100% of UA-cam revenues received by the Canadian Portfolio Manager channel have been donated to SickKids Foundation. If this video has helped save you a few dollars on fees or taxes, please consider donating a portion of your savings to SickKids Foundation: www.sickkidsfoundation.com/
Great cause! Especially after our gov short-changed their funding. Is there a script to turn off our ad-blockers for your channel? I just started my CS program...=/
I know parents to share this with when they’re ready. Thank you for helping families who need this. Good info in this format (clear, unbiased, organized and free of sales) are rare now.
Not sure if you will be reading this but thank you so much for this video. As a father of 5 kids, this is a very important topic to me. I'm going for the XEQT/XSB/PSA with maxing the 2500$ for every child at the beginning of each year. Hopefully it will all work out good!
Thanks for covering this topic Justin. I have 3 boys who are currently 5, 9 and 11 yo. I ran into this issue of figuring out a strategy when I transferred 3 separate mutual funds accounts into a single family resp with TDDI a few years ago. I decided to put the whole sum of money into a single VBAL etf because it's the asset allocation that I'm comfortable with and also because it just makes my life much more easier than what you just explained lol. I could be wrong but I'm confident that I'm going to get very similar result with my simple strategy.
@Julien Tousignant - VBAL is a perfectly suitable option at your boys' age. As they get older, you may want to consider adding more short-term bond ETFs or 1-5 year GICs to the mix though, as VBAL can be expected to suffer maximum losses of around 30% in a serious market downturn. Also check out Shan's video on choosing an appropriate asset mix, which should help put the risk of investing in a balanced asset mix over shorter time periods into perspective (specifically the data between time 2:45 and 4:13): ua-cam.com/video/JyOqqtq12jQ/v-deo.html
I sure could have used this video when we started collapsing 1 of 2 family RESPs, complicates by two different family groups (remarriage involved) and two different brokerage firms. We went through the wringer to find CESG contributions including from the CESG program who was less than helpful. Knowing to ask for an account statement might have made all the difference!
I created an account for a niece, up to you though. Depends how much cash you have and your willingness to invest it in family. It really is an investment in the literal sense of the word.
DrCoffeePatch - I suspect Homer wouldn't be able to maximize the government grant for all three of his kids' on his modest Sector 7-G Safety Inspector salary ;) I did, however, try to be as accurate as possible with the dates of birth for Bart, Lisa, and Maggie. ua-cam.com/video/i6l8MFdTaPE/v-deo.html (making fun of myself)
Love your videos. Wow! I need your opinion. I am trying to build my ETF portfolio with $20k 70% to XEQT. Then, for dividends, should I choose the XEI 30% or should I just keep 30% XSP... Your opinion is greatly appreciated.
This Family RESP information is amazing! I wish I had started with ETFs, but wasn’t comfortable so I started with TD e-series at TD direct investor when I had one child. Any advice on how to easily navigate 2 kids RESPs with e-series? If I switch to ETF, TD direct investing charges a commission for each buy and sell which will add up too much. Thank you!
Hi, Thanks for this video. I just opened these accounts for my kids (12 & 9) with rbc, they told me that they have to manage the account and charge the MER at 1.94%, my question is can I manage RESP myself or really has to be managed by the bank? Thanks
Hi Justin, all your videos are really useful to me since I just moved to Canada and getting the hang of investing here. I have a question about this video though. How does one handle the allocation of different tickers to different kids (VEQT to kid 1, XEQT to kid 2) in a RESP family plan? The family plan asks you to set a % for each kid and then does the allocation automatically. Assuming I assign 50% for each kid, if I move deposit X in VEQT in my RESP, automatically X/2 gets allocated to Kid 1 and X/2 to kid 2. At that point, I guess the tables you showed for each kid no longer works. Or am I missing something? Or is the suggestion to have individual RESP accounts for each kid, but then there are downsides to that as well, correct?
@Koray Tugay - I know many investors that choose to invest their entire RESP into GICs or bond ETFs. Their goal is simply to maximize the government grant with little investment risk. And if they want to take more equity risk, they could just increase the equity allocation of their longer-term retirement portfolio instead. Makes sense to me too - there's no single correct method to investing an RESP :)
thank you so much! I'm very interested in this topic for the last two years and this is the first time ever I have seen this very interesting plan. What is expected return in 5 and 10 years (before first withdrawal)?
Hi, thank you for this. Helps me a lot. I made a mistake of buying Xgro and vgro. Will I have to sell all of these in order to buy the 2 single ETFs in each portfolio you recommend? Am doing monthly contributions does that mean it is preferred to save the money, wait and invest all yearly instead of monthly? Thank you
Justin, many thanks. I currently hold VGRO in a family RESP, two kids age 4 and 6. My plan was: every three years I move the funds to the next lower risk asset allocation ETF. So VGRO, then VBAL, then VCNS, finally VCIP. I'm realizing from your video that my plan is suboptimal. Would you recommend I change my plan so that I move down the risk ladder faster and end in an al- bond EFT?
@Justin Osmond - I don't see any major issues with your plan. For the video, I wanted to provide investors with a strategy where they didn't need to make any timing decisions (they could just follow a process each year).
Not sure if this is sound. I invest everything into pure equity until the child is 8, then start investing 10% into fixed income each year. So by the time the child is 18 the portfolio will then be all fixed income.
@Tanah Merah - Your strategy sounds reasonable as well. The main goal is to significantly reduce the equity risk well before your child reaches 18, which your strategy would accomplish.
Thanks very much Justin for a great video. Would you be able to make a video how to invest in retirement ? There are many theories out there and consequently a lot of confusion.
@Andrew D. - For sure...I could create a video on how I approach managing a retirement portfolio. There's always going to be differing opinions on how best to accomplish this (and none of them can claim superiority). So in the end, you'll need to decide for yourself which strategy best matches your investing philosophy.
Hi Justin, any RESP provider with no commission fee and self-direct investing? I am worried about Questrade's commission fees when it comes time to sell. And Wealthsimple doesn't have self-direct option. I am sick of paying the hight MER fr my bank Mutual fund. thx
Excellent content. I wanted to take a look at your Asset mix table, but have noticed that your blog is down (or no longer available)? Do you have a new site, or recommended sites for model portfolios? Thanks!
@amannurmohamed4374 - The CPM blog is just down (not sure what's wrong with it, but my web administrators are looking into it). Hopefully it should be back up and running shortly. In the meantime, please feel free to check out the Bender Bender Bortolotti model ETF portfolios: www.pwlcapital.com/resources/team-bender-bender-bortolotti-model-portfolio-july-2023/
@Oleksandr Lytvyn - Good question! I was hoping Mackenzie would have released an all-equity ETF by now, but until that happens, you could opt for a combination of VCN/VXC for the equity portion (with a 30/70 split between Canadian and foreign equity) and QSB for the short-term bond ETF. If Mackenzie releases an all-equity ETF at some point in the future, you could switch VCN/VXC to this new ETF (MEQT?).
Can I not buy the same ETFs for my kids? I got both my daughter (9) and son (6) in XEQT. Seems like Justin is suggesting to change up the investments? Or have I misunderstood? Same question for the bond allocation
@Siwashable - You can definitely purchase the same investments for both kids (purchasing different investments might just be a bit more intuitive for some parents :)
Great video, very helpful! I was wondering how you pick the asset allocation. I've been following a portfolio manager from MTL and according to research the stock market has never lost money in any 11 year period, so by default he says that if you have 11 years or more of time horizon you can be 100% stocks and as you progress you calculate your income needs for the next 10 years. The income you will need for the next 10 years should be in bonds. I was wondering why at age 0 the RESP isn't 100% stocks and at 10 years old it's only a balanced fund with a time horizon of at least 8-10 years. Thanks for your help!!
I love the first 3 minutes of the video, but as a dad of 6 kids, managing six different portfolios within a family RESP is probably not practical. Is there any significant down-side to simply using your glide path chart with my kids' AVERAGE age? haha
@chadanderson_ca - Haha - you could definitely just calculate how much you require in equities for each child and then purchase a single equity ETF for the total amount (and do the same for the bond ETF) 😀
Does it make sense to setup a DRIP in your child’s RESP? In doing so I am curious if there could be any added tax consequences/complications for the child later once they need to withdrawal for their education.
@MikeSaturno - No big issues setting up a DRIP in an RESP. The only annoying thing that can occur is when you fully sell an ETF, but a dividend pays out afterwards and is reinvested (in this case, you'll have a small amount of units you will need to sell).
Thank you for sharing your years of knowledge, Justin. I wanted to ask for some clarification on the choice of short-term bonds like VSB. Why go for short-term instead of an bond like ZAG? What happens when the short-term bond "matures"? Also, do you know of any Canadian ETFs that decrease risk before a target date?
@wai0937 - I chose short-term bond ETFs in these examples, as it was easier to explain to viewers (and they currently have similar yields to broad market bond ETFs). I do mention in the video that you can go with broad market bond ETFs (just be sure to gradually shift these to shorter-term bond ETFs/GICs/ISAs as your child gets older. Bond ETFs never mature (the proceeds from bond maturities or sales are just reinvested in more bonds). Evermore ETFs are the only target date retirement ETFs available in Canada (that I am aware of): www.evermore.ca/en/retirement-etfs
@JustinBenderCPM, how often would you re-balance to maintain the target asset allocation? Only once a year when contributing more funds? Perhaps twice after the CESG match is deposited? Or more often?
@Edirol - I would rebalance once per year in most years (when you contribute more funds). When the CESG arrives in the account (usually 1-2 months later), you could also use this cash to fine-tune your asset mix. Apart from that, if there is a huge market downturn partway through the year (i.e., like in March 2020 at the onset of the pandemic), you could also review the RESP and rebalance accordingly.
When you say adjust each year, does that mean just buy new assets in appropriate percentage or also sell the previously purchased to match the target asset mix ?
If you open resps account at a discount brokerage with minimal trading fees, wouldn't it save a lot of bookkeeping to just open a separate resp per child instead of a family one?
it could yes. one thing to consider is that with a family RESP, the grants/income/contributions in the account can be shared across all the beneficiaries as you see fit. Maybe one child is going to a cheaper school and another is doing an expensive post grad program, you can control how much each child gets and are less limited to the individual contribution totals of each kid.
@Siwashable - If you don't think they'll benefit from sharing income or grant in the RESP, there's no need to combine them into a family plan (this can also always be done at some point in the future).
thanks you for the detail video ! hi justin would you recommend having VEQT and a Bond in a Non register Account. i have VGRO in my TFSA and RRSP both are now max out so i want to open a non register account if i buy VGRO in my Non register account my concern is that i cant sell it and buy VBAL later because of the taxe loss. So can it be better to buy VEQT and VAB (sry for my bad english im a french canadian)
@Gabriel Tremblay - If you're comfortable managing two ETFs in your non-registered account, this would be a more intuitive strategy (and possibly more tax-efficient) as you approach retirement and gradually reduce the equity risk in your portfolio.
@shannoncavey2316 - Mackenzie has released the Mackenzie All-Equity Allocation ETF (MEQT), so you could use this combined with the Mackenzie Canadian Short-Term Bond Index ETF (QSB) or the Mackenzie Canadian Aggregate Bond Index ETF (QBB) :)
I am currently investing in Questrade with XEQT (90)/VAB(10) allocation. Recently my accountant keep insisting to go with top 5 banks if the same products are available instead of these venture capitalist's backed trading platforms. Is it true that we are still dependent on the trading platform for our assets instead of the company's product that we bought?. I currently bank with CIBC before opening up a TFSA account with their Edge account, wanna check whether VEQT/XEQT are available or not but cannot find that information
@Madhu Kannuri - You can buy VEQT and XEQT at any Canadian discount brokerage (although certain brokerages offer commission-free ETF trading on these securities).
Remember, Scotia iTrade has access to DYN6004 (F-series, not sure what F stands for...), which is a few dozen basis points higher than the DYN6000. It can also buy the XEQT/XBAL/XGRO/XCNS commission-free.
100% of UA-cam revenues received by the Canadian Portfolio Manager channel have been donated to SickKids Foundation.
If this video has helped save you a few dollars on fees or taxes, please consider donating a portion of your savings to SickKids Foundation: www.sickkidsfoundation.com/
Great cause! Especially after our gov short-changed their funding. Is there a script to turn off our ad-blockers for your channel? I just started my CS program...=/
The calibre of information that you give away for free is nothing short of amazing. Thank you again.
@Dennis Micallef - We're so glad you feel that way - you're very welcome!! :)
Awesome detail for helping families with more than 1 beneficiary. Separating by fund makes things pretty easy to rebalance. Thanks for the tip!
@Brian - You're very welcome - let me know how the RESP management goes for you :)
I know parents to share this with when they’re ready. Thank you for helping families who need this. Good info in this format (clear, unbiased, organized and free of sales) are rare now.
Not sure if you will be reading this but thank you so much for this video. As a father of 5 kids, this is a very important topic to me. I'm going for the XEQT/XSB/PSA with maxing the 2500$ for every child at the beginning of each year. Hopefully it will all work out good!
@Seha Sok - You're very welcome! Best of luck with your RESP portfolio management 😊
Thanks for covering this topic Justin. I have 3 boys who are currently 5, 9 and 11 yo. I ran into this issue of figuring out a strategy when I transferred 3 separate mutual funds accounts into a single family resp with TDDI a few years ago. I decided to put the whole sum of money into a single VBAL etf because it's the asset allocation that I'm comfortable with and also because it just makes my life much more easier than what you just explained lol. I could be wrong but I'm confident that I'm going to get very similar result with my simple strategy.
@Julien Tousignant - VBAL is a perfectly suitable option at your boys' age. As they get older, you may want to consider adding more short-term bond ETFs or 1-5 year GICs to the mix though, as VBAL can be expected to suffer maximum losses of around 30% in a serious market downturn.
Also check out Shan's video on choosing an appropriate asset mix, which should help put the risk of investing in a balanced asset mix over shorter time periods into perspective (specifically the data between time 2:45 and 4:13):
ua-cam.com/video/JyOqqtq12jQ/v-deo.html
@@JustinBenderCPM will definitely consider thanks so much and good idea I'll rewatch that video again.
I sure could have used this video when we started collapsing 1 of 2 family RESPs, complicates by two different family groups (remarriage involved) and two different brokerage firms. We went through the wringer to find CESG contributions including from the CESG program who was less than helpful. Knowing to ask for an account statement might have made all the difference!
Brilliant idea to separate the funds like that for each child!
@K Lee - I'm glad you liked the idea! I thought it was a bit more intuitive for parents :)
Simple and easy to understand. Thanks for the awesome video!
I don’t have any kids but I enjoyed the learning. I did share the video with a friend who has 3 kids
I created an account for a niece, up to you though. Depends how much cash you have and your willingness to invest it in family. It really is an investment in the literal sense of the word.
What an absolutely fantastic and thorough video!
I looked everywhere for a video like this! Great content Justin.
@fubar8194 - Glad you found the video helpful! Thanks for watching :)
I’m certain Marge and Homer are grateful for this informative video! 🙌
DrCoffeePatch - I suspect Homer wouldn't be able to maximize the government grant for all three of his kids' on his modest Sector 7-G Safety Inspector salary ;)
I did, however, try to be as accurate as possible with the dates of birth for Bart, Lisa, and Maggie.
ua-cam.com/video/i6l8MFdTaPE/v-deo.html (making fun of myself)
😂🤪😂
The content on this channel are top notch!!
@MoBee - Thank you so much!!
Amazing content!! Loved every bit.
Love your videos. Wow! I need your opinion.
I am trying to build my ETF portfolio with $20k
70% to XEQT. Then, for dividends, should I choose the XEI 30% or should I just keep 30% XSP... Your opinion is greatly appreciated.
This Family RESP information is amazing! I wish I had started with ETFs, but wasn’t comfortable so I started with TD e-series at TD direct investor when I had one child. Any advice on how to easily navigate 2 kids RESPs with e-series? If I switch to ETF, TD direct investing charges a commission for each buy and sell which will add up too much. Thank you!
Hi,
Thanks for this video. I just opened these accounts for my kids (12 & 9) with rbc, they told me that they have to manage the account and charge the MER at 1.94%, my question is can I manage RESP myself or really has to be managed by the bank?
Thanks
Hi Justin, all your videos are really useful to me since I just moved to Canada and getting the hang of investing here. I have a question about this video though. How does one handle the allocation of different tickers to different kids (VEQT to kid 1, XEQT to kid 2) in a RESP family plan? The family plan asks you to set a % for each kid and then does the allocation automatically. Assuming I assign 50% for each kid, if I move deposit X in VEQT in my RESP, automatically X/2 gets allocated to Kid 1 and X/2 to kid 2. At that point, I guess the tables you showed for each kid no longer works. Or am I missing something? Or is the suggestion to have individual RESP accounts for each kid, but then there are downsides to that as well, correct?
Does a 10 year GIC make sense especially with the rates nowadays like 5%?
@Koray Tugay - I know many investors that choose to invest their entire RESP into GICs or bond ETFs. Their goal is simply to maximize the government grant with little investment risk. And if they want to take more equity risk, they could just increase the equity allocation of their longer-term retirement portfolio instead.
Makes sense to me too - there's no single correct method to investing an RESP :)
thank you so much! I'm very interested in this topic for the last two years and this is the first time ever I have seen this very interesting plan. What is expected return in 5 and 10 years (before first withdrawal)?
Hi, thank you for this. Helps me a lot. I made a mistake of buying Xgro and vgro. Will I have to sell all of these in order to buy the 2 single ETFs in each portfolio you recommend? Am doing monthly contributions does that mean it is preferred to save the money, wait and invest all yearly instead of monthly? Thank you
Justin, many thanks. I currently hold VGRO in a family RESP, two kids age 4 and 6. My plan was: every three years I move the funds to the next lower risk asset allocation ETF. So VGRO, then VBAL, then VCNS, finally VCIP. I'm realizing from your video that my plan is suboptimal. Would you recommend I change my plan so that I move down the risk ladder faster and end in an al- bond EFT?
@Justin Osmond - I don't see any major issues with your plan. For the video, I wanted to provide investors with a strategy where they didn't need to make any timing decisions (they could just follow a process each year).
@@JustinBenderCPM very well done on that!
Not sure if this is sound. I invest everything into pure equity until the child is 8, then start investing 10% into fixed income each year. So by the time the child is 18 the portfolio will then be all fixed income.
@Tanah Merah - Your strategy sounds reasonable as well. The main goal is to significantly reduce the equity risk well before your child reaches 18, which your strategy would accomplish.
Thanks very much Justin for a great video. Would you be able to make a video how to invest in retirement ? There are many theories out there and consequently a lot of confusion.
@Andrew D. - For sure...I could create a video on how I approach managing a retirement portfolio. There's always going to be differing opinions on how best to accomplish this (and none of them can claim superiority). So in the end, you'll need to decide for yourself which strategy best matches your investing philosophy.
Hi Justin, any RESP provider with no commission fee and self-direct investing? I am worried about Questrade's commission fees when it comes time to sell. And Wealthsimple doesn't have self-direct option. I am sick of paying the hight MER fr my bank Mutual fund. thx
Brilliant content. Keep up the good work
Excellent content. I wanted to take a look at your Asset mix table, but have noticed that your blog is down (or no longer available)? Do you have a new site, or recommended sites for model portfolios? Thanks!
@amannurmohamed4374 - The CPM blog is just down (not sure what's wrong with it, but my web administrators are looking into it). Hopefully it should be back up and running shortly.
In the meantime, please feel free to check out the Bender Bender Bortolotti model ETF portfolios:
www.pwlcapital.com/resources/team-bender-bender-bortolotti-model-portfolio-july-2023/
Great approach! I have 4 kids, would you be so kind to recommend a 4th similar set of equity, bonds and cash symbols?
@Oleksandr Lytvyn - Good question! I was hoping Mackenzie would have released an all-equity ETF by now, but until that happens, you could opt for a combination of VCN/VXC for the equity portion (with a 30/70 split between Canadian and foreign equity) and QSB for the short-term bond ETF. If Mackenzie releases an all-equity ETF at some point in the future, you could switch VCN/VXC to this new ETF (MEQT?).
Thank you. Been looking for a video like this.
@Michael Ng - You're very welcome - hopefully you find it helpful :)
Thank you for this video! Any chance you can also do a How to invest in ypur LIRA video?
Question: Aren't you taxed for non-Canadian dividends from ETF's in an RESP? So, VEQT in an RESP would not be a good choice? Thanks for answering.
@Zelo The Quiet - Foreign withholding taxes should not dictate your investment strategy (it's just one of the many factors to consider).
Can I not buy the same ETFs for my kids? I got both my daughter (9) and son (6) in XEQT. Seems like Justin is suggesting to change up the investments? Or have I misunderstood? Same question for the bond allocation
@Siwashable - You can definitely purchase the same investments for both kids (purchasing different investments might just be a bit more intuitive for some parents :)
Great video, very helpful! I was wondering how you pick the asset allocation. I've been following a portfolio manager from MTL and according to research the stock market has never lost money in any 11 year period, so by default he says that if you have 11 years or more of time horizon you can be 100% stocks and as you progress you calculate your income needs for the next 10 years. The income you will need for the next 10 years should be in bonds. I was wondering why at age 0 the RESP isn't 100% stocks and at 10 years old it's only a balanced fund with a time horizon of at least 8-10 years. Thanks for your help!!
@Joel Crevier - Check out our video "How to Choose Your Asset Allocation" :)
ua-cam.com/video/JyOqqtq12jQ/v-deo.html
I love the first 3 minutes of the video, but as a dad of 6 kids, managing six different portfolios within a family RESP is probably not practical. Is there any significant down-side to simply using your glide path chart with my kids' AVERAGE age? haha
@chadanderson_ca - Haha - you could definitely just calculate how much you require in equities for each child and then purchase a single equity ETF for the total amount (and do the same for the bond ETF) 😀
Does it make sense to setup a DRIP in your child’s RESP? In doing so I am curious if there could be any added tax consequences/complications for the child later once they need to withdrawal for their education.
@MikeSaturno - No big issues setting up a DRIP in an RESP. The only annoying thing that can occur is when you fully sell an ETF, but a dividend pays out afterwards and is reinvested (in this case, you'll have a small amount of units you will need to sell).
Thank you for sharing your years of knowledge, Justin.
I wanted to ask for some clarification on the choice of short-term bonds like VSB. Why go for short-term instead of an bond like ZAG? What happens when the short-term bond "matures"?
Also, do you know of any Canadian ETFs that decrease risk before a target date?
@wai0937 - I chose short-term bond ETFs in these examples, as it was easier to explain to viewers (and they currently have similar yields to broad market bond ETFs). I do mention in the video that you can go with broad market bond ETFs (just be sure to gradually shift these to shorter-term bond ETFs/GICs/ISAs as your child gets older.
Bond ETFs never mature (the proceeds from bond maturities or sales are just reinvested in more bonds).
Evermore ETFs are the only target date retirement ETFs available in Canada (that I am aware of): www.evermore.ca/en/retirement-etfs
@@JustinBenderCPM Thanks Justin/Shannon. Appreciate all the effort you put into your content and responses. Been following your work for years now.
@JustinBenderCPM, how often would you re-balance to maintain the target asset allocation? Only once a year when contributing more funds? Perhaps twice after the CESG match is deposited? Or more often?
@Edirol - I would rebalance once per year in most years (when you contribute more funds). When the CESG arrives in the account (usually 1-2 months later), you could also use this cash to fine-tune your asset mix.
Apart from that, if there is a huge market downturn partway through the year (i.e., like in March 2020 at the onset of the pandemic), you could also review the RESP and rebalance accordingly.
When you say adjust each year, does that mean just buy new assets in appropriate percentage or also sell the previously purchased to match the target asset mix ?
@Roger Fed - It could be a the first or a combination of both, depending on the asset class returns in the prior year.
If you open resps account at a discount brokerage with minimal trading fees, wouldn't it save a lot of bookkeeping to just open a separate resp per child instead of a family one?
it could yes. one thing to consider is that with a family RESP, the grants/income/contributions in the account can be shared across all the beneficiaries as you see fit. Maybe one child is going to a cheaper school and another is doing an expensive post grad program, you can control how much each child gets and are less limited to the individual contribution totals of each kid.
I agree, for all its additional complexity, I still think the flexibility of a family RESP is superior.
I've got my 2 kids (9 and 6) in individual plans. Should I put them into a family plan?
@Siwashable - If you don't think they'll benefit from sharing income or grant in the RESP, there's no need to combine them into a family plan (this can also always be done at some point in the future).
thanks you for the detail video !
hi justin would you recommend having VEQT and a Bond in a Non register Account.
i have VGRO in my TFSA and RRSP both are now max out so i want to open a non register account
if i buy VGRO in my Non register account my concern is that i cant sell it and buy VBAL later because of the taxe loss.
So can it be better to buy VEQT and VAB
(sry for my bad english im a french canadian)
@Gabriel Tremblay - If you're comfortable managing two ETFs in your non-registered account, this would be a more intuitive strategy (and possibly more tax-efficient) as you approach retirement and gradually reduce the equity risk in your portfolio.
Thanks you !
I guess that will not work with a family type of RESP (common stocks pool with split ratio between beneficiaries) ...
Does all the resp subscriber can withdraw money from RESP account ?
@chantelzhang - My apologies, but I'm not understanding your question. Would you mind providing a bit more detail/context? Thanks!
So the Simpsons moved to Canada and Homer is building an awesome RESP. Niiice
I need one more etf combo for my 4th child! :)
@shannoncavey2316 - Mackenzie has released the Mackenzie All-Equity Allocation ETF (MEQT), so you could use this combined with the Mackenzie Canadian Short-Term Bond Index ETF (QSB) or the Mackenzie Canadian Aggregate Bond Index ETF (QBB) :)
No need to invest in Bart's RESP, he won't graduate from high school! Focus on Lisa and Maggie's RESP instead 🤣
Use a family account for that kind of setup vs. individual!
@Phil Landry - 🤣🤣 I thought about that, but my examples don't need to be 100% realistic: ua-cam.com/video/h1nD4o3zTfo/v-deo.html
I am currently investing in Questrade with XEQT (90)/VAB(10) allocation. Recently my accountant keep insisting to go with top 5 banks if the same products are available instead of these venture capitalist's backed trading platforms. Is it true that we are still dependent on the trading platform for our assets instead of the company's product that we bought?. I currently bank with CIBC before opening up a TFSA account with their Edge account, wanna check whether VEQT/XEQT are available or not but cannot find that information
@Madhu Kannuri - You can buy VEQT and XEQT at any Canadian discount brokerage (although certain brokerages offer commission-free ETF trading on these securities).
Remember, Scotia iTrade has access to DYN6004 (F-series, not sure what F stands for...), which is a few dozen basis points higher than the DYN6000. It can also buy the XEQT/XBAL/XGRO/XCNS commission-free.