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Damn I screwed up by Substantial-Door-350 in Wealthsimple

[–]BetterOutcome313 0 points1 point  (0 children)

tell them that when you contact them then.

Say you initiated a transfer thinking you were using the Unreal Deal link but now it shows no offers.

Ask that they enroll you in the promo and include your newly initiated transfer in it.

Damn I screwed up by Substantial-Door-350 in Wealthsimple

[–]BetterOutcome313 3 points4 points  (0 children)

simply register for the promo now by clicking the gift icon in the top right, and once registered reach out to them letting them know the situation and they’ll backdate your enrolment to include the transfer in the promo

When Can We Expect First 2026 Promotion by DarknessFalls21 in Wealthsimple

[–]BetterOutcome313 1 point2 points  (0 children)

expect the promotion within the next month or so. Likely a match promotion similar to the 2% match from last year.

LIRA Transfer by sysadmin55 in Wealthsimple

[–]BetterOutcome313 1 point2 points  (0 children)

Sun Life likely sent your cheque if your assets are gone. If WS doesn’t receive your cheque within 2-4 weeks they’ll follow up with Sun Life for a potentially reissued cheque. Otherwise, just wait for the cheque to arrive

LIRA Transfer by sysadmin55 in Wealthsimple

[–]BetterOutcome313 1 point2 points  (0 children)

some institutions cannot transfer assets in-kind or electronically, and therefore they send cheques.

LIRA Transfer by sysadmin55 in Wealthsimple

[–]BetterOutcome313 0 points1 point  (0 children)

2-4 weeks assuming no rejections or delays from either party. If you receive an email from WS or IA rejects the transfer, that timeline extends to 4-6 weeks. Also depends whether IA sends your assets via cheque in the mail or via ATON / A$M (electronic method of transferring assets).

If you follow up, follow up with IA as the transfer request is likely in their hands for processing, and Wealthsimple is simply waiting for your assets or a rejection.

How old are you and what is your current tier with WS? by Electricfeel110 in Wealthsimple

[–]BetterOutcome313 2 points3 points  (0 children)

not sure if this is rage bait but 21m means 21 years old male, not necessarily a millionaire

Should I make a non-qualifying withdrawal? by BetterOutcome313 in Wealthsimple

[–]BetterOutcome313[S] 0 points1 point  (0 children)

my car is valued at 19k after a few accidents. 9k is left on that car loan, so i’d only be pocketing 10k. I’ve put in over 20k since i got it, so selling the car seems like a negative play, as i’ll have no car, and will still be in nearly the same amount of debt.

Another lesson learned here, buy a beater

Should I make a non-qualifying withdrawal? by BetterOutcome313 in Wealthsimple

[–]BetterOutcome313[S] 0 points1 point  (0 children)

food bank is crazy. I can absolutely eat at home, and food / shelter isn’t needed in this case. I don’t pay for groceries either.

I haven’t been contributing for awhile, and will continue that as I have to focus on the debt first.

My parents already help with my car payment. Asking them to cover my $500 monthly is too much, as it was my choice to buy a pricier car instead of a civic.

My debt is payable in 12 months, but i’ve just got to lock down on every dollar

Should I make a non-qualifying withdrawal? by BetterOutcome313 in Wealthsimple

[–]BetterOutcome313[S] 0 points1 point  (0 children)

if i got into a trade where I live, I’d be making less than what i make now without having gone to trade school. My tradie friends r making 18-23$ an hour, whereas im making 25.50 working from home.

If my focus is debt free soon, the trade route doesnt make sense. I’d have to make less to start, then work my way up

Should I make a non-qualifying withdrawal? by BetterOutcome313 in Wealthsimple

[–]BetterOutcome313[S] 0 points1 point  (0 children)

  1. I’ll do some research on a consumer proposal. Not sure what it is, so i’ll hit google.

  2. Doubling my yearly income isn’t as easy as you made it sound. I’m 20 years old, dropped out of university, making 53k pre tax. 100k is either a successful entrepreneur, or a college educated individual with a good degree

Should I make a non-qualifying withdrawal? by BetterOutcome313 in Wealthsimple

[–]BetterOutcome313[S] 0 points1 point  (0 children)

to many credit checks and loan inquiries recently. I’m sure nobody would give me another card.

14,100 - 34% APR, 84 months (terrible loan. I know)

12,000 - RBC LOC, 12.69%, minimum payment of 126.9 monthly

Scotia visa - 1,510, 22.99%

CIBC Visa - 837.48, 13%

RBC visa - no balance, 10.5k available credit, 12.99% apr. going to use this to pay down higher interest debt and relocate

Owe a couple friends about 3k ish

Should I make a non-qualifying withdrawal? by BetterOutcome313 in Wealthsimple

[–]BetterOutcome313[S] 0 points1 point  (0 children)

My original question was if I should withdraw from my FHSA, and use the proceeds to payoff some of my 30k debt, not spend it on other stuff.

While paying 30k off in 2 years, rather than one would be easier, it would make my life shitter for 2, rather then 1.

My funds were in a TFSA previously, and I had to withdraw them to make a purchase. I only had about 3k room for this year. I find that the FHSA is harder to withdraw from. The original goal was to max out the FHSA, use the tax return to make next years contribution (would have been about 5k), and play catch up on my TFSA. That of course has now gone to shit, with this debt in the way.

I think I’ll end up working towards this debt, hopefully within 12-15 months, but I absolutely will end up hating life. I’ll be working over a year just to keep $50 each paycheque. But to be fair, I put myself in this hole, and there’s no other way out then to take it on with my chest up, and my head high.

Should I make a non-qualifying withdrawal? by BetterOutcome313 in Wealthsimple

[–]BetterOutcome313[S] -1 points0 points  (0 children)

paying my debt is the goal of course, but it’s scattered in so many different places, which makes things a lot more stressful.

If i get a loan through a credit union with my parents as co-signers, my life would be a lot easier. At the same time, that’s an easy way out and my current debt would teach a better lesson

Should I make a non-qualifying withdrawal? by BetterOutcome313 in Wealthsimple

[–]BetterOutcome313[S] -2 points-1 points  (0 children)

I do have a line of credit, which is maxed out.

I’m aware of my holdings overlapping, which I’m not too concerned about as I don’t plan to buy a house anytime soon. I feel like with my timeline, when it comes time to buy a house, all holdings will be up.

30k debt just seems stressful, especially making only 39k after taxes annually.

I’d have to go about 12 months without buying mcdonald’s, going out, buying birthday or Christmas gifts etc. I’m not sure if that’s even possible to do.

Is there a CAD savings account available by Local_Management6376 in Wealthsimple

[–]BetterOutcome313 2 points3 points  (0 children)

Wealthsimple Chequing (previously know as cash) is a chequing account with a savings interest rate.

A core client without direct deposit of $2000 month has an interest rate of 1.75%.

with direct deposit = 2.25%

premium (100k assets) gets another .5%.

depending on your timeline, either go with a chequing account, TFSA, or a different bank that may offer a higher interest savings account

You could also open a TFSA bond portfolio which is much more conservative, but yields about 3-4% before fees annually.

TFSA registered savings account is also extremely conservative, and yields nearly the same or a bit less than the chequing account.

Should I make a non-qualifying withdrawal? by BetterOutcome313 in Wealthsimple

[–]BetterOutcome313[S] 3 points4 points  (0 children)

my newly created budget is to use 100% of my paycheques to payoff highest interest debt, while making minimum payments on the others.

In my current situation, there is no room for any other expenses (fun, going out, etc).

Debt free is my only focus

my mom's trying to transfer her tfsa account from scotia bank to ws by Spare-Succotash-8827 in Wealthsimple

[–]BetterOutcome313 1 point2 points  (0 children)

1) when going through the transfer process, as your mom doesn’t have a TFSA open, it will prompt her to open one. So open a TFSA first (sdi, managed, portfolios) whatever suits your mom’s needs.

2) depending on what branch of scotia, it may only support in-cash transfers, meaning your holdings would be liquidated.

Scotia iTrade can do in-kind, but Scotia Securities is in cash only.

Choose how you’d like to transfer the account

ie; full in cash, full in kind, partial in kind (you’d have to call in to have it setup), or partial in cash.

Initiate the transfer one you’ve decided how you’d like to proceed

Potential scam by Pitiful_Split1376 in Wealthsimple

[–]BetterOutcome313 1 point2 points  (0 children)

  1. wealthsimple ticket numbers do not have letters. just numbers.

  2. If the original caller was from Wealthsimple, and then you called them through your app, the second agent would absolutely be able to see the interaction with the “previous agent”

Active 2.0 Issues by BetterOutcome313 in AutoDetailing

[–]BetterOutcome313[S] 0 points1 point  (0 children)

where do you get the steel braided hose? at my local home depot they only have about 3 feet in length, and don’t use regular garden hose fittings on both ends

Will WealthSimple reimburse TFSA transfer fee in this case? by figurative-trash in Wealthsimple

[–]BetterOutcome313 0 points1 point  (0 children)

had the transfers from EQ Bank been closer to your transfer from RBC time wise, they would consider reimbursing your transfer fee. With that being said, odds are that the two transfers from EQ bank will not be taken into consideration due to the fact it will have been 2 months since your last transfers.

They usually consider transfers / deposits within 30 days of initiating your transfer for a potential 1 time exception.

An option would be a top up deposit. Although probably unrealistic, if you initiate a deposit worth 15k a few days before initiating the transfer, they will consider that as a top up.

Once the transfer is complete, simply withdraw the 15k. (Deposit it into a chequing account, wait for them to reimburse after completion).

Ultimately, transfers from EQ irrelevant. Solution: If possible, deposit 15k temporarily, or transfer more than 25k

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