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/biz/ - Business & Finance

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19305139 No.19305139 [Reply] [Original]

Hey /biz/ looking for some actual advice here.

I'm Canadian, I have $60K in cash that I don't know what to do with. Currently 10K is on Questrade in cash in TFSA, another 20K is in Wealth Simple Trade in cash in a TFSA. The last 30K will be coming shortly via an HSt rebate cheque that was mailed last week. Current financial situation:

-early 30s
-stable engineering position making low 6 figures
-partner is making similar money but in contract, hopefully getting a full time position
-partner is in debt to me for about $30k, currently paying it off
-I have a personal mortgage of about 350K
-my TFSA is maxed
-I have an RRSP with 6 figures but have contribution room
-I have rental properties and buying another but I don't need cash, using equity from other properties.
- I already have invested 30K in crypto and put $200/month in (I rent a parking spot out for cash and use that to buy)

The extent of my market experience had been choosing a fund at Sunlife and TD go my RRSP and TFSA. I'm trying to take the leap into ETFs but don't know wtf to do with the market right now and don't know if I should be yoloing in now or waiting for second drop. Or say fuck it and pay down personal mortgage instead.

I know I'm an idiot, troll away, but I'm actually serious and would appreciate some honest responses. Happy to answer any questions and show proof if needed.

>> No.19305162
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19305162

How many combs do you own?

>> No.19305198

>>19305139
>jew detected

>> No.19305271

>>19305162

BTC, eth, xrp, TRX, xlm, neo are my main holds.

>>19305198
Raised Christian my man.

>> No.19305290
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19305290

>>19305139
Hey budday, fellow leaf here.. you sound like you're right on track.

If i could offer some advice though, since you're already with TD.. make an apt with them (have to do it in person to sign stuff) to open a self directed investing account.. their index following ETFs are pretty great.. really low MER. I would say open a TFSA to trade with but you said you maxed yours out already.. there are worse problems to have I suppose. I throw money equally into the US, CAN, and emerging market index funds theyve got and then their canadian bond one too. I think the minimum contribution is 100 bucks and then you cant touch for 30 days without penalty. Doesn't pay transaction fees to contribute to these either, unlike stonks.

And yes.. pay down your mortgage on its anniversary date to whack down that principle.

Good work, leaf.

>> No.19305317

>>19305290
TDB902 and TDB911 are the US and International market indexes .. cant remember the codes for the leaf ones

>> No.19305388
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19305388

>>19305139
Here's the lot of them

>> No.19305423

Lame nerdfolio . dump all your assets into btc and eth thank me later

>> No.19305746

>>19305290
>>19305317

I have the 30K cash in the TFSA accounts now I can still invest. Is something like VGRO good to just lump sum 20k into now? Or should I be waiting for another drop? Or layer buy it? The 10K on questrade I would like to buy stocks with, I just dont know what yet. Enbridge, Air Canada, are two of my top choices so far.

My mortgage is 2.49% and matures July 2021, I can lump sum payments any time. Think it's worth dropping the 30K HST rebate onto the mortgage? Or invest that? Seems like there are huge potential gains to be had now if I invest a lot.

I had about 100k in RRSP in TDB981, that shit the bed though, but it's the current RRSP I contribute to so 8% of my pay is going in now. The rest of my RRSP and TFSA (about 200k total) are in sunlife from my old job in some random funds I don't even check. I just get letters from the investor dude, they are down too but not as much. Those are all in Canadian investments I think.

>> No.19305776

>>19305746
>enbridge
>air canada

ngmi

>> No.19305877

>>19305776

Enbridge is mostly gas, not oil and they have a nice dividend.

Air Canada has a huge cash reserve so it's safe for probably a year? If it doesn't go bankrupt it should bounce back pretty quickly once things go back to normal.
Thoughts?

>> No.19305881

I got my money in Tesla. Bought it @614 post dip. I don't know what it will do in the short term though