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Thread: Investment Opportunities?

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    Quote Originally Posted by Axeman33 View Post
    I primarily deal with CIBC. From what I can see they offer online investing through their CIBC Investors Edge application. They charge $6.95 per trade which I assume is good. Maybe I'll sign up for that and start doing some research on how to invest. Any opportunity to make money is a good thing.
    wow, 6.95 is very good - do you know if there are any exceptions to that or if it's 6.95 for every trade, no matter what?

    It's pretty amazing, many years ago, I was paying $29 per trade on shares over $1 or $2, can't remember which. And penny stocks were 1.5% of the transaction value. On both sides ! Crazy rip off. Back then, commissions were the biggest oversight by many, including me, of how hard trading is.
    Don't trade, youngens. Unless you have a gift, of course. But most people (and I am pretty sure the data backs me up on this) lose their shirts when they try to trade.
    If I could go back in time, boy oh boy, like Biff giving the sports almanac to young Biff, passive low-fee index ETFs that pay a dividend. And leave em alone.
    No regrets though, I took a chance wanting to retire young. Didn't work out. Trading is like gambling. Picking individual stocks is basically gambling too.

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    Default Re: Investment Opportunities?

    Quote Originally Posted by Auston'sWilly View Post
    wow, 6.95 is very good - do you know if there are any exceptions to that or if it's 6.95 for every trade, no matter what?

    It's pretty amazing, many years ago, I was paying $29 per trade on shares over $1 or $2, can't remember which. And penny stocks were 1.5% of the transaction value. On both sides ! Crazy rip off. Back then, commissions were the biggest oversight by many, including me, of how hard trading is.
    Don't trade, youngens. Unless you have a gift, of course. But most people (and I am pretty sure the data backs me up on this) lose their shirts when they try to trade.
    If I could go back in time, boy oh boy, like Biff giving the sports almanac to young Biff, passive low-fee index ETFs that pay a dividend. And leave em alone.
    No regrets though, I took a chance wanting to retire young. Didn't work out. Trading is like gambling. Picking individual stocks is basically gambling too.
    From what I've read, thats every trade, no matter what.
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    Default Re: Investment Opportunities?

    Quote Originally Posted by Axeman33 View Post
    I primarily deal with CIBC. From what I can see they offer online investing through their CIBC Investors Edge application. They charge $6.95 per trade which I assume is good. Maybe I'll sign up for that and start doing some research on how to invest. Any opportunity to make money is a good thing.
    Cool. Glad for all the info/comments in this thread. I have some cash just sitting around and I see a prime opportunity for investment over the next few months...just need to pick the right stocks/funds!
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    Default Re: Investment Opportunities?

    In case it hasn't been mentioned yet, I 100% endorse Questrade as a trading platform. It's FREE to buy ETF's, and selling cost's something like $4.99-$9.99 per trade depending on the # of shares.

    Also in case it hasn't been mentioned yet (sorry, I should really read the whole thread), new investors should look into investing within a TFSA. Most people utilize their RRSP through their employers, but the TFSA is obscenely underutilized as an investing account. Don't just open a regular account for stocks/ETF's if you have TFSA room.

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    Quote Originally Posted by forumname View Post
    Also in case it hasn't been mentioned yet (sorry, I should really read the whole thread), new investors should look into investing within a TFSA. Most people utilize their RRSP through their employers, but the TFSA is obscenely underutilized as an investing account. Don't just open a regular account for stocks/ETF's if you have TFSA room.
    This is a great point. Many people just don't realize this - I think it's because of the word "savings" in TFSA. They think it's limited to only that.
    Anything (well, almost anything) you can buy in your cash trading account, you can also buy within an RRSP or TFSA.
    One exception that comes to mind is something like GBTC - Grayscale Bitcoin trust - which is an easy way for Bitcoin exposure - you can only buy something like that in your cash account, not a registered one. Not sure why.

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    Quote Originally Posted by chuckcouples View Post
    Zoom Communications would be a company I would look into.
    Zoom is up about 44% in the past 10 days.

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    Quote Originally Posted by forumname View Post
    In case it hasn't been mentioned yet, I 100% endorse Questrade as a trading platform. It's FREE to buy ETF's, and selling cost's something like $4.99-$9.99 per trade depending on the # of shares.

    Also in case it hasn't been mentioned yet (sorry, I should really read the whole thread), new investors should look into investing within a TFSA. Most people utilize their RRSP through their employers, but the TFSA is obscenely underutilized as an investing account. Don't just open a regular account for stocks/ETF's if you have TFSA room.
    TFSA is not for everyone either. Really depends on a few different factors.

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    Quote Originally Posted by doulos View Post
    TFSA is not for everyone either. Really depends on a few different factors.
    If you're a high earner with RRSP room (and you expect to be earning less when you withdrawal it) then yes, that should be filled before a TFSA. Are there any other cases you had in mind where it wouldn't make sense for someone?

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    Quote Originally Posted by blayze View Post
    "Financial Advisor" = previously unemployed dude with zero financial knowledge who did a 3 week training course where he was trained to push the bank's wonderful mutual fund products as mentioned above.
    *Biased opinion to follow as I am a "financial advisor"*

    This is true in many cases but a good financial advisor is worth every penny. Most people who call themselves "financial advisors" are actually exactly what you called them; they are sales people trained to sell a product. These are not the good financial advisors and these are definitely not someone you need to be talking to or paying for their "advice".

    When I meet with a potential client, investment selection does not even enter our conversation until it is determined that they should be making investments. We spend the majority of our time talking about their current financial situation. We talk about necessary information such as income and expenses, assets and liabilities, insurance needs and current coverage, cash flow, risk tolerance, timelines, goals. These are the aspects that a good financial advisor need to be talking to you about so they can figure out where you. Without knowing where someone is, it is impossible to suggest to them what they need to do to achieve their goals.

    Financial planning is just like most other things in life in that you can learn to do it yourself but is that really worth your time. We can all learn to fix our cars, grow our own food, sew our own clothes, write our own wills, design and build our own homes yet most of us hire experts to do these things for us. We hire them because our time is better spent on doing things that we love to do and/or are good at. The key is to find someone who knows what they are doing before you hire them to do it for you.

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    Quote Originally Posted by forumname View Post
    If you're a high earner with RRSP room (and you expect to be earning less when you withdrawal it) then yes, that should be filled before a TFSA. Are there any other cases you had in mind where it wouldn't make sense for someone?
    Another time TFSAs should not be used is if you are an American citizen and a Canadian resident. The US does not recognize the tax free part of TFSAs and all American citizens must file a US tax return every year regardless of where they live.

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    Default Re: Investment Opportunities?

    Lots of good advice in here. Investing is daunting at first but once you do a little bit of reading and understand the basics of the types of accounts: RRSP, TFSA, "Cash Account", as well as the types of investments: ETFs, Mutual Funds, individual stocks, bonds, GICs the general principles are pretty easy.

    If I could recommend only one site for the beginning investor it would be: https://canadiancouchpotato.com/

    It lays out the idea of the "couch potato" portfolio: where you buy a very simple bundle - maximum 3 items - and sit on your couch and let the market do the rest.

    Also, the best mantra is "Time IN the Market will always beat TIMING the Market. i.e. If you invest over a long-enough term you will do better than trying to guess what is going to happen.
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    TFSA should be used up asap imo. The money made in there is tax sheltered when withdrawn regardless of financial situation. RRSP is a great place to invest as well but if you have a pension etc, you will be paying tax when you withdraw that money at whatever the rate is in 10, 20, 30 years... I suppose as long as your bracket is lower when retiring its fine.
    TFSA money is pretty easily accessed if needed in an emergency with the caveat that you cannot deposit more than your contribution limit in one year regardless of how much you may have withdrawn. The withdrawn amount is added to the limit for the following year. The only bad thing im finding with the TFSA is that once you have maxed it out, its impossible to take advantage of times like this unless you have some cash in there (and you always should). Id love to add now but have to wait until 2021.

    CIBC IE is pretty decent for self directed investing, they don't seem to have the same issues as TD and some others during high volume days. If do you enough trades with CIBC in a calendar year (150 i think) they will lower your fee to 4.95 for the rest of the year.

    Still waiting on SPY ETF to see a $180 price tag... then ill re-evaluate the situation.
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    Default Re: Investment Opportunities?

    So I've had a little time to do some reading but not much. I've been busy getting work done at my cottage with my free time.

    I am probably going to go with an ETF to start but I am curious, do different ETFs focus on different sectors?
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  14. #59
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    Quote Originally Posted by forumname View Post
    If you're a high earner with RRSP room (and you expect to be earning less when you withdrawal it) then yes, that should be filled before a TFSA. Are there any other cases you had in mind where it wouldn't make sense for someone?
    That was the key situation for sure. RRSP room and if your current tax rate is higher than what you expect your retirement tax rate to be. You don't even need to be that high of an earner. You might be someone who is expecting to live a very simple life in retirement and an RRSP makes sense for you in that situation.

    You no doubt know all this.

    There is this general idea being tossed around these days that you're crazy if you're not depositing into your TFSA over your RRSP, when in fact there are very good reasons not to do so for certain people.

    I remember back when I was a quite young, my grandparents were ranting about how much tax was being taken off when they were cashing out of their RRSP accounts for retirement and they were telling people it was a scam and not to use RRSPs for anything. I spent some time looking into it since I didnt know any better and I had to wonder what they were expecting. People go their whole lives not even understanding how their own investments work and then get into retirement and use words like "scam" because they never bothered to put effort into understanding it. Frustrating.

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    Quote Originally Posted by LawMan View Post
    Lots of good advice in here. Investing is daunting at first but once you do a little bit of reading and understand the basics of the types of accounts: RRSP, TFSA, "Cash Account", as well as the types of investments: ETFs, Mutual Funds, individual stocks, bonds, GICs the general principles are pretty easy.

    If I could recommend only one site for the beginning investor it would be: https://canadiancouchpotato.com/

    It lays out the idea of the "couch potato" portfolio: where you buy a very simple bundle - maximum 3 items - and sit on your couch and let the market do the rest.

    Also, the best mantra is "Time IN the Market will always beat TIMING the Market. i.e. If you invest over a long-enough term you will do better than trying to guess what is going to happen.
    That was the resource I used to start investing on my own. Great suggestion.

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