Search found 1779 matches

by optionable68
05 Dec 2023 14:19
Forum: Under the Mattress: Protecting Your Money
Topic: EasyWeb Online Banking
Replies: 162
Views: 14971

Re: EasyWeb Online Banking

Koogie wrote: 28 Nov 2023 18:02 Yabbut it's prettier on a phone now and you can add your pronouns... :roll:

Priorities.
Stunning. Brave.
by optionable68
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...
by optionable68
03 Dec 2023 23:02
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: WealthSimple Trade
Replies: 73
Views: 10313

Re: WealthSimple Trade

fireseeker wrote: 03 Dec 2023 22:13
optionable68 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.
Don't care about the iphone, only the 0.5% cash offer. Doesn't appear you can double dip the cashback.
by optionable68
03 Dec 2023 21:36
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: WealthSimple Trade
Replies: 73
Views: 10313

Re: WealthSimple Trade

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. :wink:
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.
by optionable68
03 Dec 2023 20:13
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: WealthSimple Trade
Replies: 73
Views: 10313

Re: WealthSimple Trade

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+.
Link?
by optionable68
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)

nielkfj 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?
YMMV but Tangerine MC, Simplii Visa and Rogers MC are often considered the top 3
by optionable68
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 ?

ski_and_music wrote: 03 Dec 2023 19:25 Problem is most people 65+ pay zero rent....
Retirement/Senior residences/homes are quite full and I've heard residents pay between $3-6k/mth depending on inclusions
by optionable68
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
by optionable68
30 Nov 2023 16:20
Forum: Financial News, Policy and Economics
Topic: Define "rich"
Replies: 71
Views: 4268

Re: Define "rich"

active wrote: 30 Nov 2023 14:26 All you need is LOVE.
Lennon wasn't wrong ... but someone once said "love don't pay the rent"
by optionable68
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?
by optionable68
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.
by optionable68
25 Nov 2023 11:41
Forum: Retirement, Pensions and Peace of Mind
Topic: retirement portfolio
Replies: 9
Views: 1043

Re: retirement portfolio

demann wrote: 25 Nov 2023 10:22 I'm looking for advice on how to structure our portfolio to provide a sustainable and tax efficient income.
You have done well for yourself. A small investment in a reputable fee-for-service financial advisor would likely serve you well in your retirement.
by optionable68
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

AltaRed wrote: 24 Nov 2023 22:07 If a Canadian senior cannot live well on $80k per year, I would submit that individual has a spending problem, not an income problem.
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".
by optionable68
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

Chuck wrote: 24 Nov 2023 20:08 It's not - 'I need assistance, I can't pay my bills' country either.
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.
by optionable68
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"
by optionable68
20 Nov 2023 10:31
Forum: Retirement, Pensions and Peace of Mind
Topic: LIRA unlocking
Replies: 59
Views: 5335

Re: LIRA unlocking

GreatLaker 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.
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 level
by optionable68
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.
by optionable68
18 Nov 2023 22:54
Forum: Retirement, Pensions and Peace of Mind
Topic: LIRA unlocking
Replies: 59
Views: 5335

Re: LIRA unlocking

freedom2022 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.
Correct
by optionable68
18 Nov 2023 22:54
Forum: Retirement, Pensions and Peace of Mind
Topic: LIRA unlocking
Replies: 59
Views: 5335

Re: LIRA unlocking

hamor wrote: 18 Nov 2023 15:03 thanks all

Is there any potential downside to converting LIRA to LIF (I assume LRIF?)?
Fees?
I converted both a Provincial and Federal LIRA to LIFs this year.

For Federal LIRA, you will need a notary which has a fee attached.
by optionable68
17 Nov 2023 15:12
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: WealthSimple Trade
Replies: 73
Views: 10313

Re: WealthSimple Trade

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.
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.
by optionable68
17 Nov 2023 09:54
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: WealthSimple Trade
Replies: 73
Views: 10313

Re: WealthSimple Trade

Mordko wrote: 17 Nov 2023 00:35 As far as I can tell they have RRIF, but its not “self-managed”
Exactly. RRIFs and LIRAs only available for WS Invest (Robo), not WS Trade.
by optionable68
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.
by optionable68
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.
by optionable68
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.
by optionable68
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

Marcus Aurelius wrote: 15 Nov 2023 00:25
AltaRed wrote: 14 Nov 2023 19:02 My view is WS does not know what it wants to be when it grows up, so it is an experiment in the meantime.
I 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.
I suspect they will try several things and see what sticks. Tangerine (ING Direct) had a similar path.

My guess is that the crypto angle eventually fails ... but WST, WSI and WSC survive