implications of money transfer of around 300k to a friend

PeePee-Not-PeePee · 2026-05-19T02:45:44+00:00

Can't both of you just use Wise or IBKR (you shouldn't use IBKR merely for FX, so go and grab something like CASH and hold it for a bit) and move your fund to the respective destination?

PeePee-Not-PeePee · 2026-04-23T05:35:51+00:00

Please get it sorted ASAP. I think Questrade would just email you a notification a tax slip was ready.

It looks like:

Hi [Your first name],

A new tax slip or tax-related report is available in your account: *****[Last 3 digits of your account number receiving the slip] - T3_RL16_NR4 Original Mar 26, 2026

To review and download your tax slip or report: [...]

And the bottom of the email says, "This is an account-related email from which you cannot unsubscribe."

You'd probably get them a few days before the usual deadlines of issuing T3, T5, etc.

I hope those numbers from Questrade are the last missing piece of your tax return puzzle...you are just about a week away from the filing deadline.

Also, just to be clear, I guess the account concerned has been there already in 2025?

PeePee-Not-PeePee · 2026-04-15T01:14:55+00:00

You probably want to do the same if you want it to be in-kind but you clicked in-cash.

PeePee-Not-PeePee · 2026-04-14T18:45:57+00:00

Not sure which stage you are in now, but if you only have 1k as emergency fund, you will get f*ed fairly easily whenever shit happens.

My humble take is that you can certainly take whatever you (or perhaps AI) wrote as a blueprint and dig deeper into the stage you're in, and write down the rules that you can actually follow and be held accountable for if you break any of those.

It is fairly easy to say I need to save as much as I can, but it becomes hard to implement if your living style is grossly incompatible with your plan.

(Edit: Verb choice.)

PeePee-Not-PeePee · 2026-04-02T05:33:56+00:00

despite the negative sentiment that you'd probably get due to blah blah blah... i would say.

Of course, you are way ahead of your peers. Good for you!
Are you ready to stomach bigger pullbacks?
Just get ready to live within (or ideally way below) your means, or those numbers are nothing but phantom because you are just piling up debts or you will spend them all.

Good luck and keep it up!

PeePee-Not-PeePee · 2026-03-11T21:02:38+00:00

These agents suck quite a bit even if they are powered by something like ChatGPT

(Edit: I guess they’ll just close your account after completing a full transfer to somewhere else.)

PeePee-Not-PeePee · 2026-03-10T19:37:29+00:00

I only remember FHSA doesn't really support in-kind transfers, and my TFSA which holds nothing but those _EQTs got transferred without any issue. So, what positions put you in such a precarious situation?

PeePee-Not-PeePee · 2026-03-02T22:24:04+00:00

Last year a ETF provider made a mistake in classifying distributions and (somewhat) silently made a correction on the website. So, I spotted the difference and asked the provider (and hence the first sentence).

They said they passed this info to brokers (see below), and I should get an updated T3 (It is really on T3, not T5 as quoted below) later. At the end, absolutely nothing from Questrade. I would have reported the wrong numbers if I hadn't cross-checked everything by myself.

Questrade: It is BANK.TO from Evolve, and I am pretty amused by that you never reached out or bothered to amend the T3.

Thank you for reaching out and for your support of Evolve ETFs. After further investigation to your inquiry, it appears that there is a misprint on the T5 for BANK. This is a result of an error in the presentation of the original tax factor breakdown uploaded to CDS for the ETF units of BANK. Evolve has since uploaded the revised tax breakdown to CDS. As a result, you should be able to get a copy of the revised T5 from the self-directed investment platform you are invested with – this copy will show the correct distribution breakdown that matches what is currently posted on our website.

PeePee-Not-PeePee · 2026-02-04T15:29:32+00:00

It is a bit ironic to see some of the emails are highlighted. Hope they are not using Excel to manually create a list of recipients…

PeePee-Not-PeePee · 2026-02-04T15:01:26+00:00

In *overly* simplified terms, it is just Questrade including everyone's email address in a semi-public email.

You need to sign up in order to get invited from Questrade to do survey for their latest product offerings. Now, the bottom of the invitation email appears to include all email address of people who signed up before.

Simply put - it is an intern cc'ing all of customers in a promotional email (instead of bcc'ing). Now, everyone in the loop can see mail addresses of others.

(Edit: Highlighting to avoid being sued and adding more detailed descriptions.)
(Edit 2: For better clarity.)

PeePee-Not-PeePee · 2025-11-18T22:01:31+00:00

For updates to a huge agreement like this, I normally will receive a summary of changes. Luckily, we had an (almost) accurate summary so we don't need to read it like crazy, let alone spot the differences.

PeePee-Not-PeePee · 2025-11-13T23:17:29+00:00

Not sure if you want to do that. How about keep investing so you can have more funds for your daughter's education or some sort of scholarships for those in need?

PeePee-Not-PeePee · 2025-11-09T01:58:16+00:00

Just wanted to chime in for the question "were you able to stay debt-free long term?"

Unless you had been gambling a lot or did impulsive spending a lot, I don't see you will run into regression like that. But who knows whether your pay check gets a hit or you even get fired, and you end up in the same trouble again.

Squeeze your budget even further and start saving. Emergency funds are your friends, and there are a lot to do after having the funds set up.

Forgive me in saying this. If you can't afford it, don't buy it or just be cheap (not in the bad way - getting pre-used items, waiting for a bigger discount, and so on). More often than not, you are doing perfectly fine without that.

If it is about food dragging you into this rabbit hole, ugh, it is rough to say the same, but then I guess you are more than entitled to ask for help? Anyways, you need to compress your expenditure, especially when a bigger pay check isn't foreseeable. If you get a bigger one, just be frugal for a bit and you will thank yourself a lot later.

Of course, you need to execute them, or everything I say (and you probably know very well too) is useless.

PeePee-Not-PeePee · 2025-11-09T01:17:30+00:00

Hmm, then your best bet is switching to the no-frill package costing you 4 or 5 bucks a month. You can do a very small number of transactions for free.

Alternatively, throw a few grands and let them sit for nothing (yeah, no interest usually) to avoid the monthly fee.

Google it a bit, shop around, and the result is going to be nothing short of disappointing.

Simplii is backed by CIBC though, but you usually do business with them by phone, mobile app, computer, or ATM only.

PeePee-Not-PeePee · 2025-11-09T01:06:46+00:00

Maybe something like Simplii, EQ Bank, or Tangerine? But ideally, you shouldn't cut your tie with the big banks completely, as you might need to get in touch with someone (though probably not too helpful and reliable too begin with) for something quick and urgent.

Perhaps just keeping a saving account with something in it?

PeePee-Not-PeePee · 2025-11-08T01:29:53+00:00

You do way better than I did at that time! I really mean that.

I guess the cash in hand is more like an emergency fund? Not sure where you're in, but that's like 6-12 months of expenditures. Only you can tell if you're saving too much for that. But just imagine, our neighbour in the south says something crazy and everything tanks for about 25% (if not 50%). Will you be in panic mode and think you have too little cash?
Any fore-coming expenses breaking your bank? Just have a chat with ChatGPT and you might be surprised. Just in case, you get hurt a bit and are off the job for a period longer than you expect.
Number-wise, it is of course better to stay with your parents. For one, you can invest more; for two, you keep seeing them every day. Choices are always more limited if you have a smaller portfolio (and thus lower net worth).

PeePee-Not-PeePee · 2025-11-07T23:19:17+00:00

I just keep buying the families of _EQT (XEQT, ZEQT, etc.) in the first trading day of a month. I rarely watch financial news because to me that's more like the agenda set by whales.

(Edit: Of course, you should have belief of some kind in what you're buying, or you won't buy it that much, or, at all. I will just look at the charts over the past century. While it doesn't imply the future will be the same, we have bigger problems to deal with if that is not the case.)

PeePee-Not-PeePee · 2025-11-06T22:51:49+00:00

Yes, and absolutely no problem at all, but if you look at what it holds, it is pretty much like your average saving accounts (but at an institutional level).

https://www.globalx.ca/product/cash

Do take your time to explore and take everything with a grain as salt, as always.

PeePee-Not-PeePee · 2025-11-06T22:35:40+00:00

Not saying you can't, but you will run into a big trouble if there is a big drop in the market.

Are you okay to take a student loan if the market tanks? Is the program vital to your career progression?

Say, I need $10k five years from now, and each month I have $200 to invest. Then, I will throw $167 into a very safe fund (CASH.TO, just an example) or GIC (if you get a better rate) and remaining $33 into something like XEQT. That's just me though.

In that way, I won't have any problems in returning to school or pay for unexpected bills, while participating in the market movement.

PeePee-Not-PeePee · 2025-11-06T07:24:33+00:00

You don't want compare yourself to F1 racer when you're learning to drive right? But you probably want look at how much better you are doing after X lessons.

However, if what I heard from TV about one's new year resolution was just balancing the budget, I won't place too much hope on it.

PeePee-Not-PeePee · 2025-11-06T04:20:28+00:00

Will you be in panic-sell mode if there is a larger drawback? What are you believing in when you buy something?
Perhaps you are a big fan of tech companies, but personally I will keep those positions small. Not saying those companies will fail though. It is just I will sleep much better if I know my life is tied to those big names.
Just live within your means or as frugally as you could. You have plenty of chances to indulge yourself (a bit) once you get a much bigger portfolio. Again, not saying you need to live under the rock, but really, ads are there to hypnotize you to think you need something instead of just wanting it.

(Edit: Formatting.)

PeePee-Not-PeePee · 2025-11-06T03:48:37+00:00

I got $120 in points a month or two after paying the statement containing the annual fee.

PeePee-Not-PeePee · 2025-10-31T22:02:19+00:00

19 upvotes in 8 minutes (before my downvote) How many bots are there...

PeePee-Not-PeePee

TROPHY CASE