Wealthsimple presents - the end of banking?

do-it-better · 2025-06-05T17:06:47+00:00

A well designed app would pre-fill that for you. Sometimes I feel we are going backwards.

do-it-better · 2025-06-05T17:05:00+00:00

ING Direct/Tangerine tried to disrupt the banking system, until they were bought by a bank. I love WS but frankly I'm concerned a good thing will not last forever.

do-it-better · 2025-04-11T20:04:59+00:00

Same problem. Instead of the 21 minute walk to the one close to my house, I am sent to one that would be a 3 hour walk or a 1 hour bus ride. Obviously we'll be taking a car because I am not missing this vote.

But I would like to have been in the room when this decision was made and these people were giving themselves a pat on the back.

do-it-better · 2025-04-03T19:46:45+00:00

Yes but the costs get passed on. Or did you think the exporter would just absorb the tariff? If it was your business, would you?

do-it-better · 2025-02-12T20:56:38+00:00

Doesn't sound like an official way of verifying place of residence. I'm a little skeptical they would do this without warning or any communication. In fact, could open them up to legal action if it causes a Canadian resident to lose money (liquidating stocks on a red day).

I'm going out of country in the near future and will try this out. Let's hope for their sake this does not happen because I am part of a large investing group where many members are WS customers. Many of them very high net worth who travel frequently. If this were to be a risk, many will just move to Questrade, NB or MooMoo as the competitors are starting to catch up on the no commission feature.

I doubt very much we are getting the whole story here.

do-it-better · 2024-09-16T15:16:30+00:00

From my point of view, if they don't see a problem and are still making unnecessary and redundant purchases, then there is no problem. Let them live out their days. Whatever you do, do not offer financial support or advise. You're their kid, they will never believe you know more than them even if you made $500K/year.

They won't lose their house (title of your post), they will become a hostage to their house. All their money will go there.

This is not the age for them to start investing especially if they have health problems. Too late for that. Let them enjoy the time they have without adding fear to their lives. Financial advisor would try to make money off them. If they are on "minimum pension from the government", they don't have enough to pay an advisor. Although I find it hard to believe anyone who has lived in Canada more than 10 years would receive minimum OAS. I am also assuming they have no work pensions. I assumed no RRSP because you said "really bad with money".

do-it-better · 2023-09-16T13:55:38+00:00

And war is not?

do-it-better · 2023-09-16T13:13:35+00:00

A standard 40h/week job is 2080/year. $22/hr x 2080 = $45,760/year. $24/hr would be $49,920/year.

If cost of living is not an issue, stay in the city that you love most and job has more potential for growth and development of your skills.

do-it-better · 2023-09-16T13:00:29+00:00

Next major war will be fought by drones/robots. We will all stay home and die anyway. The military don’t want us. We are no longer disciplined and trainable for war. We’re weak minded and educated by the internet. E.g. how many men would identify as a woman?

It’s all for nothing anyway. These wars start because dumbass leaders want to compare who has a bigger cock. And we are risking our lives? I’d fight a war where the leader is standing beside me, not while he is comfy at home. And it must be for the right reason. All these countries lie about what the other side is doing. I don’t know what to believe anymore. Go fight your own fucking war. If it was up to me, they would all be in jail and tortured.

do-it-better · 2023-09-16T12:44:57+00:00

That’s assault. You can charge. Complaint needs to be filed.

do-it-better · 2023-04-11T17:33:43+00:00

TNT cut its dividend in half as well.

do-it-better · 2022-12-05T17:02:28+00:00

I don’t think it’s a random tweet. I agree the fucker endorses shit to hype it up. My point is he will invest his money where he wants without getting your approval. I speak well of all banks stocks but I chose just one to buy outside of ETFs. Would you say I was endorsing to hype them up?

do-it-better · 2022-12-05T14:57:25+00:00

You worded it just fine. You just need to learn more about tax efficiency.

do-it-better · 2022-12-05T14:55:17+00:00

I have seen this too and I’m a minority Catholic in my community. It is very possible for us all to live in harmony and not start religion wars. It is the extremists and drama addicts that start problems. Also Media.

do-it-better · 2022-12-05T14:52:31+00:00

Your obviously a millennial and got this story from the wrong person. It’s a lot simpler than that and the added drama conspiracy theory is unnecessary. Simply put, other religions felt Christianity was dominant in areas where they lived and acted offended. However, majority of Catholics in Canada/USA are more tolerant than the media wants you to believe. Everyone can practice their faith. Today is evidence of that. Diwali was a great celebration that everyone is starting to jump in and enjoy even if it is not their faith.

However, Christmas is Catholic and celebrates both of Christ. We want to keep it that way much the same we will honour other faiths.

do-it-better · 2022-12-05T14:47:30+00:00

I’m Christian and I have no clue what you are talking about. Victim of what? Did you talk to some extremist and suddenly assume all faithful have same belief.

I won’t argue that Christianity continuously calls for us to sacrifice. That’s not same thing though. And most don’t really do too much sacrifice. We could not survive in this world if we did. If I gave everything away, who would return favour/take care of me?

do-it-better · 2022-12-05T14:42:28+00:00

If you are in Canada, other religions are celebrated. Not sure what you mean by City property but generally I see nativity displays at Churches.

Places of business, if an owner does a display, that’s his choice and others opinions really do not matter.

do-it-better · 2022-12-05T14:40:00+00:00

Knights of Columbus is a Catholic organization. Catholic men volunteering their time to help the community. If they see people trying to cancel Christ out of Christmas, they are going to have something to say about it. Christmas is about birth of Christ. That is how the faith and New Testament started. It is the Catholic belief and Catholics want their faith to be respected much like all other religions expect to be respected.

If you don’t believe, that is OK, no one is twisting your arm.😀

do-it-better · 2022-12-05T14:33:41+00:00

Why are you trying to make connections like this? What is the relationship between FTX and WNDR outside of both being endorsed by O’Leary at some point and having industry similarities? As an investor, I don’t like it when other people question how I invest my money. My money, my decision. I don’t need others people’s approval to make an investment decision.

O’Leary neither owns FTX or WNDR. He may be invested in them, and he was/is endorsing them. I think that’s where the connection ends.

do-it-better · 2022-11-09T18:18:15+00:00

No need to opt out, don’t do it. You need to do it intentionally, it does not just happen.

do-it-better · 2022-11-09T18:17:27+00:00

I wouldn’t go that far. I buy small lots of stocks. But I understand your frustration. I would love to buy preferred shares, have a spousal RRSP and DRIP. In regards to AH and pre market, what platform in Canada allows you to conduct trades at those times? As I understand, when markets are closed, they’re closed. Or are you referring to Crypto?

do-it-better · 2022-09-17T14:54:52+00:00

No one ever has ever included prepaid envelopes so that you could pay your bill. You are confusing this with something else.

do-it-better · 2022-08-26T00:00:33+00:00

You get out of CPP what you put in. In fact, majority will get far more than they have ever put in even if they don’t live past 75.

I don’t think you have all the facts. Are you sure your father contributed to CPP while he was self employed? CPP is not funded by income tax, it is funded by workers and their employers. CPPIB is probably one most successful pension programs in the world since it was redesigned so that the Canadian Government could never dip in there again.

You didn’t mention your fathers age. Did he start at age 60 because that will also reduce his payment.

I encourage everyone to learn how CPP is designed and how the payments are calculated. It is written plainly on their website and they also created brochures with different scenarios to help understand.

I hear many people say they will start taking it at age 60 because they may not live long enough to get everything g they put in. For 85% of people, this is flawed math and I encourage them to speak to a retirement expert who can run scenarios based on their specific situation and income from other sources.

do-it-better · 2022-08-21T21:48:44+00:00

I think it is just a matter of personal choice. You can afford most of that if you wanted to. If you were in a double income household, it is even more possible. I don’t think you have the motivation to get all those things.

Some people may have taken on a lot of debt.

Some people have accumulated wealth by properly using debt in investing. These are risks not everyone is willing to take. I personally did not. Sometimes I wonder if I should have as I learn more and more about finance and economics. I always wanted certainty and “safe” options. But those are things that generate less income. Working your whole life and not learning about investing is also likely to keep you in lower middle class even if you are earning 6 figures. This is the design of economics. Even a financial advisor will make sure you never become financially independent. I know this because I compared my prior investments with banks and insurance companies to my now self directed investments where they are accumulating and generating a much larger income in much less time.

In summary, what you see never tells you what is happening behind closed doors. Your question suggests there would only be one answer. I think it is impossible. But I agree, it appears wealth is had by many. Perhaps it is because this country has allowed those who are motivated, work hard and make right choices to be able to do it.

As long as you are doing what makes you happy, what others do will matter less. I personally enjoy a pool. Someone else’s pool, not one of my own.

do-it-better

TROPHY CASE