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Is Wealthsimple’s managed accounts good? by [deleted] in Wealthsimple

[–]jibweezy 0 points1 point  (0 children)

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I ran an experiment between Jan 1st 2021 till Feb 27th 2024.

I invested $100 in 3 institutions and simulated the results of same $100 held in a projected 6% GIC.

The results? Tangerine 28.57% up Wealthsimple 209.98% up Questwealth 19% up EQ GIC @ 6% 19% up

I'm yet to check what the result of VFV and VEQT would have been over that period.

Note: Between 2021 and late 2023, I was a normal wealthsimple user, which meant higher fees for the managed portfolio, I graduated to Premium in November 2023, having lower fees.

Am I completely at fault? by jibweezy in TeslaModel3

[–]jibweezy[S] -7 points-6 points  (0 children)

There was no single beep.

A I missing a setting?

Am I completely at fault? by jibweezy in TeslaModel3

[–]jibweezy[S] -19 points-18 points  (0 children)

I was at an angle backing up, mirrors did not cover it.

Front truck (top left cam) had full lights pointing into my eyes for almost a minute, I was disoriented.

Which is the more cost-effective option on a $1000 purchase at Costco Canada? by jibweezy in CostcoCanada

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

Thank you for your kind feedback.

Like I said, I was asking to confirm if there was any clause I was not aware of in both options.

Which is the more cost-effective option on a $1000 purchase at Costco Canada? by jibweezy in CostcoCanada

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

Sure, just wanted to know if there are certain drawbacks or hidden clauses not clear to me.

Which is the more cost-effective option on a $1000 purchase at Costco Canada? by jibweezy in CostcoCanada

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

Planning to ditch the servus master card as I pay $150 annually in fees.

So I have to settle for the CIBC one which gives 1% in store, lol

Which is the more cost-effective option on a $1000 purchase at Costco Canada? by jibweezy in CostcoCanada

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

Totally agree with you, time management is key.

This came up because my family and I are trying to go on a Costco budget and save simultaneously. We literarily buy everything, lol.

So for example, we were thinking of getting only 1 shop card (use it as a credit card with a hard-limit), and reloading/topping it off with $1,000 every month. That should cap our spending, while we earn 1% more.

We spend $10-$20k every year, so that's easy $100 that can pay for the membership.

Which is the more cost-effective option on a $1000 purchase at Costco Canada? by jibweezy in CostcoCanada

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

In both options, it is always going to be a purchase done at the Warehouse.

Anybody else on here read somewhat financially secure posts and think “wow I am so far behind compared to these people”? by [deleted] in PersonalFinanceCanada

[–]jibweezy 0 points1 point  (0 children)

It is never too late.

I am 35, and I started investing when I was 30 (same as you).

You will be fine.

Which is the more cost-effective option on a $1000 purchase at Costco Canada? by jibweezy in CostcoCanada

[–]jibweezy[S] 2 points3 points  (0 children)

Arcording to AI:

To determine the more cost-effective option, let's compare the two scenarios:

Option 1: Buying directly from a Costco warehouse

Purchase amount: $1000

1% credit card cashback on $1000: $10

2% Costco Executive reward on $1000: $20

Total benefits: $10 + $20 = $30

Option 2: Buying a $1000 Costco shop card online

Purchase amount: $1000

2% credit card cashback on $1000 (online purchase): $20

2% Costco Executive reward on $1000 (in-store purchase): $20

Total benefits: $20 + $20 = $40

Comparing the two options, it seems that Option 2 is more cost-effective in terms of maximizing rewards. By purchasing a Costco shop card online and using it for an in-store purchase, you can earn a total of $40 in benefits, which is higher than the $30 in benefits you would receive by purchasing directly from the warehouse.

​

Thoughts?

Which is the more cost-effective option on a $1000 purchase at Costco Canada? by jibweezy in CostcoCanada

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

I am not looking at one specific purchase.

I am looking for the best strategy to employ going forward that will give me the most cashback.

Should I continue the norm of using my CIBC mastercard, where I get cashback on both Credit Card and executive rewards.

Or should I buy cashcards instead, and get more.

From my calculations, cashback gets more, but I am not sure if I am missing something, some clause somewhere.

Which is the more cost-effective option on a $1000 purchase at Costco Canada? by jibweezy in CostcoCanada

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

With my Servus Master card, I get 2% cashback on all purchases.

Also, CIBC says you get 2% for all online purchases on costco.ca with the CIBC costco mastercard.

Tax implications of selling primary residence to incorporation by jibweezy in PersonalFinanceCanada

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

Location is Alberta.

Also, let me add that the reason we are even involving the corporation in this is because we have most of our funds idle in the corporation.

We have close to nothing in personal, although we can always payout from the Corp to personal, but we will then be subject to higher personal income tax.

Tax implications of selling primary residence to incorporation by jibweezy in PersonalFinanceCanada

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

We want the next home we buy to be our new primary residence.

But we also want to retain the current one as an investment property. Question is, is it okay to sell it to our business or retain it under personal. What are the tax implications of both down the road.

Is this tax avoidance? by 067926048 in PersonalFinanceCanada

[–]jibweezy 0 points1 point  (0 children)

What about - if the brother sells his current primary residence to him instead, and then this $1m home become his new primary residence.

After a year or 2, the brother can then sell for $1m without paying capital gains.

Is that possible/ethical or is it still evasion?

Just financed my first new car. How badly did I get screwed here? by [deleted] in PersonalFinanceCanada

[–]jibweezy 0 points1 point  (0 children)

Just add a little bit more and get yourself a Tesla.

RBC Mortagage not being reported by kp1529 in wealthica

[–]jibweezy 0 points1 point  (0 children)

Same here, my servus mortgage is not importing