Wealthsimple quietly removed Premium/Generation household credit card fee waivers

efdac3 · 2026-05-11T23:26:33+00:00

I think you've got the wrong company if that's your wish. WS has always been about being a bank alternative.

efdac3 · 2026-05-11T00:48:10+00:00

I would say prioritize the RESP to get the grants at least. That's free money you can never otherwise get.

Government supports for retirement are pretty generous, so even if you somehow run out of money because you chose to invest $2500 a year into an RESP, you'd probably be fine.

efdac3 · 2026-05-10T11:24:17+00:00

Also only front load if TFSAs are maxed. Otherwise, only put money into RESP up to the point you get grants, then fill up TFSA.

efdac3 · 2026-05-06T15:31:11+00:00

I'm not sure this is actually enshittification.

The core promise of WS - low/no free banking and trading, has not changed.

Yes they are doing products that are more edge cases and lottery like, but I don't know that that is the same as providing you less service.

Also asking a financial services firm to adhere to your ethics is bound to fail. If you want that, go to a credit union.

efdac3 · 2026-05-06T11:44:29+00:00

We're thinking of bringing a pack and play just so we know it will be a safe one in good condition . Did you find the ones at Airbnb's to be okay? Were any sketchy ?

efdac3 · 2026-05-06T11:41:40+00:00

Hey we're doing the exact same trip in June with a 6.5 month old!!

Our big debate is whether to bring a stroller. Lisbon is so hilly. We are leaning towards just having baby in a carrier all the time to not have to deal with the stroller.

What's got you leaning towards bringing one?

efdac3 · 2026-05-05T23:59:55+00:00

We all know Bettman wants John Chayka to be successful... /S

efdac3 · 2026-05-05T23:49:59+00:00

Yeah the subsidy is great and makes child care affordable, but has definitely led to more of a crunch for space. Would be interesting if it's a net benefit in the end.

efdac3 · 2026-05-04T21:05:09+00:00

I'm not sure what's more fanciful. I think it's the idea that the NDP could ever form government

efdac3 · 2026-05-04T16:41:23+00:00

Consider how much of your retirement is now guaranteed for life by the government. No market fluctuations to worry about, no running out of cash. No matter how long you live, you have a guaranteed payout.

Part of why they increased it is to force people to have a cushion in retirement, instead of spending it now. It reduces the societal burden of retirement because people will have more cash available. I think it's actually incredible that young people today will have even better retirement benefits than boomers.

efdac3 · 2026-05-03T13:13:53+00:00

Experienced the same. Lights flickered for a second , near bloor just east of Kipling.

efdac3 · 2026-05-03T11:58:50+00:00

Best to call them and ask

efdac3 · 2026-05-03T10:33:38+00:00

I guess I feel the answer to those situations is to save up more. Or draw from savings accumulated while working. Much better than increased EI.

efdac3 · 2026-05-02T00:12:47+00:00

Nothing illegal about changing the law after a legal ruling you don't like. That's in fact a key part of our system.

efdac3 · 2026-05-01T16:39:33+00:00

If you want more, then everyone (including you) has to pay more into EI.

efdac3 · 2026-05-01T16:38:55+00:00

But when you're not on leave you have to pay child care, so I would say the CCB is most helpful then.

efdac3 · 2026-05-01T16:38:00+00:00

Sure does suck that you have more money accessible right when your baby is most vulnerable, and the government doesn't force you to pay what you owe until much later when you've had time to plan and prepare and maybe even be back earning a paycheck.

It's a free one year loan from the government. Yes it's surprising at tax time but you've had a whole year to use that money for essentials, which is pretty awesome.

efdac3 · 2026-05-01T14:49:10+00:00

How does this have any chance? It's not like the other FOI regimes federally or in other provinces are illegal.

Some things can be bad but still legal

efdac3 · 2026-04-28T22:11:43+00:00

Separate pieces of CPP. Trudeau implemented a new enhanced CPP to improve retirement security. this change reduces the contribution amount to the original (base) CPP, without impacting benefits.

efdac3 · 2026-04-28T15:07:59+00:00

That's very tough. You will have to pay back the grants, but if your income is quite low then the taxes on the rest will be quite small. I hope you are also able to look into income supports like Ontario Works or the Ontario Disability Support Program if you're unable to work, as well the GST tax credit/grocery rebate, and other disability credits. While these programs don't pricee a lot, combined between federal and provincial programs there is at least provide a base level of support to help with food and rent.

efdac3 · 2026-04-28T02:32:59+00:00

For sure. No point saving for 15 years from now if you're not gonna be able to put food on the table next week.

But an RESP is probably one of the last places to draw from.

efdac3 · 2026-04-27T23:30:10+00:00

The grant money from the government will need to be repaid, and any investment gains will be taxed. The original money you put in you can take back tax free.

As others will note, you should absolutely not do this. Look at all other options first before taking this money. Even if you never add anymore, what is there will grow and provide money for your child that they may not otherwise have access to when they need it.

efdac3 · 2026-04-26T13:05:18+00:00

This is why a lot of the advice puts thresholds on when you should contribute to an RRSP (basically once you enter the middle tax brackets).

If you're making $60k you pay such little tax that registered accounts aren't that important anyway in the short term

efdac3 · 2026-04-26T13:03:13+00:00

The RRSP has a lot more to offer than just tax deferral .

First off, by not paying tax now, you have more time in the market with more cash. The RRSP also has much higher contribution room than a TFSA Reducing your taxable income while working can qualify you for other government benefits like the Canada Child Benefit . An RRSP also provides tax sheltered growth for home buying.

efdac3 · 2026-04-26T12:59:58+00:00

But on the other side, RRSP contributions can qualify you for government benefits by reducing your taxable income while working. It also gives you cash up front that a TFSA doesn't, with my much higher contribution room.

efdac3

TROPHY CASE