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How much do you know about financial independence?

Oct. 3, 2016, 8:18 a.m.
Posts: 16180
Joined: Nov. 20, 2002

ING is no longer a thing in Canada, eh?


https://www.youtube.com/watch?v=LyM4vxxu2jA

When one person suffers from a delusion, it is called insanity.

When many people suffer from a delusion, it is called religion.

Oct. 3, 2016, 11:27 a.m.
Posts: 14433
Joined: Nov. 20, 2002

I got a mortgage 6 years ago when they were part of ING

I think BNS bought them

I haven't noticed any difference

Oct. 3, 2016, 11:56 a.m.
Posts: 583
Joined: June 6, 2006

It used to be great using any Credit Union ATM for free with ING, but with Tangerine now it's only ScotiaBank ATMs. That's the only diff I've seen. This was a more noticeable difference out in the sticks I guess

Oct. 3, 2016, 1:52 p.m.
Posts: 14433
Joined: Nov. 20, 2002

I don't have a card, I e-transfer in and only use ING/Tangerine to borrow or park money

Oct. 8, 2016, 10:07 a.m.
Posts: 2658
Joined: July 6, 2003

So I'm finally getting around to opening a brokerage account as I'm tired of paying MERs that are out of line for the returns I am getting. Going to be using RBC (I know there are cheaper alternatives out there, it's who I bank with so its just simpler this way).

Im not interested in spending hours of time researching and monitoring daily so I am going to be using the coach potato plan.

This is for money I have sitting in RRSPs (around 100K) and I am no longer contributing as I now have a workplace pension (currently it's DC but it will be transitioning to a DB plan in 2018 ).

My question is RBC offers a limited number of shares that are available for DRIP:http://www.rbcdirectinvesting.com/drip-list.html#i

So I originally was just going to go with the the following recommended index funds:
25% XQB
25% XIC
50% XUU

But unfortunately XUU is not on RBCs list of DRIP eligible funds so I was thinking of replacing it with XSP, which is DRIP eligible, but is limited to the S[HTML_REMOVED]P500 and not total market?

Should I forgo the DRIP and get better US market exposure or go for XSP?

As I only plan on balancing once per yer to keep costs down I like the idea of any dividends getting "to work" right away.

Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.

Oct. 8, 2016, 10:31 a.m.
Posts: 17780
Joined: Oct. 28, 2003

Drip lists online aren't necessarily accurate. Call RBC to find out that you can drip what you want to buy. Vanguard funds weren't on my brokerages list, but all of mine drip. You need to call RBC anyway to set up the drip after you buy the fund.

XUU drips according to Ishares, so it'll be eligible. If RBC says otherwise, buy it through someone else.

You're right that drip is important when you are paying per transaction.

Oct. 8, 2016, 12:54 p.m.
Posts: 2658
Joined: July 6, 2003

Drip lists online aren't necessarily accurate. Call RBC to find out that you can drip what you want to buy. Vanguard funds weren't on my brokerages list, but all of mine drip. You need to call RBC anyway to set up the drip after you buy the fund.

XUU drips according to Ishares, so it'll be eligible. If RBC says otherwise, buy it through someone else.

You're right that drip is important when you are paying per transaction.

I believe the list I posted are the synthetic DRIPs offered by RBC?

Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.

Oct. 8, 2016, 1:14 p.m.
Posts: 17780
Joined: Oct. 28, 2003

My brokerage had a similar list that didn't include the ETFs I wanted to drip. I called them up and they told me they could drip the ones I wanted to, but weren't on the list.

Think about maintaining a current list of all holdings that are drip eligable. Impossible in my mind.

Oct. 8, 2016, 1:35 p.m.
Posts: 1487
Joined: Aug. 6, 2009

I now have a workplace pension (currently it's DC but it will be transitioning to a DB plan in 2018 )

Wow, that is pretty rare these days. Most companies are going the other way as fast as they can.

Oct. 8, 2016, 1:59 p.m.
Posts: 2658
Joined: July 6, 2003

Wow, that is pretty rare these days. Most companies are going the other way as fast as they can.

I'll beleive it when I see it too but it's in our latest contract.

Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.

Oct. 8, 2016, 4:17 p.m.
Posts: 1172
Joined: Feb. 24, 2017

Wow, that is pretty rare these days. Most companies are going the other way as fast as they can.

no shit i figured it was a misprint.

Oct. 8, 2016, 5:45 p.m.
Posts: 2658
Joined: July 6, 2003

no shit i figured it was a misprint.

Yeah really can't complain too much. Just under $40 an hour, all OT is 2x, 3x on stats, 4 weeks of holidays, and soon to be a DB plan (we had a DC plan that they matched at 200%) Just have to keep yourself motivated to work 12 hour days, 0600-1800 and 1800 to 0600. :(

Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.

Oct. 8, 2016, 5:51 p.m.
Posts: 2658
Joined: July 6, 2003

My brokerage had a similar list that didn't include the ETFs I wanted to drip. I called them up and they told me they could drip the ones I wanted to, but weren't on the list.

Think about maintaining a current list of all holdings that are drip eligable. Impossible in my mind.

Again I believe that the list of drip eligible stocks are all synthetic drips. My understanding of synthetic drips is that they are operated by the brokerage not the companies who's shares you have purchased. Thus you only get it purchase full share amounts with your dividends unlike computer share that allows you to purchase partial shares with your dividends but charges more to sell. Although admittedly I am a newb on financial issues like these.

Originally posted by Purecanadianhoney
I don't see how hard it would be to scrape out the head of your cock once in a while.

Oct. 8, 2016, 6:57 p.m.
Posts: 17780
Joined: Oct. 28, 2003

Call RBC to find out that you can drip what you want to buy

Again, thats my advice in your situation. Take it or leave it.

Oct. 9, 2016, 8:39 p.m.
Posts: 1172
Joined: Feb. 24, 2017

Yeah really can't complain too much. Just under $40 an hour, all OT is 2x, 3x on stats, 4 weeks of holidays, and soon to be a DB plan (we had a DC plan that they matched at 200%) Just have to keep yourself motivated to work 12 hour days, 0600-1800 and 1800 to 0600. :(

wow. may i ask what career/trade/profession you work in? them's some long hours.

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