Thanks! I have an article about that on my blog: wealthawesome.com/noberts-gambit-questrade/

Thanks, I'm glad you liked it!

Thanks!!

Well said!

Glad to hear it!

Glad you enjoyed it!

Hey Joe, yes you can, but only through their online trading platform, not at the bank branch, and you have to learn it yourself to buy ETFs and stocks. So for example, if you're with TD, you can use TD Direct Investing. I would recommend Questrade or Wealthsimple Trade though if you decide to go this route. Check out my review on the best trading platforms here: kzfaq.info/get/bejne/qd6qjat6vM3Xe4E.html

I would recommend transferring in kind to another brokerage such as wealthsimple trade, then you can sell it there and buy whatever you want. Get a $50 signup bonus here: wealthawesome.com/recommends/wealthsimple-trade

Glad you liked it!

same thing here.I am thinking of withrawing my money. And just try the wealth simple

Is that from a mutual fund? Yeah that's a pretty bad return given the strength of the market in the last year.

@@WealthAwesome Yup! Self directed I hit maybe 24% YOY or so? I got lucky on a few trades. I went with Questrade because they had the lowest fees, and looking at how high the fees are for my mutual fund (TD), I'm probably going to scale back my monthly contribution significantly.

@@WealthAwesome Come on. If you're as smart as you say then at least acknowledge that there are different types of funds. Maybe this guy has a bond fund or something that is naturally not going to get great returns or high returns. Stop with the irresponsible "mutual fund". I have mutual funds that have averaged 18% plus over the last 20 years. Good years, bad years different cycles different types of funds. You are so irresponsible in your comments. Also, just having a self directed RRSP isn't going to get a 24% return. That is just stupid gross misinformation. A specific investment will do that but that investment will do the same 24% inside an RRSP or TFSA or non registered account. I can't believe the level of stupid uninformed comments here and you don't correct anyone.

@@aliman1146 yeah you’re totally right. These seem to be more opinions more that actual facts. If you’re going to a bank expecting to out perform the market then idk what to tell you. This video is kind of misleading.

I dislike seg funds even more than mutual funds, because of how often they are abused by people who sell them. The "guarantees" aren't guarantees of returns, and the even higher fees are outrageous (3% plus per year sometimes!) . It's good mainly for two things: bypassing probate when doing estate taxes, and protecting against creditors. I would recommend ETFs over mutual funds, and mutual funds over seg funds in most situations.

Thanks! Questrade has a US Dollar account and flexible rates. You can also look at National Bank Financial but FX rates are a bit high.

Hey great to hear about that! Wealthsimple Trade is a good choice. I'm glad you like learning about investments. I'm not sure, did we? What high school did you go to?

@@WealthAwesome Ross. Sheppard. You look familiar.

Are you still with the mutual fund and wealth simple? I just open wealth simple too but scared to invest in them as I have one with scotia bank right now

@@sithakhounborinh5181 yep still with wealthsimple. Love it!

That should be ok, double check with Questrade though before you do it!

Since this comment was made. Did you transfer your funds all over to Questrade? Were there any fees from BMO?

Looking at it's info, it doesn't impress me. It has average performance, and still a pretty high MER at 1.05% per year. See here: www.rbcgam.com/en/ca/products/mutual-funds/RBF1014/detail

Yes, you can invest in ETFs in your RRSP, and TFSA!

The M.E.R is insanely high at 2.49% a year, so I don't like it

The best option is to transfer in kind if possible. Speak to the brokerage for exact steps and options - many have excellent support

Yeah I am a big fan of these for their simplicity, but 0.28% is a bit high. Check my picks for the best all-in-one ETF portfolios, you can see my video here about it: kzfaq.info/get/bejne/j7CVa8ujm6_bcnU.html

Yes you can put them into something else. They don't mature, but if you sell you might have to pay taxes on them so that's something to consider.

ETFs are undeniably less expensive than mutual funds. You do "pay the fee," basically it's deducted before the returns are given to you. There is a mountain of evidence that shows on average mutual funds do NOT beat the market, mostly because of these high fees. See this unbiased research paper by S&P for more info: www.spglobal.com/spdji/en/documents/spiva/spiva-canada-scorecard-year-end-2020.pdf

@@WealthAwesome I do not understand the basis of saying "expensive". The performance of both ETFs and Mutual Funds are after the "fee" is removed, therefore, the only basis for comparison should be the performance. If an ETF has 0.25% MER and a Mutual Fund has 2.5% MER, it really does not matter if you choose a mutual fund that has outperformed the ETF, after deduction of fees. That is how I have chosen my mutual funds. Yes, the MER for a mutual fund is higher because people actually work to select equities, whereas an Index ETF is a computer algorithm that is once set and forgotten. The MER is not "paid" by the customer. The MER is removed from the returns of the equities that form the fund, isn't it? The only fees that would be paid by the customer are front/back loads, sales charges and commissions, which should be completely avoided. Now, I agree that there is a risk factor in mutual funds, the risk that the fund manager may not perform the same in the future. A fund that has outperformed a similar ETF in the past may underperform the same ETF in the future. That is the only reason I have a few asset allocation ETFs in my radar, to transfer from my mutual funds into these ETFs or just 1 asset allocation ETF.

@@lawrence0101 Could you please share some mutual funds code that you recommend? I am also looking to invest in mutual funds due to their convenience of automatic purchase which is not available in ETFs. Also do you know any good S&P 500 mutual funds. Thank you

@@Unshackled-drive I have a mutual fund with an MER a tad over 3%. Oh my God. Even so, since 1997 it has given me an average return almost 21% while the index would have given me 8%. I'll pay my 3% MER to get 20 plus % and you can keep your low fee index fund and earn 8%. Also, mutual funds were not created to beat an index or to compete with an index. Apples and oranges.

@@aliman1146 what is the name of this mutual fund where you are averaging 20%+ gains every year since 1997? I would like to study this mutual fund and look at the data to see if this is true. Without evidence, you could claim anything you want. That is, I could claim I am invested in a mutual fund since 1988, where I am averaging 45%+ gains every year while paying 5% MER. Do you believe me? I don’t believe you either. If what you say is true, show me the proof! State the name of your mutual fund, and I will go look at your funds past performance, and see if what you claim is even remotely true. I strongly doubt it !

Hey Stephanie, yes you can sell the mutual fund and invest in something else. It takes a couple days usually to sell the fund.

@@WealthAwesome Thank you. I am learning so much from your videos. Will I be charged by the bank if I withdrew it? Thank you

That's great, I hope this helped!

Thanks for sharing

Thanks Nate!

haha. Check out ETFs instead!

@@WealthAwesome lol ok

thanks!