So, how are your investments doing?


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dimple2001   
Member since: Apr 04
Posts: 2873
Location: Western Hemisphere

Post ID: #PID Posted on: 16-12-09 14:44:44

In regards to TFSA, I am not happy with the funds left in the institution I am with right now. Can I open a new account at another location and move the current funds into the future location (like a rollover)?

Or is my only option is to withdraw now, wait for the next year (new contributory period) and invest at the new location?

Thanks.


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Dimple2001


pratickm   
Member since: Feb 04
Posts: 2831
Location: Toronto

Post ID: #PID Posted on: 16-12-09 14:58:51

Quote:
Originally posted by dimple2001
In regards to TFSA, I am not happy with the funds left in the institution I am with right now. Can I open a new account at another location and move the current funds into the future location (like a rollover)?

Or is my only option is to withdraw now, wait for the next year (new contributory period) and invest at the new location?

You can do a TFSA-to-TFSA transfer, just like an RRSP-to-RRSP transfer.
The transfer can be in cash or in kind, depending on what you hold.
Most likely, there'll be a transfer out fee charged by the relinquishing institution, usually between $25 - $50 but some full service brokerages may charge upto $100.


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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"


dimple2001   
Member since: Apr 04
Posts: 2873
Location: Western Hemisphere

Post ID: #PID Posted on: 16-12-09 15:10:01

Quote:
Originally posted by pratickm

Quote:
Originally posted by dimple2001
In regards to TFSA, I am not happy with the funds left in the institution I am with right now. Can I open a new account at another location and move the current funds into the future location (like a rollover)?

Or is my only option is to withdraw now, wait for the next year (new contributory period) and invest at the new location?

You can do a TFSA-to-TFSA transfer, just like an RRSP-to-RRSP transfer.
The transfer can be in cash or in kind, depending on what you hold.
Most likely, there'll be a transfer out fee charged by the relinquishing institution, usually between $25 - $50 but some full service brokerages may charge upto $100.



Thanks patrickm. I assume the receiving firm would have the necessary forms for the transfer.


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Dimple2001


pratickm   
Member since: Feb 04
Posts: 2831
Location: Toronto

Post ID: #PID Posted on: 16-12-09 16:18:35

Quote:
Originally posted by dimple2001
Thanks patrickm. I assume the receiving firm would have the necessary forms for the transfer.

Yes, they should.
In most cases, it's the same or very similar form as the RRSP transfer.


-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"


dimple2001   
Member since: Apr 04
Posts: 2873
Location: Western Hemisphere

Post ID: #PID Posted on: 16-12-09 16:49:53

Quote:
Originally posted by pratickm

Quote:
Originally posted by dimple2001
Thanks patrickm. I assume the receiving firm would have the necessary forms for the transfer.

Yes, they should.
In most cases, it's the same or very similar form as the RRSP transfer.



Thanks again.


-----------------------------------------------------------------
Dimple2001


dimple2001   
Member since: Apr 04
Posts: 2873
Location: Western Hemisphere

Post ID: #PID Posted on: 17-12-09 15:49:30

Quote:
Originally posted by pratickm

Yeah, these days a 10% annualized return can be considered awesome.
Quote:

Out of pocket money invested $B, re-invested earnings - $C, Market Value - $A
(A -(B+C) ) / (B+C). I would call it return on cost basis. Right now, this return is negative 1%.

So that formula is assuming that B and C were done on 1st Jan.
To get the true annualized return, you need to factor in the date of investment.
To get the value on calculation date, you have to do:
=Amount of contribution or distribution * (1+Rate of Return)^(Number of Days from Investment till today / 365)



Ok, I actually discovered Quicken does calculate the annualized return (using the IRR concept).

Based on that, the annualized returns on investments I have had for several years are in the range of 3.5% to 6%.


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Dimple2001


pratickm   
Member since: Feb 04
Posts: 2831
Location: Toronto

Post ID: #PID Posted on: 17-12-09 19:25:16

Quote:
Originally posted by dimple2001
Based on that, the annualized returns on investments I have had for several years are in the range of 3.5% to 6%.

Cool, that's not bad at all esp. if it's for a period of 5 years or more.
A lot of self stock pickers do much worse.
But it also goes to show how passive investing often beats active investing.
Most broad based equity ETFs and low cost index funds have returns in the 5% to 7% range for periods of 10 years or more.
The TSX 60 ETF (XIU) for example has a return of 7.26% for a period of over 10 years.


-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"


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