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I cannot imagine a reality where corporate managers decide en-masse to pivot to working from home, quite frankly, the culture of power and control is too deeply entrenched in offices for that to happen barring an event (such as clouds of death perpetually roaming the wart like Cloud Atlas) which makes exiting your house 100% lethal. It's been clear for over a decade that it would grossly increased bottom lines, hasn't happened because office culture is not about Bottom Lines. It is about power structures. A whole lot of people have bought into a delusion this will result in deep systemic change and are going to be very disappointed in the near future when they are told to resume business as usual. The world will be an objectively shittier place and have lost a lot of civil freedoms and some luxuries we took for granted a month ago, but that's about it. Basing your investment decisions around a scenario this unlikely is a great way to lose out on earnings. And this is coming from Me.
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Mar 29, 2020 02:02
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Square Peg posted:The additional costs are internal to the fund, I believe, and have to do with the contracts the funds use to do their hedging. While I agree with the above, I think there's a bullish argument to be made for the Canadian dollar long-term purely on climate change grounds.
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Mar 29, 2020 03:41
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Rime posted:I cannot imagine a reality where corporate managers decide en-masse to pivot to working from home, quite frankly, the culture of power and control is too deeply entrenched in offices for that to happen barring an event (such as clouds of death perpetually roaming the wart like Cloud Atlas) which makes exiting your house 100% lethal. It's been clear for over a decade that it would grossly increased bottom lines, hasn't happened because office culture is not about Bottom Lines. It is about power structures. Some people don't like working from home. Some jobs can't be done from home. Even if they work from home are they magically going to stop using their cars for anything else? most US cities don't have good public transportation.
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Mar 29, 2020 17:16
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Bonzo posted:Some people don't like working from home. Some jobs can't be done from home. Even if they work from home are they magically going to stop using their cars for anything else? most US cities don't have good public transportation. Man, most US cities don't even have sidewalks in vast swathes outside the cores. Yeah, thinking this is going to be the new normal is bonkers.
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Mar 29, 2020 18:30
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Rime posted:Man, most US cities don't even have sidewalks in vast swathes outside the cores. Yeah, thinking this is going to be the new normal is bonkers. Lots of Canadian cities don’t either.
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Mar 29, 2020 18:45
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Okay I finished signing up for Questrade and I still feel unbelievably out of my depth. I figure my first move should be to max out my TFSA. I currently have ~$5500 sitting in one I purchased years ago, through my bank. My understanding is you can only have one TFSA so does that mean I have to somehow inform Questrade? Do I need to transfer it from my bank "into" Questrade? How do I buy VRGO and put it in my TFSA? Ugh I want to cry. I don't understand any of this stuff.
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Mar 30, 2020 03:46
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Cyril Sneer posted:Okay I finished signing up for Questrade and I still feel unbelievably out of my depth. You can have as many TFSA accounts as at many institutions as you want as long as you don't exceed your individual contribution limit. https://www.moneysense.ca/save/investing/tfsa-contribution-room-calculator/
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Mar 30, 2020 03:51
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Kal Torak posted:You can have as many TFSA accounts as at many institutions as you want as long as you don't exceed your individual contribution limit. So I used the calculator and it said I have $64,000 in head room. Does that mean that tomorrow I could buy $64,000 worth of VGRO and stick it inside my TFSA?
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Mar 30, 2020 04:16
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Cyril Sneer posted:So I used the calculator and it said I have $64,000 in head room. Does that mean that tomorrow I could buy $64,000 worth of VGRO and stick it inside my TFSA? Well, you would contribute the money first, THEN buy VGRO. But yes, if you gave the calculator accurate inputs, you're good to go.
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Mar 30, 2020 04:41
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Cyril Sneer posted:So I used the calculator and it said I have $64,000 in head room. Does that mean that tomorrow I could buy $64,000 worth of VGRO and stick it inside my TFSA? The smarter play is to deposit whatever max amount you can deposit to the TFSA account (this counts as your contribution even if it's just sitting there in cash) and then buy VGRO in installments of however much, every week or so until it's fully bought. This is called dollar cost averaging and essentially protects you from dumping your $64 into stock and then having it drop 10% if VGRO goes down 10% this week. It works the other way as well but generally it's recommended to not try to time the market. I would aim to have everything invested by the end of August or so personally. If you're actually feeling like you're going to cry just from setting up a TFSA maybe you should meet with a financial planner.
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Mar 30, 2020 05:00
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Cyril Sneer posted:Ugh I want to cry. I don't understand any of this stuff. Go as slow as you like, ask as many questions as you want. It's all very doable, it's just a ton of jargon and lovely interfaces. Taking an extra couple hours/days/weeks now to get an ok handle on what you're doing will save you years of pain later on.
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Mar 30, 2020 05:26
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VelociBacon posted:The smarter play is to deposit whatever max amount you can deposit to the TFSA account (this counts as your contribution even if it's just sitting there in cash) and then buy VGRO in installments of however much, every week or so until it's fully bought. This is called dollar cost averaging and essentially protects you from dumping your $64 into stock and then having it drop 10% if VGRO goes down 10% this week. It works the other way as well but generally it's recommended to not try to time the market. I would aim to have everything invested by the end of August or so personally. If you're actually feeling like you're going to cry just from setting up a TFSA maybe you should meet with a financial planner. I wouldn't say smarter. DCA is fine for a beginner and those who are risk averse, but lump sum beats DCA 90% of the time. https://awealthofcommonsense.com/2018/05/the-lump-sum-vs-dollar-cost-averaging-decision/ And considering where the markets are right now, I think lump sum is a pretty decent bet.
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Mar 30, 2020 05:34
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I think as long as it's in by end of August you're getting the benefit of the crash. I think we'll see SPY bottom around 210 before this is over IMO.
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Mar 30, 2020 06:14
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VelociBacon posted:I think as long as it's in by end of August you're getting the benefit of the crash. I think we'll see SPY bottom around 210 before this is over IMO. And IMO, we've already seen the bottom. The market is forward looking. Of course, neither of us knows poo poo when it comes to calling a bottom.
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Mar 30, 2020 17:08
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Kal Torak posted:And IMO, we've already seen the bottom. The market is forward looking. These are....famous last words. But I'd also mostly agree. Seems like things have went to some unstable stability where things are up and down and up and down and up and down. But saying that out loud might make my TFSA punish me for my gullibility. Dumb question: how much cash should you be carrying in a bank for emergencies? What do you guys do? Just curious. I live in an apartment, no car, I don't have a mortgage, and I have a $20,000 line of credit with nothing on it. I've got a stable job, and I've got parents with money so I have a safety net. Right now, whenever I get paid (once a month) I just pay off my Visa, then put in however much money into my TFSA that will leave me with exactly three grand in the chequing acount. Rent is about a grand a month including utilities. I know that's low, but I've been focusing on keeping it low to try to load up my TFSA until it's maxed (and I won't hit that cap for another few years) because worst comes to worst that's relatively liquid anyways.
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Mar 30, 2020 17:39
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VelociBacon posted:The smarter play is to deposit whatever max amount you can deposit to the TFSA account (this counts as your contribution even if it's just sitting there in cash) and then buy VGRO in installments of however much, every week or so until it's fully bought. This is called dollar cost averaging and essentially protects you from dumping your $64 into stock and then having it drop 10% if VGRO goes down 10% this week. It works the other way as well but generally it's recommended to not try to time the market. I would aim to have everything invested by the end of August or so personally. If you're actually feeling like you're going to cry just from setting up a TFSA maybe you should meet with a financial planner. The crying bit was somewhat for dramatic effect. Weirdly, I generally understand market theory stuff, just not the actual mechanics of it all. Kal Torak posted:Well, you would contribute the money first, THEN buy VGRO. But yes, if you gave the calculator accurate inputs, you're good to go. Okay, cool. In that case (and reading the other replies) I think my plan is: (1) Max out TFSA held by Questrade (bank savings -> Questrade-held-TFSA) (2) Invest a smaller portion of that into VGRO (not brave/knowledgeable enough to go all in yet, but I do want to get my feet wet) (3) Direct-buy a few stocks I'm interested in (~few thousand, again to get my feet wet and have some skin in the game)
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Mar 30, 2020 18:00
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CRISPYBABY posted:These are....famous last words. But I'd also mostly agree. Seems like things have went to some unstable stability where things are up and down and up and down and up and down. But saying that out loud might make my TFSA punish me for my gullibility. This is pretty different depending on people's expected needs but I have a CC I pay off every two weeks with a decent cap on it and a fair bit in my TFSA. I don't keep any spare cash in a normal savings account (time out of market etc) and the few times a large unexpected expense has occurred I've just put it on my CC and sold however many shares of XGRO from my TFSA to cover it. If I owned a house (I rent) I'd probably make sure I had more liquidity in case I needed my roof repaired or a leak fixed or etc. I also live in Canada so I'm not going to have a massive medical bill.
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Mar 30, 2020 19:22
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VelociBacon posted:I also live in Canada so I'm not going to have a massive medical bill. Unless it’s your teeth!
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Mar 30, 2020 19:33
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Depending on your current TFSA with your bank (if it's supposed to be an investment, rather than liquid cash), you may want to move it over to your Questrade account now, before you approach your contribution limit. Cleaning it out and transferring the money will count as a TFSA contribution now, but your contribution limit won't go up by the amount you transfer out until the end of the year. So if you have a lot of headroom, it doesn't matter that it's counted twice for half a year.
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Mar 30, 2020 19:55
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Subjunctive posted:Unless it’s your teeth! Or you need prescription medications.
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Mar 30, 2020 20:15
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yippee cahier posted:Depending on your current TFSA with your bank (if it's supposed to be an investment, rather than liquid cash), you may want to move it over to your Questrade account now, before you approach your contribution limit. Cleaning it out and transferring the money will count as a TFSA contribution now, but your contribution limit won't go up by the amount you transfer out until the end of the year. So if you have a lot of headroom, it doesn't matter that it's counted twice for half a year. Were you replying to me? I don't quite follow. I have a ~$5500 TFSA with my bank, and a bunch of money in a savings account with my bank. I have a lot of headroom ($64,000 according to the calculator).
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Mar 30, 2020 22:06
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Cyril Sneer posted:Were you replying to me? I don't quite follow. If you pull that $5500 out of your bank TFSA, you can then deposit it into the Questrade TFSA, but that would lower the amount of additional money you can put in this year by $5500 (i.e. to $58500) But, at the start of each year, you get additional contribution room equal to the amount you took out the previous year, so in 2021 you'll get that $5500 contribution room back in addition to the usual annual amount, which will probably also be $5500. So you'll be able to put in $11k as of the start of 2021. You also have the option of requesting a transfer from your bank TFSA to Questrade TFSA which won't affect your contribution limit for this year, but your bank will likely charge you fees to do the transfer and Questrade will only cover fees for transfers of $25k or more. So if you instead do a withdrawal from the bank TFSA and then a deposit to Questrade TFSA you avoid those fees.
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Mar 30, 2020 22:19
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Square Peg posted:If you pull that $5500 out of your bank TFSA, you can then deposit it into the Questrade TFSA, but that would lower the amount of additional money you can put in this year by $5500 (i.e. to $58500) The first thing sounds like the most sense to me.
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Mar 30, 2020 22:39
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Yeah, just be aware that you’re $5500 “over” your real contributions until next year.
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Mar 30, 2020 22:45
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Wrong Canada thread. Sorry!
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Mar 30, 2020 23:59
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One more question - what sort of fees or other things might I have to be worried about in terms of making a large lump sum contribution out of my bank and into a Questrade TFSA?
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Mar 31, 2020 20:49
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Cyril Sneer posted:One more question - what sort of fees or other things might I have to be worried about in terms of making a large lump sum contribution out of my bank and into a Questrade TFSA? None.
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Mar 31, 2020 20:50
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Bank might charge you fees if your TFSA is locked in something. If cash, not a problem. Just don’t contribute another 60 grand this year or whatever your contribution headroom is. You’ll pay a few cents to buy your index funds on the Questrade side.
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Mar 31, 2020 20:53
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Cyril Sneer posted:One more question - what sort of fees or other things might I have to be worried about in terms of making a large lump sum contribution out of my bank and into a Questrade TFSA? The deregistering bank may charge a fee. Similarly, Questrade will charge a deregistration fee when you leave them.
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Mar 31, 2020 23:32
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So I went ahead and set up my Questrade account. Are banking systems working slower than usual? I attempted to add funds to my TFSA via their online banking option back on March 31st -- its gone from my bank account but hasn't showed up in the Questrade account yet 
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Apr 3, 2020 05:01
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Cyril Sneer posted:So I went ahead and set up my Questrade account. Depends a lot on the banks, but it could take 4 or 5 business days. And, yeah, probably everything is running a bit slower than usual right now.
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Apr 3, 2020 05:08
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Cyril Sneer posted:So I went ahead and set up my Questrade account. Use bill payments from your bank to Questrade. It's much faster in my experience.
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Apr 3, 2020 05:15
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I've only ever used bill pay to Questrade and it usually takes a day.
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Apr 3, 2020 05:22
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I should have been clearer, but I did use bill pay.
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Apr 3, 2020 05:37
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Ah. Well, to be honest I wouldn't be surprised if things take a few days extra in this busy time. And maybe the first time takes longer? Can always jump on their live chat and ask!
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Apr 3, 2020 05:39
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I feel like it does, the first few transfers to all my accounts took days. Now it almost always hits next business day, even if the transfer was initiated after business hours. Took a few months for that to happen IIRC.
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Apr 3, 2020 06:15
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Yep I had the same experience.
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Apr 3, 2020 06:33
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You can set up pre-authorized withdrawal from your chequing account on Questrade. They take about the same amount of time, but you don't have to think about it once it's set up.
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Apr 3, 2020 14:08
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It always takes one business day in my experience. Might have taken a couple more for the first one. Although also the thing that throws me off sometimes is that the main TFSA screen shows you what your portfolio was at the previous day's close. So sometimes if you click through to the trading screen you'll find your money there in "buying power" when it's not reflected on the overview screen yet (because it showed up sometime earlier in the day). Not really a big deal, but something to consider if you're sitting their refreshing trying to find your money.
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Apr 3, 2020 14:19
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Yeast Confection posted:You can set up pre-authorized withdrawal from your chequing account on Questrade. They take about the same amount of time, but you don't have to think about it once it's set up. You can also set up a scheduled bill payment in the same amount and it just seems easier to me.
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Apr 3, 2020 17:46
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