In Praise Of TFSA's

[cc]

Are you an accountant seoul?



Apropos or what for me!! Funny this thread came up now. I've been looking into them to place a chunk .. doing a great deal of research the past week.



I understand one can go back to the starting date retroactively = 30 some odd grand?



That will take a lot of it and the balance may see some stock market fun  ..... putting 5500 of that into TFSA each year



Say - are they strictly personal or can one make it "joint"?  - motive being to make readily accessible to both mates should one meet with misfortune. This could even be a "breaker" point .. we will see



I do not have one yet, but while managing Mom's money the past few years, I did see the TFSA do quite well ... tried a few different investment types so got a bit of practice and a view of the corresponding results to go on.



I have an appointment with a TD ace tomorrow about it all so don't sweat it if you don't know the answers to above



This thread supports what I felt but it also added a cpl of points to my "ask the pro" list.

If anyone has any further questions, get to me before my 1.00 pm appointment tomorrow and I'll add it to my long list, ask it  and then post what I'm told

[reel]

Ask yourself a question CC:  will the nice "pro" at the bank find it easier to make money from the market or to make money from you?



When she suggests a TD mutual fund, get up and walk out.  She is wasting your time.  DO NOT buy a mutual fund!  In your TFSA, buy an aggressive ETF or maybe an REIT.

[reel]

Try this site to learn:

http://canadiancouchpotato.com">http://canadiancouchpotato.com

[Green_Hornet]

Ask yourself a question CC:  will the nice "pro" at the bank find it easier to make money from the market or to make money from you?

You also forgot when you might need access to the money.  You should go a little more aggressive and take more risk if you have lot of time to invest your money and be prepared to go to the dips in the market.  If you have a short time frame, you should reduce your risk and be more conservative with your money like investing in low interest rate and almost no risk GICs.



From the last Big Bang Theory Episode:

Leonard: Hang on, if you're making all this money, where is it?

Penny: In a safe place.

Leonard: What does that mean, under your bed?

Penny: No, it means a diversified portfolio of stocks and bonds. I'm not overly conservative. I'm young, so my guy said I can afford to take some risks.

Leonard: Wait a minute, you have "a guy"?

Penny: Don't you have a guy?

Leonard: Why would I have a guy?! I don't have any money!



If you have a long time frame, how you should you invest? You will have to go through dips in the market, but rebalance all your funds regularly but keep on investing.  It is best to buy diverse index funds along in your investment mix.  They just follow the market and have much lower administration fees.  Do not buy anything with high administration fees.  Those managed funds never beat the market according to research.

Check out when Warren Buffett using an lower cost index fund against the hedge fund manager with a million dollar bet for charity.

The Guy Who Made a $1 Million Bet Against Warren Buffett

Feb. 27, 2015

Even if hedge funds were winning—which they aren't—you still should be in indexes.



Warren Buffett bet a prominent U.S. hedge fund manager in 2008 that an S&P 500 index fund would beat a portfolio of hedge funds over the next ten years. How's it going?

"We're doing quite poorly, as it turns out," president of Protege Partners Ted Seides, who made the bet with Buffett, told Marketplace Morning Report today. In fact, an S&P 500 fund run by Vanguard rose more than 63%, while the other side of the wager, a portfolio of funds that only invest in hedge funds, has only returned 20% after fees.



Now here's the thing: Seven years ago, Seides' chances of winning this bet actually weren't so terrible. Cheap index funds have a strong statistical edge over active managers, but that doesn't mean every stock picker loses. Last December, S&P Dow Jones Indices published "The Persistence Scorecard," which measures whether outperforming fund managers in one year can continue to outperform the market going forward. "Out of 681 funds that were in the top quartile as of September 2012, only 9.8% managed to stay in the top quartile at the end of September 2014," according to the report. While that's not a terribly good record, about 10% of portfolio managers (and their shareholders) think that they are clever investors.



The trouble is, they probably won't be in the top 10% of investors over the next ten years. There will always be market beaters, even if just by random (and unfortunately unpredictable) chance. That fact goes a long way towards keeping money managers in business.



http://time.com/money/3725955/warren-buffett-bet-hedge-funds/">http://time.com/money/3725955/warren-bu ... dge-funds/">http://time.com/money/3725955/warren-buffett-bet-hedge-funds/



I would not try cc la tarte's previous investment strategy.  Her idiotic strategy is to buy high and sell low.  When the market dips, she sells everything without investing in bargains in the stock market.

[cc]

"buy high and sell low"  ... "You also forgot when you might need access to the money"



 It is racist if not sinophobic to make such  crap & drool accusations



Does your uncle still clean washrooms for NASA?

[cc]

Ask yourself a question CC:  will the nice "pro" at the bank find it easier to make money from the market or to make money from you?



When she suggests a TD mutual fund, get up and walk out.   She is wasting your time.  DO NOT buy a mutual fund!  In your TFSA, buy an aggressive ETF or maybe an REIT.

Agreed. No advisor is neutral and working in your interest. That said, getting perspectives from several  others and forcing them to support their ideas is never a bad thing and it has always been my style to do so for anything important .. and especially when the specific vehicle itself is new to one.



Going in one knows they will get good ideas and bad ideas. We are given the ability to question and sort out of it all what is beneficial to ones own self ...  I agree with  "aggressives" with common sense applied



Will make no decisions until after meetings with broker also and lots of net searches ... I will have to keep my love of playing with stocks in check / reasonable also

[Anonymous]

"buy high and sell low"  ... "You also forgot when you might need access to the money"



 It is racist if not sinophobic to make such  crap & drool accusations



Does your uncle still clean washrooms for NASA?

Horny is fucking idiot and it shows even when he tries to be serious. Though I do admit, the janitor uncle at NASA is a nice touch.

[Anonymous]

Ask yourself a question CC:  will the nice "pro" at the bank find it easier to make money from the market or to make money from you?



When she suggests a TD mutual fund, get up and walk out.  She is wasting your time.  DO NOT buy a mutual fund!  In your TFSA, buy an aggressive ETF or maybe an REIT.

Careful there reel. That's how my Mommy makes money. ac_beating

[cc]

Are you referring to mutuals? A couple that I had my Mom in did do quite well for a year or two  .. One was in fact TD and it did really well about 3 years ago

I'm pretty sure they were in her TFSA account . will have to check her records to be certain

I was deliberately "somewhat safe" with most of her stuff as her sleeping nights was more important than a few more bucks. Managing some one else's money comes with responsibilities

I still enjoy picking stocks though . and have to keep myself in check

[Anonymous]

Are you referring to mutuals? A couple that I had my Mom in did do quite well for a year or two  .. One was in fact TD and it did really well about 3 years ago

I'm pretty sure they were in her TFSA account . will have to check her records to be certain

No, my Mommy is an investment specialist and as such she deals with mutual funds all the time. It's not quite as black and white as reel would have you believe. If you like I can ask my Mommy any questions you may have and I can relay the answers back to you.

[cc]

In the process of investigating all possibilities now. Today's meeting is just one of 3 or 4. Might take you up on it once I get it down to a couple and close to decision time

[Anonymous]

In the process of investigating all possibilities now. Might take you up on it once I get close to decision time

Yep, just let me know when you are ready CC. I can assure you, no fees will be involved. Well, other than my impeccable translation services of course. ac_gumpop

[cc]

Yes. Hard work must be rewarded  ac_smile

[Anonymous]

Are you referring to mutuals? A couple that I had my Mom in did do quite well for a year or two  .. One was in fact TD and it did really well about 3 years ago

I'm pretty sure they were in her TFSA account . will have to check her records to be certain

I was deliberately "somewhat safe" with most of her stuff as her sleeping nights was more important than a few more bucks. Managing some one else's money comes with responsibilities

I still enjoy picking stocks though . and have to keep myself in check

My husband's RRSP's and our TFSA's are in mutual funds..

 ac_huh

[Green_Hornet]

Are you referring to mutuals? A couple that I had my Mom in did do quite well for a year or two  .. One was in fact TD and it did really well about 3 years ago

I'm pretty sure they were in her TFSA account . will have to check her records to be certain

I was deliberately "somewhat safe" with most of her stuff as her sleeping nights was more important than a few more bucks. Managing some one else's money comes with responsibilities

I still enjoy picking stocks though . and have to keep myself in check

My husband's RRSP's and our TFSA's are in mutual funds..

 ac_huh

You should do a  visit of your portfolio every 3 months with a financial advisor.

You should check the MER (Management Expense Ratio) and the performance of each mutual funds.  If the MER is too high and the performance of the mutual fund is terrible you should drop that mutual fund and buy something else.

You shoud consider buyng the index funds or the low-cost exchange-traded funds (ETFs) after selling those terrible performing mutual funds in your rebalancing of your portfolio.  They always do better than the managed funds.



Actively managed funds vs. the index: once again, no contest

Recent data show the vast majority of Canadian-based U.S. equity funds falling short of broad stock indexes, adding to evidence that Canadian investors should seek U.S. exposure through index funds or low-cost exchange-traded funds (ETFs).

Actively managed funds typically carry premium fees, presumably for the possibility of generating superior returns. In reality, however, research has generally shown active management to underperform the broader market, after accounting for fees.

http://www.theglobeandmail.com/globe-investor/investment-ideas/actively-managed-funds-vs-the-index-once-again-no-contest/article21580578/">http://www.theglobeandmail.com/globe-in ... e21580578/">http://www.theglobeandmail.com/globe-investor/investment-ideas/actively-managed-funds-vs-the-index-once-again-no-contest/article21580578/



Yeah right cc la tarte, and why would anyone clean the toilet on the hush hush unmanned spy space shuttle?  A toilet does not exist on the hush hush unmanned spy space shuttle.  Pretty stupid and dumb comment from you cc la tarte.

From last week's 60 minutes:

One secret project is hiding in plain sight. It's the X-37B space plane, a small, remotely-piloted vehicle that can fly in space for 20 months at a time.

A model of it hangs in Hyten's headquarters in Colorado.

David Martin: So here is your chance to end all the speculation about what the Space Plane is really for.

Gen. John Hyten: It's really for cool things.

David Martin: For instance?

Gen. John Hyten: For instance, it goes up to space-- but unlike other satellites, it actually comes back. Anything that we put in the payload bay that we take up to space we can now bring back. And we can learn from that.

The US Secret Spaceplane X-37B Is Actually Testing A New Form Of Propulsion

28/04/2015

http://www.huffingtonpost.co.uk/2015/04/28/the-us-militarys-secret-space-plane-is-actually-testing-a-new-form-of-propulsion_n_7158924.html">http://www.huffingtonpost.co.uk/2015/04 ... 58924.html">http://www.huffingtonpost.co.uk/2015/04/28/the-us-militarys-secret-space-plane-is-actually-testing-a-new-form-of-propulsion_n_7158924.html