Recommendations for investing

[DmanTRT2025]

This is all some great advice guys

Probably more than @Taureau anticipated.

If @Taureau already has a trusted financial advisor then they can setup a lot of this stuff really easy.

A side note for RESP’s: if they don’t get used to go to an approved post secondary education provider and get converted to a different investment such as a TFSA, then the Government claws back what they contributed plus they dictate the growth rate on what they contributed, plus then tax would be paid on the remaining growth from your contributions. *To my current knowledge…..

They are still great investments so I don’t mean to discourage anyone from using them because it is a model that works well and can be transferred to other siblings.

I didn’t like those parameters and setup ITF’s instead. There are nuances to that as well but overall a more useable model (IMHO), especially if the education route doesn’t work out.

 

[3ml]

I say fuck the RESP bullshit. Too many rules.

In my opinion if you have contribution room in your own TFSA then open an account in your name with the intention it goes to your grandson.

If I was to make it real real simple it would go something like this

40% VOO
40 % SCHD
10 % VXUS
5 % SGOV
5 % CBIL

If you open a questrade account you can get custom indexing. Since 200 bucks is not enough to buy whole shares this will make up fractional shares for you.

As far as gold and silver. I own it, sold some on the big rally.
One thing to keep in mind it isnt as liquid as some think.
When prices were at the top some dealers did not want to buy or would only buy with a steep discount. However I do like to keep some for the end of the world scenario

 

[DmanTRT2025]

I say fuck the RESP bullshit. Too many rules.

In my opinion if you have contribution room in your own TFSA then open an account in your name with the intention it goes to your grandson.

If I was to make it real real simple it would go something like this

40% VOO
40 % SCHD
10 % VXUS
5 % SGOV
5 % CBIL

If you open a questrade account you can get custom indexing. Since 200 bucks is not enough to buy whole shares this will make up fractional shares for you.

As far as gold and silver. I own it, sold some on the big rally.
One thing to keep in mind it isnt as liquid as some think.
When prices were at the top some dealers did not want to buy or would only buy with a steep discount. However I do like to keep some for the end of the world scenario

Nothing wrong with a second TFSA account.
If fact, probably the easiest route.