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Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 15, 2019, 02:33:45 pm »
Thanks GCR - sounds like a very sensible move!
Best, Fin
Best, Fin
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Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 15, 2019, 10:24:20 am »What do you think of Tyme bank? Or are you still a big Capitec fan?My emergency fund is now in Tyme, purely for the up to 9%-10% interest with near instant availability. I'm keeping Capitec because I travel so often, so converting currencies at spot value is worth it's weight in gold to me!
It's also useful when shopping from overseas sites as you get the real rand/dollar exchange there too rather than the usual rand+2.75% currency conversion fee.
Thanks Patrick. I'll take a closer look at Tyme.
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Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 15, 2019, 10:22:27 am »
GCR: "I could caution you on RA's but I think it is probably too late - when I retired at 58 I drew down my RA's rapidly via living annuities and move all away from Old Mutual - where I am getting better returns on the single LA that I have".
Thanks for the suggested approach, GCR. I fully expect a battle, but feel better equipped ;} Two questions for clarification: was it a deliberate strategy to draw down your RAs rapidly post retirement? Did you move everything away from, or to, OM? I wasn't quite clear on this bit. My reason for asking is I'm weighing up what to do with one of my RAs which matures earlier than the others.
Thanks for the suggested approach, GCR. I fully expect a battle, but feel better equipped ;} Two questions for clarification: was it a deliberate strategy to draw down your RAs rapidly post retirement? Did you move everything away from, or to, OM? I wasn't quite clear on this bit. My reason for asking is I'm weighing up what to do with one of my RAs which matures earlier than the others.
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Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 14, 2019, 10:33:10 am »
Thanks GCR - that is exactly what I am going to do. No doubt there will be all sorts of convoluted "explanations", but if I'm not satisfied, "heigh ho, heigh ho, off to the ombudsman I go"...
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Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 14, 2019, 10:30:32 am »
Thanks Patrick - I am a huge fan of your blogs and your steady approach to investing. I'm going to do the same with the Satrix MSCI. Yup, there really does need to be more policing of the financial advice sector. But I guess "caveat emptor" applies. I just wish I'd woken up years ago. Anyway, a major course correction is in place in my household. In addition to investing monthly, I'm going to see just how much we can save from "low hanging fruit" like bank charges. What do you think of Tyme bank? Or are you still a big Capitec fan?
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Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 13, 2019, 02:25:22 pm »
Two percent. And then on top of that are the costs of the various provider platforms that our RAs are housed in. Don't even get me started on what the broker fees are on my husband's mandatory school pension plan. Close to 8 percent.
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Shares / Re: TFSA ETFs: what to do from 55-65?
« on: March 13, 2019, 10:41:29 am »
Thanks very much for the sound advice and cautions, GCR. I've worked out what we need on a monthly basis using the 300 Rule and have also been following a number of personal finance sites, including Simon Brown's Just One Lap, for a while. He gave an interesting talk a while ago on investing in ETFs within the framework of a TFSA. I definitely have a lot more reading and studying to do to find the best option/s. We own our own property and have rental income coming in, but we need to diversify our assets. We do already have a financial advisor, but quite frankly, the fees are nibbling away at our nest egg. BTW, I have no intention of retiring at 65 myself, but my husband has to retire from his fulltime teaching job (Dept. of Education policy). Thanks again.
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Shares / TFSA ETFs: what to do from 55-65?
« on: March 12, 2019, 04:13:13 pm »
Greetings all,
I'm new to this forum and to investing. Unfortunately I wish I could say that I am new to the workforce. I'd certainly have done a few things differently from a financial literacy and planning point of view. I'm now in my mid fifties and am pretty bleak that TFSAs weren't around when I started my first job. My husband and I have invested in traditional RAs from the start (through a broker - groan when I think of all those 1-2% charges we've paid down the years). We've always been frugal, but with two kids to raise and educate, on a teacher's salary (SGB, so minus many of the perks that government employees get), there is a limit to what we've been able to put away for our retirement. I've done the numbers, using the formulae I've found on this site (thanks Patrick) and suffice it to say that we are probably only a third of the way towards what we need. Our focus now is to do all we can to improve our situation.
So, I've signed up on the Satrix and Easy Equity platforms and am ready to invest in my first TFSA ETF. Given the short timeframe to retirement (8 years), what advice would you give re. selection/blend of ETFs? I'd really appreciate any advice y'all could give me. Thank you!
I'm new to this forum and to investing. Unfortunately I wish I could say that I am new to the workforce. I'd certainly have done a few things differently from a financial literacy and planning point of view. I'm now in my mid fifties and am pretty bleak that TFSAs weren't around when I started my first job. My husband and I have invested in traditional RAs from the start (through a broker - groan when I think of all those 1-2% charges we've paid down the years). We've always been frugal, but with two kids to raise and educate, on a teacher's salary (SGB, so minus many of the perks that government employees get), there is a limit to what we've been able to put away for our retirement. I've done the numbers, using the formulae I've found on this site (thanks Patrick) and suffice it to say that we are probably only a third of the way towards what we need. Our focus now is to do all we can to improve our situation.
So, I've signed up on the Satrix and Easy Equity platforms and am ready to invest in my first TFSA ETF. Given the short timeframe to retirement (8 years), what advice would you give re. selection/blend of ETFs? I'd really appreciate any advice y'all could give me. Thank you!
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Greetings all. I'm a total newbie to investing and stumbled across this site after reading one of Stealthy Wealth's posts. I've found it to be invaluable. I have some serious catching up to do - no retiring early for me! Looking forward to learning from this forum.
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