I have about $300,000 that I plan on investing. After looking into mutual funds and robo-advisors, I decided that I'm fairly disciplined and able to understand whatever tax situation I end up in, so I would like to buy my own ETFs on questrade. My basic plan is to use something like the couch potato strategy, being as tax-efficient as possible, and rebalancing with new savings when possible.
I'm unsure of how to get started. Obviously I could just open my accounts (tax shelters, cash accounts, spouse's accounts), do 1 hour of reading on tax efficiency and dump all of my money into 60% equity and 40% bonds according to my favourite Bender-Bortolotti recommendation. But I'm hesitating to pull the trigger because I'm learning this stuff quite quickly and I'm sure to have an improved idea of what to do in 3 or 4 months, and I might wish I had bought something else. Selling a re-buying could be expensive if there are capital gains to be paid, for example.
Should I put the 300k into a high interest savings account and then buy the etfs 50k at a time over the next 6 months? Can I do all that on questrade, or another discount brokerage, or would I keep the savings at a bank instead?
As far as I know, questrade etfs can be bought for free, so maybe I should buy even smaller amounts.
Submitted December 11, 2017 at 09:41AM by bloopbloopfoobar http://ift.tt/2z1yZoG
