Say you are 30yo and have 2mm invested in some ETF (VFV, XEQT, etc). But you make a very average income at like 70k. The compounding your nest-egg will do will overshadow any contributions you’ll make. At that point are you better off spending that income on other things?
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Dunno what to do - I realize this is a good problem to have. I currently have around $320k of cash in RRSP, TFSA and savings accounts. I plan to keep around $150k in HSA because I’m hoping to quit and take a half year career break.
So that leaves me with $170k to deploy.
We have a mortgage with $864k balance at 3.83% for the next 3 years.
Husband has most of his assets in volatile stocks - around $2.7-3m+ depending on the day. Most of this are actually gains - he bought AMD 10 years ago.
He has very little cash, which is why I feel like I should hold more. For example, we decided to pay off $135k when we renewed our mortgage in March, and I was able to pay more of it so that he didn’t have to liquidate his investments. And then obviously AMD went crazy, so that was the right move lol.
I have $645k RRSP/LIRA, mostly in ETFs and some stocks, and $51k in CASH.TO. I’m DCA’ing $500 CAD into VEQT and $500 USD in XAW.U each week.
I have $165k TFSA, also mostly in ETFs and a little TD. There’s $35k in CASH.TO there..
I have approx $85k in non-reg investment account, mostly tech stocks, and includes $33k CAD and $8k USD (in PSU.U)
So the above cash in my investment accounts = around $120k cash.. plus I have $200k in a HSA earning 3.25%.
Do I have too much cash? I think I have approx $770k invested and $320k cash. Think I’m holding too much. Again I’d like to keep $100-150k in HSA so I don’t have to worry about cash flow.
So what should I do with the rest? The markets are so inflated right now it’s been very hard for me to lump sum in… and I wonder if I really do need to be 100% equity at 40 years old, with husband highly invested in volatile stocks with little cash.
EDIT: Any advice appreciated. If you know a fee only advisor in Vancouver you can recommend, I’d appreciate that too.
For those who may ask, I’m still investing over $2k monthly in my employer RRSP and ESPP.. so it’s not like I’m not investing anything right now.
Sorry if this is asked a lot, but I see a lot of information out there and I'd love to get some clear answers on this before I engage with an investing / accounting specialist.
I'm moving to the US (California) on a TN visa soon and I have RRSP with Manulife AND Canada Life, and TFSA with Wealthsimple. My main bank is Wealthsimple and my backup bank is TD. I understand I need to
What I am less clear on is what to do with my RRSPs. I heard from some sources that I will need to sell and buy back before I move to the US, because right now the growth in my RRSP is considered "earnings" that will be taxed. Since I bank with TD is it best to move all my RRSP out of Manulife and Canadalife, move it to TD and re-buy so there's no "profit" (excuse the poor terminology)?
I am making my annual max FHSA contribution and plan to buy a home in the next 5~ years. Would you recommend GIC or ETF given this timeline? Or would you recommend considering something else?
Trying to avoid the cash for gold stores, which I’m assuming don’t give fair market value. Any tips would be appreciated. Gold is from Costco from a couple years ago with Canada flags all over.
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If you guys are interested in learning about options. Make sure to trade them in an unregistered account. You'll lose money for a while before you get the hang of it.
You can tax loss harvest it against your income.
Then once your decent at it, you can apply that strategy in your TFSA.
Also make sure to never risk more then 0.5%-1% of your total net worth on a single trade.
Ive opened up an IBRK account and im learning to options and even futures.
Right now I have Lumber and Rice futures along with some options in some French stocks.
Cheers
Was reading through some corporate restructuring papers for a project and it kinda hit me how brutal the credit crunch has gotten for mid-market Canadian businesses.
Like if if you aren't a massive corporate juggernaut or a tiny startup with tech hype, the Big Six banks basically don't want to know you. They've tightened lending standards so much that even stable companies with millions in hard assets are getting turned away if they hit a slight snag.
It made me look into where these guys are even finding capital to survive or grow now that traditional loans are out of the question. Apparently there is this massive shift toward private debt and alternative lenders. Came across an old bio and found out it's wild how much these niche firms are stepping up to fund turnarounds that banks won't touch.
Any folks here work in corporate finance or own a mid-sized business?are there more people fully relying on private credit now? Feels like a massive structural shift in how Canadian business gets funded ..
Hello, for context I'm over the pond in the UK, I'm a big believer in my UK home market and have a boat load of UK stocks and trusts - even a Canadian focused trust called Canadian General Investments which i like because it holds CPKS railway which from what i have read is the only CA-US-MX railway.
However I've been slowly now trying to convince myself to expand to a different country - ideally not the US. So looking at similar countries Canada is interesting to me.
So far i love the looks of BMO, TD and CSU (Personal experience i saw TD everywhere in NYC and i read somewhere BMO is pushing west into the states as well. I'm also aware they are beyond kings in dividends which i like).
I did some digging and Metro looks promising too.
Now the big question is for you. The Canadian investors what would you say are some core Canadian stocks you think are important, either the safety aspect, dividend aspect or growth aspect?
I would absolutely love to see how our differing investing views are or just how similar they are?
This seems to be going down and down. The business is promising. They are getting the deals. What is going wrong?
Avoid at all costs, run away, sell everything, it is so over.
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