I want to move my pension/RRSPs.

[ercchry]

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You need to be in something like GDV. On margin too.

Who tf is giving you margin in a registered account??

[max_boost]

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All you boomers in VGRO.....get rid of the bonds and live a little. VEQT baby

Or just forget about the rest of the world and just go VFV
American exceptionalism fk ya! Lol

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2 weeks is nothing in the grand scheme of things.

Even the best performers have ups and downs in short periods, you have to look at long term performance.

What are you currently invested in?

What are you currently invested in? How’s that 7.2 going

[tonytiger55]

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I know nothing about investing but what I do know is that what I have in my RBC RRSPs seems to be a downward spiral.

I've lost 2k in a week and I don't know on what or where. I have a feeling RBC isn't the best place to have these things. I don't contribute to these at all, I have other ones I contribute to, but am I just being a worrier or should I talk to someone else and have my stuff moved.

Thanks for helping out an investment idiot.
03ozwhip

Disclaimer. This is not financial advice.

What are your goals? and what is your goal with the money? I know it sounds obvious, but the second part of that question is how does that play with the rest of your finances?

RRSP's are one part of a bigger jigsaw.
Ideally you want to sit down with someone who can look at your entire financial profile. Then work out a plan to maximize it. Merge your RRSP's into one if that is possible. Its also based on your risk profile. If you are not happy with 2k going down. Then it would be to move to something less risky or spread your risk.

To move your RRSP's are straight forward. They just have to go into a similar instrument RRSP to RRSP. LIRA to LIRA.
Set one up at a different institution and move them over.

Before you do that. Your investment strategy will generally fall under three areas.

1. Financial Advisor at the bank (note investment advisors at the bank are not quite the same). They can advise and you put your money through a Mutual Funds through a bank, or ETF through Wealthsimple. (Stay away from World Financial Group. Period)
2. Self Directed Brokerage (ETF, Mutual Funds, stocks, GICS etc). You do the transactions yourself. Each transaction is like $10 to buy/sell etc
3. Financial Planner (higher net worth). They do it all for you.

You can set up a account, fill out the transfer forms and move the money. Thats it.
But as I wrote. You have to figure out a plan.

As others have posted. If you are not sure, do a set and forget. Purchase a index ETF like S&P 500 and forget about it. As you get closer to retirement, move the money to Bonds or GICs. BUT without knowing the rest of you financial profile. Its best to have that looked at by a qualified professional to how it fits with everything else.

Think of it like a raft, tug boat, yacht, ship, or a cruise liner. As you sail, you might have containers. Some may have multiple RRSP containers, TFSA etc or just one or two. If you hit a storm or a giant squid and the vessel you are in will become unbalanced. You will take on water and your journey towards the land of retirement will become harder.
So thats why its important to understand the other containers to ensure your vessel is balanced when thigs get moved around. Thats why a prudent person can't just give blanket advice.

[suntan]

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Who tf is giving you margin in a registered account??

Just HELOC that shit.

[bjstare]

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1. Financial Advisor at the bank (note investment advisors at the bank are not quite the same). They can advise and you put your money through a Mutual Funds through a bank, or ETF through Wealthsimple. (Stay away from World Financial Group. Period)
2. Self Directed Brokerage (ETF, Mutual Funds, stocks, GICS etc). You do the transactions yourself. Each transaction is like $10 to buy/sell etc
3. Financial Planner (higher net worth). They do it all for you.

Whatever you do, don't do #1. They will advise you to put your money in whatever product gives them the best kickback (or whatever their boss is telling them to push that week). You'd be better off hiding your money under your mattress.

[suntan]

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Whatever etf has <20% canadian exposure. I actually started a questwealth account to see if I can beat it this year.

VXC is ex-Canada.

[msommers]

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Whatever you do, don't do #1. They will advise you to put your money in whatever product gives them the best kickback (or whatever their boss is telling them to push that week). You'd be better off hiding your money under your mattress.

Exactly.

And depending on the specific fund, for example I buy VGRO in QT, buying/selling through QT the trading fees are super low. It's not the typical stock pricing with a minimum $4.99.

I auto-deposit and purchase stock on a weekly/bi-weekly basis in my RRSP and so the trade amounts aren't huge. I have $200 randomly sitting in cash right now and to buy 5 shares of VGRO costs me $0.02 in fees, which is why I don't care about any minimum costs.

Conversely if you want to buy penny stocks, you get ripped apart on fees (.VN/.CN)

[89coupe]

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Or just forget about the rest of the world and just go VFV
American exceptionalism fk ya! Lol

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What are you currently invested in? How’s that 7.2 going

Our current portfolio is quite diverse now, moved to a wealth management company.
Current projections are looking at $11.3M before funds start to decline.

[max_boost]

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Our current portfolio is quite diverse now, moved to a wealth management company.
Current projections are looking at $11.3M before funds start to decline.

Nice nice 89coupe in the private wealth mgmt side of things
11.3 is the new number fellas

[suntan]

Gonna end up at around 4mm.

Probably going to retire early as a result. I don't need that amount of money.

[max_boost]

Last time 89coupe was 7.2 I was .72, now he’s 11.3, I’m kinda keeping up at 1.13 lol, hope this girl doesn’t take a chunk out of me and set me back

[03ozwhip]

Thanks for the replies guys, a good start to look into. I got a PM from a guy named gripz that says he's an advisor too, unsure if anyone knows him. I remember seeing his name.

[ExtraSlow]

Seems like you have two issues.
1) Where your money is held
2) what you invest in.

They aren't the same thing.

[CompletelyNumb]

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Last time 89coupe was 7.2 I was .72, now he’s 11.3, I’m kinda keeping up at 1.13 lol, hope this girl doesn’t take a chunk out of me and set me back

Reddit would downvote you for humble bragging but I support you and will still tip for ginger beef.

Also, she will take half of it. gg

[suntan]

Just half?

[max_boost]

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Reddit would downvote you for humble bragging but I support you and will still tip for ginger beef.

Also, she will take half of it. gg

We need mega thread how to hide finances from partner !

[suntan]

Ask Leo, but you can only post if you post nude of your partner.

[dirtsniffer]

1. Have your mother start a restaurant supply and cleaning store
2. Hire that company to provide cleaning and materials.
3. Hide a bunch of money in there.

[CompletelyNumb]

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1. Have your mother start a restaurant supply and cleaning store
2. Hire that company to provide cleaning and materials.
3. Hide a bunch of money in there.

The grocery store method. Own your supply chain. Profit little on the public facing business.

[msommers]

$1,000 to clean the bathroom. Every day.

Gud deal.