2017 Saving and Investment Thread

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Re: 2017 Saving and Investment Thread

Postby Catsumi » Feb 28th, 2018, 5:22 pm

Knock, knock.

Gosh, sure got quiet in here.

With our Hair-Sox, world wandering PM's new budget dangling like a sword over our necks, doesn't anyone have some buy/sell advice for us peasants?

:biggrin:
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Re: 2017 Saving and Investment Thread

Postby forum » Mar 4th, 2018, 6:24 pm

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Re: 2017 Saving and Investment Thread

Postby Veovis » Mar 5th, 2018, 9:59 am



He says himself that he isn't adverse to high volatility. He's happy with the gamble trade, and he's making news from doing it which is simply his gimmick for some free press/advertising.

Somehow you call realtors sleazy but admire the same greasy plays from others. Cute.

In reality he's making a trade in his mind of one investment for another. He isn't selling his home, he is trading one asset for a different asset, his choice, but that is an ad, not a news article.

You yourself only look at homes as an investment, not a home, it's that view and the inability to personally comprehend one as a home why you cannot understand everyone else in these threads.....it's just stocks in your mind, not houses and homes.
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Re: 2017 Saving and Investment Thread

Postby ninetyninepct » Mar 12th, 2018, 10:03 am

Even Steven wrote:Can somebody tell the rule of thumb for deciding what to invest first - RRSP or TFSA. Both me and my wife have a lot of room in both. We also have a sizeable pile of cash we'd like to invest. We can fully top off RRSP or TFSA but not both. My logic is that first we should cover RRSP side of things which will produce sizeable tax refunds this year and few next years also. And we can toss them into TFSA I guess.

Does it make sense?


RRSP's reduce your taxes at higher rates and you can then use RRIF's to take out that money at a lower income tax rate.

I am not a salesman ( sales person ? :) ), but strongly suggest you take a close look at the Saskatchewan Pension Plan. Anyone can join, they have a great performance history and their management expenses are minimal. They are non-profit, unlike Banks who pay themselves with your money first. I am getting over 8% with their RRSP's .
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Re: 2017 Saving and Investment Thread

Postby Snowbound » Mar 12th, 2018, 11:48 am

I've always bought into the RRSP first, then dump the refund into your TFSA or onto your mortgage.

I'll have to check out the Saskatchewan deal. Thanks for that.
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Re: 2017 Saving and Investment Thread

Postby Ka-El » Mar 12th, 2018, 12:52 pm

ninetyninepct wrote:
Even Steven wrote:Can somebody tell the rule of thumb for deciding what to invest first - RRSP or TFSA. Both me and my wife have a lot of room in both. We also have a sizeable pile of cash we'd like to invest. We can fully top off RRSP or TFSA but not both. My logic is that first we should cover RRSP side of things which will produce sizeable tax refunds this year and few next years also. And we can toss them into TFSA I guess. Does it make sense?

Seems to make sense. As noted, the main purpose of a RRSP (when comparing it with a TFSA) is to defer income tax for when you will presumably be required to pay less tax. The advantage of a TFSA is that money can grow tax-free, and can be withdrawn tax free. You will pay tax on the money you invest/save in a registered plan, but only when you withdraw it.
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Re: 2017 Saving and Investment Thread

Postby Veovis » Mar 13th, 2018, 8:01 pm

Calculate current tax savings with future income and a long term retirement plan. Where is the greatest benefit, this will determine if the TFSA or RRSP is the better route. Depends on your tax rates throughout.
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Re: 2017 Saving and Investment Thread

Postby Queen K » Mar 15th, 2018, 4:59 am

Hassel99 wrote:https://www.reddit.com/r/CryptoCurrency/comments/7nmobv/reddits_altcoin_logic_summed_up_perfectly/

This is hilarious and basically sums up the current cowboy climate.

I am in with some pocket change for LOL's but omg reading about ppl pulling out $50k loans to pump into random coins with basically a 3 page whitepaper that sounds neato.



https://www.msn.com/en-ca/money/markets ... li=AAgh0dA

Those $50k loan people may or may not do well in the end, I know I couldn't wake up to this.

A number of factors have weighed on the price of cryptocurrencies.

The first major one was selling by the trustees of collapsed Japanese cryptocurrency exchange Mt.Gox. It closed in 2014 and filed for bankruptcy after losing around 850,000 bitcoins. Its founder Mark Karpeles, recently pleaded not guilty to charges of embezzlement.

A trustee of the now-defunct exchange has been selling large amounts of bitcoin that the exchange still had to pay back creditors. This has been hitting the price of bitcoin.

Meanwhile, AlphabetGOOGL-owned Google, the world's largest digital advertiser, announced it was banning cryptocurrency-related advertising, including initial coin offerings (ICOs), wallets and trading advice.

"The sell-off was triggered by a number of factors, notably, weariness over increased regulatory scrutiny of ICOs, the Mt.Gox bitcoin dump and what seems to be some heavily liquid traders pushing for future buy-back opportunities," Thomas Glucksmann, head of APAC business development at cryptocurrency exchange Gatecoin, told CNBC by email on Thursday.

"These bear signals have subsequently spooked many new crypto investors who are now looking to cut their loses."

At the same time, there has been continued instances of scams in the initial coin offering (ICO) market. Earlier this week, CNBC reported on how scammers made off with over $2 million in cryptocurrency after carrying out an apparent fake ICO.

An initial coin offering or ICO is a way for start-ups to crowd-fund investment. Instead of raising cash from venture capitalists, a company can hold an ICO, which allows people to invest a cryptocurrency, such as ethereum or bitcoin, in exchange for a new token that's issued by the start-up. The new digital coin is not equity. Instead, it can be used in exchange for future services offered by the company. It's also possible that the new coin may climb to a much higher value than the initial investment.

Regulatory crackdown
Regulators globally have been taking a tougher stance on the sector as well. The U.S. Commodity Futures Trading Commission (CFTC) subpoenaed cryptocurrency exchange Bitfinex, and Tether, a digital coin company at the end of last year.
Could it be that a whole life can shift the day one starts telling the truth about what makes one happy?
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Re: 2017 Saving and Investment Thread

Postby normaM » Mar 15th, 2018, 7:31 am

Although I have one not a huge fan of RRSPs.. plus at some point Govt will start taxing them or use it against you as a Means test re CPP, OAS, etc.
At least you can do what you want with the monies in a TFSA as it isn't locked in. RIFs can impact on your tax bracket.
Bsides with RRSPs at some point you have to pay the tax on it, I'd rather take the tax hit while still employed.
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Re: 2017 Saving and Investment Thread

Postby Veovis » Mar 15th, 2018, 10:44 am

normaM wrote:Although I have one not a huge fan of RRSPs.. plus at some point Govt will start taxing them or use it against you as a Means test re CPP, OAS, etc.
At least you can do what you want with the monies in a TFSA as it isn't locked in. RIFs can impact on your tax bracket.
Bsides with RRSPs at some point you have to pay the tax on it, I'd rather take the tax hit while still employed.


Having a professional that knows how to balance and set it all up in the right balances BEFORE you are 40 to actually plan it out long term they can keep you from paying much if any taxes, while saving a lot in taxes now, however you also want TFSA so when CPP and OAS kick in you can take less RRSP and more TFSA to negate any tax hits etc etc etc.

It also depends on your tax brackets now and what you want for $$ later. Saving 20% not to pay 20% later is 100% pointless as you will pay tax on all the gains. Saving 35-40% now to pay 10% later can put a lot more in your hands now that you then put into your TFSA.

My wife and I are pretty good at mathing all of that out, but we still have regular meetings to ensure things are on track from a proper professional.

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Re: 2017 Saving and Investment Thread

Postby Catsumi » Mar 15th, 2018, 11:08 am

Good afternoon Forum.

Idle curiosity on my part, but wonder how crypto issues lately have affected you personally. Did you get out or are you still hanging on?

Catsumi :biggrin:

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Re: 2017 Saving and Investment Thread

Postby Bpeep » Mar 16th, 2018, 10:59 am

Catsumi wrote:Good afternoon Forum.
Did you get out or are you still hanging on?


Lol. Neither.
I have a baseball for you. You're more than welcome to rent it.

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Re: 2017 Saving and Investment Thread

Postby forum » Mar 28th, 2018, 8:23 pm

I clearly explained what I was doing, so what's to know?

Put a bunch of money in, rode it white knuckled.
Rode it high, took profits, left the initial investment in the ring.
That's the cowboy way.

Still have skin in the game. Waiting for the next bull run.

Went shopping for another luxury vehicle. Blame the wealth effect I guess. But unlike a HELOC, the money is actually real and can be spent without a debt incurred.

Shopping for luxury vehicles in Kelowna is a bit tedious. I like putting on my suit when big money is involved. It fits nice, wifey gets a little randy, and the people I converse with tend to exfoliate their pompous ego and express more of a servant type of behaviour towards me.

But this time, I thought I'd kick the turd and try some of my fans strategies. So I ditched the suit and cologne and went shopping in my man hugging dirty denim jeans, white T and denim jacket. Full scruff, the smell of whiskey, stetson, and fresh cut hay. Sure takes a while for some of the Kelowna Salesmen to hand over the test-drive keys to a dirty denim turd kicker such as myself. It seems they aren't hungry for a sale. Maybe they need a full recession to get them motivated.

I surprised the dealerships finance guy a bit. I declined monthly financing and just bought it outright. What's interesting is he never tried to up-sell me on the undercoating and frivolous crap that they always do. I guess he knows a straight shooter when he sees one. Now that I think about it, I reckon that's why he got the sale.

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Re: 2017 Saving and Investment Thread

Postby Catsumi » Mar 29th, 2018, 7:08 am

Forum, I see you like to dress up (or down) and play mind games with sales staff. Fascinating. Did you haggle and gaggle the price downwards seeing how you were paying cash (or bitcoins)?


I think Norma and QK were looking for help purchasing glossy, eye catching new wheels. You might want to offer your assistance. Women normally get ripped by salesmen.

That would make for more tales from the dark side of tire kicking.

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Re: 2017 Saving and Investment Thread

Postby Hassel99 » Mar 29th, 2018, 7:50 am

forum wrote:
I surprised the dealerships finance guy a bit. I declined monthly financing and just bought it outright. What's interesting is he never tried to up-sell me on the undercoating and frivolous crap that they always do. I guess he knows a straight shooter when he sees one. Now that I think about it, I reckon that's why he got the sale.



Tell me more about how the finance guy "got the sale" after you agreed to buy the vehicle for the price the sales manager provided.

Oh wait, Fictional vehicle, Fictional wife, Fictional children. Fictional cowboy with no horse or house.

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