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  Canada Immigration Forum > About Canada > Registered Education Saving Plan > RESP : Self Directed vs MF based
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RESP : Self Directed vs MF based




 
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Folks,

Which of the 2 options is better - self directed via I Trade / Questrade or TD E Series

OR

Going for a Bank MF such as RBC 2025 / 2030 etc.

I understand that the 1st option is more for fin savvy people but generally speaking, is that a difficult way to go ? What are the challenges therein ?

Out of self directed ones viz Scotia I Trade , TD E Series and Quest trade , which is the best with regards to fees obviously and ease of use ?

Please advise - I wish to stay away from other than the Banks.

Amongst the Bank MF s any recommendations , most welcome.

Thanks.

-----------------------------------------------------------------
Fido.

 
Last edited by: Fido on 20-12-16 18:12:02
Fido

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Post ID: 233614 20-12-16 18:10:13
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Full House
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Thanks FIDO for an AD that might be worth discussing, if people are interested in wanting to know more on this subject matter.

But the AD by itself looks to be 10 years old and the links lead to nowhere.

RESP. is a saving made by the Parents for their children's Education and every financial institution seems to be promoting around this time of the year. Hope some one who is thinking of this kind of investment and is contemplating to avail such investment funds should get to know and also find out the PROS and CONS of such investing and other/alternate usage of such an invested amount also.

It will be well worth knowing more about it and will also lead to other types of investments that one can make to make some financial gains.

Good Luck.

FH.


 
Post ID: 233615 21-12-16 01:13:07
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Full House
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Duplicate.
FH.


 
Last edited by: Full House on 21-12-16 01:13:51
Post ID: 233616 21-12-16 01:13:08
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rajcanadaMember of Administrators
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Fido, both options you have mentioned are mutual funds. It is just that RBC 2025 is a bigger collection of mutual funds like RBC Bond Fund, RBC Equity Fund, etc. If you invested in RBC 2025 (RBF595) via Questrade, their fee is $9.95. Looks like RBC Direct allows you to buy mutual funds without any fee, so for mutual funds like RBC 2025 it will be a better option.

Edit: I assumed you are talking only about mutual funds. You can hold individual stocks, ETFs, etc. as well when you use a platform like Questrade.

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Last edited by: rajcanada on 23-12-16 09:43:56
Post ID: 233629 23-12-16 07:06:04
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Fido
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Hi Raj,

Thanks a lot for your inputs. I am still very fuzzy but with others help and a bit of a research, I hope to get sailing.

I knew RBC2025 was a MF but thought it was exclusive to RBC. Appears it can be got through Questrade also - is my understanding correct that when brought through QT, the fee is less.

Upon jogging my memory I recollect that MFs can be traded as well and are priced at their current price for eg a close ended MF due in 2025, can be brought in 2010, 2014 & 2020 also.

Since QT gives us the option of trading in MFs / ETF s etc. , is it a better option that going for Scotia/ RBC or TDs similar direct trade services - from a point of view of fees and convenience(user friendliness etc) ?

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Fido.

 
Post ID: 233630 23-12-16 10:47:52
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sguk
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self directed is the best. all those of EFT/MF do is hide a lot of risks. Anyways ... many of them don't do well. Instead buy your own stocks. Wait for the market to pull back. Too high at the moment. Looks like market is in love with Trump.

Quote:
Originally posted by Fido

(Any post appearing above this is an ad )

Folks,

Which of the 2 options is better - self directed via I Trade / Questrade or TD E Series

OR

Going for a Bank MF such as RBC 2025 / 2030 etc.

I understand that the 1st option is more for fin savvy people but generally speaking, is that a difficult way to go ? What are the challenges therein ?

Out of self directed ones viz Scotia I Trade , TD E Series and Quest trade , which is the best with regards to fees obviously and ease of use ?

Please advise - I wish to stay away from other than the Banks.

Amongst the Bank MF s any recommendations , most welcome.

Thanks.





 
Post ID: 233631 23-12-16 13:15:39
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Fido
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Member since: Aug 06




Posts: 5286
Location: Canada


Thanks Appreciated.
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Fido.

 
Post ID: 233632 23-12-16 16:16:46
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Shinda
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RESP
HI

Before going into MF. Checkout segregated funds vs Mutual Funds

I think segregated funds are much better option


 
Last edited by: Shinda on 28-12-16 13:40:55
Post ID: 233657 28-12-16 13:40:22
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Confused_Canadian
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Why should seg funds should be any different.

Once you decide to take the high road of stock market the risk is always there.Seg fund is one more money grabbing technic, where you pay additional premium and lock yourself for some years for a guarantee which most likely you never use.





Quote:
Originally posted by Shinda

HI

Before going into MF. Checkout segregated funds vs Mutual Funds

I think segregated funds are much better option





 
Post ID: 233660 28-12-16 18:53:33
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Fido
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Member since: Aug 06




Posts: 5286
Location: Canada


Which are the other popular funds CD s invest in and can recommend ?

I was earlier thinking to invest before the end of the year, but now I am thinking of taking a breather and doing it in Jan or so after further research of the avenues.

Govt grant is one thing , the prospects of what you invest in is another.

Thanks.

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Fido.

 
Post ID: 233662 29-12-16 12:53:38
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Contributors:
Confused_Canadian(1)  Fido(4)  Full House(2)  mkannuri(1)  rajcanada(1)  sguk(1)  Shinda(1)  
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