Want to build a $1 million TFSA? I’ve created a free guide to show you the five exact steps to get there. Download your free copy here: blueprintfinancial.ca/1-million-tfsa-blueprint-download/
VOO is the same as VFV, but it's in U.S$. VFV is in CND$, but the fee is much higher something like. .09% and VOO is only .03% if I'm not mistaken for exactly the same ETF. Mutual funds were things of the past.
You still get some withholding with things like VFV as well, it’s just buried inside. What I’ve done is focus in on ones that are lower dividend when possible for the TFSA. Even some US based equivalents have been good for me as the exchange rate has been favourable, at least for the time being.
Yes, I agree with this, and will mention it in an upcoming video about how to save on taxes while investing. It goes over account selection to minimize taxes and touches on this subject in more depth!
Everything you're talking about as far as fee's led me to stop investing into TD Mutual Funds. I invested 18k over 3 years and my portfolio went up 2500$. When I asked a "Financial Advisor" about how much money they made for losing me 15.5K, that person just sat on the other side of the desk and said it's a long term play. Didn't answer my question at all. Led me to invest in my future myself. Been killing it ever since.
I love comments like these, I'm always very happy when I hear about someone getting something useful out of my content! Yeah if they lost 18K over the last 3 years that's pretty bad. The market has been quite strong.
I ran a pension fund for many years so I know a bit about management of money … good video . . Bravo … the real secret of investing is diversification time and compound interest. I am dubious of the value of advisors, especially for small investors. If you don’t know anything about investing… learn.
Financial advisor are just people. Some are smart, some are stupid. No different than Service advisors at a car dealer. Getting help is important but if you get stupid help, it's useless. On top of everything else they try to sell you.
Yes that is very true! It's like finding a good and honest mechanic. That's why at Blueprint we focus on fee-for service planning, it eliminates this conflict of interest.
When are these banks mutual funds fees withdrawn and where do we see this on the statement - I don't see it - I asked my bank they stated they don't charge these fees however it is indicated on the prospectus but I do not see it on the quarterly statements etc.
The mutual fund manager gets fees as does the financial advisor that recommended the products if you have one. Sometimes it can add up to as much as 8 percent when the two are together. The manager has a conflict of interest as it's in his best interest to recommend products that will funnel larger fees into his pockets. Once you subscribe to the mutual fund he has nothing left to do but you can often be paying him for years and you don't know because you don't receive a statement describing how much you're paying him. Everyone, it seems is making money except the investor whose money it is.
Great question, in Canada, mutual fund fees like MERs are built into the fund’s performance, so you won’t see them listed on your statement. They’re just quietly deducted before you get your returns, which is why I call it a Silent Wealth Killer!
@@Blueprint.Financial - it's indeed a very sly way to get those fees, cause they know when people find out and make comparisons elsewhere they would likely transfer their investments from banks to 3rd party popular brokers which is now the trend in this generation indeed, knowing the bank fees are much ridiculously higher.
You can buy US stocks trading in Canadian dollars on the CBOE exchange without paying US withholding tax on dividends. They are called American deposit receipts ADRs. These shares can be held in a TFSA.
Interesting, thanks I didn't know about this, but the average investor would probably not want to overcomplicate their holdings and just hold it in their RRSP instead for simplicity.
You won’t even keep up with inflation with GICs, a TFSA is a wonderful vehicle for building wealth over the long term, mine is all stock 40/60 Canada/US and over the last 16 years my annual rate of return has been 12.7% with very modest volatility. I am no genius stock picker, the key is to max out every year with quality stocks and stay the course by ignoring temporary setbacks. It’s not rocket science but the most important characteristic an investor must have is an even temperament.
GIC is safe and worry free, but what is your inflammation is 2-3% and the interest is 100% income, then you are breaking even. GIC only makes sense if you get 7% and up. I never invest in GIC in my life. I bought BRK.B and SP500 index ETF and it gave me 15% each year or more. I just bought it and went did my regular things.
Yes that is a big red flag, especially if they collect an asset management fee on on top of that. It's why we focus on fee-for service planning here at Blueprint, so it eliminates that conflict of interest.
I think you didn’t emphasize enough how dangerous is to invest in risky assets. Once you sell something that has tanked, you didn’t just lose your money but also the contribution room in your tfsa.. ouchies
Diversification is a myth; most growth and value stocks are highly correlated. Furthermore, the S&P500 is also highly concentrated. 60/40 Portfolio is also a BS, as bonds fall together with stocks when interest rates are not cut or increased. Dollar-cost averaging is okay if you have unlimited contribution room. The first rule of money is that no single strategy fits all investors! Every person has a different tolerance to risk, different rationale for being on the market and different growth targets. I'm on the market for sustained growth with some ocasianal risky opportunity taking. On the other hand, my RESP account is more conservative and way more long term.
5:55 Ojalá fuera un banquero de inversiones🤑 e hiciera mucho dinero para que CRA💸 se baje de la espalda... Para la mejor financiación financiera e inversión tienes #TDBank💳... 🌎💘💰
Want to build a $1 million TFSA? I’ve created a free guide to show you the five exact steps to get there. Download your free copy here:
blueprintfinancial.ca/1-million-tfsa-blueprint-download/
VOO is the same as VFV, but it's in U.S$.
VFV is in CND$, but the fee is much higher something like. .09% and VOO is only .03% if I'm not mistaken for exactly the same ETF.
Mutual funds were things of the past.
You still get some withholding with things like VFV as well, it’s just buried inside. What I’ve done is focus in on ones that are lower dividend when possible for the TFSA. Even some US based equivalents have been good for me as the exchange rate has been favourable, at least for the time being.
Yes, I agree with this, and will mention it in an upcoming video about how to save on taxes while investing. It goes over account selection to minimize taxes and touches on this subject in more depth!
Everything you're talking about as far as fee's led me to stop investing into TD Mutual Funds. I invested 18k over 3 years and my portfolio went up 2500$. When I asked a "Financial Advisor" about how much money they made for losing me 15.5K, that person just sat on the other side of the desk and said it's a long term play. Didn't answer my question at all. Led me to invest in my future myself. Been killing it ever since.
I love comments like these, I'm always very happy when I hear about someone getting something useful out of my content! Yeah if they lost 18K over the last 3 years that's pretty bad. The market has been quite strong.
@@Blueprint.Financial That loss happened between 2019-2022. Started self investing in 2022. Snowballing down the mountainside ever since.
well-thought and informative content ❤
Thank you! 🙂
I ran a pension fund for many years so I know a bit about management of money … good video . . Bravo … the real secret of investing is diversification time and compound interest. I am dubious of the value of advisors, especially for small investors. If you don’t know anything about investing… learn.
Thanks for your kind words! What kind of pension fund did you run?
Financial advisor are just people. Some are smart, some are stupid. No different than Service advisors at a car dealer. Getting help is important but if you get stupid help, it's useless. On top of everything else they try to sell you.
Yes that is very true! It's like finding a good and honest mechanic. That's why at Blueprint we focus on fee-for service planning, it eliminates this conflict of interest.
When are these banks mutual funds fees withdrawn and where do we see this on the statement - I don't see it - I asked my bank they stated they don't charge these fees however it is indicated on the prospectus but I do not see it on the quarterly statements etc.
The mutual fund manager gets fees as does the financial advisor that recommended the products if you have one. Sometimes it can add up to as much as 8 percent when the two are together. The manager has a conflict of interest as it's in his best interest to recommend products that will funnel larger fees into his pockets. Once you subscribe to the mutual fund he has nothing left to do but you can often be paying him for years and you don't know because you don't receive a statement describing how much you're paying him. Everyone, it seems is making money except the investor whose money it is.
Great question, in Canada, mutual fund fees like MERs are built into the fund’s performance, so you won’t see them listed on your statement. They’re just quietly deducted before you get your returns, which is why I call it a Silent Wealth Killer!
@@Blueprint.Financial - it's indeed a very sly way to get those fees, cause they know when people find out and make comparisons elsewhere they would likely transfer their investments from banks to 3rd party popular brokers which is now the trend in this generation indeed, knowing the bank fees are much ridiculously higher.
You can buy US stocks trading in Canadian dollars on the CBOE exchange without paying US withholding tax on dividends. They are called American deposit receipts ADRs. These shares can be held in a TFSA.
Are you talking about purchasing these on NEO?
@@marcelmed4574Yes, NEO is now the CBOE exchange.
Interesting, thanks I didn't know about this, but the average investor would probably not want to overcomplicate their holdings and just hold it in their RRSP instead for simplicity.
@marcelmed4574 NEO now called CBOE.
What would you put your RRSP in right now due to the USA tariff coming in Feb 2025? We have already added the max to the TFSA for the 2025 year
Well, you can always invest in the US market! You're not limited to just Canada. But it really depends on your risk tolerance and goals.
But theres no good tsx stocks.
I just realized cibc charges ridiculous fees for not even matching sp500 . I’m gonna move all my money From them
Check out our investment management services if you want a free teardown of your holdings! blueprintfinancial.ca/investment-management/
You can get 3.7% on a GIC so not actually the worst option.
Yes that's true, for now interest rates are still high. Long term average is about 2-2.5% though.
You won’t even keep up with inflation with GICs, a TFSA is a wonderful vehicle for building wealth over the long term, mine is all stock 40/60 Canada/US and over the last 16 years my annual rate of return has been 12.7% with very modest volatility. I am no genius stock picker, the key is to max out every year with quality stocks and stay the course by ignoring temporary setbacks. It’s not rocket science but the most important characteristic an investor must have is an even temperament.
GIC is safe and worry free, but what is your inflammation is 2-3% and the interest is 100% income, then you are breaking even. GIC only makes sense if you get 7% and up.
I never invest in GIC in my life. I bought BRK.B and SP500 index ETF and it gave me 15% each year or more. I just bought it and went did my regular things.
At 2:12 difference is 28k
Ah, you're right, I missed that one, $28K is still quite a big difference, I think my main point still holds up! Thanks for spotting that.
All is well and good until you get a financial planner that recommends high fee mutual funds
Yes that is a big red flag, especially if they collect an asset management fee on on top of that. It's why we focus on fee-for service planning here at Blueprint, so it eliminates that conflict of interest.
I think you didn’t emphasize enough how dangerous is to invest in risky assets. Once you sell something that has tanked, you didn’t just lose your money but also the contribution room in your tfsa.. ouchies
Diversification is a myth; most growth and value stocks are highly correlated. Furthermore, the S&P500 is also highly concentrated. 60/40 Portfolio is also a BS, as bonds fall together with stocks when interest rates are not cut or increased. Dollar-cost averaging is okay if you have unlimited contribution room. The first rule of money is that no single strategy fits all investors! Every person has a different tolerance to risk, different rationale for being on the market and different growth targets. I'm on the market for sustained growth with some ocasianal risky opportunity taking. On the other hand, my RESP account is more conservative and way more long term.
Shucks, I just put a big chunk into a TD mutual fund.
Which one was it and what is the fees (MER) for it? It's never too late to change.
5:55 Ojalá fuera un banquero de inversiones🤑 e hiciera mucho dinero para que CRA💸 se baje de la espalda... Para la mejor financiación financiera e inversión tienes #TDBank💳... 🌎💘💰