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Time to go back to Toronto?
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Aug 25, 2016 12:37
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Then move back to Toronto or train so that you make more money, but complaining about super ridiculous Timmins rental prices is the dumbest thing I have ever heard.
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Aug 25, 2016 16:04
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HookShot posted:Then move back to Toronto or train so that you make more money, but complaining about super ridiculous Timmins rental prices is the dumbest thing I have ever heard. Forget I asked for advice
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Aug 25, 2016 16:42
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HookShot posted:Then move back to Toronto or train so that you make more money, but complaining about super ridiculous Timmins rental prices is the dumbest thing I have ever heard. You don't have to be a dick about it. virinvictus posted:Outside of mining and nursing, most jobs are minimum wage. Or barely better. I did better in Toronto. Then stop living in a place that's limiting your opportunity and earning potential. Timmins sounds like a real dead end unless you're in the right career field for the area, which you clearly are not. If cooking is what you know, great! You have a marketable skill that can be improved on so you can make more money. Have you considered culinary education or looking for cooking work elsewhere that would be a better opportunity than minimum wage line cooking in Nowheresville, ON? On the other hand, if cooking doesn't feel like it's going anywhere, why not start on something else? Vatek fucked around with this message at 17:18 on Aug 25, 2016 |
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Aug 25, 2016 17:09
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Are you tied down right now? Come to Winnipeg and take the 2-year culinary arts program at Red River College.
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Aug 25, 2016 18:27
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I should probably just ask an accountant, but: I bought an asset as a US resident. I will sell it at a capital loss as a Canadian resident, albeit in a year in which I spent the majority of my time in the US (but will be in Canada on Dec 31). Can I claim that against Canadian taxes? I don't have capital gains to offset in the US.
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Aug 25, 2016 20:30
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If an American trust in-trust for a dual American/Canadian citizen dissolves how does Canada see that money? Assets or income?
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Aug 25, 2016 20:39
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Subjunctive posted:I should probably just ask an accountant, but: Holy poo poo - ask an accountant.
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Aug 25, 2016 21:46
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Lexicon posted:Holy poo poo - ask an accountant. You take all the fun out of taxes.
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Aug 25, 2016 21:50
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Haven't you heard? The CRA doesn't care about foreign income plutocrats
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Aug 25, 2016 23:39
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namaste faggots posted:Haven't you heard? The CRA doesn't care about foreign income plutocrats Can I quote you in my return?
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Aug 25, 2016 23:40
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I've even got a third party citation for you! http://m.scmp.com/news/world/united-states-canada/article/2008684/canadas-tax-agency-out-blood-not-global-income
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Aug 25, 2016 23:46
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Are you telling me to just misreport? Bold.
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Aug 26, 2016 00:40
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Subjunctive posted:Are you telling me to just misreport? Bold. Worst case you can bribe the cra with back taxes and walk, just don't try this with the IRS
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Aug 26, 2016 03:38
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virinvictus posted:Cooking is all I know, and I'm in Timmins- which I would say is worse than Toronto lmao Look at getting into remote camp work. Yes the industry is bad now but cooks will make anywhere from 230-350 / day. Winter season is coming up so you can try it for 2-4 months and see if you like it. Edit - in Alberta / BC cougar cub fucked around with this message at 04:11 on Aug 26, 2016 |
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Aug 26, 2016 04:06
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cowofwar posted:If an American trust in-trust for a dual American/Canadian citizen dissolves how does Canada see that money? Assets or income? You should ask a lawyer or accountant. Don't take advice from random internet people about poo poo like that
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Aug 26, 2016 16:33
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Finally setting up my self directed TFSA at Questrade (new baby really cuts into your evenings) which I plan to use to invest in ETFs. Would appreciate someone answer a couple of newb questions. First I'm setting up the follow type of account: Portfolio type Self directed Account TFSA Trade options None Next am I making the right choices here on some of the agreement questions: Disclosure of Beneficial Ownership Information: I do not object to you disclosing the information you described above Receiving Securityholder Materials: I decline to receive all securityholder materials sent to beneficial owners of securities. Also as I set this up, is there anything I should be looking out for to avoid any hidden fees or gotchas? Since ETF purchases are free at Questrade it doesn't sound like I need to worry about doing DRIP (learnt about that this evening). Anything else I should know?
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Aug 31, 2016 07:32
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I'm going to be doing some travelling for work over the next few months(10 Canadian flights or so). We have to book on our own then they reimburse us. Anyone got a link to that credit card picker or know what the best rewards card for travelling for be?
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Aug 31, 2016 15:37
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Rhaegar posted:Finally setting up my self directed TFSA at Questrade (new baby really cuts into your evenings) which I plan to use to invest in ETFs. On receiving materials it means you won't get periodic fund / company reports or anything other than AGM proxies (which they're required to send regardless of what you elect). I personally opt to receive them so I have at least a periodic checkin.
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Aug 31, 2016 16:48
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Decided to take advantage of that TV promotion with TD Bank. Of course they like to fill out a financial profile (how much in checking/savings accounts),which promptly brought on a somewhat strong sell for me to meet with a financial planner there. Other than that not much hassle. Seems CIBC has countered with just straight up 400 bucks for joining, which is roughly the same value as the TV.
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Aug 31, 2016 18:30
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What do people use for market research and portfolio visibility? My account has some stuff built in, but I'd rather have a nice 3rd party dashboard to show me how things are going.
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Aug 31, 2016 19:39
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Kalenn Istarion posted:On receiving materials it means you won't get periodic fund / company reports or anything other than AGM proxies (which they're required to send regardless of what you elect). I personally opt to receive them so I have at least a periodic checkin. I'm unsure if this request for materials results in additional fees for me?
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Aug 31, 2016 21:17
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Rhaegar posted:I'm unsure if this request for materials results in additional fees for me? It doesn't, just a bunch more junk mail to throw out unless you actually intend to read through the stuff they send.
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Aug 31, 2016 22:06
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Rhaegar posted:I'm unsure if this request for materials results in additional fees for me? No cost, depends whether you think corporate and fund disclosure is junk mail or not (I don't!). The rules are such that the companies shouldn't be using your info for marketing, just for annual reports, financials and the like.
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Sep 1, 2016 08:36
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Any of you guys have an amazon.ca visa? Do you know if it has auto rental insurance? I can't find anything on their website and my phone connection here (on Hawai'i) is annoyingly static-y and poor quality.
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Sep 8, 2016 19:58
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slidebite posted:Any of you guys have an amazon.ca visa? Do you know if it has auto rental insurance? I can't find anything on their website and my phone connection here (on Hawai'i) is annoyingly static-y and poor quality. I inquired about travel insurance and there was absolutely nothing of the sort -- I'd assume it doesn't have any other comparable features. They'd likely mention it otherwise.
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Sep 8, 2016 20:05
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I have it and no it doesn't. It's mainly a lower cost USD-CAD CC because it eliminates the surcharge on the xe spread. https://www.chase.com/online/canada/document/Schd5Eng.pdf
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Sep 8, 2016 20:08
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Yeah, the whole reason I got it was for CAN/US$$ but never even considered auto rental. I think for the 2.5% exchange, I'll do my car rental on Maui with my PC world elite card which I know does. On big island now and I'll just rely on my Canadian personal insurance which has rental coverage. I was planing on looking at the full coverage with Budget, but holy poo poo, $30US per day. The entire rental for 8 days was $230 for the privilege of driving a woeful Chrysler 200.
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Sep 8, 2016 20:28
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slidebite posted:Yeah, the whole reason I got it was for CAN/US$$ but never even considered auto rental. I think for the 2.5% exchange, I'll do my car rental on Maui with my PC world elite card which I know does. Your provincial auto insurer might have something (depending on if you have a provincial auto insurer or a more privatized system). ICBC in BC for example has RoadStar ($21/year, must be at their higher accident-free tiers) and Roadside Plus ($78/year) which include rental car coverage. toe knee hand fucked around with this message at 01:39 on Sep 9, 2016 |
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Sep 9, 2016 01:37
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Just starting a TFSA now with what I've been sitting on for a home deposit (because LOL). About 50k. I like the idea of the Tangerine One Fund because I don't really have the time or the expertise at this point to manage an ETF portfolio on my own. Any suggestions for exposure to Canadian bonds and equity? The investment horizon I'd be looking at suggests a high percentage in Canadian bonds but I'm a little wary of anything Canadian with the economy right now or does that not apply to the bonds that would be in this kind of fund?
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Sep 9, 2016 18:57
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peter banana posted:Just starting a TFSA now with what I've been sitting on for a home deposit (because LOL). About 50k. I like the idea of the Tangerine One Fund because I don't really have the time or the expertise at this point to manage an ETF portfolio on my own. Everything this says about Tangerine being a better alternative in term of management expenses is bullshit. You are investing a high enough sum that you should seriously consider an actual ETF portfolio with a discount broker that doesn't have any of the fees they invented for their essay.
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Sep 9, 2016 19:16
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peter banana posted:Just starting a TFSA now with what I've been sitting on for a home deposit (because LOL). About 50k. I like the idea of the Tangerine One Fund because I don't really have the time or the expertise at this point to manage an ETF portfolio on my own. They pulled numbers out of their asses for their fee comparisons and 1% MER is a joke for what they claim is an index fund. Basic consensus on Canadian investments is to allocate very little to them since Canada represents a very small portion of the global market and our economy is very lopsided toward energy and financials.
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Sep 9, 2016 19:22
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peter banana posted:because I don't really have the time or the expertise at this point to manage an ETF portfolio on my own. Dude, I think you could literally run an index fund portfolio in less than an hour per year, depending how often you contribute. Say with monthly contributions that would take 5 minutes per, and then another 10 minutes once per year to re-balance, you're looking at 70 minutes total. It's seriously easy. I have no life and will hold your hand through it if it'll save you from giving the banks more money than they deserve.
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Sep 9, 2016 19:43
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Rick Rickshaw posted:Dude, I think you could literally run an index fund portfolio in less than an hour per year, depending how often you contribute. Fully agree. I'm sure the regulars ITT could agree on an easy-to-maintain group of 3-5 ETFs that would fit whatever allocation you decide on. Also, even short horizon investments shouldn't be too bond heavy. I'm thinking 50% max (iirc this is recommended in Four Pillars for conservative investments). In this case Canadian bond funds (e.g. VAB) are fine - global bond funds are poo poo (last I checked).
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Sep 9, 2016 22:13
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toe knee hand posted:Your provincial auto insurer might have something (depending on if you have a provincial auto insurer or a more privatized system). ICBC in BC for example has RoadStar ($21/year, must be at their higher accident-free tiers) and Roadside Plus ($78/year) which include rental car coverage. Manitoba PI charges $7 bucks a day for a rental car in the US, $4 a day for in Canada, it's a loving godsend.
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Sep 9, 2016 23:00
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If you guys are putting together an ETF basics crash course, can you tell me what sorts of allocations are basic recommendations? I get the idea of rebalancing, but I don't know what I'm supposed to be rebalancing towards.
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Sep 9, 2016 23:48
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It depends on age, risk, and a bunch of other things that you ultimately have to decide upon (or share a bunch of personal info so someone else can offer informed advice). I'll tell you what I did though because I spent the afternoon re-assessing my allocation. Step zero is figuring out your desired income level, which will drive how much capital you need. If you have an idea of when you want to retire and how much you're able to regularly save towards it until then, you can determine the sort of return you need. Play around with variables until you get something realistic and achievable or whatever. The first step for me was determining how much I wanted in bonds. The historical risk/reward ratio is something I'm willing to stomach and allows me to reach my goals. I could probably afford to be more aggressive if I wanted, but don't need the volatility, so there's no real need. That led me to an allocation of 25% Bonds. Even if I wasn't bearish on Canada, I'm not a fan of home bias (ie, overexposure to local markets) so I'm sitting at 15% Canada*. The remainder is evenly split between US and International, 30% each. I might throw a bit towards Emerging markets at the expense of bonds and/or Canada when my portfolio is bigger, but it wouldn't be a huge difference either way. Next step for me was figuring out what funds, and I chose VAB/VCN/VAB/XEF because they were the lowest cost offering at the time and I only had a TFSA. If you have more accounts, deciding what funds you want in where becomes a bit more complex and super super subjective. This is where things get pretty boring because it's all min/maxing spreadsheet bullshit to eke out that extra 0.5%. Don't feel bad if you're not here because there's merit in expending 5% of the effort for 98% of the reward. Before this year I didn't have an RRSP or unregistered account to worry about, but now that I do there are some significant tax implications to be aware of. In open accounts, interest income is taxed at your highest marginal rate where capital gains are taxed at half that**. Canadian dividend income usually has a very generous tax rate as well, because Canadian companies have already paid tax on that income and it encourages domestic investment. Foreign dividends may be taxed and withheld at source as well. In open accounts you can usually claim it as a non-deductible tax credit. In RRSPs, withholding may be eliminated or refunded depending upon tax treaties Canada has in place***, but are not recoverable in TFSAs. Capital losses also cannot be claimed in registered accounts. Now it's time to John fukken' Madden your way through all that and make a decision! The bad news is that there's no way to know what the best decision was without the benefit of hindsight, but the good news is that these sort of efficiencies don't amount to a whole lot compared to being smartly invested. If you're well diversified, it won't be the difference between filet mignon and cat food or anything. For me, Canadian equities will be the first item kicked out of registered accounts because they have the benefit of low tax on both dividends and capital gains. International equities will be last to leave a registered because there's no real difference in taxation regardless of where they're held. I'm leaning towards leaving bonds in registered account and US equity wherever it will fit, primarily in RRSP and open account since it's more favorably taxed there. The reason it's not fully sorted out is because 1) I'm still a few months away from being at a point where I need to make a decision, and 2) there are derivative funds that convert all dividends to capital gains through what is called a total swap return. This allows indefinite carrying forward of gains, but costs a bit more, adds more complexity and introduces new (counterparty) risks. This is a lot more than I intended to write on mobile without proofreading, hope it helped. *PWL Capital has a white paper that showed having 30% of your equity exposure in Canadian markets provided the lowest volatility historically, but past results something something future results. **Subject to change - governments can and have tinkered around with this rate. ***Only applies if you hold the underlying equity - there's no way to recover taxes in 'wrapped' funds (ie, a US denominated fund held inside a Canadian denominated fund to avoid end-user FOREX). e. vvvv yeah that's a bit part of it too. Pick something, stick to it, gently caress the math behind it, profit. 25% bonds/Canada/US/Int'l works. 40% bonds/20% cdn/us/int'l is another popular couch potato strategy. Guest2553 fucked around with this message at 01:51 on Sep 10, 2016 |
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Sep 10, 2016 01:45
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You pick one allocation and always aim for that. Within reason, which allocation you choose is less important than regularly rebalancing towards it. The point is to mechanically buy low and sell high. I'm not an expert though so it's very possible I'm missing something.
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Sep 10, 2016 01:47
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pokeyman posted:You pick one allocation and always aim for that. Within reason, which allocation you choose is less important than regularly rebalancing towards it. The point is to mechanically buy low and sell high. Buying low and selling high doesn't really figure into it. As an index investor your strategy is basically to buy and hold forever, or at least on a timescale measured in decades. The working assumption (and one that has held true for the last hundred years or so) is that capitalism is a sound economic system and the overall value of whatever index you're holding will continue to increase over a long enough time period. If you're trying to ride the wave on a stock chart you're not index investing anymore, you're trading based on whatever criteria you're using to determine whether a stock is low or high, whether it's technical, fundamental or some random ritual like throwing a dart at a board full of stock tickers (please don't do this, or if you do, at least post running updates in the thread). The only concerns you should have as an index investor when adding to your position is a. maintaining your portfolio balance and b. minimizing the impact of trading fees. It doesn't make much sense to increase a position by $100 when it's costing you $9.99 to do so. Selling is a different story because if you're unloading some of your portfolio you probably have a reason for doing so (Steam sales?) that is going to take precedence over waiting to see if the Dow jumps another half a percent overnight. Vatek fucked around with this message at 02:08 on Sep 10, 2016 |
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Sep 10, 2016 02:05
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Rebalancing though is the act of selling the things that are high proportionally in your portfolio and using that money to buy the things that are low. So saying "The point is to mechanically buy low and sell high." is correct if you are following your chosen allocations.
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Sep 10, 2016 02:12
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