(Another) TFSA thread...

Speedster said:
You do the TFSA with/through/at EasyEquities. i.e. EasyEquities is the platform which holds your TFSA. You can then invest in the available shares/funds within your TFSA wrapper on EE.
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Turns out I already have an EE account. Must have set it up years ago.

I'll just setup a TFSA with them, then. Thanks!
 
Priapus said:
Turns out I already have an EE account. Must have set it up years ago.

I'll just setup a TFSA with them, then. Thanks!
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Though their site makes it hard to know exactly what I am buying. I did prefer how 10x is setup in that its easy to see what you buying.

I'll do more digging on EE later and decide.
 
Priapus said:
Though their site makes it hard to know exactly what I am buying. I did prefer how 10x is setup in that its easy to see what you buying.

I'll do more digging on EE later and decide.
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Did you see the "invest now" button at the top of the page?
 
Priapus said:
Though their site makes it hard to know exactly what I am buying. I did prefer how 10x is setup in that its easy to see what you buying.

I'll do more digging on EE later and decide.
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Once you get the hang of it, EE is way better than 10X. Also check their app. It’s basically a web wrapper, but can do everything.
 
3WA said:
Once you get the hang of it, EE is way better than 10X. Also check their app. It’s basically a web wrapper, but can do everything.
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I hate those kinds of apps, but if it works it works I guess.

Speedster said:
Scroll down a touch?
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Yeah, sorry I didn't include that part of the screenshot. But did see all the different options, depending on categories.

So, I assume, then, all the options are just different equities that I can have in my TFSA account with them?

As I say new to all this, so just figuring it out as I go. Thanks for the assistance
 
Priapus said:
I hate those kinds of apps, but if it works it works I guess.



Yeah, sorry I didn't include that part of the screenshot. But did see all the different options, depending on categories.

So, I assume, then, all the options are just different equities that I can have in my TFSA account with them?

As I say new to all this, so just figuring it out as I go. Thanks for the assistance
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Perhaps try the R100k demo account first to get a hang of it.
 
Priapus said:
I hate those kinds of apps, but if it works it works I guess.



Yeah, sorry I didn't include that part of the screenshot. But did see all the different options, depending on categories.

So, I assume, then, all the options are just different equities that I can have in my TFSA account with them?

As I say new to all this, so just figuring it out as I go. Thanks for the assistance
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Correct. There are a wide variety of equities and funds to choose from. For people like you and me I'd suggest ETFs - they're just much simpler and safer than direct investments. As mentioned above, I went with 4 funds for my kids - Satrix MSCI World (50%), Satrix MSCI China (25%), Satrix Top40 (12.5%) and Satrix DIVI (12.5%). Covid obviously killed the China one, but I haven't offloaded that as I still think it's a good long term bet (and there's very little China in MSCI World). Going this way is largely set and forget, the fund managers make their decisions based on their stated objectives and they're objectives I agree with so don't need to do anything once I've selected the funds.
 
Speedster said:
Correct. There are a wide variety of equities and funds to choose from. For people like you and me I'd suggest ETFs - they're just much simpler and safer than direct investments. As mentioned above, I went with 4 funds for my kids - Satrix MSCI World (50%), Satrix MSCI China (25%), Satrix Top40 (12.5%) and Satrix DIVI (12.5%). Covid obviously killed the China one, but I haven't offloaded that as I still think it's a good long term bet (and there's very little China in MSCI World). Going this way is largely set and forget, the fund managers make their decisions based on their stated objectives and they're objectives I agree with so don't need to do anything once I've selected the funds.
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How would that affect your lifetime contributions?
 
Priapus said:
How would that affect your lifetime contributions?
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You can contribute a set amount yearly (R36k currently) for a max of R500k in your lifetime. Once the funds are in the wrapper, you can move them around as you wish. It's only withdrawing from and contributing to the wrapper that has any effects on the limits.
 
Priapus said:
Thanks. There has to be more than just TER amount to be a deciding factor on which TFSA account to choose, though?

Otherwise, everyone would just pick the one with lowest TER %.
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Investopedia has this guide on ETFs that you might find helpful (Don't miss the navigation to the next articles at the bottom)

www.investopedia.com

Exchange-Traded Fund (ETF): What It Is and How to Invest

Learn what an exchange-traded fund (ETF) is, how it works, its key benefits, risks, and simple steps to start investing in ETFs with confidence for beginners.
www.investopedia.com www.investopedia.com
 
Priapus said:
The issue I have with an RA
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**** an RA, simple as that.

Investing is actually pretty straight forward if you stick to basics.

- Dump 90% of your investments into a world wide fund (I dunno how things have changed but there used to be the Ashburton 1200 one I used).

- Take 10% and buy "satellites" - extra Microsoft shred, NASDAQ100, crypto etc.

Or just go 100% into a fund like the 1200 one.

And do it on a cheap but insured/protected platform like easy equities. Last time I checked sygnia was still big on paperwork.

EDIT: looks like it is now managed by FNB: FNBEQF
 
Hamster said:
**** an RA, simple as that.

Investing is actually pretty straight forward if you stick to basics.

- Dump 90% of your investments into a world wide fund (I dunno how things have changed but there used to be the Ashburton 1200 one I used).

- Take 10% and buy "satellites" - extra Microsoft shred, NASDAQ100, crypto etc.

Or just go 100% into a fund like the 1200 one.

And do it on a cheap but insured/protected platform like easy equities. Last time I checked sygnia was still big on paperwork.

EDIT: looks like it is now managed by FNB: FNBEQF
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So, what's the alternative to RA's? A simple pension fund won't cut it.

EE seems like the place to go; but I just need to dig into their site more. Im thinking I do a TFSA through them, then go some normal stocks as you mentioned above.
 
Priapus said:
So, what's the alternative to RA's? A simple pension fund won't cut it.

EE seems like the place to go; but I just need to dig into their site more. Im thinking I do a TFSA through them, then go some normal stocks as you mentioned above.
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Not to detract from the TFSA discussion, but look at opening an interactivebrokers account and invest offshore.

There's some discussions about them on the forum, but they're essentially an offshore broker where you can open a USD/GBP/EUR denominated account and buy US/UCITS ETFs. No tax advantage though.
 
Had some time to actually sit and look at EE site properly. Navigation is what threw me off a little.

Put some more into the account and just bought done my first ever bit of investing.

Now onwards to either being broke - or not so broke in years to come lol
 
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Priapus said:
So, what's the alternative to RA's? A simple pension fund won't cut it.
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Do the same thing you do inside your TFSA. The TFSA's tax freeness comes into play when you sell (or receive dividends/interest but you only worry about this when you are old).

Which means tax is only a problem outside of the TFSA if you sell (as in non TFSA investments ). And you're only going to sell when you reach a certain age or want to immigrate in which case you sell it in the tax year after your last SA salary (there are reasons but don't worry about it).
 
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I mainly invest in my RA and then dump the 36k worth of Sars refunds into my tfsa every year.
 
Hamster said:
Do the same thing you do inside your TFSA. The TFSA's tax freeness comes into play when you sell (or receive dividends/interest but you only worry about this when you are old).

Which means tax is only a problem outside of the TFSA if you sell. And you're only going to sell when you reach a certain age or want to immigrate in which case you sell it in the tax year after your last SA salary (there are reasons but don't worry about it).
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Mmmm. How I see it. Think I am in year 7 now. Even if I sell and cash out, its tax free. But will shoot me in the foot, as its long term only.
 
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