VDY does better @ 0.22% MER.
VDY does better @ 0.22% MER.
I have no problem paying the 2 + MER when the return more than decent.This quote is hidden because you are ignoring this member. Show Quote
I see your point. That is why I was asking what kind of funds people are putting their money on when it comes to RESP
Last edited by ganesh; 02-15-2024 at 09:03 PM.
Thanks for this. Will look into thisThis quote is hidden because you are ignoring this member. Show Quote
Considering a Wealthsimple cash account is at minimum 4% with no fee, I'd agree.This quote is hidden because you are ignoring this member. Show Quote
Ultracrepidarian
If you are contributing 208/month (total of $42,432 contributed lifetime) a 2% mutual fund fee will end up being over $11,000 in fees over the life of the RESP
_____ASP______
current ski quiver:
park, all mtn 181 ON3P Kartel 98
park,all mtn: 181 Armada AR7
big mtn, pow: 185 Armada JJ
We put in 150/bi-weekly.This quote is hidden because you are ignoring this member. Show Quote
Thanks for sharing this. This definitely opens my eye. I need to look at other options.
Btw, where did you get this information from ?This quote is hidden because you are ignoring this member. Show Quote
It’s just Marth but yes fees fees fees lol
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Yea it’s just math, td is taking 2% off the top to get you the same return as a fund with a tenth the mgmt fee
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
I get this. What I was asking is the number asp intergra posted.This quote is hidden because you are ignoring this member. Show Quote
Different places show different numbers. Obliviously Some of them are putting the gain as 0 and others have a bigger gain to paint different picture
It really depends how long and what market rate you think you'll get.
Assuming 18 years
$200/month @ 5% is 69.8k (43.2k your contribution + 26.6k interest)
$200/month @ 7% is 86.1k (43.2k your contribution + 42.9k interest)
Losing 2% is quite significant. 14k in this case.
Gain? You mean like investment returns?This quote is hidden because you are ignoring this member. Show Quote
No one knows what future returns will be so there isn’t much point in comparing them, the real point to focus on is that TD is not getting you a better return on a broad market fund like that than literally anyone else.
Mutual funds exist to gouge clients and enrich salesman/fund managers. Full stop.
Even TD will sell you an ETF that will generate similar returns for a management fee a small fraction of what that fund is costing you.
to:dr Mutual Funds are a scam to prey on the financially illiterate. Don’t buy them.
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
Why CBIL? Looks like it has no growth staying within $49-50.25 per share with a 5% dividend. Isnt that the same thing as CASH.TO or am i missing something?This quote is hidden because you are ignoring this member. Show Quote
My lord. Just checked my TD resp - still somewhat early enough to avoid major loss, but it’s insane.
2.23 - thanks for the awareness, folks.
"The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."
-H.P. Lovecraft
Either is fine. CBIL invests in t-bills which I suppose is "safer" than CASH.This quote is hidden because you are ignoring this member. Show Quote
OSFI decision may impact CASH's distribution however.
Last edited by suntan; 02-16-2024 at 04:02 PM.
Last year I ended my 'semi retirement' and started up a new career, I sell RESP's with a company called CST Savings. One of our main selling points is 1/4 the fees VS a typical bank RESP that invests in mutual funds. That 2% number is fairly standard for mutual funds and ends up costing around $11,500 in fees when it matures at 17 years.This quote is hidden because you are ignoring this member. Show Quote
_____ASP______
current ski quiver:
park, all mtn 181 ON3P Kartel 98
park,all mtn: 181 Armada AR7
big mtn, pow: 185 Armada JJ
Moderately interesting to follow up on my own comments from 3+ years ago. Theory has been put into practice and it's working out quite well. I've paid for the first four semesters of tuition & books for my oldest and to date, my total balance on the RESP investment account is the same (possibly a touch higher) than when I started. At the beginning of each semester I've cashed out enough to cover the costs for that period and before the next one hits, the investment gains have replenished the fund. Between the grant money and the investment gains which are taxable to my kid, who pays basically nothing anyway...free university??? When #2 comes along I'm sure I'll start seeing a draw-down on the total balance, but there's enough grants & gains in there that I'm pretty sure I'm going to get 100% of my original capital plus a bunch of investment gains back. I guess this is how it's SUPPOSED to work, right?This quote is hidden because you are ignoring this member. Show Quote
"Masked Bandit is a gateway drug for frugal spending." - Unknown303
Nice! Hope I'm so lucky to have that same experience way down the road
This quote is hidden because you are ignoring this member. Show Quote
That's how it's supposed to work. What I tell people is that if you take a portion of your CCB payment and put it toward your child's RESP monthly, then add the gov't grants, essentially you end up with the government paying for and filling up the entire RESP with no out of pocket to you. Nothing wrong with having a $60,000-$80,000 RESP for your child come post secondary time funded entirely by the government.
_____ASP______
current ski quiver:
park, all mtn 181 ON3P Kartel 98
park,all mtn: 181 Armada AR7
big mtn, pow: 185 Armada JJ
I'd like to talk to you further about this @asp integraThis quote is hidden because you are ignoring this member. Show Quote