10x - anyone using them for RAs?

[Sideshow Bob]

10x is working to get this functionality (of showing units etc) on their portal. ETA is within 3 months. I have been hounding their call centre (via mail) today.

Can people here who have accounts with 10x mail them accordingly as well?

 

[xrapidx]

10x is working to get this functionality (of showing units etc) on their portal. ETA is within 3 months. I have been hounding their call centre (via mail) today.

Can people here who have accounts with 10x mail them accordingly as well?

The fact that it's not a matter of just adding a column to a report is even more concerning to me.

 

[Sideshow Bob]

The fact that it's not a matter of just adding a column to a report is even more concerning to me.

At a minimum, there is a daily data feed from some provider, then there are extracts that run daily, then calculations and then it is relatively easy. Not easy if website not developed with that intention. But, terrible idea not to develop it this way.

 

[r4nd0m]

Here I am wondering why you guys are still pumping money into your RA's instead of taking your money offshore.

Sure the tax break is nice, but having guavamint dip its hand into your funds isn't.

What gives? What am I missing? (legit question)

 

[backstreetboy]

Here I am wondering why you guys are still pumping money into your RA's instead of taking your money offshore.

Sure the tax break is nice, but having guavamint dip its hand into your funds isn't.

What gives? What am I missing? (legit question)

There's this thing called diversifying where you'll have money in eg. property, RA, TFSA, notice account at the bank, bitcoin, funds that track overseas index etc. Also judging by all the FUD spread by analysts the last 10 years I'm surprised I'm still alive.

 

[r4nd0m]

There's this thing called diversifying

I get that, but moving funds offshore wouldn't stop you from doing that. There are many brokerages in many parts of the world that would deal with you if you want to diversify at that level even.

With RA's you're putting your money into a vehicle that actually prevents you from fully diversifying btw (reg. 28). Max 30% offshore. The world is more than SA's economy (thankfully).

 

[zerocool2009]

I get that, but moving funds offshore wouldn't stop you from doing that. There are many brokerages in many parts of the world that would deal with you if you want to diversify at that level even.

With RA's you're putting your money into a vehicle that actually prevents you from fully diversifying btw (reg. 28). Max 30% offshore. The world is more than SA's economy (thankfully).

Its the REG 28 that stops us from going 100% offscore. Well, at least the little tax perk helps.

But diversify is the key

 

[Sideshow Bob]

Here I am wondering why you guys are still pumping money into your RA's instead of taking your money offshore.

Sure the tax break is nice, but having guavamint dip its hand into your funds isn't.

What gives? What am I missing? (legit question)

Tax benefit & diversification - I don't have much RA contribution. Has government started taking out funds ? I know you will say that it will be too late but there will be legal challenges thrown government's way when they actually start doing it. At least, that is what I hope so. Just like you hope that offshore would be relatively safe.

 

[Sideshow Bob]

I get that, but moving funds offshore wouldn't stop you from doing that. There are many brokerages in many parts of the world that would deal with you if you want to diversify at that level even.

With RA's you're putting your money into a vehicle that actually prevents you from fully diversifying btw (reg. 28). Max 30% offshore. The world is more than SA's economy (thankfully).

Why not suggest offshore funds that you think are worth it? Don't advise - maybe drop in few names and say 'People have been saying'. or you can say 'These are the ones I invested in'. No sarcasm here.

 

[zerocool2009]

I must be honest. If the government is planning on taking savings, then its in the same boat why banks are scared for the land without compensation rule.

Alot of things needs to happen (I hope) before anything is set in stone

 

[r4nd0m]

Why not suggest offshore funds that you think are worth it? Don't advise - maybe drop in few names and say 'People have been saying'. or you can say 'These are the ones I invested in'. No sarcasm here.

The guys here are already quite in the loop when it comes to investing.

The point is that while our country's economy regresses more and more, I see the same people (aware and knowledgeable in their own right) putting faith in government structured investment vehicles because government dangles a carrot on a stick.

@zerocool2009 did mention that it might be because of the penalties due to stopping contributions, which does make sense as well.

I obviously don't want this to happen, but every now and then you see articles about them (government) marching forward with their plans.

 

[zerocool2009]

I personally think its every investors most worst nightmare! God forbid it will happen, as we are not saving for the government to have a bottomless pit of funds to misuse

 

[Sideshow Bob]

I personally think its every investors most worst nightmare! God forbid it will happen, as we are not saving for the government to have a bottomless pit of funds to misuse

I agree but it is going to be a legal battle when/if it starts. My problem is every now and then someone chips in and says why not invest in off-shore funds and yada yada yada.. No one here is a FA so it is not like they are advising so why not drop few fund names that you probably know of.

Here. I drop these 2 names. 1) MSCI world 2) MSCI China and so on..

 

[Speedster]

I agree but it is going to be a legal battle when/if it starts. My problem is every now and then someone chips in and says why not invest in off-shore funds and yada yada yada.. No one here is a FA so it is not like they are advising so why not drop few fund names that you probably know of.

Here. I drop these 2 names. 1) MSCI world 2) MSCI China and so on..

For a genuine offshore investment the broker should be offshore too. I have some MSCI world through EE, but I realise this is not safe should government decide EWC should be applied to finances.

 

[r4nd0m]

My problem is every now and then someone chips in and says why not invest in off-shore funds and yada yada yada.. No one here is a FA so it is not like they are advising so why not drop few fund names that you probably know of.

There can be no knowledge without understanding. I think people who excel at investing their own money have an actual interest in it.

1. Get an account with a registered offshore broker:

How to invest in Vanguard (from SA) when not a US citizen or resident?

I tried opening a Vanguard account directly through their website, but was not able to as I am not a resident in the US (although I do have a US bank account and social security number from a previous short job there). Has anyone succeeded in opening a Vanguard account while living in South...

mybroadband.co.za

2. Invest in indexed ETF's and build up a portfolio of your choosing:

Assets – Portfolio Charts

Learn about asset classes, find appropriate index funds in any country, and discover how quality portfolio ingredients work together in a portfolio.

portfoliocharts.com

Questions beyond that relate to actually putting time into the topic in order to understand investing principles and how to manage your portfolio yourself. There is a reason why FAs exist after all.

 

[Sideshow Bob]

Charles Schwab & Co. Reviews (From Verified Customers)

Beginner and experienced investors will benefit from online brokerage accounts through Charles Schwab & Co., with $0 minimums and low fees.

www.consumeraffairs.com

 

[r4nd0m]

Charles Schwab & Co. Reviews (From Verified Customers)

Beginner and experienced investors will benefit from online brokerage accounts through Charles Schwab & Co., with $0 minimums and low fees.

www.consumeraffairs.com

Not sure what you're trying to imply, if anything, but I will leave this here:

Charles Schwab Wins DOJ Approval For $26 Billion TD Ameritrade Deal

Schwab’s stock is up 2% on the news, while TD shares surged 5%.

www.forbes.com

Charles Schwab by the way is the biggest brokerage in the USA.

 

[xrapidx]

At a minimum, there is a daily data feed from some provider, then there are extracts that run daily, then calculations and then it is relatively easy. Not easy if website not developed with that intention. But, terrible idea not to develop it this way.

There should be no calculation, the calculation was already done to display the rand value. If you're doing a calculation to get back to units, something is seriously wrong - and definitely prone to more error.

 

[backstreetboy]

I get that, but moving funds offshore wouldn't stop you from doing that. There are many brokerages in many parts of the world that would deal with you if you want to diversify at that level even.

With RA's you're putting your money into a vehicle that actually prevents you from fully diversifying btw (reg. 28). Max 30% offshore. The world is more than SA's economy (thankfully).

Yeah and they have monthly fees if you don't trade monthly or excessive brokerage charges not to mention the added tax complexities. Then there's also Covid 19 and I doubt many out there have a big enough lump sum they can just move offshore so they don't get hit by excessive fees doing it bit by bit. With an RA I can invest as little as R500 per month.

 

[Sideshow Bob]

There should be no calculation, the calculation was already done to display the rand value. If you're doing a calculation to get back to units, something is seriously wrong - and definitely prone to more error.

Cool. This discussion won't go anywhere. Thanks for the initial heads up.