The big advantage of the TD-e series that is not immediately apparent is that you can automate contributions to your rrsp or tfsa when you work. This removes a lot of second guessing or temptation to time the market.
Go to your Investments area and select Pre-authorized Purchase plan, then set it say to $100 bi-monthly. Then forget it exists, and you have no stress when the markets go up or down.
If you get to a higher amount and stop working and the automatic contribution, then you probably want to move the money to their ETF equivalent with a lower fee of say 0.08% instead of 0.35%.
I found the automation is a big convenience and it’s dollar cost averaging at its best. Unless Questrade offers it at no cost.
Actionable Items
I am having monthly deposit $120 dollars for Scotia Canada index fund. $100 dollar monthly for Scotia US 500 index fund.
No comments:
Post a Comment