Skip to content

Helping Canadians with Personal Finance Since 2006

Money when New to Canada, Adding REITs to Your Portfolio, Smith Manoeuvre with Cottages and More!

Freebie of the Month

If you are a reader of MDJ, you will know that I’m a fan of Questrade discount brokerage. I opened an account with them when they first started in Canada, and continue to open accounts with Questrade – in fact, I’m just about to open a spousal RRSP to help with income splitting during retirement.

Some of the highlights include:

  • Low commission for trades ($4.95);
  • No commission when buying ETFs, only when selling (perfect for long-term index investors);
  • Little or no maintenance fees – Only charge inactivity fees if balance under $5k; and,
  • Easy to use interface.

Not only has it been voted MDJ’s favorite discount brokerage, but it has also been voted as #1 by major Canadian publications.  As a bonus, new accounts can get a $50 trading credit.  Check out my full review here along with a coupon code for $50.

Monday Money Links

With my parents immigrating to Canada many years ago, one topic I haven’t written about is personal finance for newcomers to Canada.  Maria Weyman, one of the owners of Credit Card Genius, has a very detailed post about getting your finances in order if you are new to Canada.  Check it out!

As you may know, I’m a big advocate of index investing for both beginner and experienced investors alike.  I typically write about holding varying percentages of Canadian equity, US equity, International equity, and bonds.  However, I haven’t written a lot about holding real estate investment trusts (REITs) in a portfolio.  I hold REITs in my TFSA, although a fairly small portion of my overall portfolio.  Dale from Cut the Crap Investing, details adding Canadian and International REIT ETFs to your portfolio.   

On the same topic of index investing, the most challenging part is simply getting started.  It gets much easier once you get the train rolling and compounding.  Mark from My Own Advisor has a detailed article for investors that are just starting out.

In the early days of MDJ, I wrote a lot about the Smith Manoeuvre which is a leveraged investment strategy made popular by Fraser Smith.  In fact, I implemented this strategy in 2008, and still collecting dividends from this portfolio to this day.  To expand on this strategy, I guest posted on Boomer and Echo on using the Smith Manoeuvre On cottages and investment properties.

Recently, I wrote about RESPs, specifically, how to eliminate volatility and maximize returns when children start post-secondary education.  However, that’s more for parents at the end of their RESP journey.  Gen Y Money does a great job in this article for new parents just starting their RESP journey.

If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).

8 Comments

  1. GYM on July 22, 2019 at 12:16 pm

    thanks for the mention FT! Hope you have a great week and are enjoying the summer so far!

    • FT on July 22, 2019 at 1:35 pm

      Summer has barely started in NL, but thanks anyways. :)

  2. Robb Engen on July 22, 2019 at 3:38 pm

    Thanks so much for guest posting while I was away on holidays! The SM continues to be a popular topic so I’m glad you were able to expand on the strategy.

    Cheers!
    Robb

    • FT on July 23, 2019 at 11:27 am

      Happy to help Robb! Hope you had a fun adventure!

  3. Kari on July 29, 2019 at 12:42 pm

    This is the 3rd place I’ve heard of the Smith Manoeuvre this month! I think I need to learn more about this…

    • FT on July 29, 2019 at 7:50 pm

      Let me know if you have any questions!

  4. Wendy on August 9, 2019 at 5:37 pm

    Do you like WealthSimple Trade account? you pay no fee for trading!

    • FT on August 11, 2019 at 8:52 pm

      Thanks Wendy, I have heard of this, but have not looked into it. Maybe a subject for a future post!

Leave a Comment





This site uses Akismet to reduce spam. Learn how your comment data is processed.

1 Shares
Tweet
Share
Pin
Email