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Jan posted:"Perfectly fine" as in nearly 2x the MER, plus you get condescended on to the point you can't choose your own portfolio allocation without going through a questionnaire? They don’t do that if you get a direct investing account IIRC, but ETF’s are the way to go regardless, especially with no fee purchases on Questrade.
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Mar 24, 2019 22:12
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PoizenJam posted:I invested for the first time this year, opening both a TFSA and an RRSP through Questrade. I do not yet see this information reflected in my 'CRA My Account', though I am able to download slips for the RRSP contributions through Questrade. I have not really been able to find any consistent information on how Questrade communicates with CRA or SimpleTax to disclose this information. Not a tax season concern, but if you’ve made the tfsa contribution in 2022, the CRA won’t find out about that until Q1 2023. Make sure you’re tracking TFSA contributions yourself to avoid exceeding any limits there, regardless of what shows on the CRA site.
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Feb 22, 2022 22:15
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LeninVS posted:Hello, hoping for a bit of help. I'm brand new at all of this. Still perfectly valid IMO. Questrade is still a good option with no fee ETF purchases (sell on sale only).
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Apr 19, 2022 02:03
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DariusLikewise posted:Does anyone know if there’s changes coming to TD E-Series. My TD advisor called me for the first time in 7 years and said it’s important to come down and talk about my investments. If memory serves, they’ve discontinued the e-series mutual fund account. You need one of the TD Direct Investing accounts now to purchase.
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Feb 18, 2023 21:42
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sbaldrick posted:So I already an active mutual fund account with TD but I want to start trading my stock holdings more often and adding to them. I’ve read IBKR is still the choice if you’re going to buy overseas stocks, but doublecheck the fees. It can become extortionate level, though I think all the major players allow it. I’m with TD Direct Investing now, but I liked the Questrade platform as well.
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Mar 21, 2023 03:46
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mila kunis posted:Can you buy GICs at IBKR? I don’t think so looking at the site, but full disclosure I’ve never used that platform personally. All the major banks again will allow access to at least their GIC’s via their brokerages, but I’ve mostly just used EQBank for GIC’s.
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Mar 21, 2023 13:31
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You definitely can get leniency from the CRA. I over-contributed to my TFSA over 2 tax seasons, and sent a letter of apology (and also a payment cheque just in case) when doing taxes each year. In both cases, they did cash the cheque at first, but eventually refunded me the penalty amount.
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Jul 26, 2023 23:31
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slidebite posted:Anyone use Canadian Western Banks online subsidiary, Motive financial? I switched from EQB to Motive for a savings acct and you’ve hit the key points: the app is trash. I had to send a void cheque so that I could pull money to my chequing acct at another bank as well, it is definitely old software. The only other item is that there’s only 2 free withdrawal transactions per month, but this doesn’t impact me at all. But hey, 4.1% ain’t bad to put up with some minor inconvenience.
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Aug 6, 2023 20:28
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I have never tried to open a US account and can't help there, but Wise doesn't need a US chequing account to hold funds unless there's some limitation I'm missing. I've had both USD & CAD on my Wise account directly, albeit only for short term purposes.
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Jan 4, 2024 00:31
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priznat posted:Yeah I suppose I could do that, I was hoping I could just make it easy, ah well. With RRSP at least you have a grace of $2k over the limit before they will actually penalize you, although I can't recall if that is lifetime or not, either way best to be avoided and sum the totals manually. TFSA, any overage is penalized when the CRA catches it (as I found out).
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Jan 31, 2024 01:56
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priznat posted:So my employer for most of last year is being extremely slow with T4s and this is bugging me. Employer pension contributions in the year generally show up as a pension adjustment on that year’s T4 for my DB pension, which will reduce RRSP room for the year following. I think it’s the same for DC and DB but never checked both to confirm.
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Feb 14, 2024 01:28
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slidebite posted:We used to have our liquid cash savings in a Simplii High Interest (cough) account for several years. When interest rates were super low, I understood rate at the bank being fairly low, but they never raised them any appreciable amount with the prime increases. So late last year, I think Nov, I moved it over to Motive Financial @ 4.1%. Yeah, Motive has one of the most budget interfaces I’ve seen in banking, but as someone trying to save a down payment, can’t beat the rate right now.
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Mar 2, 2024 17:39
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pokeyman posted:They're like holding a bond directly, yeah. Different from a bond fund. I'd put them under "cash" when considering overall allocation. I think main thing with GIC, you are getting your principal back with interest. When you’re getting a bond fund (or an ETF balancing some percentage of bonds and stocks), you will see the bond portion of portfolio reduce in value when interests rate increase. You can look at a bond ETF like ZAG after 2021/22 and see how that ended up impacted when rates bounced up.
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Mar 3, 2024 17:47
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Killingyouguy! posted:Way ahead of you I know it hasn't been updated in a while, but the Canadian Couch Potato site will still likely give you the best intro summary to pretty basic ETF investing, along the lines of questions about stock/bond balance, and some of the associated risks and assumptions. https://canadiancouchpotato.com
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Mar 3, 2024 21:11
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Jenkl posted:I'm not familiar with TD but what I've seen elsewhere is the fees come from the account the trade is being made in. Yeah this is correct. If you are only going to be buying/rebalancing something like $5k once per year, the $9.99 transaction fee isn't that big a deal. TD also offers some broad market E-series funds which can be bought in the TD DI account, but do not have a purchase/sale fee. They do have a slightly increased MER compared to some of the equivalent ETF funds, and need more work to rebalance depending on what your target is. But again, if you are doing a one year lump sum, probably just worth sticking with a familiar ETF like VGRO, VBAL, or similar.
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Mar 5, 2024 02:16
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Nofeed posted:Opposing perspective: Yeah, on $5k, that fee is an instant loss of 0.2% on the contribution, but less on the portfolio as it is growing. I can’t be bothered personally at this point, but I understand that (but also have used Questrade for years as well, and it’s also fine). I will say I like the research stuff within TD DI, but if not interested in that, I don’t think there’s any other value add compared to Questrade.
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Mar 5, 2024 14:16
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to purchase ETFs is highway robbery and unless there is a VERY compelling reason to stay with that brokerage I'd be getting the hell out of there as quickly as I can.
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I’d just say investing solely in the S&P 500 is an active bet that the US market continues to boom as it has in the past set of years. This is a deviation from passive investment “guidelines” fwiw, although only a concern if you care about that kind of thing.
tragic_ethos fucked around with this message at 20:49 on Mar 16, 2024 |
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Mar 16, 2024 19:42
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Femtosecond posted:Is there an ETF for like "these companies don't do dividends just stock buybacks" as that would be the thing you'd want for a TFSA, setting aside the whole fact that you will narrowed your portfolio in a weird way by doing this and could be sub optimal for that reason. Eh, I'm still generally of the mind that worrying about dividend withholding for US stuff is pretty marginal in terms of total gains. The current average yield of S&P 500 tickers is 1.84% per Google, it sucks to be sub-optimal obviously, but likely not worth much mental expense if we're talking a 0.2 to 0.3% loss each year (ie. taking a 30% withholding hit on US dividends rather than 15%).
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Mar 16, 2024 21:35
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Mantle posted:Here's a cost benefit analysis of a hypothetical $200k portfolio fully invested in XAW (https://www.blackrock.com/ca/investors/en/products/272108/ishares-core-sp-us-total-market-index-etf). Thank you for putting in the work  . When I looked through these calculations a decade ago my mental model was it’s marginal gains until you have 7 figures in savings, and I have never had cause to re-evaluate hahaha.
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Mar 17, 2024 15:33
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slidebite posted:I have a question regarding "pension adjustments" and "RPP Contributions" on your T4. Someone should comment if I'm off base, but checking my return, the hypothetical $2,000 RPP (that shows up on a 2023 T4) acts as a deduction directly to your net income in 2023. It does not impact your 2023 RRSP deduction limit, nor does it factor into calculation of the 2024 RRSP deduction limit. If you mean that the $15,000 is the 2024 deduction limit before pension adjustment (based on 2023 income), then your max 2024 deduction would be $15,000 - $10,000 pension adjustment = $5,000.
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Mar 21, 2024 00:39
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priznat posted:So as long as you are less than $2k over your RRSP contribution limit you are not penalized right, does it affect your limit for next year? Yeah, less than $2k is okay, although I believe this is a lifetime limit. If this extra $2k contribution was in the first 60 days of 2024 though, you might not technically be in over contribution territory as you are just using up your 2024 contribution room.
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Mar 21, 2024 20:50
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Femtosecond posted:I was wondering about this... like what happens if you mess up and accidentally over contribute but immediately realize it. Is everything ok if you quickly withdraw? lol The wording is generally you are charged 1% interest for every month you have over contributed to rrsp or tfsa. This is calculated at end of month, so if you over contribute but pull it out before end of that initial month of contribution, there is no penalty. I understand there are ways to withdraw mistaken rrsp contributions without additional tax complication at least, but never had cause to look too much into that.
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Mar 22, 2024 13:42
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