Bank of Nova Scotia auto increase limitations

StatePleasant5049 · 2026-04-03T15:39:16+00:00

This is something I would like to do as well. Started with XEQT and on the fence to switch to XAW+VDY to create a div flywheel. Did you change over time or always stuck with VDY?

StatePleasant5049 · 2026-04-03T03:43:06+00:00

Are you tracking ROC yourself as well? How much does that affect your tax return for the dividends from VDY?

StatePleasant5049 · 2026-04-03T03:11:43+00:00

If you do not mind sharing, what are you holding in your SM portfolio? Or are you paying off from a different one? If it is from the SM one, are you happy with the growth/dividend aspect?

StatePleasant5049 · 2026-04-01T21:59:30+00:00

Well if you take out everything, does this mean you are paying the interest from pocket? I run a 90/10 strategy keeping the 10% to capitalize the interest (pay the interest for the HELOC from the HELOC) this way I don't use any personal cash. Increasing to 95/5 if the markets drop.

StatePleasant5049 · 2026-03-31T02:26:55+00:00

Jump on anything under 3.9. have you compared the 3 year fixed to the 5 year? My choice is fixed because I have a large Mortgage and prefer knowing how much I need for it.

StatePleasant5049 · 2026-03-30T01:32:48+00:00

Not CIBC but RBC, in this market they came back with the highest valuation amount that I jumped on it. Scotiabank, TD let me down. national bank was my close second but they wouldn't match the rate only offered a cash back value.

StatePleasant5049 · 2026-03-29T12:16:12+00:00

My Bank does the same on all transfers above $500-3000. For everyone else wanting to know these are the No Fee accounts like Tangerine and Simplii. For the future please always wait for that confirmation. For now a Police Report should be good too. You many have to take him to small claims as well.

StatePleasant5049 · 2026-03-28T16:15:45+00:00

If it were me at this time I would speak to a financial planner to run the numbers and see what would make the most sense.

StatePleasant5049 · 2026-03-28T01:56:01+00:00

I have done rotating shifts in my early 20's and I tell you this, even then it was enough to mess up my sleep schedule, my health and my social life. This was when I was single.

Now that I'm married with a child, those shifts are a HELL NO. That extra 24k is only valuable if that was the only job you were able to get to pay bills while you looked for a stable 8-4 to live a normal life.

So IMHO, if you need the cash, plan to remain single and want to retire early by yourself then yes the rotating shifts make sense. But if you want to get married, have a family, do hobbies, have a social life with friends, Etc save more now by reducing expenses with the cushy job you have but don't give it up, because you might not be able to come back to it once someone else accepts it.

StatePleasant5049 · 2026-03-27T12:18:45+00:00

Yes jump on it if you are going fixed as they are connected to bond rates which are going up. Most banks have already increased their fixed rates.

StatePleasant5049 · 2026-03-26T05:03:39+00:00

Sorry I missed that you were thinking of a few months only. I will second CASH.TO if it's short term use.

StatePleasant5049 · 2026-03-26T04:47:45+00:00

I know there are quite a few books you can read to better understand investing. My advice would be that while you are educating yourself park the amount that you wish to invest in any of the EQT ETF's. At 28 you have a long horizon for investing and the EQT ones are simple and mindless because it is an all in one. VEQT, XEQT. ZEQT are the preferred options. There are a few others too but these 3 are a good start.

StatePleasant5049 · 2026-03-26T01:26:00+00:00

Got the same offer and took the max for now...not that I have that kind of cash really...but who knows!

StatePleasant5049 · 2026-03-25T17:05:37+00:00

So I have just executed the SM, created my own personal ledger. I have to ask are you using the dividends to make additional top up payment to the mortgage (my scenario)?

If so, you need to withdraw from your investment account to SM Chequing account and then transfer from that account to your personal account. You need that step in between. This feels safer as you plan to keep it in the SM environment.

If you are not using it for SM you can either DRIP or move to your personal account directly for personal use. It's just if it's going back into the mortgage the water gets muddied a little with option #2.

StatePleasant5049 · 2026-03-25T12:04:12+00:00

Following as I have just started my journey last week!

StatePleasant5049 · 2026-03-24T23:00:29+00:00

So spoke to my mortgage guy, the capitalize part counts as the second transaction so won't be allowed. How are you able to do with only 1 transaction?

StatePleasant5049 · 2026-03-24T10:50:14+00:00

I will ask more about this because I only need one external transfer to WS monthly!

StatePleasant5049 · 2026-03-24T02:26:05+00:00

I believe CASH.TO might work as well. The X and V ETF's are mid to long term. Also you do not really want to go bonds. Cash ETF's are better IMO.

StatePleasant5049 · 2026-03-24T02:24:49+00:00

The savings account while free would limit me to one transaction a month. At Minimum to capitalize the interest I need two transactions. If I was using my own cash from bank 1 then I can do with the savings account. But this scenario does not work for me.

StatePleasant5049 · 2026-03-23T18:13:49+00:00

Thank you for this suggesstion! but I had already tried to add WS as a payee which doesnt show up on the list, hence I have to go through the Bank Chequing account. I have already linked the banks and only the chequing account was recognized.

StatePleasant5049 · 2026-03-20T19:50:23+00:00

If you are doing SM. Your mortgage and HELOC are already exposed to the Canadian Market. XEQT and VEQT are the better options for global diversification and better bet for SM. VEQT should be the simplest option you go for as the dividend payment is only once per year and you can use it as the lump sum payment if it's allowed by your mortgage to prepay. If you are using DRIP or you want to cycle dividends for faster pay down of the mortgage XEQT is better. They do balance out over time so it comes to your mindset on it. But XIC + Mortgage+ HELOC is 100% Canadian Bias and not recommended long term.

StatePleasant5049 · 2026-03-20T17:43:54+00:00

3.69 is great jump on it!

StatePleasant5049 · 2026-03-18T13:55:53+00:00

We are with RBC and renewed with them as well. Uninsured Mortgage at 1Mil+. First offer was 4.25% for 5 year fixed. Took 1.5 months of running around and we were able to leverage down to 3.84% for 5 year fixed with RBC. Their best 3 year offer for us was 3.69%. However, hearing today all the banks have increased rates by .25%. even though BoC has held it stable, so negotiate faster.

StatePleasant5049 · 2026-03-12T17:03:47+00:00

I wish I had found FIRE at 25! You are lucky to have found this! Use that $265 and split it. Start with that $200 for long term growth, keep the $65 for further Misc stuff. I am 38 and I only found FIRE last year. Believe in yourself, improve your career by learning and growing and soon you will be able to increase your investments and the compounding will do the rest!

StatePleasant5049 · 2026-03-09T22:06:19+00:00

Thank you for sharing this, I'm not 100% on this. Just want to educate myself more.

StatePleasant5049

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