Page 15 of 15 FirstFirst ... 5 10 11 12 13 14 15
Results 211 to 225 of 225

Thread: Investment Opportunities?

  1. #211
    Mr. Guru's Avatar
    Mr. Guru is offline
    Join Date
    Aug 2009
    Posts
    9,529
    Location
    Toronto
    Rep Power
    50

    The Great One

    Default Re: Investment Opportunities?

    Lol to banks taking trading fees

    I'm at about 80% of my liquid net worth in crypto now😮

  2. #212
    Mr. Guru's Avatar
    Mr. Guru is offline
    Join Date
    Aug 2009
    Posts
    9,529
    Location
    Toronto
    Rep Power
    50

    The Great One

    Default Re: Investment Opportunities?

    Quote Originally Posted by StuntMan12 View Post
    I have roughly 10k invested so far and I just used a scotia momentum savings account. I don't have a TFSA. I wanted to invest some more, so wonder if I should wait until I open a TSFA? Or am I already screwed.
    You definitely have to open a TFSA and fund it with that 10k you are talking about. This will save you taxes in the future on any gains.

  3. #213
    Mr. Guru's Avatar
    Mr. Guru is offline
    Join Date
    Aug 2009
    Posts
    9,529
    Location
    Toronto
    Rep Power
    50

    The Great One

    Default Re: Investment Opportunities?

    Quote Originally Posted by StuntMan12 View Post
    Holy moly so if u cash out 30k you basically pay roughly $400 premium. Taxes on top of that. There are some Canadian stocks I am eyeing up but interested in putting a chunk into The Tattoed Chef company.
    Not necessarily. The exchange could be much different by the time you want to cash out. Both in your favour or not.
    \

  4. #214
    blayze's Avatar
    blayze is offline
    Join Date
    Sep 2010
    Posts
    15,241
    Location
    Toronto
    Rep Power
    50

    Dobber Sports Ninja

    Default Re: Investment Opportunities?

    Quote Originally Posted by Mr. Guru View Post
    Not necessarily. The exchange could be much different by the time you want to cash out. Both in your favour or not.
    You're paying the SPREAD - regardless of which way it goes. So yes - he is correct.

  5. #215
    Rep Power
    50

    Dobber Sports Monster

    Default Re: Investment Opportunities?

    Quote Originally Posted by Mr. Guru View Post
    You definitely have to open a TFSA and fund it with that 10k you are talking about. This will save you taxes in the future on any gains.
    Dam, so I royally screwed up on that one. I will leave what's in there as is, as for the rest I was going to invest, I will wait until my TSFA is opened.

  6. #216
    Location
    Beaumont, AB
    Rep Power
    50

    Dobber Sports Icon

    Default Re: Investment Opportunities?

    You should be able to easily transfer your current holdings in your non-registered account (your momentum account) into a TFSA. Just talk to the bank and they will be able to walk you through the process. Doing this now instead of later is really in your best interest.

    Here is a graph showing the difference in growth between a non-registered account and a TFSA. In the graph, the initial investment in $10,000 and there is an annual deposit of $1200. The graph assumes a 30% tax rate and that all the growth is capital gained and is taxed at 50%. The difference would be even greater if your tax rate is higher or if you deposit more money or if your rate of return is higher.

    Screenshot 2022-01-18 105842.jpg
    Last edited by chuckcouples; January 18, 2022 at 12:59 PM. Reason: More info

  7. #217
    Rep Power
    50

    Dobber Sports Monster

    Default Re: Investment Opportunities?

    If we are headed towards a recession, is it best to just sit on your money for now? Or pull money out of stock market?

  8. #218
    blayze's Avatar
    blayze is offline
    Join Date
    Sep 2010
    Posts
    15,241
    Location
    Toronto
    Rep Power
    50

    Dobber Sports Ninja

    Default Re: Investment Opportunities?

    Quote Originally Posted by StuntMan12 View Post
    If we are headed towards a recession, is it best to just sit on your money for now? Or pull money out of stock market?
    If you have a crystal ball and can forsee a global recession then yes it would be best to pull money out of the market.

    For the rest of us who aren't psychic it's best to hold for the long term and ride out any market cycles.

  9. #219
    Location
    Beaumont, AB
    Rep Power
    50

    Dobber Sports Icon

    Default Re: Investment Opportunities?

    Do you need the money for spending within a year? If the answer is no, then keep it invested.

  10. #220
    Stifler's Avatar
    Stifler is offline
    Join Date
    Feb 2011
    Posts
    763
    Rep Power
    19

    Dobber Sports Initiate

    Default Re: Investment Opportunities?

    Quote Originally Posted by chuckcouples View Post
    You should be able to easily transfer your current holdings in your non-registered account (your momentum account) into a TFSA. Just talk to the bank and they will be able to walk you through the process. Doing this now instead of later is really in your best interest.

    Here is a graph showing the difference in growth between a non-registered account and a TFSA. In the graph, the initial investment in $10,000 and there is an annual deposit of $1200. The graph assumes a 30% tax rate and that all the growth is capital gained and is taxed at 50%. The difference would be even greater if your tax rate is higher or if you deposit more money or if your rate of return is higher.

    Screenshot 2022-01-18 105842.jpg
    If you're in Canada there's 4 ways you can invest legally without taking real estate into account

    RRSP, Non Registered accounts, TFSA, and tax shelters.
    Within all these different options there is advantages/disadvantages to be had, and you can hold stocks/mutual funds etc. in each one of them.

    So it all depends on whether you need a tax break now, a tax advantage later.
    That said, TFSA should be your first look for sure simply because its tax free.

    I'm sure most of you know this but it's a good reminder.

    Also, I would highly recommend to not have the banks involved in your investment portfolio. I much prefer dealing with a broker who isn't bound to 1 specific set of products.

  11. #221
    Mr. Guru's Avatar
    Mr. Guru is offline
    Join Date
    Aug 2009
    Posts
    9,529
    Location
    Toronto
    Rep Power
    50

    The Great One

    Default Re: Investment Opportunities?

    Stifler you should totally be a Bitcoin guy.

    Decentralization is your thing, no?

  12. #222
    Stifler's Avatar
    Stifler is offline
    Join Date
    Feb 2011
    Posts
    763
    Rep Power
    19

    Dobber Sports Initiate

    Default Re: Investment Opportunities?

    I'm not a fan of the cryptocurrency hype that is going on. So i'll avoid that market for now, until i may understand it more.

  13. #223
    Mr. Guru's Avatar
    Mr. Guru is offline
    Join Date
    Aug 2009
    Posts
    9,529
    Location
    Toronto
    Rep Power
    50

    The Great One

    Default Re: Investment Opportunities?

    You're not a fan of taking the money out of "the system" and putting it in a entity that no one can take from you or your kids or kids kids?

    Canadian banks are worse than big pharma!

  14. #224
    Rep Power
    50

    Dobber Sports Monster

    Default Re: Investment Opportunities?

    Anyone here invest into Docebo Inc (DCBO)?

  15. #225
    Stifler's Avatar
    Stifler is offline
    Join Date
    Feb 2011
    Posts
    763
    Rep Power
    19

    Dobber Sports Initiate

    Default Re: Investment Opportunities?

    Quote Originally Posted by Mr. Guru View Post
    You're not a fan of taking the money out of "the system" and putting it in a entity that no one can take from you or your kids or kids kids?

    Canadian banks are worse than big pharma!
    I do agree that banks are a terrible place to invest. That said, a digital currency is quite easily to be taken from you. Like I said, maybe when I understand it more I'd be interested but for now I'll go elsewhere.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •