Search found 3138 matches

by queerasmoi
26 Mar 2024 13:10
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Best High Interest Savings ETF
Replies: 54
Views: 6056

Re: CASH etf

Old_guy wrote: 25 Mar 2024 15:56 Daughter has cash in TFSA eaning nothing.

Thinking about CASH but it’s invested in high interest savings accounts (31-Dec-2049). What does that mean? The money is invested until 2049?

It’s yielding 5.1%.

Anyone familiar with how it works?

Merged topic due to subject matter - Moderator W
Another option in TFSA might be ZST.L: BMO Ultra Short-Term Bond ETF (Accumulating Units)
It basically behaves like a cash ETF you don't need to reinvest because it keep accumulating instead of distributing. Duration is a fraction of a year. Occasionally there are little wiggles especially when a sudden jerk in interest rates happens but it recovers really fast from the wiggles.
by queerasmoi
26 Mar 2024 13:04
Forum: Taxing Situations
Topic: New T3 requirements for joint accounts [that might be bare trusts]
Replies: 204
Views: 44295

Re: New T3 requirements for joint accounts [that might be bare trusts]

Rob Carrick has posted another article that might be helpful to those still trying to figure out if they are impacted. A guide to family finances and the new CRA reporting rules for bare trusts – are you in the crosshairs? - The Globe and Mail (Not paywalled as far as I can determine) Bare trusts must be disclosed through the filing of a T3 trust income tax and information return and a related Schedule 15 form, both of which can be a challenge to navigate. What-if questions about bare trusts have been pouring in for weeks now, in large part because the CRA has failed to provide a reasonable level of explanatory background. To clarify who needs to file a T3 and who does not, I asked Pam Prior, a tax partner at KPMG in Vancouver, to answer s...
by queerasmoi
23 Mar 2024 21:00
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 515
Views: 33152

Re: Best Credit Card (2021 - 2025)

Insomniac wrote: 23 Mar 2024 13:24
queerasmoi wrote: 23 Mar 2024 13:03
Insomniac wrote: 23 Mar 2024 12:37 The Wealth Simple debit card has a limit of $3K per transaction, $5K per day. That's too low for me.
🎶Hey big spender...🎶
Not trying to be funny or boasting. When I book a holiday, I want to book air tickets and accommodation at the same time. That can easily go over the $5k daily limit.
Fair - for booking travel I would use a proper credit card even if not the optimal exchange rate, because the merchant fees actually buy me some travel benefits.
by queerasmoi
23 Mar 2024 13:03
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 515
Views: 33152

Re: Best Credit Card (2021 - 2025)

Insomniac wrote: 23 Mar 2024 12:37 The Wealth Simple debit card has a limit of $3K per transaction, $5K per day. That's too low for me.
🎶Hey big spender...🎶
by queerasmoi
23 Mar 2024 13:03
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 515
Views: 33152

Re: Best Credit Card (2021 - 2025)

robgizz wrote: 23 Mar 2024 11:39
I have the Rogers WE and I use it for 90% of my purchases. I’m not a Rogers customer. The 1.5% on all purchases still still amounts to a very nice cash back. The other benefits are worth it.
Yeah it'll still be my fallback for general purposes once Brim goes to the dumps. Tang for 2% in 3 categories, Rogers for the rest.
by queerasmoi
23 Mar 2024 01:02
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 515
Views: 33152

Re: Best Credit Card (2021 - 2025)

LOL here I am with my Rogers WE thinking "well yeah the benefits would be great if I am a Rogers customer but I actually *like* having no Rogers services in my life right now and don't strongly want to change that"...
by queerasmoi
21 Mar 2024 12:41
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Preferreds
Replies: 2578
Views: 318325

Re: Preferreds

I'm considering a split corp preferred ETF - Brompton's Split Corp. Preferred Share ETF, SPLT.TO . It's fairly new, June 2023 inception. The current distribution yield is about 6.3%, which is made up of about half eligible dividends and half RoC. So, better tax treatment than regular savings. I wouldn't expect the yield to go down as interest rates go down, as would be the case with HISA rates, at least not to the same degree?? The stock price has been pretty stable....on a gradual incline, actually, up 3.45% since inception. I'm happy as long as it doesn't go down so that I don't lose capital. I wonder if this would be typical with such split preferred ETF? This ETF did not sink in October like the XPF ETF did, in comparison. I don't thin...
by queerasmoi
16 Mar 2024 13:17
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 515
Views: 33152

Re: Best Credit Card (2021 - 2025)

Both the WS and EQ cards are 0% FX and offer cash back, 1% and 0.5% respectively. The downside is that these are prepaid cards so one needs to have cash on hand in order to deal with large purchases. Imagine you're at an international airport and need $n,000 to buy tickets to get home. If it's going to take days to get funds into your account and unhold them, you're screwed. At least you can pre-fund the accounts with a large amount before travelling, earn some interest on it, and then move it out again after you come back. But still an inconvenience. I can instant-load my WS Cash card by VISA Debit from my TD or Tangerine account. Did this several times in Taiwan - loaded the funds 30 seconds before using the ATM and it was fine. In any c...
by queerasmoi
15 Mar 2024 23:56
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 515
Views: 33152

Re: Best Credit Card (2021 - 2025)

BREAKING NEWS!!! According to discussion on RFD , Brim is in the process of committing suicide. They've eliminated the 0% FX on the card and reduced the cash back percentage etc. See also Major devaluation to Brim Financial Mastercards: Lower earn rates and FX Fees introduced Wow, holy crapification. Glad at least that we have until mid-May, cause I am out of town the rest of March and do not have time for this sh!t. My Rogers WE is still active and is converting to the new style of Rogers card. I do not have any Rogers services to get their enhanced earn rate but at least the 1.5% on everything would be better than this chunks-blown version of Brim. And I still have my Tangerine World with 2% on 3 categories. One reason for me to still ke...
by queerasmoi
15 Mar 2024 23:48
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Best High Interest Savings ETF
Replies: 54
Views: 6056

Re: Best High Interest Savings ETF

OK, made a decision. The reason I'd been holding a slice of PSA across the totality of my TFSA, RRSP, FHSA for a while was precisely because at low prevailing interest rates they still had better returns than short bond funds, without the downside risk of what happens when interest rates go up. We've now gone up and plateaued. With PSA losing a bit of yield to the new regulation changes, I went out to survey the landscape and decided on ZST.L. Ultra-short bond ETF with accumulating units, no distributions, just accrues, and in sheltered accounts that is easy b/c no tax consequences. It behaves a lot like a cash ETF because of a 0.38 years duration. Current weighted YTM is 5.27% with 0.16% MER. That slice of my portfolio was previously XSB b...
by queerasmoi
12 Mar 2024 12:36
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Best High Interest Savings ETF
Replies: 54
Views: 6056

Re: Best High Interest Savings ETF

pmj wrote: 12 Mar 2024 10:40 Easiest place I've found to compare yields is BarChart, which provides a table of monthly "dividends" that goes back for years (duration of the ETF?).
This allows calculations and comparisons based on the most recent month, or one's own preference, rather than some unspecified / average / sum / projected / historic / whatever /
EG:
https://www.barchart.com/etfs-funds/quo ... TO/profile

Edit - I believe you need a free account for more than a small number of views.
With the pace of interest changes these days, I'd rather be looking at the underlying yield characteristics of the fund as of today, rather than recent distribution yields.
by queerasmoi
10 Mar 2024 10:39
Forum: Taxing Situations
Topic: New T3 requirements for joint accounts [that might be bare trusts]
Replies: 204
Views: 44295

Re: New T3 requirements for joint accounts [that might be bare trusts]

None of this is making me feel any clearer about whether I'd be impacted if my parent or aunt added me as joint on an account.

The gist would just be that when they need money spent on care or such, I'd be able to spend out of that account. And if they pass away it would be the fastest accessible funds for immediate needs.
by queerasmoi
09 Mar 2024 23:44
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Best High Interest Savings ETF
Replies: 54
Views: 6056

Re: Best High Interest Savings ETF

AltaRed wrote: 09 Mar 2024 22:50 Why would you really care about differences of +/- 15bp or so? Chances are there will be variability between all of them from month to month, or quarter to quarter.
It does seem though that the regulatory change has structurally shifted the placement of HISA vs MMF ETFs, likely permanently. So if I'm going to shift accordingly I should pick the one with the best characteristics.
by queerasmoi
09 Mar 2024 22:36
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Best High Interest Savings ETF
Replies: 54
Views: 6056

Re: Best High Interest Savings ETF

That is actually a good point. It is the underlying ISAs that are holdings in PSA that have been impacted by OSFI changes and not money market mutual funds which are the holdings of MNY Interesting. I do use PSA as a portion of my holdings... basically ever since cash-like funds started outperforming bond ETFs as interest rates started to slip down, half my FI allocation in RRSP/TFSA has been in PSA and the other half in XCB for corporate bond exposure. If I want to just keep that slice in cash-like funds then maybe I should throw it all over to MNY. Hmm, are there any other MNY-like funds in contention that may be fractionally better than MNY? Seems like different money market ETF websites are all using different-looking metrics which kee...
by queerasmoi
09 Mar 2024 15:35
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Best High Interest Savings ETF
Replies: 54
Views: 6056

Re: Best High Interest Savings ETF

chrisw wrote: 09 Mar 2024 13:19 PSA Net Yield is now 4.9%. Should be sort of expected with the recent OSFI changes.
Do those OSFI changes have less of an impact on an ETF like MNY compared to PSA? That might explain the crossover in net yield.
by queerasmoi
08 Mar 2024 12:38
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Best High Interest Savings ETF
Replies: 54
Views: 6056

Re: Best High Interest Savings ETF

Bumping this topic because I'm noticing MNY seems to have outpaced PSA now. If Net means net of fees, then MNY is a better deal. Thoughts?

PSA:
GROSS YIELD
5.06%
(2024-03-07)
NET YIELD
4.90%
(2024-03-07)

MNY:
NET YIELD
5.11%
(2024-02-29)
7 DAY YIELD
5.08%
(2024-03-07)
by queerasmoi
02 Mar 2024 11:30
Forum: Taxing Situations
Topic: Delayed tax statement - MF in a cash account
Replies: 20
Views: 717

Re: Delayed tax statement - MF in a cash account

If you are seriously itching to do your taxes and get your refund, you could look up the mutual fund's reported tax characteristics and attempt to synthesize the likely contents of your T3 on your own, and report that on your return. When the real T3 comes you can look at how far off you were. If the difference is within a few dollars the CRA won't care. If it's more than that you can just file an adjustment.
by queerasmoi
02 Mar 2024 11:26
Forum: Taxing Situations
Topic: New T3 requirements for joint accounts [that might be bare trusts]
Replies: 204
Views: 44295

Re: New T3 requirements for joint accounts [that might be bare trusts]

OK so I don't really know how to process this whole thread... let me just lay out a scenario here.

My aunt is living independently in her home still, age 76. She is very clear she wants to live out the rest of her life in her home and then the nieces & nephew will handle the estate. When at some point she needs care and/or helpers in the house she'll be happy to pay for it.

If she were to add me as joint on a cash account so that, for example, I could keep her bills and helpers paid when she's in less of a position to manage that herself, would that trigger "bare trust"?

And would it make a difference if the joint account is also meant so that when she passes I can immediately access some of it for funeral expenses etc?
by queerasmoi
27 Feb 2024 08:52
Forum: Retirement, Pensions and Peace of Mind
Topic: Partial Transfer of SunLife RRSP While Still Employed Denied
Replies: 18
Views: 954

Re: Partial Transfer of SunLife RRSP While Still Employed Denied

My employer matching plan is through SunLife too. Same deal, the plan stipulates no transfers-out at all while still employed at the company. Our deal is that for contributions up to 6% of income, it's half-matched by the employer. So the "free money" is still worth it, but it gets a little bit of friction from the fees. The specific fees you are paying depend on the deal negotiated with your employer. I'm paying 0.74% Fund Management Fee for "BLK Moderate Balanced". This is not an internal fee, it's deducted monthly from the account (along with an administration fee of a few additional dollars per month). The holdings of this fund are listed as: BlackRock Canada Universe Bond Index D BlackRock CDN US Equity Index Class ...
by queerasmoi
20 Feb 2024 08:14
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2024)
Replies: 200
Views: 16778

Re: High interest savings, GICs and MMFs (2024)

DUCA promo rate has now dropped to 5.25%.
My Tangerine still has a 5.5% offer through end of April, so transfer time yet again.
by queerasmoi
14 Feb 2024 13:18
Forum: Under the Mattress: Protecting Your Money
Topic: Is there a way to reduce hold times on cheques at TD Bank?
Replies: 7
Views: 535

Re: Is there a way to reduce hold times on cheques at TD Bank?

Just a thought... do you have a line of credit or can you get one?
You don't have to borrow anything from it. But if you deposit the cheque direct to the LoC, you can immediately transfer the funds out because you have the credit limit. There is still a "hold", but as long as the cheque doesn't bounce this shouldn't incur any interest charges.
by queerasmoi
08 Feb 2024 19:01
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 515
Views: 33152

Re: Best Credit Card (2021 - 2025)

I got the Rogers WE notice too, but have no Rogers services left. TV is on a contract with Bell (who has a superior TV product frankly), mobile is on a great Boxing Day deal with Freedom. So the offer is not compelling enough to force myself to switch something to Team Red.
by queerasmoi
19 Jan 2024 13:42
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2024)
Replies: 200
Views: 16778

Re: High interest savings, GICs and MMFs (2024)

DUCA has quietly dropped their promo account to 5.50% now, which matches my Tangerine rate that runs through end of April. So I guess any further deposits will go to Tang because it's easier there. Any further drops and I re-evaluate at that time.
by queerasmoi
12 Jan 2024 14:08
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: First Home Savings Account (FHSA)
Replies: 116
Views: 12864

Re: First Home Savings Account (FHSA)

johnny cash wrote: 12 Jan 2024 12:35 WS does not offer GICs. How can my daughter buy a no-fee ISA, PSA, HSAV, or CASH.TO in her FHSA for a 1-2 year period at WS? Are they available at WS?
All the high-interest savings ETFs like PSA.TO, CASH.TO should be available on Wealthsimple Trade. Don't use HSAV - you get no tax benefit in this account and there is an unpredictable penalty built-in because unit creations were suspended.
by queerasmoi
05 Jan 2024 11:32
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: First Home Savings Account (FHSA)
Replies: 116
Views: 12864

Re: First Home Savings Account (FHSA)

DW pulled her 2024 FHSA contribution into a WS account today. They unfortunately took double the amount (ie. $16k). Will call tomorrow as they only have a bot that answers customer service requests right now. The extra withdrawal put a bank account into overdraft and over contributed to the FHSA. Only the correct amount was added by DW (ie. error on their end, she moved $8k). 1) Is it their onus to fix the overdraft issue? Both fees and sending the money back. 2) Can FI's generally fix errors they create in TFSAs, RRSPs, FHSAs? If she withdraws the money herself to fix it is a taxable withdrawal - https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/first-home-savings-account/what-happens-contribute-transfer-too-much.htm...