How To Transfer Your RRSP To Wealthsimple
A client asked me to send step-by-step instructions on how to transfer your RRSP to Wealthsimple. He’s moving his $145,000 portfolio from Primerica over to Wealthsimple’s robo-advisor platform to save on fees. My client’s existing “Asset Builder Fund” charges a management expense ratio (MER) of 2.30 percent – costing him $3,335 in fees each year.…
Read MoreWeekend Reading: Low Canadian Dollar Edition
We’re getting ready for our 32-day trip to the Scotland and Ireland this summer and our family could not be more excited about the itinerary we have planned. One thing that does concern me about the trip is the low Canadian dollar. The loonie hit an 11-day low on Friday, sinking to 74.53 cents USD.…
Read MoreMoney Bag: Investing A Lump Sum For Monthly Income, and Best Credit Card For General Spending
Today I’m answering reader mail for a feature I call the Money Bag. I’ll answer questions and address comments from readers on a wide range of money topics, myths, and perceptions about money. No question is off limits, so hit me up in the comments section or send me an email about all the money things you’re…
Read MoreCarGurus vs. Unhaggle: A Hassle Free Car Buying Comparison
Buying a vehicle is likely the second biggest purchase we’ll make in our lives. It’s expensive, a long-term investment, and you rely on it. Most of all, no one wants to overpay or end up with a lemon. Unfortunately, buying a car requires most shoppers to be organized and well-researched. Then you’ll need to spend…
Read MoreWeekend Reading: The Problem With FIRE Edition
The FIRE movement (Financial Independence, Retire Early) has taken the personal finance blogosphere by storm of late, with numerous bloggers chronicling their journey towards financial independence. Several high profile bloggers have even achieved FIRE, gaining wide spread attention from mainstream media and leading to book publishing opportunities. The quest for financial independence certainly isn’t new…
Read MoreWhat Are You Doing With That Tax Refund?
**This is a sponsored post written by me on behalf of Alterna Bank. All opinions are my own. Canadians are usually an optimistic bunch come tax season, with the majority of tax filers expecting to get a refund. In fact, many of us count on a tax refund to pay off debt, cover the cost…
Read MoreSolving The Home Bias In My Portfolio
Canadian investors tend to suffer from home bias – a preference to hold more domestic stocks over foreign equities. This is actually true of investors in most countries, but it’s particularly troubling in Canada where our stock markets are highly concentrated in the financial and energy sectors. The federal government could be partially to blame…
Read MoreWeekend Reading: One-Ticket ETF Edition
In the last five years we’ve seen the rise of robo-advisors offering low cost online portfolio management to investors large and small. Investors pay a management fee of around 0.50 percent plus another 0.20 percent or so for the robo-advisor to hold the underlying ETFs. This is a massive improvement from a traditional mutual fund…
Read MoreHow To Save Money On Everything That Matters
Regular readers will know that I haven’t had a salary increase at my public sector job in five years. Meanwhile our family is growing, with two kids coming up on seven and 10 years old. Stagnant wages plus rising household expenses meant our family was losing purchasing power every year. What’s a personal finance blogger…
Read MoreWeekend Reading: Warren Buffett’s Annual Letter Edition
It never gets old. I’m talking about Warren Buffett’s annual letter to Berkshire Hathaway shareholders. The famous Oracle of Omaha beat the market again, increasing the market value of Berkshire by 2.8 percent versus the 4.4 percent loss suffered by the S&P 500 in 2018. Buffett’s letter always includes a good dose of wisdom and…
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