadian savings account, rather than either a Korean savings account that would be easier for you to access, or a Canadian investment account for more long-term investing? If it's money for a medium-term goal, you could buy a GIC in a Questrade account (min $5,000) and some of them are paying 2.2% for a 1-year GIC. Fair questions. At the moment I'm not able to open a Korean bank account and the intention for this account is "money i want to be able to take out any time" not mid or long term investing. I have a Quest Trade account for long term "put it there and forget about it" style investing. This is more like "have the emergency fund parked somewhere less bad".
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Jan 21, 2020 22:56
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I just got an email from Wealthsimple about their cash savings/chequing account. The copy is a big cringey, but it seems like it might be relevant to your needs? https://www.wealthsimple.com/en-ca/magazine/news-cash (I didn't actually check if you need to be in Canada.)
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Jan 22, 2020 01:45
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Unless you're a deemed or factual resident for tax purposes, you generally have to reside in Canada or brokerages won't touch you due to some securities regulation that I'm not smart about.
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Jan 22, 2020 03:25
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If you can open some sort of trading account somewhere, you could buy the ETF PSA which is just invested in high interest savings accounts? Of course no cdic like a bank account but should be pretty stable, or is that a crazy idea?
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Jan 22, 2020 06:12
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Thanks for your thoughts everyone. Looks like tangerine is always watching 
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Jan 22, 2020 21:38
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awesomeolion posted:Thanks for your thoughts everyone.
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Jan 24, 2020 01:33
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Hi guys, I posted a few questions a while back regarding my general financial ineptitude. This is going to be a slow learning process for me, but, as a very very first step, maxing out my TFSA and transferring it out of my bank into a higher-interest institute would be a good first step right?
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Feb 1, 2020 22:58
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Cyril Sneer posted:Hi guys, I posted a few questions a while back regarding my general financial ineptitude. 1. Sell everything, withdraw it all before dec 31, then transfer in to a new tfsa after jan 1. 2. Pay to transfer in kind.
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Feb 1, 2020 23:06
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Cyril Sneer posted:Hi guys, I posted a few questions a while back regarding my general financial ineptitude. On mobile so forgive not looking up your post history. If you’ve yet to max it out (like me) you can always open another TFSA at your destination institution and contribute to it now. I have my emergency fund at my bank in a TFSA still because I don’t need the room this year, and have been slowly contributing to my Questrade TFSA, buying index funds. Generally I think the sequence goes: pay off debt in order of interest rate, build up emergency fund, max out TFSA, max out RRSP, talk to fee based financial planner for unregistered investment advice.
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Feb 2, 2020 01:25
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Is there any easy resources that explain how RESPs work? Is it even worth contributing if I still have TFSA room?
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Feb 4, 2020 17:52
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