So, how are your investments doing?
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Location: Western Hemisphere
Posted on: 16-12-09 14:44:44
In regards to TFSA, I am not happy with the funds left in the institution I am with right now. Can I open a new account at another location and move the current funds into the future location (like a rollover)?
Or is my only option is to withdraw now, wait for the next year (new contributory period) and invest at the new location?
Thanks.
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Dimple2001
Quote:You can do a TFSA-to-TFSA transfer, just like an RRSP-to-RRSP transfer.
Originally posted by dimple2001
In regards to TFSA, I am not happy with the funds left in the institution I am with right now. Can I open a new account at another location and move the current funds into the future location (like a rollover)?
Or is my only option is to withdraw now, wait for the next year (new contributory period) and invest at the new location?
The transfer can be in cash or in kind, depending on what you hold.
Most likely, there'll be a transfer out fee charged by the relinquishing institution, usually between $25 - $50 but some full service brokerages may charge upto $100.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Location: Western Hemisphere
Posted on: 16-12-09 15:10:01
Quote:
Originally posted by pratickm
Quote:You can do a TFSA-to-TFSA transfer, just like an RRSP-to-RRSP transfer.
Originally posted by dimple2001
In regards to TFSA, I am not happy with the funds left in the institution I am with right now. Can I open a new account at another location and move the current funds into the future location (like a rollover)?
Or is my only option is to withdraw now, wait for the next year (new contributory period) and invest at the new location?
The transfer can be in cash or in kind, depending on what you hold.
Most likely, there'll be a transfer out fee charged by the relinquishing institution, usually between $25 - $50 but some full service brokerages may charge upto $100.
Thanks patrickm. I assume the receiving firm would have the necessary forms for the transfer.
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Dimple2001
Quote:Yes, they should.
Originally posted by dimple2001
Thanks patrickm. I assume the receiving firm would have the necessary forms for the transfer.
In most cases, it's the same or very similar form as the RRSP transfer.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Location: Western Hemisphere
Posted on: 16-12-09 16:49:53
Quote:
Originally posted by pratickm
Quote:Yes, they should.
Originally posted by dimple2001
Thanks patrickm. I assume the receiving firm would have the necessary forms for the transfer.
In most cases, it's the same or very similar form as the RRSP transfer.
Thanks again.
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Dimple2001
Location: Western Hemisphere
Posted on: 17-12-09 15:49:30
Quote:
Originally posted by pratickm
Yeah, these days a 10% annualized return can be considered awesome.
Quote:So that formula is assuming that B and C were done on 1st Jan.
Out of pocket money invested $B, re-invested earnings - $C, Market Value - $A
(A -(B+C) ) / (B+C). I would call it return on cost basis. Right now, this return is negative 1%.
To get the true annualized return, you need to factor in the date of investment.
To get the value on calculation date, you have to do:
=Amount of contribution or distribution * (1+Rate of Return)^(Number of Days from Investment till today / 365)
Ok, I actually discovered Quicken does calculate the annualized return (using the IRR concept).
Based on that, the annualized returns on investments I have had for several years are in the range of 3.5% to 6%.
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Dimple2001
Quote:Cool, that's not bad at all esp. if it's for a period of 5 years or more.
Originally posted by dimple2001
Based on that, the annualized returns on investments I have had for several years are in the range of 3.5% to 6%.
A lot of self stock pickers do much worse.
But it also goes to show how passive investing often beats active investing.
Most broad based equity ETFs and low cost index funds have returns in the 5% to 7% range for periods of 10 years or more.
The TSX 60 ETF (XIU) for example has a return of 7.26% for a period of over 10 years.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
