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Since the last time I was employed, the government implemented TFSAs. I finished my current grad studies, and that's pretty great, and I have some GICs ( ) from when I was an intern that are maturing in a month or two. I'd like to move my money into a more favourable investment setup, and indexed mutual funds sound cheap and stable and brainless, which appeals to me. I also have a really low cost of living (no kids, no plan for kids, no intention to own a house, really cheap hobbies), so I plan to make some pretty big contributions when I start working full-time. I get that TFSAs are pretty baller, and they become even more baller when you use them to invest, and I think that hitting the cap is going to be pretty easy for me.My question is this: when I go to TD and ask them to make me a TFSA mutual fund account, will I then have to ask them to make that TFSA an e-Series mutual fund TFSA to invest with the money I put there? And then, if I wanted to contribute more to my retirement than the TFSA cap, would I need a second e-Series mutual fund non-TFSA account to shovel additional money into, or can I just keep dumping money into the TFSA and just pay tax on it normally?
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Sep 15, 2013 07:41
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| # ¿ Apr 23, 2024 12:35 |
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Lexicon posted:The internet is absolutely stuffed with sources on this. Reading Bernstein's The Four Pillars of Investing is how I was initially convinced. To start with, read that Andrew Coyne FP article I posted last page. Here's a really funny anecdote that's currently going on about this: Warren Buffett made a bet with Protege Partners, a Wall Street hedge firm, that they could not beat the S&P 500 index fund from Vanguard with a fund that pools into their five finest hand-picked hedge funds (including, most likely, one hedge fund under their direct control). The last I read about it (from the 5-year mark), Buffett's single-index portfolio has returned 8.69% over five years, while the Protege hedge fund of funds is at 0.13%. Matt Taibbi called it "the sort of plain-vanilla investment that Warren Buffett used to publicly kick the rear end of Wall Street's cockiest hedge fund." Bleu fucked around with this message at 13:17 on Oct 7, 2013 |
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Oct 7, 2013 13:06
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