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- 05 Dec 2023 14:19
- Forum: Under the Mattress: Protecting Your Money
- Topic: EasyWeb Online Banking
- Replies: 162
- Views: 14971
- 04 Dec 2023 16:41
- Forum: Under the Mattress: Protecting Your Money
- Topic: Bribes from Discount Brokers
- Replies: 301
- Views: 24264
Re: Bribes from Discount Brokers
Silly question… If the bribe is deposited by the broker directly into my TFSA account, is that considered as new TFSA contribution? From the WS website: Depending on which accounts you have open with WS, the Bonus will be applied directly into your Wealthsimple account within 10 business days following the end of the funding period. If you have more than one funded Wealthsimple account at the time the Bonus is applied, it will be applied in the following order of priority: Wealthsimple Cash account Non-registered or personal Wealthsimple Managed Investing account Non-registered or personal Wealthsimple Self-directed Investing account Wealthsimple Crypto account Wealthsimple Managed Investing TFSA account Wealthsimple Self-directed Investin...
- 03 Dec 2023 23:02
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: WealthSimple Trade
- Replies: 73
- Views: 10313
Re: WealthSimple Trade
Don't care about the iphone, only the 0.5% cash offer. Doesn't appear you can double dip the cashback.fireseeker wrote: ↑03 Dec 2023 22:13optionable68 wrote: ↑03 Dec 2023 21:36 From Wealthsimple:
Can this Promotion be combined with other sign up bonuses?
No, as a general rule, this promotion cannot be used in addition to any other sign-up bonus, including other promotional offers for signing up for Wealthsimple.
There has been much discussion about this at RFD. WS reps have said the iPhone offer is not considered a "sign-up bonus" because it is also available to existing clients.
- 03 Dec 2023 21:36
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: WealthSimple Trade
- Replies: 73
- Views: 10313
Re: WealthSimple Trade
From Wealthsimple:gsp_ wrote: ↑30 Nov 2023 05:27 Wealthsimple has a boosted referral program at the moment for Premium(100k) and above referrers:
$250 each if the referree deposits/transfers 100k+.
$1000 each if the referree deposits/transfers 500k+.
This can be combined with the iPhone or % based promos currently running.
Can this Promotion be combined with other sign up bonuses?
No, as a general rule, this promotion cannot be used in addition to any other sign-up bonus, including other promotional offers for signing up for Wealthsimple.
- 03 Dec 2023 20:13
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: WealthSimple Trade
- Replies: 73
- Views: 10313
- 03 Dec 2023 20:00
- Forum: Under the Mattress: Protecting Your Money
- Topic: Best Credit Card (2021 - 2025)
- Replies: 515
- Views: 33158
Re: Best Credit Card (2021 - 2025)
YMMV but Tangerine MC, Simplii Visa and Rogers MC are often considered the top 3nielkfj wrote: ↑03 Dec 2023 19:48 I’ve been considering getting a Rogers Mastercard.
I have Shaw mobile and internet service, so I understand that I would qualify for 2% unlimited cash back with this card, and if I redeem the cash against my Rogers bill I would get a 30% bonus, making the cash back effectively 2.6%.
It seems hard to beat. Is there a better no-fee credit card out there?
- 03 Dec 2023 19:31
- Forum: Financial News, Policy and Economics
- Topic: How large should investment assets be for a couple to retire comfortably at 65 ?
- Replies: 23
- Views: 1419
Re: How large should investment assets be for a couple to retire comfortably at 65 ?
Retirement/Senior residences/homes are quite full and I've heard residents pay between $3-6k/mth depending on inclusions
- 02 Dec 2023 13:40
- Forum: Financial News, Policy and Economics
- Topic: How large should investment assets be for a couple to retire comfortably at 65 ?
- Replies: 23
- Views: 1419
How large should investment assets be for a couple to retire comfortably at 65 ?
I'm curious as to your opinions in matters of financial stability for a couple in retirement.
Lets assume you own your home F&C and you decide to live in your current city throughout your golden years.
Are CPP/OAS/GIS enough to live comfortably? Or should they be supplemented/substituted with personal investments in Registered and Non-Registered investment assets (excluding principal residence)?
If you need investment assets, what is the absolute minimum you should have ($) to feel you are financially secure?
I understand those with a work pension (or other guaranteed income) may skew these results
Lets assume you own your home F&C and you decide to live in your current city throughout your golden years.
Are CPP/OAS/GIS enough to live comfortably? Or should they be supplemented/substituted with personal investments in Registered and Non-Registered investment assets (excluding principal residence)?
If you need investment assets, what is the absolute minimum you should have ($) to feel you are financially secure?
I understand those with a work pension (or other guaranteed income) may skew these results
- 30 Nov 2023 16:20
- Forum: Financial News, Policy and Economics
- Topic: Define "rich"
- Replies: 71
- Views: 4268
- 28 Nov 2023 20:16
- Forum: Financial News, Policy and Economics
- Topic: Define "rich"
- Replies: 71
- Views: 4268
Define "rich"
In another FWF post, I noticed some disagreement on the income level that Canadians can considered to be financially "rich"
IMO, I always considered financially rich to be a member of the top 1% of incomes
In a recent article from moneygenius, it was noticed that the average 1% has a gross income of $512,000
Others may consider "rich" to be meaningfully below that, perhaps in the $60-80k range
Or is net worth (or a combination of income + net worth) a superior indication of rich?
What's your definition?
IMO, I always considered financially rich to be a member of the top 1% of incomes
In a recent article from moneygenius, it was noticed that the average 1% has a gross income of $512,000
Others may consider "rich" to be meaningfully below that, perhaps in the $60-80k range
Or is net worth (or a combination of income + net worth) a superior indication of rich?
What's your definition?
- 27 Nov 2023 18:46
- Forum: Retirement, Pensions and Peace of Mind
- Topic: the sweet spot of RRSP value
- Replies: 47
- Views: 4838
Re: the sweet spot of RRSP value
For many of those without an employee pension, one way to minimize an OAS clawback is to retire early and meltdown your RSP to an optimal level before converting to a RIF.
- 25 Nov 2023 11:41
- Forum: Retirement, Pensions and Peace of Mind
- Topic: retirement portfolio
- Replies: 9
- Views: 1043
- 25 Nov 2023 11:37
- Forum: Taxing Situations
- Topic: OAS • Subsidies to rich seniors make no sense
- Replies: 198
- Views: 8465
Re: OAS • Subsidies to rich seniors make no sense
I guess it depends where they live and their individual needs. And also depends on what you define as living "well"
After income tax, that leaves about $60k. Average shelter cost alone would remove half of that. They could reasonably survive, but not so sure I would call that living "well".
- 24 Nov 2023 20:47
- Forum: Taxing Situations
- Topic: OAS • Subsidies to rich seniors make no sense
- Replies: 198
- Views: 8465
Re: OAS • Subsidies to rich seniors make no sense
Yes, however article author used the word "rich"
I don't see any people who earn $82k driving Lambos
According to MoneyGenius $512,000 is the average for the top 1%. Article also provides some other interesting stats.
- 24 Nov 2023 19:12
- Forum: Taxing Situations
- Topic: OAS • Subsidies to rich seniors make no sense
- Replies: 198
- Views: 8465
Re: OAS • Subsidies to rich seniors make no sense
I know someone who is a widow and gets part of her OAS clawed back, and she says $82k/yr is not "rich"
- 20 Nov 2023 10:31
- Forum: Retirement, Pensions and Peace of Mind
- Topic: LIRA unlocking
- Replies: 59
- Views: 5335
Re: LIRA unlocking
IMO, this might make sense if your LIF is very large and you don't mind dealing with the annual admin hassles that have been consistently a problem with TDDI (at least for me). My LIF balance is now under $100k, so the min-to-max spread delta not worth it (for me) at that levelGreatLaker wrote: ↑20 Nov 2023 09:46 Has anyone tried this? I don't see a way to transfer securities in-kind within WebBroker, so seems like it would take a call to TDDI to get it done.
- 19 Nov 2023 18:59
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Is Vanguard still the best option?
- Replies: 45
- Views: 5028
Re: Is Vanguard still the best option?
I still see little need to wander outside of the big 4 (Blackrock, BMO, Vanguard, Horizons) which have sufficient breadth of quality low cost products to satisfy 95% of the investing community.
Change my mind.
Change my mind.
- 18 Nov 2023 22:54
- Forum: Retirement, Pensions and Peace of Mind
- Topic: LIRA unlocking
- Replies: 59
- Views: 5335
Re: LIRA unlocking
Correctfreedom2022 wrote: ↑18 Nov 2023 20:17 I thought we can unlock 50% and transfer to RRSP (RBC DI, for example).
Looks like we have to transfer to LIF first, and then transfer to RRSP.
Thanks in advance.
- 18 Nov 2023 22:54
- Forum: Retirement, Pensions and Peace of Mind
- Topic: LIRA unlocking
- Replies: 59
- Views: 5335
- 17 Nov 2023 15:12
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: WealthSimple Trade
- Replies: 73
- Views: 10313
Re: WealthSimple Trade
Yes, investors who want $USD at WST can transfer actual $USD into WST using Wise or ANY OTHER external method where NG or other methods may reduce/eliminate forex spread.Bylo Selhi wrote: ↑17 Nov 2023 13:05 Re CAD<->USD conversion, at least in taxable accounts one can move cash to Wise, convert there, and then move it back.
- 17 Nov 2023 09:54
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: WealthSimple Trade
- Replies: 73
- Views: 10313
- 16 Nov 2023 21:47
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: WealthSimple Trade
- Replies: 73
- Views: 10313
Re: Bribes from Discount Brokers
Am thinking all this WST functionality chatter should be on its own Wealthsimple Trade thread.
Will move one up.
Will move one up.
- 16 Nov 2023 21:45
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: WealthSimple Trade
- Replies: 73
- Views: 10313
Re: WealthSimple Trade
Its clear there is some pretty good value at WST, especially with the bribes they (and other brokers) offer to get your business, but in order to enjoy free trades, a great app, and excellent high interest cash accounts (which are unlike the Tangerine lottery), they aren't going to have all the bells and whistles that everyone would like and will miss potential business.
Several of my family members are already on board at WST and quite happy.
From my lens, they are missing RIF/LIF accounts and ability to write covered calls
Its still early for WST, and I suspect they have a list of projects which will aim to satisfy new potential clients. But I like the progression so far and am likely to be a client in 2024.
Several of my family members are already on board at WST and quite happy.
From my lens, they are missing RIF/LIF accounts and ability to write covered calls
Its still early for WST, and I suspect they have a list of projects which will aim to satisfy new potential clients. But I like the progression so far and am likely to be a client in 2024.
- 15 Nov 2023 19:17
- Forum: Under the Mattress: Protecting Your Money
- Topic: Bribes from Discount Brokers
- Replies: 301
- Views: 24264
Re: Bribes from Discount Brokers
Ignoring iPhone offer, it seems like the standard Wealthsimple offer is 0.5% at each tier
The $4,000 they offered for $500K this summer (0.8%) was the best I've seen in the last couple years, but I couldn't transfer at that time due to covered calls I had in my account which they are currently unable to handle.
The $4,000 they offered for $500K this summer (0.8%) was the best I've seen in the last couple years, but I couldn't transfer at that time due to covered calls I had in my account which they are currently unable to handle.
- 15 Nov 2023 13:21
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: WealthSimple Trade
- Replies: 73
- Views: 10313
Re: Bribes from Discount Brokers
I suspect they will try several things and see what sticks. Tangerine (ING Direct) had a similar path.Marcus Aurelius wrote: ↑15 Nov 2023 00:25I agree with this impression. I am curious to see if the things that make them attractive right now (zero commission trades, high interest on cash) will actually last. They have dabbled in a lot of things and changed course more than once.
My guess is that the crypto angle eventually fails ... but WST, WSI and WSC survive