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I have $5500 contribution room left in my TFSA and buy TD e series index mutual funds. With the market down this far would it be a good time to max that out? My other idea would be to do 500 a week for a couple months to spread out any big fluctuations.
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Dec 25, 2018 04:33
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| # ¿ May 22, 2024 07:16 |
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Mantle posted:Assuming the ~$60k remainder of your TFSA is fully invested, why fret about market timing your last $5500 when you are likely to be sub optimal anyways?
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Dec 28, 2018 05:14
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Hello, I have a question about what to do with my emergency fund. I currently have it sitting in a "high" interest savings account getting 0.1% per month at TD. The benefit is it's easily accessible but it's pretty frustrating having it sit there doing nothing. I'm trying to find alternatives like a cashable GIC but the ROI on everything seems pathetic. The other option I am considering is apply for a line of credit to have ready in an emergency and use the cash currently on hand to top up my RRSP investments. TFSA is already maxed. Are there any other ways to go?
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Jul 14, 2021 09:15
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Nofeed posted:You could try a high(er) interest savings account with an online bank. Comparisons HERE! Those rates are much better. My only concern is if I'm in an emergency is it easy to access or move funds around if I have my emergency fund at a different bank than everything else. I guess in the end it's one more card or login to have. I'll think about that one, thanks.
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Jul 14, 2021 09:31
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Cold on a Cob posted:I keep 25% of my emergency fund in my chequing account and the rest in my TFSA holding VGRO. That way I have instant access to some of my money, the rest gains a lot better than 1.25%, and I don't have to fart around with extra accounts or worse, shuffling things around chasing temporary bonus interest. I consider the lack of interest on the "dead" 25% a hedge for the rest, though doing this means my banking fees are waived so that's nice. This does obviously carry more risk though.
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Jul 14, 2021 14:40
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Well this may just be confirmation bias but I appreciate people validating my plan. Time to top up that RRSP! As long as I have 10k liquid I can't imagine too many possibilities where I couldn't get by on LOC or credit card until i free up funds from my TFSA. I had in my mind the worse case happening to a family member a few years ago where she needed emergency surgery on vacation in Mexico and the hospital wouldn't admit her without putting up a huge sum as collateral while waiting for travelers Insurance to get worked out, so it ended up being a few scared people spreading out a bunch of money on a few credit cards just to get the process started.
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Jul 15, 2021 05:40
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I currently have a TFSA and RRSP through TD and have a web broker account. I was doing the Canadian Couch Potato TD e-series portfolios years ago but I have neglected the account for a few years and think I want to change to ETFs to avoid having to rebalance. It looks like every purchase will be $10. I could potentially contact TD and covert it to a easytrade account to avoid the fees, or transfer everything to wealth simple but I'm not sure it's worth the extra hassle when I just want to top up the RRSP and TFSA annually when I get additional contribution room. Does anyone have experience with the TD web broker interface? Lets say I have $5000 of contribution room in my TFSA and I want to buy XGRO, do I simply divide $5000 by the current price of $27.18 and therefore purchase 183 shares? If so does the trade fee come out of my main TD account, or the TFSA? Also the purchase interface mentions the MER, so do you need to keep some buffer as cash to cover that? Considering I have this many unknowns I thought about just going into the bank and getting them to take care of the investments but hopefully once I understand these quirks I can just buy ETFs once a year and save some fees.
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Mar 4, 2024 22:45
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Jenkl posted:Good info tragic_ethos posted:Good info Thank you both!
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Mar 5, 2024 03:55
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Nofeed posted:Opposing perspective: Yeah I might do this. I can possibly set up a DRIP to automatically reinvest the dividends without extra fees, but if not, I'll move to questrade or wealth simple because at that point it would be a lot of extra fees.
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Mar 5, 2024 08:27
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I was able to up my limit to 10k a day a while back but they really impressed on me they aren't responsible for money being sent to the wrong person through a typo. It's a big liability.
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Apr 29, 2024 20:00
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| # ¿ May 22, 2024 07:16 |
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VelociBacon posted:That's just it though, they don't carry any of the liability and can't even intervene to stop an autodeposited transfer so I don't get why they care at all. These are the same people (banks) that are happy to charge what they do on credit card interest, they aren't primarily acting in the interests of their patrons anyways. Yeah, I meant it's a big liability on the individual. Easy to send money and no recourse if mistakes are made.
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May 3, 2024 14:38
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