Comments on: Why I Became Serious About Money https://www.moneywehave.com/why-i-became-serious-about-money/ Personal Finance and Budget Travel for Canadians Sun, 10 May 2020 17:58:27 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Barry Choi https://www.moneywehave.com/why-i-became-serious-about-money/#comment-12462 Thu, 22 Jun 2017 21:39:43 +0000 https://www.moneywehave.com/?p=6286#comment-12462 In reply to Courtney B.

Courtney,

RRSP matching is always to your advantage. If your employer allows you to invest with anyone, I would totally make a switch.

]]> By: Courtney B https://www.moneywehave.com/why-i-became-serious-about-money/#comment-12461 Thu, 22 Jun 2017 21:34:00 +0000 https://www.moneywehave.com/?p=6286#comment-12461 Okay great yes I use Wealthsimple already for my own contributions, Tfsa and RRSP. But my work does the rrsp matching and they were recommended. I’ll ask about switching to another institution. I will look into the prospectus.. Thank You

]]> By: Barry Choi https://www.moneywehave.com/why-i-became-serious-about-money/#comment-12459 Thu, 22 Jun 2017 20:22:19 +0000 https://www.moneywehave.com/?p=6286#comment-12459 In reply to Courtney B.

Hi Courtney,

With the RESP you would need to find out if there are any deferred sales charges (DSC) fees. You can either ask your advisor or look up the fund’s prospectus.

With your work funds, it’s the same thing. That being said, is your work offering some kind of match by investing via Investor’s group?

In both cases you want to look into the Management Expense Ratio (MER) of the funds you’re in. 2.5% is the average, but it’s considered quite high. If you plan on switching, you need to find a lower cost option that fits your investor profile. This can be easily done by yourself or by using a robo advisor.

https://help.wealthsimple.com/hc/en-us/articles/115004257448-How-do-I-transfer-an-existing-RESP-to-Wealthsimple-

]]> By: Courtney B https://www.moneywehave.com/why-i-became-serious-about-money/#comment-12458 Thu, 22 Jun 2017 20:10:57 +0000 https://www.moneywehave.com/?p=6286#comment-12458 I have some stuff through investors group. Any idea what fees there would be if I transfered out resps for my daughters and my RRSP through work

]]> By: Barry Choi https://www.moneywehave.com/why-i-became-serious-about-money/#comment-3204 Tue, 14 Jun 2016 21:21:04 +0000 https://www.moneywehave.com/?p=6286#comment-3204 In reply to Mike Ross.

Mike,

My exit agreement states that I’m not allowed to publicly discuss who I worked with. I can neither confirm nor deny your statement.

]]> By: Mike Ross https://www.moneywehave.com/why-i-became-serious-about-money/#comment-3203 Tue, 14 Jun 2016 21:15:08 +0000 https://www.moneywehave.com/?p=6286#comment-3203 So, obviously you were with IG.

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