Search found 626 matches

by peter
01 Feb 2024 22:41
Forum: Under the Mattress: Protecting Your Money
Topic: Best Way to Send Money to the US
Replies: 34
Views: 1784

Re: Best Way to Send Money to the US

heckler wrote: 01 Feb 2024 22:35 Yes, I realize the currency exchange at the big bank will likely hurt.

Ebay? How bad are its fees? The US recipient posts a handwritten limerick for sale for $5k (for example). Although that might be called money laundering.

(Unconfirmed late night musings only, test at your own risk)
Original idea but a non-starter for me, I'm paying an actual business which has real accounting and IRS responsibilities etc :) I'm guessing that would involve a credit card charge of 2.5% plus getting ripped off on the exchange rate for another 2.5% though.
by peter
01 Feb 2024 22:26
Forum: Under the Mattress: Protecting Your Money
Topic: Best Way to Send Money to the US
Replies: 34
Views: 1784

Re: Best Way to Send Money to the US

I got temporarily excited when CIBC introduced Global Money Transfer, just like when I found TD had access to international markets, then got unexcited when I calculated the cost implicit in their exchange rates and the inability to send USD from a CIBC USD account. But I haven't looked recently. A second minor drawback of this transfer is that unlike PayPal or checks it requires bank info from the recipient, which for the only person/business I regularly send USD is a bit uncommon, although I'm sure I could ask for it. Next payment is in July, maybe I'll look into it again. The TD international stuff was hilariously uncompetitive and inflexible compared to IB, but that's a few years ago too.
by peter
01 Feb 2024 20:03
Forum: Under the Mattress: Protecting Your Money
Topic: Best Way to Send Money to the US
Replies: 34
Views: 1784

Re: Best Way to Send Money to the US

I haven't found a better way. Sometimes I bite the bullet and use PayPal at ridiculous costs, sometimes I go through the extra work and get a bankdraft and mail it (and cause extra work for the person on the receiving end). Compared to transferring within Europe and some other destinations from my European account it's a pain and expensive no matter how.
by peter
06 Jan 2024 22:24
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Gildan Activewear (Symbol-GIL)
Replies: 23
Views: 4395

Re: Gildan Activewear (Symbol-GIL)

I have shares from years ago, with a 350% capital gain in a non-registered account, also almost all (gain) from years ago. My standard-size non-registered positions have become bigger over time and this one is below my current standard (so material for me but not particularly large within my entire portfolio). I'm following this thread and the stories in the G&M but not inclined to act.
by peter
18 Dec 2023 12:34
Forum: Financial Planning and Building Portfolios
Topic: Stocks versus ETFs
Replies: 102
Views: 6203

Re: Stocks versus ETFs

Unwise wrote: 18 Dec 2023 12:28 I'm never clear how to treat Berkshire Hathaway when asked a question like this?
It's like having shares in the Borg collective, but still a stock? I think Ghariton missed a common category, with both ETFs and common stocks a significant fraction. Now they're grouped in with other (with Bitcoin and bridges in Florida).
by peter
08 Nov 2023 12:49
Forum: Financial Planning and Building Portfolios
Topic: How do you forecast future tax rates?
Replies: 22
Views: 1596

Re: How do you forecast future tax rates?

Vern1 wrote: 07 Nov 2023 23:51 Thanks. I am on the road but will review your suggestions and get back

What do others do? I would think this would be a big topic in order to understand expected future cash flows

Thanks
Maybe a big topic but not much to say about it? Future is a bit unpredictable. I'm using a wild guess based on average tax on projected retirement income as regular income, which amounts to what AltaRed says above. Will be an over-estimate as it ignores pension splitting and more favourable tax on income from investments, ranging from full marginal rate to very low.
by peter
07 Nov 2023 11:19
Forum: Under the Mattress: Protecting Your Money
Topic: to buy new or used car?
Replies: 1590
Views: 126293

Re: to buy new or used car?

For me much more moderate changes in PHEVs, in addition to actual availability, might also work. Say, a PHEV Subaru Outback? :)
by peter
06 Nov 2023 22:43
Forum: Under the Mattress: Protecting Your Money
Topic: to buy new or used car?
Replies: 1590
Views: 126293

Re: to buy new or used car?

Yes, timing is a bit unfortunate. I agree range will go up, potentially way up. The few cars with a long range now are obscenely heavy, have enough batteries with their environmental problems for several hybrids or 1.5 - 2 'normal' electric cars, or have range by being super aerodynamic (Ionic 6) and are not that useful in the mountains (if only because they're no longer aerodynamic if you put skis or a bike on them and they barely have enough clearance to get into my poorly designed suburban garage). I had a 2006 Toyota Matrix bought new until it got into an accident last year and that Caravan since 2012. I'm happy to consider selling the Subaru, assuming it actually shows up in a timely manner, in 3 or 5 years instead of keeping it foreve...
by peter
06 Nov 2023 20:30
Forum: Under the Mattress: Protecting Your Money
Topic: to buy new or used car?
Replies: 1590
Views: 126293

Re: to buy new or used car?

I really wanted an electric car. I've watched pretty closely what was available and came out in the past two years. My favourite was the Ioniq 5 but range anxiety, clearance and utter lack of availability remained problems. A plug-in hybrid Rav 4 would have been cool but they only exist on paper. A PHEV X5 would have maybe been an option but isn't really my style or suitable for stuffing outdoors stuff in the back.I just ordered a new ICE Subaru Outback. I now plan to replace what is currently our only car (Dodge caravan) with a Mach E or another similar future full electric sedan-ish car in a year, or two or three, depending on how the Dodge does. Currently at 300k km and no obvious problems. Surprisingly annoying, all in all, given the we...
by peter
27 Oct 2023 17:18
Forum: Financial Planning and Building Portfolios
Topic: VWO vs VEE - or, where is CAD headed?
Replies: 11
Views: 967

Re: VWO vs VEE - or, where is CAD headed?

You're exposed to the currencies the stocks that VWO/VEE hold are in, not to the currency of the exchange they trade on. It doesn't matter if you're holding VWO or VEE if they hold the same stocks, except for some non-currency related things like the difference in cost for each ETF, the cost of converting CAD/USD (can be very low with Norbert's gambit or Interactive Brokers), potential exposure to USA estate tax worries if you hold VWO instead of VEE, and extra Canadian tax form for holding over X amount in foreign securities.
by peter
22 Jun 2023 21:43
Forum: Retirement, Pensions and Peace of Mind
Topic: Do I need more than LAPP to retire?
Replies: 11
Views: 942

Re: Do I need more than LAPP to retire?

You might ask, as you're a member of the plan, how well funded LAPP is. I had an eye opening conversation recently with a retired Alberta academic who told me that his plan is only about 65% funded. :shock: It made me wonder if every public sector plan in Alberta was being given way more leeway by provincial regulators than the members know. Not disagreeing with the main point that funding ratios and health of a pension plan matter, but according to the most recent UAPP propaganda (the plan covering the major universities in Alberta) the funding ratios aren't that bad: http://uapp.ca/media/1332/2022-ar-highlights-plus-spring-2023-communique.pdf , at least not the way I read them. As of Dec. 31st 2022, the funded ratio pre-1992 is 36%, post...
by peter
04 Jun 2023 01:13
Forum: Retirement, Pensions and Peace of Mind
Topic: How are you actually using your TFSA?
Replies: 105
Views: 7396

Re: How are you actually using your TFSA?

Not near retirement, although I have spreadsheets with different possible retirement years some of which have already passed. I switched our TFSAs from stocks/equity ETFs to bond ETFs a few years ago when I changed my mind about 100% stocks and am considering moving to 75% stocks. Kind of complicated overall financial picture between me and spouse (not compared to some people here with companies owning companies owning real estate rented out to a 7-11 or so), but one issue is no meaningful RRSP room, which makes holding bonds not terribly attractive (even if bonds were attractive in themselves).
by peter
17 May 2023 10:56
Forum: Financial Planning and Building Portfolios
Topic: Outstanding Financial Pornography
Replies: 1024
Views: 258259

Re: Outstanding Financial Pornography

formerpatriot wrote: 17 May 2023 10:31
Flaccidsteele wrote: 17 May 2023 09:53 Net worth to enter the 1% (amounts in USD)

1.Monaco: $12.4 million
2.Switzerland: $6.6 million
3.Australia: $5.5 million
4.U.S.: $5.1 million

25.Philippines: $52,000

https://fortune.com/2023/05/16/us-one-p ... australia/
Where is Canada on that list?
Clickbait from Fortune with no link. Comes from
https://www.knightfrank.com/research/ar ... obal-top-1

Canada isn't on the list, it's 'selected countries' only.
by peter
01 May 2023 18:53
Forum: Financial Planning and Building Portfolios
Topic: How many of us have pensions?
Replies: 42
Views: 3441

Re: How many of us have pensions?

AltaRed wrote: 01 May 2023 18:05
peter wrote: 01 May 2023 17:57 What does 'employer-provided' mean? I pay into a partially indexed DB plan jointly sponsored by several employers and their employees, as far as I understand it.
OMERS and LAPP would be 'several employers' but each is still an 'employer' plan.
Works for me.
by peter
01 May 2023 17:57
Forum: Financial Planning and Building Portfolios
Topic: How many of us have pensions?
Replies: 42
Views: 3441

Re: How many of us have pensions?

What does 'employer-provided' mean? I pay into a partially indexed DB plan jointly sponsored by several employers and their employees, as far as I understand it.
by peter
03 Feb 2023 11:45
Forum: Retirement, Pensions and Peace of Mind
Topic: Early retirement and credit checks
Replies: 37
Views: 1556

Re: Early retirement and credit checks

A minor nitpick on a couple of the previous posts reporting a numeric credit report. That is your credit score. What is the Difference Between a Credit Score and a Credit Report | Equifax On the other hand, your credit score is a three-digit number, typically between 300 and 850, that represents your overall credit risk at a glance. <gratuitous plug> I know this because I've been working on a new wiki article, credit score , and updating the credit report wiki article. </gratuitous plug> Sorry for the interruption. Carry-on. Even more minor nitpick: CIBC reports a credit score on a scale between 300 and 900, not 850. I can't find what they report exactly but presumably either Transunion or Equifax. I'm sure the 'typical score' is between 3...
by peter
25 Jan 2023 18:19
Forum: Financial Planning and Building Portfolios
Topic: Norbert's gambit - Can$ to US$ or vice versa
Replies: 1785
Views: 324538

Re: Norbert's gambit - Can$ to US$ or vice versa

GandalftheWhite wrote: 24 Jan 2023 16:33 Ok, so I have read through many pages of this topic and am preparing for my fist Gambit.

I need to convert mid 6 figures CAD to USD in the next 2 to 3 months.

Thinking my strategy would be to put in stink bids for DLR on days/weeks when the CAD is stronger, perhaps in tranches of low 6 figures.

Rinse and repeat till desired total is acquired and then sell DLR-U at my leisure, in one tranche, as the FX rate is fixed at that point.

Looking for commentary as to flaws with that strategy (other than funds sitting around waiting for a stink bid to be accepted), or ways to improve it.

Sincere thanks for any input received.
How do you know when the CAD is stronger?
by peter
27 Dec 2022 09:26
Forum: Financial Planning and Building Portfolios
Topic: Multiple tddi accounts??
Replies: 9
Views: 1154

Re: Multiple tddi accounts??

jambon wrote: 26 Dec 2022 21:08 2.5 hours +0.5 hours and we finally get the accounts opened. I ended up opening two informal trusts for my kids and one trading account for myself. It was made more difficult because the guy didn't know how to do some things and he also made a few input errors.

I was told that all the accounts are eligible for the promo. We'll see I'm a few months. I'll also auto pay $100/month to get $50 bonus per.year for up to $5050 bonus.
That's some loyalty, if you plan on getting to $4750 by $50 year annual bonuses ($5050 - $300 quoted above). Might need more than an informal trust.
by peter
21 Dec 2022 19:21
Forum: Retirement, Pensions and Peace of Mind
Topic: Income replacement ratio
Replies: 28
Views: 2141

Re: Income replacement ratio

longinvest wrote: 21 Dec 2022 19:05 Unfortunately, I can't read the article; it's hidden behind a paywall.
'Article' is a big word. Bruce's use of 'piece' above is more appropriate, as in a small piece of what could be an article. A bit like the other random 3-sentence 'pieces' from Vettese. The only interesting thing in it is a graph with distributions in some averaged and mostly useless way.
by peter
15 Dec 2022 21:55
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Depositing USD cheque
Replies: 10
Views: 493

Re: Depositing USD cheque

Koogie wrote: 15 Dec 2022 21:45 There should still be a mandatory holding period. Banks don't like to release funds before the paper IOU from an American bank actually clears.
There used to be, up to two weeks or so, but I haven't had any holding periods in years. Maybe because the amounts tend to be small compared to the balance on and traffic through my CAD account? Not sure.
by peter
15 Dec 2022 21:50
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Can one "pay bill" CAD into a CIBC Investor's Edge brokerage account?
Replies: 50
Views: 2784

Re: Can one "pay bill" CAD into a CIBC Investor's Edge brokerage account?

CIBC has TD, BMO, RBC, Scotia brokerages and lots of other stuff from those banks as possible payees. Still a daft system, why can't we have a universal IBAN-like interface for any kinds of transfers?
by peter
15 Dec 2022 21:44
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Depositing USD cheque
Replies: 10
Views: 493

Re: Depositing USD cheque

I am about to receive a USD cheque from a US bank. Ideally I would like the money to be deposited with Questrade but turns out they only accept cheques from Canadian institutions. I know Canadian banks accept USD cheques from US banks but do I need a separate USD chequing account with them to avoid conversion? Is this even possible? I have a CIBC USD checking account for this. Straightforward deposit of USD from any US source as well as international banks (Singapore, Hong Kong, others), although you have to go to a branch as the cell phone app online deposit doesn't work. I've also deposited USD cheques to a CIBC CAD account in the distant past, which wasn't a problem but gave the usual lousy exchange rate. I generally use the USD account...
by peter
07 Dec 2022 23:32
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Can one "pay bill" CAD into a CIBC Investor's Edge brokerage account?
Replies: 50
Views: 2784

Re: Can one "pay bill" CAD into a CIBC Investor's Edge brokerage account?

Wing wrote: 07 Dec 2022 17:22 I think CIBC IE is getting high popularity recently is due to the sale of HSBC to RBC. Currently a bank brokerage that's comparable to HSBC Investdirect is CIBC IE.

I talked to CS about funding the account for ones without CIBC bank accounts. It currently takes 9 business days (yes, nine) to link a non-CIBC bank account to the brokerage account.
That seems unreasonable for transferring money but I'd interpret 'link a non-CIBC account to the brokerage account' as a one-time setup.
by peter
06 Dec 2022 23:24
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Can one "pay bill" CAD into a CIBC Investor's Edge brokerage account?
Replies: 50
Views: 2784

Re: Can one "pay bill" CAD into a CIBC Investor's Edge brokerage account?

Sorry, maybe I just don't know how to search. These 2 topics' latest messages were back at least 4-5 ago, so I guess this brokerage is not a popular one on this platform. Admin if you don't mind to merge to anyone of these two threads. Also so my original question, "bill pay" is not an option for funding the IE account. It sounds like you want both a CIBC bank account and an Investors Edge account. On my CIBC bank account "CIBC INV.EDGE/PRO INV" is a possible payee for bill payment, and asks for an 8 digit IE account. As someone above pointed out, it's trivial to transfer cash from/to a CIBC account from within IE and I never looked at bill payment for this. I do use bill payment to transfer money from CIBC to TD non-re...
by peter
10 Sep 2022 16:22
Forum: Retirement, Pensions and Peace of Mind
Topic: Seeking creative advisor
Replies: 10
Views: 1104

Re: Seeking creative advisor

Perhaps the concept of a 'creative' advisor is flawed. You seem to be in a rather cookie-cutter situation, not taking into account your own approach. The idea of multiple risk profiles may make sense if you have a short-term goal like a house, in which case common advice is to keep money separate in HISA or GICs, but other than that you have one financial plan. Multiple risk profiles seem to me would quickly devolve into mental accounting and an overly complex portfolio with conflicting goals. Playing with Longinvest's spreadsheets might be educational or at least entertaining.