|
Kraftwerk posted:Random question: No
|
#
?
Feb 26, 2021 17:43
|
|
|
|
| # ? Apr 25, 2024 20:24 |
|
|
redbrouw posted:Is this 15 percent of 400, or just 400? it's a $400 deduction. i haven't read it that closely, but i think it's actually $2 per day worked from home after whatever day in march the cra picked capped at $400
|
|
#
?
Feb 26, 2021 17:57
|
|
|
the talent deficit posted:it's a $400 deduction. i haven't read it that closely, but i think it's actually $2 per day worked from home after whatever day in march the cra picked capped at $400 Yeah, much the regular T777, it's a $400 deduction, not a credit. I just started looking at the T777S schedule in the software at work, and it lists that specifically, but it also says specifically, "No supporting document is required," so they're just offering that $400 as a no-questions-asked compromise option. I'm doing the calculation right now, and there's an additional step of "how many hours have you worked at home per week?" in the calculation now. It also specifically lists qualifying expenses. Unfortunately, the $300 printer I bought specifically doesn't qualify, so unless I can get my boss to sign the, "Yeah, he totally worked from home 40 hours a week from March to December" form, I think I'll just claim the $400 and not worry about trying to find receipts other than rent, internet, and utilities. Had I rented a 2br and claimed the computer room as an office, I would've gotten a much higher deduction.
|
|
#
?
Feb 26, 2021 18:44
|
|
|
I say yes. For one, the monthly fee tends to be about 4% APR of the minimum balance, meaning the savings are equal to if you invested it. You can also get the TD Cash Back card that has the highest % return and save the >$100 annual fee. Unless you are a mixmaxer and will sign up for Rogers and other credit cards like that to always have the best rate, I'm pretty sure this is the best cash back rate available.
|
|
#
?
Feb 26, 2021 18:49
|
|
|
xtal posted:I say yes. For one, the monthly fee tends to be about 4% APR of the minimum balance, meaning the savings are equal to if you invested it. You can also get the TD Cash Back card that has the highest % return and save the >$100 annual fee. Unless you are a mixmaxer and will sign up for Rogers and other credit cards like that to always have the best rate, I'm pretty sure this is the best cash back rate available. No as in, no there isn't a reason not to.
|
|
#
?
Feb 26, 2021 19:04
|
|
|
the talent deficit posted:has anyone done the math on whether it's worth claiming (on your tax return) the work from home benefit (t2200?) or just taking the $400 one? There are some case study examples in here. Seems like easymode pays out better in most cases. It even includes scenarios where you rent AND have a dedicated office. Still isn't very rewarding to go longform.
|
|
#
?
Feb 26, 2021 20:07
|
|
|
Today I have zeroed out my line of credit. I’m officially debt free other than owing about 3200 on my car @ 2.75% APR w/$125/month pmt. It involved cashing out my entire bonus without putting it to RRSPs and skipping a pay check and dipping my bank balance down somewhat. I still have plenty of cash for any sudden emergencies and I figured between having money sit in my checking account while I pay 500-600 bucks in interest for a year and just making it all go away it made more sense to “put that money to work” so to speak. Now, I’ve taken a deep breath and submitted all my information to Questrade to get a TFSA opened up with them. I have to decide where I want to go now. I have a few financial goals in order from most important to least important. 1. Save for a comfortable retirement (I just upped my matching contributions with my employers to the maximum 6% on their SLF granite fund) 2. Possibly save for a down payment on real estate 3. Save up for a car when EVs become mainstream or get a hybrid car. 4. Maybe be able to recover some cash if I have a financial emergency (I hope this never happens) All goals except #1 are negotiable and I don’t feel I absolutely need them. Owning a house sounds nice but with the way Ontario real estate is going it doesn’t seem practical. I feel that my salary and bonuses will never be able to increase my down payment fund quickly enough to offset the rate at which real estate prices are rising. For goal #1 The current strategy is to start off with the minimum questrade tfsa $1000 In VGRO or XGRO. Then commit 300 per month or 150 biweekly thereafter. I might go XGRO to reduce my exposure to Canadian equities and benefit from the preauthorized debits. I have some concerns about this. My friend says that if I’m investing for a 20-30 year time horizon that I shouldn’t bother with the 20% bond allocation of these funds because a 100% equity portfolio like VEQT will outperform it in the long run. I’m not inclined to disagree but I wonder if the 20% bond portion helps with retaining gains during market downturns in exchange for slightly less growth. Another thing I’m not sure of is the TFSA vs RRSP debate. I’m going to need an RRSP eventually because when my employer pays my bonus they give me the option to lock in the money with a sunlife RRSP that lets me offset the tax burden. But I have no loving idea if I’ll be in a higher or lower tax bracket when I retire. What is the smart way to use an RRSP if my only source of income is the numbers on my T4 slips? I have all of my contribution room on TFSAs save for a 600 dollar loss on meme stocks that’s gone forever. I also never used an RRSP before. My last concern is that I feel (emphasize feel) that something isn’t right with the US stock market. Industry fundamentals do not back up current stock valuations in my opinion. There’s no way any of this physically makes sense. I’m also worried about inflation and bond yields seem to be up which backs this up. Based on this belief I have no idea how to invest my money. What do you guys think? Edit: I have a side goal where I’d like to invest in an ETF that focuses on alternative energy companies. Like renewables, nuclear, fusion and other technologies designed to mitigate climate change. This is more of a hobby investing thing because I like the idea of these industries and want to contribute to better energy options. I also want exposure to companies leading the way in battery technologies and some up and coming stocks that seek to create new waves in that direction. This would strictly be for buy and hold purposes rather than short term profits. Kraftwerk fucked around with this message at 22:14 on Feb 27, 2021 |
|
#
?
Feb 27, 2021 22:11
|
|
|
Congrats, that's awesome! Allocating to bonds will lower volatility (lower highs, higher lows), so you're more likely to obtain your expected return. The flip side is, as your friend noted, your expected return is lower compared to 100% equities. Lower volatility means smaller swings in your portfolio's current value, so if you're not feeling up to seeing "you're down 50%" when you log into Questrade, adding some bonds will bring that up. It's also a common recommendation when you're nearing retirement. You can also change your mind later, so by all means start with 20% bonds, and if you're feeling comfortable in a few years maybe you start buying VEQT with new contributions? Don't have to fully commit now. RRSP versus TFSA is a never-ending debate. I don't think there's a wrong answer most of the time. Just use both before you start investing long-term in an unregistered account. Without knowing details, I don't believe the terms "Sun Life" and "reasonably inexpensive" tend to appear in the same sentence. Contributing to your RRSP normally will mean you get the taxes back the following April and can invest all of the money how you want. If you want the RRSP refund sooner, commit to making regular contributions and fill out form T1213 to deduct less from your paycheque. There's almost certainly no special tax benefit to locking it up in some fund, they're just doing the equivalent of that form (here's a good post on the subject). If you can commit to investing your tax refund each April then there's nearly no difference and filling out that form might be more effort than it's worth. Your feelings about markets are not invalid, but they will not result in superior investments over the long-term. Nothing wrong with putting some money in a green energy fund or whatever, but assume it'll trail the market as a whole over decades, and maybe keep it to like 5% of your portfolio.
|
|
#
?
Feb 27, 2021 23:26
|
|
|
Kraftwerk posted:I’m not inclined to disagree but I wonder if the 20% bond portion helps with retaining gains during market downturns in exchange for slightly less growth. The PACC on the iShares products are pretty awesome. Turn on the drip too for ultimate  investing! As far as you bond allocation is concerned, though your friend is correct in that you would expect to have a greater return by going all equities, that assumes you are a perfectly frictionless, massless, spherical, and rational investor. The best asset allocation is the one that keeps you in the market when it inevitably drops, as opposed to panicking and selling low.If you want to understand how unfortunately complex the RRSP investment decision is, feel free to take a gander over to Retail Investor. Buddy has a nice spreadsheet you can use to model your planned contributions with. Kraftwerk posted:I have a side goal where I’d like to invest in an ETF that focuses on alternative energy companies. Like renewables, nuclear, fusion and other technologies designed to mitigate climate change. This is more of a hobby investing thing because I like the idea of these industries and want to contribute to better energy options. I also want exposure to companies leading the way in battery technologies and some up and coming stocks that seek to create new waves in that direction. This would strictly be for buy and hold purposes rather than short term profits. A note on purchasing an alternate energy ETF: Your stated goal in doing so is that you want to "contribute to better energy options." Purchasing a company's stock on the market does not in any way support or contribute to said company. The person on the other end of the trade is another retail investor like you, or perhaps some manner of institutional fund. If it makes you feel good then OK, but just know that it's completely useless at actually making any sort of change in the world, with the exception of adding uncompensated risk to your portfolio. This is your one chance to use the dread engine of capitalism in your favour, best take maximum advantage of it. Kraftwerk posted:My last concern is that I feel (emphasize feel) that something isn’t right with the US stock market. Industry fundamentals do not back up current stock valuations in my opinion. There’s no way any of this physically makes sense. I’m also worried about inflation and bond yields seem to be up which backs this up. Based on this belief I have no idea how to invest my money. What do you guys think? I think you're on the right track for investing your money! The markets are always dumb and the system is stupid but it's the best way to prevent you from eating cat food in old age.
|
|
#
?
Feb 28, 2021 00:29
|
|
|
Nofeed posted:Purchasing a company's stock on the market does not in any way support or contribute to said company. Given that companies often buy other companies using their stock, a stock price and higher market can be to a company’s advantage. It’s true that the more direct impact is on the seller of the shares, though, and on any employees who are compensated with stock.
|
|
#
?
Feb 28, 2021 00:56
|
|
|
Subjunctive posted:Given that companies often buy other companies using their stock, a stock price and higher market can be to a company’s advantage. Sure, the price of a stock can be important for that company in certain circumstances - but are you not implicitly suggesting here that trading volume is responsible for raising the price of a security?
|
|
#
?
Feb 28, 2021 01:33
|
|
|
Based on the advice above I’ll start by putting it all on XEQT and see how that goes. Thanks everyone.
|
|
#
?
Feb 28, 2021 03:44
|
|
|
Nofeed posted:If you want to understand how unfortunately complex the RRSP investment decision is, feel free to take a gander over to Retail Investor. Buddy has a nice spreadsheet you can use to model your planned contributions with. Thanks for this site. It pointed out a few things that I hadn't considered about RRSP contributions.
|
|
#
?
Feb 28, 2021 05:10
|
|
|
Tsyni posted:Thanks for this site. It pointed out a few things that I hadn't considered about RRSP contributions. The tone is grating as gently caress, but the info is solid. Nice to have it in one place.
|
|
#
?
Feb 28, 2021 08:15
|
|
|
Nofeed posted:If you want to understand how unfortunately complex the RRSP investment decision is, feel free to take a gander over to Retail Investor. Buddy has a nice spreadsheet you can use to model your planned contributions with. Another thanks for sharing that. I feel like I have read it in its infancy (I think he posted some drafts to reddit), but it's a great read all the same. On the surface, there's not a whole lot of tax-sheltered options for Canadians, but I know that's only because I'm not smart enough to access the good ones (ie: having a different home in your wife's name or having your investments go to a holding company that pays you a deferred salary, etc)
|
|
#
?
Mar 1, 2021 00:45
|
|
|
I like the "In or Out" spreadsheet. It confirms advice that some of the more thoughtful personal finance writers have advocated for awhile: if you're in a lower tax bracket, focus on TFSA first. If you're in a higher tax bracket (like marginal tax rate >40%), switch to focusing on RRSPs. (And if you're in that boat you're probably older and/or have maxed out your TFSA anyway) I also like the advice that you discount RRSP assets when calculating your net worth. It's easy to get focused on that number and forget there's a tax bill owing on that amount. Cold on a Cob fucked around with this message at 03:04 on Mar 1, 2021 |
|
#
?
Mar 1, 2021 03:02
|
|
|
Cold on a Cob posted:I also like the advice that you discount RRSP assets when calculating your net worth. It's easy to get focused on that number and forget there's a tax bill owing on that amount. Agreed. And "I don't know the future so I'll just assume a tax rate of 0%" is not very helpful or realistic. It also comes into play with asset allocation and location, as explained in this post. Looking at the pre-tax number can mean you're ultimately taking on more or less risk than you thought.
|
|
#
?
Mar 1, 2021 05:02
|
|
|
Is Blackrock a trustworthy company compared to Vanguard? I liked how Vanguard is only accountable to the people who invest in them which keeps MER low. Blackrock seems to be relatively new to these asset portfolios.
|
|
#
?
Mar 1, 2021 16:59
|
|
|
Kraftwerk posted:Is Blackrock a trustworthy company compared to Vanguard? I liked how Vanguard is only accountable to the people who invest in them which keeps MER low. Blackrock seems to be relatively new to these asset portfolios. Yeah it's fine.
|
|
#
?
Mar 1, 2021 17:05
|
|
|
I think the answer is "yeah, it's cool", but just double checking, there's nothing I have to worry about with buying US ETFs in my RRSP right? (IYT and TAN if you're wondering) No weird tax stuff I need to make sure to do? I double checked a couple places, but just wanted to be sure before I go through the whole Norbert's gambit thing.
|
|
#
?
Mar 1, 2021 18:30
|
|
|
VelociBacon posted:Yeah it's fine. Ok, one more thing. Putting my 1000 initial + 300 per month into XEQT for the next 20-30 years seems like a sound strategy. My paranoid side occasionally wonders if I will lose my money forever because of some gigantic economic disaster that we don't know is coming in that time period but who knows. What I can be sure about is I'm below the 40% marginal tax bracket, I'm 33 years old and I want to retire around 68. So TFSAing my way into equities over a long time horizon seems like the way to go unless my salary goes up so much that I can benefit from RRSPs. It feels weird putting all my money in one fund but I have to remind myself I am not YOLOing into a meme stock. It's all being managed carefully for me. Now for the bigger question. I have a long way to go before I need to worry about this but what is the questrade process for rebalancing this 1 fund portfolio to safer investments as I get older? Like barring an asteroid impact or some kind of global disaster, or an extremely desperate financial situation, I can't see myself needing any of this money any time soon. So assuming this fund has compounded with DRIP over the next 10-15 years, when do I start shifting my assets to "safer" funds. At some point I'm going to have to take my profits and start "locking them in" for the retirement home stretch. Assuming my portfolio has grown the right way and I made all the contributions I needed to, what does retirement look like? How do I "cash in"?
|
|
#
?
Mar 1, 2021 18:38
|
|
|
odiv posted:I think the answer is "yeah, it's cool", but just double checking, there's nothing I have to worry about with buying US ETFs in my RRSP right? (IYT and TAN if you're wondering) There might be something you have to file with the IRS once you hit a certain dollar amount in US-listed securities? That's all I can think of. Kraftwerk posted:Ok, one more thing. Right, those asset allocation funds have thousands of underlying securities, you're not really just buying one thing. Drawdown is complicated and I've largely punted on thinking about it too hard, making it future-me's problem. So I don't have much in the way of specifics, just some general thoughts. The usual advice is to sell some equities and move them into bonds, GICs, or cash over time. Selling a couple shares of VEQT to cover the dinner check isn't terribly efficient and risks big swings. How much to sell, how fast, and starting when are all variables that don't seem to have one-size-fits-all answers. Some people do a gradual shift to bonds over many years (target date funds usually do this, if you want a path to follow). Some people keep 5 years of spending in cash/GICs and leave the rest invested in equities, because maybe you'll have a solid couple decades of retirement and that's been plenty of time to weather past market crashes. And there will be people everywhere in between and beyond. You'll have required RRSP withdrawals. You'll have OAS and CPP. You keep getting more TFSA room the whole time. It just goes on and on. tl;dr have enough cash to live for a couple years and invest the rest such that it feels fairly safe. edit: Oh, you asked for trading specifics. If, for example, you read up on target date fund glide paths and decide that's just the thing for you, then you would keep track of your portfolio allocation and rebalance (sell what you have too much of and buy what you have too little of) periodically (like once a year) to get yourself to your desired % of bonds and equities. New contributions could be split between the bond fund and the equities fund to keep your allocation, or you could just keep contributing to equities and wait for the annual rebalance to sell and buy at once. Does that make sense? pokeyman fucked around with this message at 20:23 on Mar 1, 2021 |
|
#
?
Mar 1, 2021 20:16
|
|
|
Some funds (like the Blackrock Lifepath Index ) have a "target" retirement date and automatically shift their allocations as time progresses so you don't have to. Otherwise, you manually start allocating more and more conservatively as you get closer to retirement.
|
|
#
?
Mar 1, 2021 20:41
|
|
|
Does anyone have thoughts about buying real estate vs. REITs or general index funds? Like, can renting and investing rival buying? Even if you get exposure to the real estate market, you'd get way more return if you bought real estate using the home buyers plan, and paid your rent toward your own equity, right? (With more risk/less diversification of course.)
|
|
#
?
Mar 1, 2021 20:44
|
|
|
I think the biggest advantage your own real estate would have is that capital gains don't apply to your primary residence, so if you're comfortable selling and moving to cash in it could be quite powerful. Outside of that though most broad market ETFs with their dividends reinvested do pretty well against real estate. REITs do fine as well but if you want to beat the market in a hot area like Toronto it's probably too late in the game unless you have a time machine 
|
|
#
?
Mar 1, 2021 20:49
|
|
|
Real estate can be a big  on its own.As a home owner, yes, you can build up your equity but you are also on the hook if the market goes down and you still have all the negative ramifications that go along with being a land haver. Taxes, certain utilities, higher insurance, general maintenance, etc. It's absolutely not all upside. It's certainly an old fashioned way to accrue wealth and a way to work around capital gains (primary residence at least) but it is by no means without risk and certainly not a no-lose proposal. Personally, I have decided to have my home as it's own thing and I do not have it figured into my retirement plan at all.
|
|
#
?
Mar 1, 2021 20:52
|
|
|
Yeah it's really a cultural thing in Canada to use the house as your only real savings vehicle which is scary cause it's not paying dividends or whatever. It certainly can appreciate in value but gaining the value through a HELOC is a situational thing so I'm with slidebite 100% about it being not my retirement plan.
|
|
#
?
Mar 1, 2021 20:55
|
|
|
It's a nice hedge against increasing rent as well, especially in non-rent controlled areas. But yeah, we Canadians absolutely do not consider the downsides, potential losses, risks of ownership, etc, and those of us that do and think prices should reflect these risks have been pushed out of the market now.
|
|
#
?
Mar 1, 2021 20:59
|
|
|
Say you use the HBP to loan from your RRSP to buy your first, primary residence. Since you don't pay income tax on the HBP/RRSP or capital gains on your primary residence, doesn't this effectively convert the cash from an RRSP to a TFSA in-place? The math on investing and returns makes sense to me, but there are tax incentives that apply to real estate and not ETFs.
|
|
#
?
Mar 1, 2021 21:22
|
|
|
You do have to repay the HBP funds starting a couple years later or else you eat the tax hit. Better off repaying sooner than later if possible for to restore the sheltered investment gains, but don't know how common that is...
|
|
#
?
Mar 1, 2021 21:29
|
|
|
Kraftwerk posted:Now for the bigger question. I have a long way to go before I need to worry about this but what is the questrade process for rebalancing this 1 fund portfolio to safer investments as I get older? Personally I've become such a fan of one-fund solutions, I would just completely sell all of one ETF and buy as much of a more conservative one-fund ETF as you get closer and closer to retirement age. The benefits of automatic daily re-balancing are too good to miss out on, IMO, given how much markets can shift in exceptional 24 hour periods. Something like XEQT > VGRO > VBAL > VCON, assuming that it's all in registered accounts and it's not a recession when the changeovers happen. Unregistered accounts are trickier because of The Superficial Loss Rule.
|
|
#
?
Mar 1, 2021 21:30
|
|
|
xtal posted:Say you use the HBP to loan from your RRSP to buy your first, primary residence. Since you don't pay income tax on the HBP/RRSP or capital gains on your primary residence, doesn't this effectively convert the cash from an RRSP to a TFSA in-place? The math on investing and returns makes sense to me, but there are tax incentives that apply to real estate and not ETFs. And you still have the potential risk of real estate. I'm not saying do not buy real estate. It absolutely can be a good, valuable investment, but like anything else it should be part of a varied portfolio. I own my home free and clear and I absolutely recognize it's a great position to be in, but those people that parrot "throwing money away" on rent and the such drive me up the wall. It's much more nuanced than that and not nearly as simple of a decision as they would like to believe.
|
|
#
?
Mar 1, 2021 21:37
|
|
|
As per usual, there's an excellent and relevant Ben Felix video on the subject. Further resources in the description box thingy. https://www.youtube.com/watch?v=Uwl3-jBNEd4
|
|
#
?
Mar 1, 2021 22:12
|
|
|
xtal posted:Does anyone have thoughts about buying real estate vs. REITs or general index funds? Like, can renting and investing rival buying? Depends, but it seems to come down to whether home values appreciate fast enough to turn the leverage into an impossible advantage. Also, the renter needs to make sure to save what they don't have to spend on the home they didn't buy (whereas people seem to have an easier time forcing themselves to pay their mortgage). After watching the above video, I highly recommend fiddling with the spreadsheet behind it, which for some reason doesn't seem to be linked in the description.
|
|
#
?
Mar 2, 2021 00:32
|
|
|
Edit wrong thread!
|
|
#
?
Mar 2, 2021 01:06
|
|
|
Purchasing physical real estate also generally comes with heavy leveraging. From a leverage standpoint, a 10% downpayment is equivalent to buying a REIT where you've buying 90% of the value on margin. In theory that comes with all the risks of heavy leveraging, but realistically the entire market is so leveraged and makes up such a large fraction of the national economy that you can maybe count on some sort of protection from the government and leeway from the banks if it really tanks? That's screwed up, but maybe true. It part of why the returns seem so significant in real estate. People are heavily leveraged on an asset that gets treated as only increasing in value from a risk standpoint, and then those leveraged capital gains aren't taxed if it's your primary residence.
|
|
#
?
Mar 2, 2021 01:54
|
|
|
T.C. posted:Purchasing physical real estate also generally comes with heavy leveraging. From a leverage standpoint, a 10% downpayment is equivalent to buying a REIT where you've buying 90% of the value on margin. In theory that comes with all the risks of heavy leveraging, but realistically the entire market is so leveraged and makes up such a large fraction of the national economy that you can maybe count on some sort of protection from the government and leeway from the banks if it really tanks? That's screwed up, but maybe true. House prices are accruing in value faster than people can save for them. By my math, unless you decide to own a home somewhere far far away from the GTA you will never be able to afford one. I have given up on home ownership and resigned myself to either renting, living with family (who in their retirement are happy to have me pay their property taxes for them) or living with a life partner. The only saving grace to all this is that they drew a red line and refuse to ever touch the equity on their home. They have plenty to retire on which means one day (I'm ashamed to say this) I'll have a house via inheritance. Everyone I know thinks this is terrible and that I should instead have them HELOC the poo poo out of their property so I can buy my own and then rent theirs out when they pass. Not my style. And I am not going to live my life betting on inheriting property.
|
|
#
?
Mar 2, 2021 02:16
|
|
|
Really, I don't know why you're so chuffed about housing prices when you have 10,000 bitcoins.
|
|
#
?
Mar 2, 2021 02:38
|
|
|
So folks- I'm a 33 year old fellow who went deep on post-secondary to get a PhD. Only officially started my career at the tail end of 2018, finished paying my student loans last September, and as of yesterday I am a first time investor. I am now the proud owner of a bunch XGRO.TO stocks purchased through my previously untapped-TFSA via QuesTrade. If I'm feeling disciplined and realize I can tolerate more volatility after some experience, I may switch to XEQT down the road (though hopefully not too far). In any case, I'm curious how much I should be retaining in my savings (for immediate use) versus investments. My bank requires I keep $6k in the account for a premium account with no fees. Given monthly expenses of $2800-3000/month, I figure $15k in immediate savings is a good benchmark to ensure I always have enough for my monthly expenses + minor/moderate emergencies. I plan to dump pretty much whatever else I earn into that TFSA until I hit my cap, and by that time I should be a little later in my career and well-positioned for RRSP contributions. Does this seem like a reasonable plan? I've been surprised by the relative liquidity of the TFSA EFTs- seems like it would only take 1-2 business days to pull anything (or everything) out if I needed to, and I have a LoC to cover the gap in a worst case scenario. So I'm wondering if sitting on $15k in a savings is almost too much- That's 3 months of my expenses completely covered before I even hit the fee cap for my savings. And I have an additional two months after that. So 5/6 months in total. Is this just another question of my risk tolerance or am I being overly conservative? Also, seems I bought at a good time too- Monday, 1st of the month, and 9:30am seem to have some effect on pricing when I look back? PoizenJam fucked around with this message at 14:36 on Mar 2, 2021 |
|
#
?
Mar 2, 2021 14:24
|
|
|
|
| # ? Apr 25, 2024 20:24 |
|
|
I believe the conventional wisdom is 3-6 months of expenses in cash for emergencies. But I agree with part of your post about how you can get away with less as long as you can liquidate more in enough time when needed. There is additional risk that you might need to cash out during a market downturn, and since you mentioned it's a TFSA, that also has implications for your contribution room.
|
|
#
?
Mar 2, 2021 14:30
|
|