That's like asking which brand has the softest boxers without opening the package.
You gotta do SOME homework, silly goose.
The Gimp
That's like asking which brand has the softest boxers without opening the package.
You gotta do SOME homework, silly goose.
Banned
I figured I'd skip some stepsOriginally posted by flipstah
That's like asking which brand has the softest boxers without opening the package.
You gotta do SOME homework, silly goose.Beyond is always telling me how to live my life, why can't they tell me how to invest?
Registered User
The cool thing about RRSP's is that you can access them BEFORE retirement for a few reasons, like going back to school, buying a house etc. If you have a higher chance of using it for that, you don't actually want to be very aggressive at all, since your time horizon is shorter.
if it's truly for retirement, just pick one of those target-date bundle options and be done with it. Zero hassle, just set and forget.
The Gimp
Is this one of those plans that once you leave the company, it turns into a LRA?
That's what happened to mine!
Can't touch it till I actually retire WTF.
If so, follow what JimmyJames said and set it on your ideal retirement year, whether it be 2045 or 2050.
Banned
This is very enlightening.Originally posted by RealJimmyJames
The cool thing about RRSP's is that you can access them BEFORE retirement for a few reasons, like going back to school, buying a house etc. If you have a higher chance of using it for that, you don't actually want to be very aggressive at all, since your time horizon is shorter.
if it's truly for retirement, just pick one of those target-date bundle options and be done with it. Zero hassle, just set and forget.
Sounds to me like a TFSA might be a better fit for me? I don't plan on going back to school (I can see it being necessary though with the way the world works nowadays. I'm 28). Already bought my first place, so no HBP for me. I'd prefer for it to be more accessible.
Further reading makes it seem like the pension and rrsps operate similarly enough to not justify having both. The pension is very well funded, and the payout upon retirement is similiar to what I would shoot for financially if I had no pension and did all the investing myself. Anything further is just additional retirement savings on top of that.
I will have to look into this, I do not know.Originally posted by flipstah
Is this one of those plans that once you leave the company, it turns into a LRA?
That's what happened to mine!
Can't touch it till I actually retire WTF.
If so, follow what JimmyJames said and set it on your ideal retirement year, whether it be 2045 or 2050.
Thanks guys
The Gimp
TFSA vs. RRSP is dependent on your income bracket IMO.
RRSP is just a way to lower the hit and to bring you down a bracket.
TFSA and RRSP are able to be withdrawn; TFSA has no tax reduction, while RRSP does.
LRA, or locked-in retirement account means you can't touch it until you retire. Unless you're going to die soon.
Director of Awesomeness 
It's only worth it to do this through your company if they are matching or the management fees are really low due to it being a group plan. You can usually do better on your own.
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Banned
That's what I figured. There is no matching (confirmed with HR because there was mention of it in the provided documentation), and they quote the "management fees" being low, but if we are talking a 1% difference return on investment in management fee savings, I don't have enough money to remotely make that 1% difference matter.Originally posted by kenny
It's only worth it to do this through your company if they are matching or the management fees are really low due to it being a group plan. You can usually do better on your own.
Registered User
Check the MERs. They may be very, very low. My wife's DC plan has an average MER of 0.03%, managed by Sun Life.
Registered User
Pensions turn into LIRAs when you leave the company - not RRSPs. It's not like you can touch yoru pension if you stay at the company til you retire anyways, so not really sure what the big deal is about that? You can still manage your own investments as a LIRA.
Regarding HiTemp's situation, i am curious what the point is of this program if they don't match? One thing i could see as a benefit is that if you're contributing off your cheque, you would get the tax benefits every pay day instead of just when you do your yearly tax return.
Regarding which plan to pick, if you're not savvy with this stuff i'd weight it heavily towards the 2055 plan. Those plans with years in them are referring to your retirement date and essentially they are designed such that they rebalance every year as you get closer to the year name in the plan with the idea that it starts out risky (mostly equities) and as it gets closer to 2055 they balance more towards cash-type investments like bonds which are less risky. If you look at the 2020 plan (people retiring in 3 years) it would be heavily low-risk investments and barely any risk equities.
My suggestion would be to go with 75% of your contributions to the 2055 plan, then split the remaining 25% across 2-3 other funds that interest you. If you login to the Sun Life website it will show you the previous 3/5/10 year average rates of returns and that can give you an idea of how they are performing. Personally i'd go with US equities type funds... Ca equities are not doing so hot lately, but one could argue that means they also have the biggest growth potential.
Registered User
I'm looking towards putting a big chunk into HMMJ on the dip if it happens. Looking at something in the 10.50 range or under if possible. I think it may be a great medium to long term hold. Never was really into MJ stocks on their own, but love the idea of an MJ ETF.
Director of Awesomeness
Got in at $10.13, will wait for $60 to fund the kids' educationOriginally posted by Disoblige
I'm looking towards putting a big chunk into HMMJ on the dip if it happens. Looking at something in the 10.50 range or under if possible. I think it may be a great medium to long term hold. Never was really into MJ stocks on their own, but love the idea of an MJ ETF.
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Registered User
Not sure how much you are looking to invest but this ETF only holds 10-15 companies. You might be better off just purchasing the stocks yourself.Originally posted by Disoblige
I'm looking towards putting a big chunk into HMMJ on the dip if it happens. Looking at something in the 10.50 range or under if possible. I think it may be a great medium to long term hold. Never was really into MJ stocks on their own, but love the idea of an MJ ETF.
Registered User
Wow great price.Originally posted by kenny
Got in at $10.13, will wait for $60 to fund the kids' education
Naw, I think it is best to stick to the ETF, otherwise it would be a management nightmare. In the end it may not matter too much performance wise, but it would be less work for me in the end. Looking at ~$50k CAD once I start transferring some funds back from US. It won't be long until we see some leveraged MJ ETF'sOriginally posted by roopi
Not sure how much you are looking to invest but this ETF only holds 10-15 companies. You might be better off just purchasing the stocks yourself.
Registered User
"Gee Kenny, how did you ever afford to put your kids through college?!"Originally posted by kenny
Got in at $10.13, will wait for $60 to fund the kids' education
" Drugs. No, seriously. Drugs. "
Haha
Director of Awesomeness
hahah, yeah it'd definitely make for a pretty good story
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Banned
Didn't realize anyone had responded to this, thank you for the detailed reply! I now have some info to go on and will look into it a bit more thoroughly.Originally posted by sabad66
Pensions turn into LIRAs when you leave the company - not RRSPs. It's not like you can touch yoru pension if you stay at the company til you retire anyways, so not really sure what the big deal is about that? You can still manage your own investments as a LIRA.
Regarding HiTemp's situation, i am curious what the point is of this program if they don't match? One thing i could see as a benefit is that if you're contributing off your cheque, you would get the tax benefits every pay day instead of just when you do your yearly tax return.
Regarding which plan to pick, if you're not savvy with this stuff i'd weight it heavily towards the 2055 plan. Those plans with years in them are referring to your retirement date and essentially they are designed such that they rebalance every year as you get closer to the year name in the plan with the idea that it starts out risky (mostly equities) and as it gets closer to 2055 they balance more towards cash-type investments like bonds which are less risky. If you look at the 2020 plan (people retiring in 3 years) it would be heavily low-risk investments and barely any risk equities.
My suggestion would be to go with 75% of your contributions to the 2055 plan, then split the remaining 25% across 2-3 other funds that interest you. If you login to the Sun Life website it will show you the previous 3/5/10 year average rates of returns and that can give you an idea of how they are performing. Personally i'd go with US equities type funds... Ca equities are not doing so hot lately, but one could argue that means they also have the biggest growth potential.
Registered User
My order for HMMJ will be 9.99 as a starting point over the next week or so. Patience for me.
Director of Awesomeness
Time to get inOriginally posted by Disoblige
My order for HMMJ will be 9.99 as a starting point over the next week or so. Patience for me.
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Beyond Bully
9.25 today.
Rather than average down on my Aphria I should just buy some HMMJ eh lol
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
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