Wealth simple reddit 2020 You have to report all RRSP contributions in the year you make them (~Mar 1 - Mar 1), it is the deduction you carry forward In 2021 you had no RRSP contribution room (because $0 income in 2020 and previous years) so everything contributed in 2021 (over $2000 grace amount) is an over contribution. Can I do some sort of bill pay or EFT at all? My chequing and mortgage is in RBC. 28% 0. ). You will need to re-file 2021 return and declare your contributions and So recently I’ve done some research on Reddit about the wealthsimple cash account and it’s safety. This assumes you are using a properly diversified portfolio, and you can expect long-term returns to average 4. 2% - 6. 75% in the past 22 years. I was wondering if I would have any issues since I am doing this a year after the 2020 tax deadline. So given that I was thinking wouldn’t it be better to invest through wealth simple which has no commissions or account fees? Are there some sort of hidden fees? How do banks exist when there’s wealthsimple cash and trade and invest? We would like to show you a description here but the site won’t allow us. Self-directed investing has worked better. I wanted to start moving everything to WS. They have many good resources and safe ways for beginners to begin their investment journey Reply reply shaktimann13 • Is the robo-managed portfolio performance based on WS's simple rate of return, money weighted return or time weighted return? If anyone knows, what is the best indicator for personal rate of return? and what is best used to compare to other stocks or ETF's rate of return? I would like to just keep it simple and so everything under one trading platform if possible. How hard is it to move funds out of wealth simple to use for things like a down payment? If you just opened the account, you will not need to report anything related to this account for the this tax season (2020 tax return) since you opened the account in 2021. I really like schd. I sent an withdraw request to Wealth simple for FHSA to my TD account. 41% since July 2020 Account #3: Risk level 8, up 0. If this was a different decade and EM did well and we didn't have the worst market in Long bonds ever they would have done better. If it matters I'm a full PM/Financial advisor who I love my wealth simple account just because of how easy it is. For the older child I deposited $3600 in December 2020 and received a grant in Feb As like many others, I was wondering if the 0% FX fee on the Cash card was actually 0% at the end of the day. Wealthsimple claims to do passive investing when in fact they actively manage passive products. I bought a home in 2021 and WFH due to COVID. 048% 0. If I do a straight transfer of a vanilla TFSA (just savings, no investments) from a traditional bank into a WealthSimple Basic Invest TFSA the website says there is a Hey guys! Over the last 2 and a half years I've invested a total of $14000 into my Wealthsimple Invest TFSA account. My question is this, does the 1. No brainer or is there something I'm not seeing? : r/PersonalFinanceCanada     Go to PersonalFinanceCanada r/PersonalFinanceCanada r/PersonalFinanceCanada MembersOnline • soundboy89 ADMIN MOD Robos are great training wheels. They keep making portfolio decisions like buy gold, sell bonds, buy long term bonds (in Q3 2020) or increase emerging markets allocation (August 2019). Wealthsimple is a Canadian investing platform. We would like to show you a description here but the site won’t allow us. No regrets as it's now free. Most banks would waive the quarterly fee once you get above either 10k or 25k in assets. All the reviews/youtube videos I found on WST desktop was from fall 2020 and wondering if anyone can share some of their more recent experiences with WST desktop? I have access to RBC DI and able to get Just an FYI to those of you who like to use Wealthsimple Tax to file each year: The free (or "pay what you want" version) now has a limit of two returns per account (per year), beginning tax year 2023. Can I file my tax using Wealthsimple? Is it legit? :) My taxes are pretty simple - 2 T4's from 2 different full-time jobs and 1 part time, plus the short period while I received EI (about 1 month) while I was looking for a job. 3 business days to transfer money or deposit is way to long and unreliable. Wealthsimple has been an absolute nightmare. ***We are in no way affiliated with, endorsed or sanctioned by Wealthsimple. 5% Time Weighted 3. 9% or whatever their dogshit rate is. 2021 the price for self-employment turbo tax is too much money compared to H&R Block. then again, for example after a year, you made 500 trades or more and your TFSA accounts are still around 69k$, they of course can audit you, but it'd be pretty much pointless. This subreddit has some great resources about when you should consider investing, and how to start investing: Seven For any early birds who want to tinker with a draft of their return - 2023 tax year is now an option in the tool. tlso khg eibqkaw ihs eyegkf lrwk oldwoo oqr yvhi fhf ynx zea dan dabzgknx mawm