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So I used the greedy card site to pick the best credit card for me, ended up being some scotia bank associated visa. I just got a letter in the mail I was denied for credit reasons. I have no debt, what the hell? Should I just go down to the bank and apply in person? Oh now it's telling me some american express card is the best for me. gently caress I just want a card with some sort of rewards, I'm getting NOTHING with my current card so I never use any credit cards other than buying a game or two a year on steam. Baronjutter fucked around with this message at 22:03 on May 1, 2015 |
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May 1, 2015 21:50
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The Butcher posted:What are the thread's general thoughts on hedged vs. non-hedged US index funds. If you want to make this bet, and a bet is what it is, why not do it via the futures market? It makes no sense to couple this bet on currency with the decision to invest in US equities. Personally, I hold VTI.
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May 1, 2015 21:51
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How long does it take for an order of e-series to go from "open" to "executed" in TD webbroker? I assume a few business days?Baronjutter posted:So I used the greedy card site to pick the best credit card for me, ended up being some scotia bank associated visa. I just got a letter in the mail I was denied for credit reasons. I have no debt, what the hell? Should I just go down to the bank and apply in person? FWIW Scotiabank denied me for no reason as well when I have perfect credit and (at the time) had a pretty drat high income a couple years ago.
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May 1, 2015 22:26
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LeAlkaiser posted:Thank you, Let's say you have $100 and your broker gives you 50% margin. You can essentially buy $200 worth of securities with your $100 of cash meaning you get double investment returns (up or down) net of the cost of the margin (usually relatively low). Alkaiser posted:I guess it doesn't make sense to me in that the small differences in the margin rate interest rates don't seem to make it worth it for all the hoops you go through i.e. margin calls; as opposed to getting some form of traditional loan and investing with that if you want to play with leverage. A traditional loan may not be available and will often be much more expensive than a margin loan because the latter is secured. Lexicon posted:Exactly. Getting any sort of loan except for credit cards or CMHC riskless mortgages is a tremendous loving hassle - even, astonishingly, at banks with whom you have extensive relationships, and who ought to know you're good for a $10k unsecured LoC. No it's not? I've gotten term loans / loc for RRSP contributions many times and it takes maaaaaaybe an hour of effort. If you have non-salaried (say consulting) income it's harder because you have to substantiate it somehow other than with a pay stub. Golluk posted:Funny enough, PC just recently offered me an unsecured LoC for 10k. Prime + 3.25%. I still wouldn't want to carry a balance on that, but it's a lot better than 20% on a CC. All I can really think of using it for is a boosting my RSP contributions and paying it off quickly after. But then my emergency fund is plenty for that. I guess it could take over for the brief period my emergency fund is low. Prime plus 3.25% is not great for an unsecured line. Shop around.
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May 1, 2015 22:38
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Lexicon posted:If you want to make this bet, and a bet is what it is, why not do it via the futures market? It makes no sense to couple this bet on currency with the decision to invest in US equities. Ok fair enough. But what's the thought behind hedged vs. non hedged in general? Why pick one or the other to begin with? The added volatility of currency fluctuations on top of the actual index that's being tracked seems like it should be a bad thing.
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May 1, 2015 22:40
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Also a more general "what my next step" questions to run by you wizards. I've only relatively recently starting investing for retirement and didn't have a ton to contribute to my TFSA to start with. Risk tolerance right now is very high so I figured it made the most sense to buy one thing at a time with each lump contribution to eventually reach the diversification balance I'm looking for instead of buying multiple things with each contribution in order to reduce commission fees. As such I'm pretty much all in on a US equity index right now, but now looking to pick the next thing to purchase to start actually diversifying. Having a hell of a time deciding what the next move should be though... Here's my take on things, please let me know if I'm crazy wrong somewhere. Still trying to figure it all out. Canadian equity ETF - I want zero exposure to Canada right now. poo poo's busted. Fixed income ETF - Interest rates are very low, may go lower still. If they do go up, it's going to be very slowly, making bonds unattractive right now. REITs - Probably going to get slammed if CDN economy goes into recession and/or the housing bubble pops. So as far as I can reckon next sensible move would be to get some international coverage, something like VDU, an international developed country index that excludes the US and Canada (since I'm already invested in the US, and I don't want to touch Canada). Agree / disagree / way better idea?
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May 1, 2015 23:00
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Kalenn Istarion posted:Prime plus 3.25% is not great for an unsecured line. Shop around. Fair enough. Its just far more tolerable than the 20% of a CC. I also don't really have a need/use for it, so no incentive to go shopping.
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May 1, 2015 23:01
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Kalenn Istarion posted:maaaaaaybe an hour of effort Exactly my point. This is way more effort than should be required to evaluate the risk by a bank with what should be a deep understanding of your finances.
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May 1, 2015 23:42
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The Butcher posted:Ok fair enough. But what's the thought behind hedged vs. non hedged in general? Why pick one or the other to begin with? It would be great if currency fluctuations could be factored out and ignored. The point is, I don't see any reason to believe that "hedged" ETFs achieve this. You just trade one set of costs and benefits for another, and all the while have to pay higher fees for a more expensive to run fund.
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May 1, 2015 23:47
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The Butcher posted:Canadian equity ETF - I want zero exposure to Canada right now. poo poo's busted. This is all one big market timing exercise. Spread your bets - including in Canada. You could make the argument that poo poo's busted in Canada anytime in the past 5 years, and yet would've been spectacularly wrong.
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May 1, 2015 23:48
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The Butcher posted:Also a more general "what my next step" questions to run by you wizards. Fixed income ETFs like bonds exist to act as a "shock absorber" for your portfolio so you really shouldn't be looking to get gains with it. I suggest putting some percentage of your stuff in bonds (maybe 20% max?) to dampen any crashes or long-term downfalls. I hear of people who go 100% stocks though and do OK, but that's your call. I sold my own REITs recently after careful consideration of what I really wanted to get out of them. It's true that REITs and precious metals add diversity to a portfolio because they don't always correlate with the stock market, but you could do without them if you stick with a simple global portfolio of stocks. Otherwise, if you want to get them, I read that they shouldn't make up more than ten percent of your domestic equity stocks (so if you have 10% Canadian stocks, you'd have just 1% in REITs), and if you own property, then it counts as part of your REITs. All that said, you're spot on the money about wanting to get some international exposure. VDU is an excellent fund, and VEE allows you to get into the emerging markets crowd if that's your bag.
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May 2, 2015 01:16
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So part of my portfolio is a locked in rrsp with my current employer, as of today it's roughly 5700 and the monthly contributions are 475. The funds are held in at Servus Credit Union with the investment side being run by Credential Direct. So my options are either to invest in AGF mutual funds with a non self directed account or self direct at about $9 a trade and possible quarterly fees. This is a pretty small part of my overall portfolio that I don't mind taking high risk with it, I calculate that if I want to invest each contribution as it comes in the fees will more or less equal 2%. So from my research AGF funds are nothing exception and are not too crazy in their MERs. As this is a pretty small part of my portfolio I don't want to use too much time overthinking this, should I just go with some AGF funds or is it worth it to pay 2% or more with foreign exchange to buy some long positions?
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May 2, 2015 03:15
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Lexicon posted:Exactly my point. This is way more effort than should be required to evaluate the risk by a bank with what should be a deep understanding of your finances. No, it's not. There are in fact regulations that specify a minimum level of effort to qualify consumer loans. Doing less than that or having bad processes makes your CDIC premiums go up, among other things.
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May 2, 2015 05:34
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Kalenn Istarion posted:No, it's not. There are in fact regulations that specify a minimum level of effort to qualify consumer loans. Doing less than that or having bad processes makes your CDIC premiums go up, among other things. I don't care what the reason is. It's a pain in the rear end.
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May 2, 2015 05:38
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The Butcher posted:What are the thread's general thoughts on hedged vs. non-hedged US index funds. Hedge has a drag on performance. Also, let's frame this question differently. If you're confident the CAD has bottomed out, why not stay with VUN, and then do some FX trading, which is a similar strategy? (don't do this)
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May 2, 2015 20:40
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Hedging has a cost but also reduces overall volatility unless the performance of companies in a portfolio is negatively correlated to currency performance (unlikely). The short answer is that hedging MAY increase the sharpe ratio of a portfolio (ratio of performance increase to volatility increase), depending on cost and currency volatility, but will definitely reduce expected return, so it's a judgement call in each individual's case. I'm not writing the long answer because it takes a bunch of math and I'm on my phone.
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May 3, 2015 00:50
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Filed taxes and got a return of almost -20k. Thanks obama
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May 4, 2015 21:58
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I filed a T1213 form when I started my new job and instead of using the employer I wrote on the form they pulled my previous employer. So I got my letter in the mail after waiting two months that I gave to payroll. They called CRA and I need to have the current employer on the letter despite the fact that it has no effect on the considerations being made (tax credit surplus). So now I get to send in another T1213 and wait another two months.
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May 4, 2015 22:16
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Is there any catch to the H&R Block free online tool?
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May 4, 2015 22:17
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Cultural Imperial posted:Filed taxes and got a return of almost -20k. Thanks obama Pour a 40 for your T2/T5 taxes.
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May 5, 2015 06:40
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Cultural Imperial posted:Filed taxes and got a return of almost -20k. Thanks obama If that's actually a negative then what's up almost-owed-the-same-amount-of-tax buddy! Mine was just shy of 22k. edit: also I just put a bunch of money into e-series in my TFSA and they lost half a percent on day 1 lol
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May 5, 2015 07:01
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HookShot posted:If that's actually a negative then what's up almost-owed-the-same-amount-of-tax buddy! a whole half a percent in a day, you must be crushed
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May 5, 2015 07:12
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blah_blah posted:a whole half a percent in a day, you must be crushed I know, I'm basically broke now.
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May 5, 2015 16:46
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This is an annoying trend: http://www.banking.pcfinancial.ca/mkt/common/promos/non-registered-2015-spring-en.htmlPCF posted:2.6%* Save for a Sunny Day! Thanks PCF, my cup runneth right over! Is anyone really stupid enough to open accounts and move over money and so on for the sake of a few extra basis points of interest for a few weeks?
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May 5, 2015 17:07
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Most Canadians don't have savings though 
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May 5, 2015 17:09
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Cultural Imperial posted:Filed taxes and got a return of almost -20k. Thanks obama I ended up owing $15k, down from $35k from when my accountant initially hosed up my return 
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May 5, 2015 18:39
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Lexicon posted:This is an annoying trend: http://www.banking.pcfinancial.ca/mkt/common/promos/non-registered-2015-spring-en.html Yeah, I keep getting these from ING. I wish there was a button to just reply "LOL" to their marketing team.
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May 5, 2015 22:25
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Cultural Imperial posted:Filed taxes and got a return of almost -20k. Thanks obama I think your in the wrong country, Otherwise that should be "Thanks Harper..." At first I thought you were getting back ~20k. I don't know if I should feel good about getting 4k back? Or bad because I'm not in the higher tax brackets. Golluk fucked around with this message at 03:39 on May 6, 2015 |
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May 6, 2015 03:34
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6k return here  I only pay federal taxes as a deemed resident so the income splitting thing knocked me into the 15% bracket. Also had a babby which means you get more money back for some reason. Thanks Obama! 
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May 6, 2015 04:06
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I got $600 from the Feds but owed Quebec $900. Woo.
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May 6, 2015 05:35
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FrozenVent posted:I got $600 from the Feds but owed Quebec $900. Woo. I did 3 months on contract last year, so I'd set aside a hefty sum to pay for income tax on that. But I didn't know that the RRQ was such a ridiculous burden on self-employed workers. Ended up with something like $80 for the feds, $1500 for Quebecistan. I sure am glad all this money is going towards building roads that are riddled with potholes before they're even finished! 
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May 6, 2015 14:12
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Guest2553 posted:Also had a babby which means you get more money back for some reason. Because if you don't take care of the kid yourself, it'll cost them more money than what they gave you back 
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May 6, 2015 15:06
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Holy poo poo, how much do you make to owe 20k? Jesus I got back 3k, but that's going towards previous years owing, mostly stemming from when I got bought out from a previous employee and not handling that money properly.
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May 6, 2015 15:26
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DariusLikewise posted:Holy poo poo, how much do you make to owe 20k? Well if you're self employed and pay EI and CPP as well there's 10k right there. I only pay CPP so it's just like 5k. I think my net income to owe 22k total was in the high 80s. A couple years ago I had a really good year and owed 75k in taxes. Thank God I actually saved up that much for them instead of spending all my money on things like ipads.
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May 6, 2015 16:58
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HookShot posted:Well if you're self employed and pay EI and CPP as well there's 10k right there. I only pay CPP so it's just like 5k. Holy poo poo, what do you do?
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May 6, 2015 17:03
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HookShot posted:Well if you're self employed and pay EI and CPP as well there's 10k right there. I only pay CPP so it's just like 5k. Okay, but you should be making instalments. And the majority of self employed don't pay EI. So CPP isn't really an excuse for a 20K tax bill.
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May 6, 2015 17:06
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Kal Torak posted:Okay, but you should be making instalments. And the majority of self employed don't pay EI. So CPP isn't really an excuse for a 20K tax bill. Wait, why make instalments if he has self control? Why pay any bill before it's due if you can avoid it?
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May 6, 2015 17:11
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Rick Rickshaw posted:Wait, why make instalments if he has self control? Why pay any bill before it's due if you can avoid it? Because it is required if your tax owing was 3K or more this year and any of the past 2 years. It's not optional.
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May 6, 2015 17:14
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HookShot posted:How long does it take for an order of e-series to go from "open" to "executed" in TD webbroker? I assume a few business days? Scotiabank once denied me because I closed an account with them after finishing school and didn't need it anymore. I was wondering what you where all doing that you owed so much money, but I guess self-employed. They owned me 7k
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May 6, 2015 17:30
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tuyop posted:Holy poo poo, what do you do? I'm self employed, mainly affiliate marketing. Kal Torak posted:Okay, but you should be making instalments. And the majority of self employed don't pay EI. So CPP isn't really an excuse for a 20K tax bill. Kal Torak posted:Because it is required if your tax owing was 3K or more this year and any of the past 2 years. It's not optional.
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May 7, 2015 00:49
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