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rouliroul posted:Not sure why no one ever mentions labor sponsored funds in any canadian investment threads and blogs anywhere. The extra 30-35% tax credit makes it a no brainer imo. Why am I just hearing about this!?!? Shofixti posted:Ah good catch. Didn't realize the ETF purchases won't qualify. I'm not planning on buying any NVIDIA or weed stocks so I guess the promotion isn't useful. I emailed Questrade asking them about this specifically when I opened my account in the last year, and they told me free ETF purchases qualify as a commissionable trade.
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Jan 19, 2018 01:18
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Mezzanon posted:Holy poo poo I'm pretty sure I'm about to get hosed in the rear end on taxes this year. Your income is 41500, why do you think your marginal rate is 30%? My estimate is you owe about 500 bucks, exactly depends on province, etc.
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Feb 13, 2018 02:11
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Jordan7hm posted:In Quebec the marginal rate is nearly 30% at that point and he’ll owe more than 500$. Kinda depends where he is. Thank you, I knew the provinces varied I did not realize it was by that much.
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Feb 13, 2018 23:35
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Tangerine Interac e-transfers are not accepting correct answers... Apparently I'm not the only one either. I've literally never seen a correct password fail before. I'm pretty embarrassed to talk about, since if you told me that my instincts would be "obviously you typed it wrong", nine times... And of course their wait times are monstrously long. I just want my three dollars back, damnit! Venting over, now a question: Does anyone have any experience with a "spouse has bad credit, I have good credit - we want a mortgage" situation in Ontario? I'm sitting in that boat wondering how to approach this. Is this just going to be a "go in and talk with the lender" type situation? This would be my first mortgage, and I figure I'd have to disclose that I have a spouse, her credit/income, even if she's not on the mortgage... Sorry if this is a housebuyingthreadquestion.
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Jun 2, 2018 15:54
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HookShot posted:Yeah, but the NSF fee says it was for a bounced PayPal payment. Please let us know if their support helps you out. My spouse is looking to go to Tangerine, but I and many others seem to be having a bunch of problems lately... I'm wondering if the honeymoon is over.
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Jun 16, 2018 00:22
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HookShot posted:Yeah, I'll let you know for sure. I'm not impressed right now, I'll tell you that. They did refund me the fees for my issue, but they gave me attitude and were all like "we want to stress this is technically Interac's fault and we're being super nice by refunding this, we're totes courteous ok?!? You'll have to call them next time." If I have another issue with an e-transfer I'm closing the account immediately. There are two reasons I want to stay with them: I've saved like two hundred in fees/bonuses over the last year and a half, and I like their credit card. I find it easier to have my primary credit card at the same place I do chequing, but unreliable e-transfers and slow, sassy service will be deal breakers before long. I also keep my scotia account active for any real banking I need to do. I can't comment on their service: in over a decade of using them, I'd literally never needed service. From this and my focus on low fees, you can imagine my banking needs are fairly straight forward. Hacks aside, is Simplii any good? They're the only competitor in that space, right? Or am I just baiting more trouble by cheaping out on fees...?
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Jun 16, 2018 02:51
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HookShot posted:Also TD forced me to enable two-step authentication when I logged in today. Banks already let you set travel notices, no? I wonder if they had the foresight to allow temporary disabling of 2FA, and connect it to a travel notice (spoiler: I doubt it).
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Jun 16, 2018 15:51
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Evis posted:It takes a long time before the fees paid to the broker outweigh the matching. I just accept it and have been trying to convince my employer to find a better option. I did this calc when I started at my job, and actually almost hit the "no match better" category, at least on a chunk of it (scaling match rate). Wouldn't have lasted that long, but it taught me it's worth doing the calculations - and I'd add my fees were under 1%. It may be worth taking the time to do this, Bajaha, especially at 2%+.
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Jun 19, 2018 01:35
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Evis posted:Because you mentioned this, I just made up a spreadsheet for my case which indicated the fees would have to be at about 4% before it would be better to not take the match in my case. It's one of those things where saying "take the match" really is good general advice, but for younger folks, partial matches, or particularly high fees, it can work out to not match. In my case I believe it was the portion that was a 50% match, on .75% fees vs a couch potato etf portfolio, worked out to no match being better for horizons over roughly 36.5 years, and I was sitting at like 36.7. It would've been better to not take the match for a few months (but since I could only change my match once I year I just went with it). If I were 5 years younger when the match started it would've been a different story. It's also worth adding if you're paying fees to buy the etf it would've been quite a bit different... so the simplicity of "just take the match" can have value too.
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Jun 21, 2018 03:59
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Lexicon posted:Jenkl can you post your workings because that sounds suspect to me Kal Torak posted:Me too. Great instincts. I was mistaken on those figures. I went back and checked, I had confused two different retirement benefit matches. The 37 year figure was from a 25% match (I get on excess over 3%), not a 50%. My apologies for misleading anyone. But, assuming 7% real return for both portfolios, and a .76% fee on the match, vs .11% fee on an etf portfolio, $1000 would be worth $$11,737.30 after 37 years, vs. $11,767.165 for the no-match. So any deposits made 37+ years from retirement would be better unmatched with lower fees. 37 years is a long time, but relevant assuming 65 retirement age - anyone 28 and under would want to skip this 25% match. It's interesting to note if you're actually paying 2%+ in fees, a match of 25% is not that great - the crossover point is something like 12.5 years, so someone in their 50's would still be looking at skipping the match. Even with a full 100% match, at 2% fees, the crossover is ~39 years, so again someone in their early 20's would want to consider passing on the match for a few years (assuming they have the discipline). If you can actually transfer out, none of this is really relevant. Just eat fees for a year and transfer to something better. I'm locked in on the 100%/25% match program (but not on the 50% match program). *Note I've smoothed over some other approximations, like assuming you can buy ETFs for free, that there's no significant drag due to not being able to buy partial units in the ETF, and so on. I'd love to hear if you feel those are significant. Edit: I feel it's still worth saying, that "take the match" is still probably the most reliable piece of advice you can give someone planning on retiring, who has that option. I bring up "do the calculations" mostly because this is BFC. I wouldn't bring this up to most people who ask me about retirement planning, nor should you. Jenkl fucked around with this message at 00:35 on Jun 22, 2018 |
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Jun 22, 2018 00:31
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Methanar posted:With the impending global economic collapse looming, what should I be doing with my money? Wowee. You obviously want to time the market. You have zero trust in the government. Your accountant sounds incompetent (hint: accountants are not economists, politicians, or even investment advisors). You don't want to go with the guaranteed gain (paying off your mortgage). And you're leaving town in a couple years? You're a perfect bitcoin candidate.
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Jul 14, 2018 01:59
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Is there any reason to be shopping around for a standard line of credit? I've heard there's rarely much difference between banks.
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Aug 2, 2020 13:20
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I use tangerine and had that happen. It was skipthedishes. It was very odd, since I'd used them a bunch before. They told me they'd been getting a ton of scams recently so they started pre-blocking. It was not an ideal experience, but the cashback is legit, and I've not had it happen again yet. The one time I legit had fraudulent charges they handled it very quickly and easily. Also, no fees is nice.
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Aug 21, 2020 03:02
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Yep, you can check out hxq.u to see it without the currency impact.
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Aug 24, 2020 01:12
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Anyone else have that free access to CreditView Dashboard? A Transunion thing? I've noticed that, if I "simulate" my credit score with literally no changes, it goes up 20 points. I've also noticed that Transunion does not know about my mortgage apparently. I'm waiting on my free Equifax report to see if it's both.
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Aug 27, 2020 22:25
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cowofwar posted:Tangerine is offering a VISA debit upgrade to client cards. Don’t accept it. When a credit card incurs fraudulent transactions you have a lot of protection and aren’t out the money. If your client card/chequing account/savings account gets a fraudulent transaction then you’re hosed until the investigation concludes in your favour (it wont). Never use VISA debit. Only use your client card at bank based ABMs. Ah poo poo too late for me. That said I don't ever use the visa debit feature tbh. I don't think there's any marginal risk. Covids got me so bored I said yes for the excitement of getting mail.
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Sep 20, 2020 02:36
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Shofixti posted:A GIC matured containing money that I'm eyeing for a possible downpayment one day. I have no idea when I'll be accessing this money - unlikely sooner than 5 years but I honestly don't know. An eq savings account is your best bet. If they tank the rate (1.7%) it's liquid so you can go to your next best option then. I think there are some competitors with tfsa alternatives that might be better, but you'd need to check. Besides, even after tax that 1.7 will be better than most. That is better than any government bond you could get right now.
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Sep 27, 2020 22:30
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Cold on a Cob posted:That said definitely put 20% down if you can, avoiding cmhc insurance fee is worth it. I wouldn't be so sure. I think it really depends. Looking on ratehub, cmhc charges a bank 60 bps to insure a loan with a LTV up to 65%. Effectively this means a bank might pay 0.6% to cmhc to cover the risks on loans that have only paid down less than 65%. So assume a bank wants very much for their loans to be insured. If you put down 19 percent the borrower pays 2.8% cmhc insurance bank pays nothing. If you put down 35% bank pays 0.6% borrower pays nothing (directly). High level, bank might be willing to give you a rate 0.6% lower to reduce your downpayment. You have to add 2.8% to your loan, but save 0.6% a year for 5 years. I know there's a lot of what ifs and assumptions that would go into that, but I do think it's worth looking into.
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Oct 7, 2020 01:03
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cowofwar posted:They need to talk to an advisor because their portfolio doesn’t match their risk profile. Don’t be their advisor. Why do they need to pay 2% to take a short quiz that tells them they should be conservative-moderate not balanced-growth?
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Oct 15, 2020 01:21
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odiv posted:So that op can be clear of any blame. That's an expensive way to avoid blame, but I dig it. If ops relationship with relative is loose enough that they're just finding out it may not be strong enough to be mixing finance into it. Treasuries and highly rated bonds are not yielding more than a HISA like eq (@ 1.5% now). You'd need to be taking on at least some risk. Also I'd point out that bond etfs do not really behave exactly as you'd expect, and can be sensitive to interest rate movements and demand. If you're looking to lock in certain yields you may be better off looking to hold bonds directly. Edit: that sounds cool Luke I'd not heard of that! Gonna check it out.
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Oct 15, 2020 02:18
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Buy/hold wisdom notwithstanding, recognizing the effect one particular world event is having on your ability to make financial decisions and choosing to sit out for a specific timeframe does not prove anything. Back of the envelope (rough) math to make a point: average return is 7%. US elections happen once every 4 years. If they react this way, each time (sitting out 3 months) they give up 1.75% return, every 4 years, instead of 2% every year. Of course it's much more likely they have or will react emotionally to other factors and you're right. I just really, really hate the advisor industry - the incentives are completely hosed up.
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Oct 15, 2020 02:46
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pokeyman posted:Returns are nowhere near uniformly distributed over time. You only get the average return if you stay invested. Being out of the market on the four days that effectively contribute the year's net return will cost you much more than 2%. I know. I said back of the envelope. Besides, the opposite is also true. We, rightfully so, have a bias towards couch potato style investing around here, but if you were actively managing your risk, sitting out during a time of great uncertainty is basically what it would look like. I don't think you'd be picking up tips from a goon at the Thanksgiving table though if you were good at this already.
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Oct 15, 2020 13:23
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If I recall correctly bombardier sold off almost all of its lines of business and only makes, I want to say, small-mid sized plane engines for private jets?
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Oct 23, 2020 01:19
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pokeyman posted:The fun thing with a HELOC (as I understand it, I don't have one) is the lender can call the loan or change the terms at any time, which would make me reluctant to rely on it in an emergency situation. I'm glad someone mentioned this. Maybe I'm just paranoid, but the situation where a bank is calling the loan is probably very similar to the economic downturn that has you relying on it.
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Dec 7, 2020 04:19
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Yep how much room you've gained and used are two separate boxes to fill out - you can earn and defer.
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Dec 16, 2020 00:32
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To be fair they post a website link repeatedly that does clearly say that, and an example. But yeah it is a bit odd they don't put those factors as a line item so it's crystal clear it impacts the calculation. Looks like simple is better for me, without rent it's gonna be hard to beat. Not that I'm complaining at least something in this country benefits a renter over an owner.
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Dec 18, 2020 19:43
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Sassafras posted:You had to notice that it was missing for it to accomplish anything, of course, so just deleting it without warning was a pretty funny way for it to go. I almost had a panic attack thanks to these idiots.
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Dec 24, 2020 02:26
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drat. Studio Tax going pay to use. Still, $15 bucks is not bad. Might just pay up, especially given the free filings I've had in the past. Is there a free alternative that anyone uses?
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Jan 6, 2021 16:04
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redbrouw posted:Asking for 90 days of bank statements from the other side of the world in an attempt to do the job of FINTRAC and then claiming it's Canadian law is just utterly bogus, so I'm glad we're not with them now. What? Are you just being pedantic? They do have a legal requirement to report suspicious transactions to FINTRAC.
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Jan 20, 2021 22:07
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Yeah man I'm not trying to say this isn't annoying or bad business or unreasonable. Just that them thinking it's the law is pretty normal, whatever their legal team told them counts as fulfilling their duty to FINTRAC is what they go with, even if its harsher than competitors or out of date.
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Jan 21, 2021 15:35
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A "good life insurance plan" depends entirely on your needs. For most of us, that means we have a spouse who we want to not have a mortgage in case we die, and the best plan is the cheapest term insurance product you can find, covering the remaining term of your mortgage. If you get benefits through work, keep in mind that younger, healthier employees with fewer dependents typically subsidize the rest. If you are the former, avoid buying additional insurance through your benefits. If the latter, go nuts. Additionally, consider if work provides some baseline and include that in your assessment of how much you need.
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Sep 25, 2022 20:46
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pmchem posted:Hey Canadians, If the housing bubble here ever pops well let you know, lol.
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Nov 20, 2022 01:15
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Arc Hammer posted:I have a question regarding documents for renting. I'm filling out an application and the landlords are asking for me to include a credit report. I went online to Transunion, made an account and downloaded a consumer disclosure pdf with my info on file. Is this what they need or is it something else? The document says it should only be for personal use so I don't know if it's actually what is needed for the rental application or if the rental application is using muddied wordings and I actually need a different piece of documentation for my credit info. I haven't rented in a few years , but at that time i consented to let them do a credit check, but never had to give them one myself. I happen to have the one free per year copy you can get, but if I didn't and were in your shoes, that online report is what id likely give them (assuming just asking them isn't feasible, I know how some rental markets are right now). And yeah, your tenant rights are zilcho if your landlord lives there. 😭. Don't rent with a landlord, or a building newer than 2018, if you can avoid it.
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Nov 22, 2022 02:22
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Yeah that kind of rule of thumb thinking only applies when interest rates were basically zero and equity returns were thirty billion percent. You really need to consider your own risk tolerance and situation.
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Nov 26, 2022 16:23
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You're not wrong, but if you read advice that's "borrow at 3% to go earn 7%" and you're like "awesome idea", but then you look and borrowing rates are 8% while equities are an extremely uncertain 7% still, and you do it anyways... Well that's on you.
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Dec 4, 2022 16:43
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tagesschau posted:This goes for housing and not just equities, by the way. Some Canadians are about to get hands-on experience with this fact. Same folks whining that the mortgage stress tests were unreasonable 
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Dec 4, 2022 22:58
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Nobody knows for sure since they don't publish hard and fast rules. But from what I've heard frequency is the biggest trigger for getting a letter from the CRA about what's going on in your TFSA. If I was trading the same security less than once a month, regardless of what it was, I would not be concerned. And from the various stories I've read, there's a lot of room above that before poo poo gets dicey.
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Dec 23, 2022 21:19
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The structure of that RBC product is incredibly confusing. It has to be purchased through a licensed advisor, and seems to be structured like a mutual fund, but does not report anything that would be required of a mutual fund.
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Feb 7, 2023 15:52
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And call them immediately. They are about to be extremely busy.
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Feb 17, 2023 03:24
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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. Haven't heard anything, but that sounds like "get them in the door" talk.
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Feb 18, 2023 21:22
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