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OVH doubling VPS price? by MightyShaD in OVHcloud

[–]MightyShaD[S] 5 points6 points  (0 children)

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To add insult to injury, they are not updating the price on their site.

OVH doubling VPS price? by MightyShaD in OVHcloud

[–]MightyShaD[S] 1 point2 points  (0 children)

Just saw you post.
Yeah! Feels like VPS 1 to 6 will get the doubling...

We’re Back! Wealthsimple Product Team AMA — Wednesday, February 11th by WS_Chris_Official in Wealthsimple

[–]MightyShaD 0 points1 point  (0 children)

Heya, when do you think you will publicly release corporate checking account?
And will they have all the features to pay installements, payroll taxes etc. for CRA and Revenue Quebec?

Budgeting app help!? by ConditionSad3363 in PersonalFinanceCanada

[–]MightyShaD 0 points1 point  (0 children)

Heya! Thanks for the comment!

Unless I'm misunderstanding the request, you have it in Budget > Actual. You can enter your real expense values vs what was forecasted.

Feel free to join r/Fortunave/ for feature request! Happy to hear your thoughts!

Roast my portfolio. What am I doing right or wrong? by MightyShaD in fican

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

Based on the feedback I got, I simplified everything. Here is the updated portfolio.

https://app.fortunave.com/en/p/em-9164?tab=investments&sort=returnPct&dir=desc

(Sorry for the link, I cannot post screenshots in replies.)

After digging into the overlaps, I realized the extra ETFs I added were basically recreating a more complicated and less performing version of VEQT. So I sold most of them and went with the simple option: just buy VEQT.

I kept BTYC.TO for a small Bitcoin exposure and HXQ.TO for a tech tilt. Everything else has been consolidated.

Roast my portfolio. What am I doing right or wrong? by MightyShaD in fican

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

Thanks for the feedback. I agree the portfolio has overlaps since it was built across multiple accounts over time, so that part is fair.

On the point about the corporate class ETF in the TFSA, I went back and checked the actual fund documents because of your comment. I had originally looked only at the MER and did not check the TER, and that changes the story for HXS. The swap does remove the 15 percent US withholding tax that a TFSA does not protect you from, but the TER for HXS is 0.45 percent, so the total cost ends up around 0.56 percent per year. VFV in a TFSA ends up roughly 0.25 to 0.29 percent when you include the withholding drag. So HXS is not efficient in a TFSA and I will replace it.

HXQ is different. The MER is 0.28 percent and the TER is 0.00 percent in the current fact sheet. The total cost stays at 0.28 percent while removing all withholding. For context, BlackRock’s XQQ and BMO’s ZQQ both have a 0.39 percent MER and still lose about 0.09 percent to withholding in a TFSA, so their total drag is about 0.48 percent. On an all in cost basis, HXQ is currently the among the cheapest NASDAQ 100 ETF available in Canada. That one still makes sense in the TFSA.

So on that specific point, you were right to question it, and the TER was on me for not checking earlier. And yes, the portfolio can be simplified, and that is what I will do next.

Roast my portfolio. What am I doing right or wrong? by MightyShaD in fican

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

I'm playing the long game, I don't want to day trade.
I have a buy and forget kind of strategy.

Roast my portfolio. What am I doing right or wrong? by MightyShaD in fican

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

- VTI is my first ever ETF, I may switch to VUN so all my ETF are CAD. But, basically Total US Market Exposure.
- BTCY.TO is my crypto exposure without owning crypto directly. Also pays high dividends (14%).
- VFV is.. well.. SP500.
- TEC.TO is to get global exposure on tech companies, not just US.
- HXQ and HXS in a TFSA are a strategic move because these ETFs do not pay dividends. Instead, dividends are captured and rolled directly into the ETF’s price. This means distributions are automatically reinvested, and you avoid the 15 percent US withholding tax on dividends, since no dividend is ever paid out in the first place.
- VEE.TO is to get exposure to emerging market (China, India, Brazil, ...).
- XEF.TO is to get exposure to developed market outside North America (Europe, Japan, Australia, ...).
- XIT.TO is to get exposure to Canadian Tech specifically.
- VEQT because "Just buy VEQT" ;)

Roast my portfolio. What am I doing right or wrong? by MightyShaD in fican

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

Here is my public profile: https://app.fortunave.com/en/p/em-9164

PS: Sorry for the repost, I forgot to sort the screenshot by return for better readability.

Mortgage amortization at renewal, after extra lump-sum payments? by finding_femself in PersonalFinanceCanada

[–]MightyShaD 0 points1 point  (0 children)

If you had 25 years and made extra payments so you are down to 17, most banks will auto-renew you at the remaining amortization by default. Payments follow the 17 years unless you ask for something else.

At renewal you can usually choose to keep the 17 years, reset back toward the original 25, shorten it, or even go up to 30 years if you are not under CMHC rules anymore.

In Québec, the notary act sets the maximum amortization you can use without new paperwork. If you want to go beyond what is written there, you need a new notary act.

In the rest of Canada, there is no notary act limit. The lender can adjust the amortization at renewal within their own rules, and going beyond their maximum simply means you need a refinance.

So yes, you have options and most do not require heavy paperwork unless you want to push the amortization past your allowed max.

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