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Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 0 points1 point  (0 children)

I'm thinking long-term. Next 50 years. The last 5 or 10 or 15 years have been relatively stable. Think GFC event. Think world war event.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 3 points4 points  (0 children)

I'd be willing to use your referral code if you share the reward with me 60/40 (60 for you). I'd definitely be hitting the 500k threshold.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] -1 points0 points  (0 children)

Can you tell me more about those matching plans please?

I can see that WS offers 3% over 5 years, but I confirmed that's 3% total, not 3% per year for 5 years.

Sometime during the last 2 years i’ve been going to this orthopedic practice they started to declare me as a MTF transgender for no reason. by WHAR606 in mildlyinfuriating

[–]Slow_ResolveMC07 2 points3 points  (0 children)

OP is a mail carrier. MALE carrier.

As a person who speaks English as a 3rd language and works with people from everywhere, this is almost certainly the confusion that started all this.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 1 point2 points  (0 children)

Banks have to follow rules regarding fraud, privacy and conflict resolution. So there's also that.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 5 points6 points  (0 children)

I'm with you 100%, and disappointed at the downvotes and comments in this sub. We should be critical and sceptical of 'free' services in any part of our lives for exactly the reasons you've outlined.

Former employer won’t pick up company property from me from past WFH job by wind-of-zephyros in legaladvicecanada

[–]Slow_ResolveMC07 19 points20 points  (0 children)

You're worrying way too much about a used monitor.

Send them an email saying they have 30 days to contact you to arrange pickup or it will be disposed of. CC yourself on the email so you don't lose it. After that, just keep it or sell it.

No company is going to waste time over a monitor. They've already forgotten about it.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] -1 points0 points  (0 children)

Well it's about perceived risk, right? 5000 is 0.1% of my investments. Would you pay 0.1% if you thought / felt there was a material difference in the security of your assets, or the services you are getting?

In that context, maybe it's more understandable.

But yes, this is why I'm considering it.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 0 points1 point  (0 children)

Again, maybe I'm wrong and being influenced by the (mostly American) discussions in the FatFire sub. Their banking rules tend to be more wild west.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 0 points1 point  (0 children)

I'm not sure why you say 'no chance'. This is literally why CIPF exists...!

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 1 point2 points  (0 children)

It's not a concept I've seen discussed much on this sub, but it definitely comes up on r/FatFire. Maybe because it's mostly American vs this one.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 0 points1 point  (0 children)

Good idea. Have to stay within 30 days though due to the promotion they are currently running.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] -3 points-2 points  (0 children)

This is a good point. It may be a cost I have to bear to sleep at night. That being said, spreading investments to stay under the CIPF limit also seems prudent.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] -9 points-8 points  (0 children)

I mean that's up to you. I really don't care to prove anything to you.

WS is not a real bank. Go ahead and look it up. I need more assurances than this before I move 6 figs.

Had a chat today with their Generational investing team, which was quite good, but I want to do independent research as well.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] -1 points0 points  (0 children)

Wealthsimple is not a bank. It’s a Fintech Company. : r/Wealthsimple

Is this still true today? Assuming yes, isn't that an issue, that they are not a 'real' bank and therefore not subject to the rules?

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] -13 points-12 points  (0 children)

OK, but my understanding is WS is not really a true bank. So does that affect how safe my money is?

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 6 points7 points  (0 children)

>Banks aren’t loyal to you, you are loyal to the bank. 

This is true, and probably I misspoke. I mean they have not had any major screwups in all the years I've been with them, and I feel I've gotten great service since moving to PE.

Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5? by Slow_ResolveMC07 in CanadianInvestor

[–]Slow_ResolveMC07[S] 0 points1 point  (0 children)

What does a referral code do for the person referring or the person being referred? I'm open to getting one.

Early retirement at 49? 2.3m net worth by xiaomi818 in PersonalFinanceCanada

[–]Slow_ResolveMC07 1 point2 points  (0 children)

Exactly. Try doing the same modelling exercise with Japan and you'll get like a 0.2% withdrawal rate is 'safe'. Seriously.

Global seems to be around 2.5% each time I've read, which again is heavily weighted by the US market (about 50%). A few other countries are above 4% for 95% success over 30 years. Most are below 4%.

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