self directed tfsa

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angrymime666

Well-known member
May 8, 2008
1,094
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hello gents, and some ladies,

I have lots of mutual funds in my rrsp, and I max out my contribution limit every year. I have a tfsa but only rainy day cash.

Im considering shifting my investing towards stocks, probably withing the tfsa, rrsp, and un sheltered.

Ive read the wealthy barber, internet babble and other info which Im not sure is as reliable as I would like. that being said, if anyone can recommend some reading material it would be helpful.

I have also been looking a canadian stock; specifically suncor, hydro one, some canadian banks.

I very new to the direct investing game, as Ive usually had professional help. I get cheesed when I think all the money I have paid in management fees.

thanks :)
 
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Denmae

Active member
Jan 30, 2013
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Mutual Funds have high management fees. Maybe look into ETFs.

Some great info on the following websites:

Mr Money Moustache (forum)
Canadian Money Forum
Bogleheads
 
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benhurley

New member
Jul 17, 2013
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east end
Not knowing your overall financial position, but considering you have maxed your RRSP. Park any excess cash in your TFSA. Hire a financial advisor in which you have confidence. For now invest in ETF's wait for a market correction and make your move. Avoid mutual funds. Slow and steady works. If you are under 50 time is your partner
 
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Brotherman

Active member
Jan 17, 2004
1,158
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Alphabet and Facebook are good buys. Mutual funds have a high MER ratio. The return on investment isn't that good since most of it tied to the S&P 500. Last year the market didn't return as much as previous years and it looks like a correction is envitable.

Markets have been very volitile due to uncertainly in oil, politics and China.

Right now isn't a good time to be investing in funds that are pegged to the index. Wait for a dip in the markets but it's a very scary time right now
 
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onceaday

New member
Sep 28, 2015
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The best advice I can give anyone is to take control of your own investments and understand what you are doing. Rule one is protect your capital. If you are a beginner ETF's are not a bad bet but make sure the price is right. For example, I mentioned on another thread that CDN banks are indeed generally solid but are pricey at this time, so wait for a solid dip (like we had in Jan/Feb) and load up, don't be afraid to dump them all when you have a solid gain on your book and re-enter later. Be careful to manage ex-DIV dates. If you want to be a stock picker it takes a lot of time and trust me if you don't know what you are doing you will get eaten alive especially in the current market Although I do this professionally I do not manage OPM except for a couple of close friends. And I do still use a broker (flat fee .3% AUM) as well b/c that allows me better access to IPO's and bought deals as well as early put/call action. Also when I get stuck in a POS I can have a conversation with another Pro to avoid shooting myself in the foot when being on the wrong side of a trade. It happens. With respect to the above post I do not follow the couch potato philosophy however it may be worthwhile to understand his approach. And remember, if someone tells you they have a "sure" bet they normally don't. Do your own DD. Balance out (diversify) asset classes. Protect your capital. Buy best in class stocks on large dips use DRIPS whenever possible on long bets. G/L.

PS one thing I do tell folks, especially younger ones, is to max RRSP contributions and use tax refunds to populate TFSA's. Max them out!
 
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actionjay

New member
Nov 6, 2013
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Besides the "Wealthy Barber" and "the Intelligent Investor", I found "One up on Wall Street" by Peter Lynch a good read and employed it to buy canadian dividend paying stocks (inside) my TFSA of companies that I am familiar with, use their products and services everyday and understand their business model and financial statements (no 10X bangers at this time).
 
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Club Summerhill

New member
Jul 18, 2016
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I learned a lot from The Pig and The Python - An old book about how baby boomers affect the economy and the investment world.
 
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bigjutt

New member
Apr 19, 2007
15
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1
I been handling my own investment for about 6 years now both TFSA and regular investments with TD. I have both a Canadian and US account under TFSA. Mostly use the US account as there are more options in terms of investments in the USA. I would recommend following somr of the top stock analysts on twitter. They offer very good free advice on both the overall market and individual companies. Done much better in my self directed accounts vs. the mutual funds I have in my RRSPs. I have the US account so I don't get penalized for Exchange on each transaction.
 
barnacler

barnacler

Well-known member
May 13, 2013
1,480
863
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I think that you should be putting your riskiest investments in the TFSA, not the safest. If you put the safest investments (i.e. GICs) in a TFSA there is little benefit. Sure , interest income is taxed 100% as income, but so what, GIC rates are so low you are saving peanuts in taxes.

Put your growth assets in the TFSA and you don't share the gains with ANYONE, unlike RRSPs where the government is your silent partner.
 
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