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Hey guys, this thread has been an amazing, eye opening read for me! I'm 23 years old and have been working for three years now. I've been investing in RRSPs with a 5% salary match from my company, but have never really known what to actually invest in, so I let the financial advisor who represents my company do it all for me. After reading about the TFSA I'm thinking I'm also going to start putting some money into that account and invest with TD e-Series. I do have a few questions that I hope you guys can help me out with. My RRSP right now is with TD Waterhouse, and next week is supposed to be switched over to RBCDS due to the companys financial advisor jumping ship. If I stay with TD can I invest in the e-Series funds with my RRSP, or would I have to make a TFSA for that? Another question is if I decided to take my RRSP over to something like QuestTrade (with the free ETF purchasing) could I invest in ETFs just like I would be able to with a TFSA? Right now I mostly want to know if there is any limitations to a RRSP compared to the TFSA since I'm stuck with at least 5% of my salary going into it with price matching, or if an RRSP account is supposed to be investing into something totally different.
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Jan 9, 2014 18:38
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| # ¿ May 17, 2024 14:47 |
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Kal Torak posted:Both the e-series and ETFs are eligible for RRSP and TFSA accounts. You don't need separate accounts to purchase one or the other. Great, that clears up a bunch of stuff. A follow up question about the TFSA. I have about $17k sitting in my regular old savings account for a house downpayment. I'm not sure when I'm buying a house as I'm in no hurry, but it could be as early as this year. If put some of that money into a TFSA and invest in the e-series, can I sell some/all of the funds and withdraw it right away to go towards my house down payment without incurring any penalties? I figure if I can do that it would be much more worthwhile to have my savings sitting in the TFSA rather then the "high" interest e-savings account.
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Jan 9, 2014 19:03
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Kal Torak posted:I think most of the TD e-series funds have an early redemption fee of 2% of the purchase cost if you redeem within 30 days. So be careful about that. Also, keep in mind you are exposing yourself to market risk and there's no guarantee the savings account won't be better on a short term basis. Thanks a bunch Kal Torak, I'll make sure to look into early redemption rules on the funds I buy and weigh my options about putting the savings into the market. I certainly haven't made any final decisions yet, this was more for fact finding and clarity on the subject so I can make the (hopefully) right choice.
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Jan 9, 2014 19:26
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I have a question about one of the stocks I just sold. I use RBC Direct Investing and I had a sell order set at $0.62 for a stock.code:Crell fucked around with this message at 18:10 on Mar 24, 2014 |
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Mar 24, 2014 18:08
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Kal Torak posted:My understanding has always been that as long as the full order is filled in the same day, only one commission should be charged. And you would only be charged multiple commissions if the order was filled over multiple days. The only exception is if you make an alteration to the order then it becomes two separate orders. This is why I was asking the question, I could of sworn I read on an RBC document that they charge one commission for instances like this, but I cannot find the information again today. I'll give them a call after work and see what they say. EDIT: Found it! "RBC posted:How does RBC Direct Investing charge commissions on partial fills? So it looks like I just have to wait until tomorrow and I'll get 10 bucks back. Crell fucked around with this message at 20:21 on Mar 24, 2014 |
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Mar 24, 2014 20:15
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BMan posted:You can achieve maximum laziness and maximum diversification by buying one of these asset allocation ETFs. They are about 0.1% more expensive than holding the multiple funds yourself though. I was just looking at Canadian Couch Potato because I'm starting an RESP for my daughter, and I saw that the iShare balanced/growth has a lower MER than Vanguard. Would the default choice here be iShare if I wanted to do a 40%bonds/60%stocks ETF?
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Oct 29, 2019 21:15
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I just noticed something really cool with my RBC RRSP account, all my TD I-series funds got converted to E-series sometimes in June. Did a little bit more digging and it turns out the TD E-series is now available other places than TD! Going to be switching over tonight.
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Nov 1, 2019 22:12
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I have a RRSP balancing question. I deposit matched deposits with my employer into a RBC Direct Investing account every paycheck, and currently I save the cash for 2 or 3 months then invest, and do a balancing back to my preferred index split. I'm gonna to start investing the cash after every pay check now, but I'm not sure what to do in regards to splitting it up. Should I try and re-balance the portfolio every time, or just split it up 40/20/20/20 every time? In the end this probably doesn't matter to much, but I'd like an opinion from some other people.
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Dec 5, 2019 18:31
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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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My wife is nearing the end of her 18 month maternity leave, and instead of going back to her previous job she's decided to start her own photography business. Just starting small doing outdoor family shoots, while still staying home with our kids during the day. Is there any resourses out there that can help us learn about the tax side of things? I've been doing my own taxes my whole life, and want to try and continue doing that.
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Nov 19, 2022 18:19
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| # ¿ May 17, 2024 14:47 |
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In the last few weeks my mom was given a forced retirement package and now my parents are having to make all their retirement decisions a few years earlier than expected and quickly. Was wondering if anyone had some decent reading material for retirement specific stuff. Like converting RRSP to RRIF and how to manage the RRIF, rules pertaining to withdrawals, what kind of holdings to keep in the RRIF. I want to try and help them out, my mom has a decent pension but their RRSPs have been in terrible Scotia bank mutual funds managed by somone at the bank, and now they're talking to a financial advisor/portfolio manager type guy who just says his fees will be less than Scotia bank. I'm hoping to convince them they can manage this on their own with a little reading and help from me.
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Mar 15, 2024 21:56
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