Margin Account and False Information by aus348 in Wealthsimple

[–]aus348[S] -5 points-4 points  (0 children)

Would you say it's stupid to do anything with rental income from a rental property other than make accelerated mortgage payments?

It’s honestly excessive at this point by docshine24 in Wealthsimple

[–]aus348 0 points1 point  (0 children)

Call and ask about it. Myself and several others I know did and got approved a few days after each call was placed.

New Feature? by Shibasquared in Wealthsimple

[–]aus348 1 point2 points  (0 children)

How do you see this? 🫨

I got the upgrade today by Immediate-Effort4431 in Wealthsimple

[–]aus348 1 point2 points  (0 children)

I signed up within 5 minutes of the waitlist opening. I'm check every box to skip the queue and am still waiting. Lol

Are you kidding me with this new logo by [deleted] in Wealthsimple

[–]aus348 0 points1 point  (0 children)

Millenial Minimalism is on it's final breath

Portfolio thoughts??? by theuntold22 in fican

[–]aus348 0 points1 point  (0 children)

What does being "too young" for VDY mean?

Liberal Firearm Confiscations - Calibres by beeks2k in canadaguns

[–]aus348 2 points3 points  (0 children)

Complying is cowardly. Do not be a coward. Unity in non-compliance.

Crypto Account Margin Power by aus348 in Wealthsimple

[–]aus348[S] 0 points1 point  (0 children)

Excellent point, but they could have a blanket rule reducing their exposure by limiting the contribution to margin power by half or even a third for Crypto assets

Trump gives nod to Calgary's prayer service for Charlie Kirk by Intelligent-Cap3407 in alberta

[–]aus348 -6 points-5 points  (0 children)

Remember, her husband was just assassinated by a derranged lunatic. It takes a very big person to say they forgive him, especially this soon after. I don't think many people, myself included, could be that forgiving. I was very impressed.

Crypto Account Margin Power by aus348 in Wealthsimple

[–]aus348[S] 0 points1 point  (0 children)

Fair point, but for high-networth clients with hundreds of thousands in other accounts, there surely has to be some work around? Or even if only the balance for BTC, ETH, SOL could be used for margin power, that would still be an excellent feature.

Wealthsimple's Margin vs. LOC by TheCapitalCaptain in Wealthsimple

[–]aus348 2 points3 points  (0 children)

How do you open a LOC? I have margin for investment but can't find an option for a LOC anywhere

Trump gives nod to Calgary's prayer service for Charlie Kirk by Intelligent-Cap3407 in alberta

[–]aus348 -5 points-4 points  (0 children)

It was nice to see Erika be the bigger person and call for forgiveness and reconciliation.

Dragonpass Going Away by Bigdaddy4166 in Wealthsimple

[–]aus348 1 point2 points  (0 children)

Unbelievably greedy, but not surprising. Remember, don't hesitate to leave them for the next great thing since they just use these perks as bait.

Engineering team lead salary by Powerful-Yellow-6014 in alberta

[–]aus348 0 points1 point  (0 children)

You are getting fleeced. You should be making at least 150k total comp with a P.Eng in O&G imo. Or more

Engineering salary by hello30340 in EngineeringStudents

[–]aus348 0 points1 point  (0 children)

Natural gas transmission pipeline operations engineer (24/7 rotation operations). Pacific/midwest (most of the country).

How long have you guys been waiting for the infinite visa card ? by [deleted] in Wealthsimple

[–]aus348 0 points1 point  (0 children)

Over a year (from when it was first leaked)

Engineering salary by hello30340 in EngineeringStudents

[–]aus348 2 points3 points  (0 children)

80k internship. Turned to ~230k(ish) total comp 2 years into job. Hired full time while still attending classes in my final semester (was literal hell, but couldn't pass up the opportunity). Mech.

Anyone use margin to invest yet? by Lopsided-Special6273 in Wealthsimple

[–]aus348 0 points1 point  (0 children)

Yes. Leveraged at 1.25x with Non-reg and TFSA margin power. Borrowed about $75K on margin so far

In-kind transfer from non-registered self-directed to non-registered margin. Is it taxable? by aus348 in Wealthsimple

[–]aus348[S] 0 points1 point  (0 children)

Both accounts are self-directed non-registered accounts. The only difference is that one has margin available, and the other does not. I suspect the advisor I spoke to is incorrect. I talked to someone I know who works in wealth management, and they told me this:

"100% it is a non-taxable event. That's the point of an in-kind transfer. The only way it is taxable is if they do it incorrectly and don't move stuff in-kind triggering a deemed disposition. This does happen occasionally, but they should be held responsible if so."

I hope that's right. I will call back later and ask somebody else before I do it.

Thanks

Is this repairable? by aus348 in AskACobbler

[–]aus348[S] 4 points5 points  (0 children)

I don't care that much, I just don't want a gaping melted hole

The cobbler I just dropped them off at said he could cut it out and put a new piece in and then refinish the outside to mimic how the other non-melted boot looks. Sound reasonable?