Canadian Personal Finance Blog

Fruitful Bank Trip

My visit to the bank was quite fruitful.  I arranged to get money out of an RESP (evidently there are two ways of doing it):

• EAP which takes out the CESG portion of the RESP
• The other thing that takes out the other part, which I did

Tax implications? No bloody idea, I’ll figure that one out in February.

Opened a self-directed RRSP with TD, and ensured I could get at their E-Series index funds (another point well made by the Canadian Capitalist).

Opened a Locked In Retirement Account, well sort of did, filled in the forms, yet another system in TD which is all paper based. Found out from our service rep there are 5 different systems she deals with (at least) and none of them talk nicely to each other and many are still mostly paper based. Maybe TD can use their HUGE profits to fix that?

Finally, I got free banking for a while too. This time I phrased it in a way that made our rep happy to give it to us, and thus I don’t have to pay for banking for a while longer.

I love it when a plan comes together!

Owe for 3 on Stocks

After bad mouthing Scotiabank, BMO and Nortel yesterday, on Wednesday they all rebound back…

• Nortel up 5%
• BMO up 3.6%
• Scotiabank up 2.26%

I can sure pick them, can’t I? I have pointed out this is NOT where to get your hot stock tips, have I not? One day does not a trend make, and given most stocks were up, could be just a “follow the leaders rally”, but again, don’t take my advise on that one.

Humor

Here is a rhetorical question for the lady readers, would you go to LaSenza to a “Sports Bra Blow Out” sale? Something about that advertising doesn’t sound right to me.