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Messages - Patrick

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Off topic / Re: So an interesting thing happened to me on Easy Equities...

« on: June 23, 2016, 10:14:32 am »

Just caught this now. Quite worrying, I wonder what would have happened if you never complained. I always thought the shares were registered in your actual name at the JSE, so regardless of what easy equities would show, you couldn't in reality lose anything...

They also made a mistake on my account quite early on. Dividends due to go into my TFSA actually went into my regular account. They sent me a mail saying it happened to a few people and would be reversed, but I still have R250 odd in my regular account, an account I have never made a deposit into.

I've had so many back and forward emails, but the money is still there...

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Off topic / Live chat

« on: June 23, 2016, 09:58:43 am »

That's pretty cool, thanks jaDEB.

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Off topic / Live chat

« on: June 22, 2016, 03:00:41 pm »

@indexer, I was looking at the UK site: http://www.tddirectinvesting.co.uk/rates-and-charges/ but fortunately it seems on the .com site all they list is 45 Euro per quarter. That isn't bad at all. I pity the poor Brits though. And of course any South African's using ABSA etc. I see Saxo also charges 0.12% custody fees. I'm still drawing up a will, and the instruction will be to transfer the holdings into a different account, and not to sell anything!

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Off topic / Live chat

« on: June 22, 2016, 12:44:43 pm »

@indexer, yes I looked into the estate duty which is why I'm buying an Irish domiciled fund. Cash is still and issue, but the risk of me selling more than $60k is very low. I need less than half that to live for a year. The risk of me selling $60k and then dying before I have a chance to re-invest is probably ludicrously low. I'll accept that risk, and avoid the guaranteed custodian fees with TD. Those fees would add up. At 0.3% per year someone with $500k would have to pay $1500 a year. If you anticipate that you'd withdraw 4% or $20k a year, at TD you'd only be able to draw $18.5k. That's basically a month's drawdown you give back to the broker.

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Off topic / Live chat

« on: June 22, 2016, 11:10:00 am »

@orca, thanks, I looked at them, but I found that for me it is far cheaper that I use Interactive Brokers. Their fees are very low, for the london exchange, where I buy VWRD, they charge just 0.08% or 1 pound minimum. Also there are no custodian fees which ABSA has. There is a minimum in fees of $10 a month, so if you don't do a trade in that month they will charge $10. This falls away once you reach $100 000 in holdings, so it's also a good account to buy and hold for the long term.

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Off topic / Re: Wanted - a detailed Retirement Calculator

« on: June 21, 2016, 05:56:01 pm »

One of the members has a very detailed one somewhere on the site. It had field for Ra, tfsa and regular investments. Will find it for you later.

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Off topic / Live chat

« on: June 21, 2016, 12:21:26 pm »

Hi Orca, is there something specific I should be looking at on the link?

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Off topic / Live chat

« on: June 21, 2016, 09:49:20 am »

I think I'm going to take advantage of the R1m discretionary allowance soon if these rates stick...

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Off topic / Live chat

« on: June 20, 2016, 03:28:03 pm »

I see that, but the had an artificial peg to the currency, so not a standard drop. I imagine we'd see something similar if we unpegged swaziland's currency from ours.

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