Comments on: How To Get Started in Commission-Free, Fee-Free Investing http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/ DRIP Investing for Dividend Growth, Cashflow and Financial Freedom Wed, 17 Mar 2010 17:23:47 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: shaila http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3375 shaila Wed, 27 Jan 2010 05:31:30 +0000 http://www.getmoneyenergy.com/?p=246#comment-3375 Is it more expensive to get my first share for a DRIP account using money paper (http://www.directinvesting.com) compared to through a discount broker? Which do you recommend? Is it more expensive to get my first share for a DRIP account using money paper (http://www.directinvesting.com) compared to through a discount broker? Which do you recommend?

]]> By: shaila http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3374 shaila Wed, 27 Jan 2010 03:56:07 +0000 http://www.getmoneyenergy.com/?p=246#comment-3374 Hey there, I am confused as to what my next step should be. Say if I want to DRIP BMO, I need to first buy some BMO stocks (lets say $500 worth). I have an RRSP account with BMO investorline already to trade stocks for my RRSP. DRIPs have to be outside RRSP. What kind of an account do I need now? I just asked for a non-registered account and they said unless I have a balance in excess of $100K, there is a fee of $22/quarter. I am so confused!! Another thing, can I DRIP inside a TFSA? If yes, how does this work? Hey there, I am confused as to what my next step should be.

Say if I want to DRIP BMO, I need to first buy some BMO stocks (lets say $500 worth). I have an RRSP account with BMO investorline already to trade stocks for my RRSP. DRIPs have to be outside RRSP. What kind of an account do I need now? I just asked for a non-registered account and they said unless I have a balance in excess of $100K, there is a fee of $22/quarter. I am so confused!!

Another thing, can I DRIP inside a TFSA? If yes, how does this work?

]]> By: MoneyEnergy http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3373 MoneyEnergy Wed, 27 Jan 2010 01:06:30 +0000 http://www.getmoneyenergy.com/?p=246#comment-3373 @bony - you can deposit your certificate back with the broker you bought it from. "Depositing" will put it back into the broker's name, it will be in your account, and from there you can sell it like any other stock. @shaila - I have never heard of a quarterly fee for holding funds/stocks outside of an RRSP. Waterhouse doesn't do this. What type of non-RRSP account are you talking about? You don't need to pay any fees just to have a brokerage account. Ask them if it's free if you're signed up for online brokerage services (i.e., electronic brokerage services). As for doing a DRIP in a TFSA, you could arrange one of those "synthetic" or "pseudo" DRIPs - where you call and ask the brokerage to reinvest dividends. But they will only reinvest if your divs are large enough to buy at least one whole share. @bony – you can deposit your certificate back with the broker you bought it from. “Depositing” will put it back into the broker’s name, it will be in your account, and from there you can sell it like any other stock.

@shaila – I have never heard of a quarterly fee for holding funds/stocks outside of an RRSP. Waterhouse doesn’t do this. What type of non-RRSP account are you talking about? You don’t need to pay any fees just to have a brokerage account. Ask them if it’s free if you’re signed up for online brokerage services (i.e., electronic brokerage services). As for doing a DRIP in a TFSA, you could arrange one of those “synthetic” or “pseudo” DRIPs – where you call and ask the brokerage to reinvest dividends. But they will only reinvest if your divs are large enough to buy at least one whole share.

]]> By: shaila http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3372 shaila Tue, 26 Jan 2010 22:11:01 +0000 http://www.getmoneyenergy.com/?p=246#comment-3372 Hi, my discount broker is BMO. I have a RRSP account with them. I just called and they said that to open a non-RRSP account I have to pay $22/quarter. Ques 1: Is there a way around this? How can I buy my first share from discount broker without paying annual fees? The fact that I have an RRSP account with BMO doesn't seem to make a difference. Ques 2: Can I DRIP inside a TFSA? Hi, my discount broker is BMO. I have a RRSP account with them. I just called and they said that to open a non-RRSP account I have to pay $22/quarter.

Ques 1: Is there a way around this? How can I buy my first share from discount broker without paying annual fees? The fact that I have an RRSP account with BMO doesn’t seem to make a difference.

Ques 2: Can I DRIP inside a TFSA?

]]> By: bony http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3371 bony Tue, 26 Jan 2010 20:09:23 +0000 http://www.getmoneyenergy.com/?p=246#comment-3371 Hi; Good job! I am wondering if you need to cash back your money How do you sell your certificat ? Thks Hi;
Good job! I am wondering if you need to cash back your money How do you sell your certificat ?
Thks

]]> By: MoneyEnergy http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3257 MoneyEnergy Sun, 03 Jan 2010 12:08:52 +0000 http://www.getmoneyenergy.com/?p=246#comment-3257 @AJ - I don't personally have DRIPs in RRSPs, but I imagine that if you have a self-directed RSP you could arrange to "synthetically" DRIP the stocks you're interested in. I know that all the main DRIPs are RRSP eligible. Someone please correct me if I'm wrong. How do you guys keep your DRIPs in RRSPs? Keep in mind that dividends are taxed at a more favourable rate than interest and employment income... you might consider putting them in your TFSA, too. @AJ – I don’t personally have DRIPs in RRSPs, but I imagine that if you have a self-directed RSP you could arrange to “synthetically” DRIP the stocks you’re interested in. I know that all the main DRIPs are RRSP eligible. Someone please correct me if I’m wrong. How do you guys keep your DRIPs in RRSPs? Keep in mind that dividends are taxed at a more favourable rate than interest and employment income… you might consider putting them in your TFSA, too.

]]> By: badcaleb http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3254 badcaleb Fri, 01 Jan 2010 22:59:48 +0000 http://www.getmoneyenergy.com/?p=246#comment-3254 @MoneyEnergy - Thanks for responding. Happy New Year. @MoneyEnergy – Thanks for responding. Happy New Year.

]]> By: AJ http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3253 AJ Fri, 01 Jan 2010 22:47:12 +0000 http://www.getmoneyenergy.com/?p=246#comment-3253 Hi there, I'm about to start with a DRIP and wanted to know how I ensure that it's a registered for tax-savings purposes. I want to move some money that I have in an RRSP savings account into a few DRIPs. How do I make sure the funds remain RRSP eligible? Thanks! Hi there, I’m about to start with a DRIP and wanted to know how I ensure that it’s a registered for tax-savings purposes. I want to move some money that I have in an RRSP savings account into a few DRIPs. How do I make sure the funds remain RRSP eligible?

Thanks!

]]> By: MoneyEnergy http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3249 MoneyEnergy Fri, 01 Jan 2010 20:06:30 +0000 http://www.getmoneyenergy.com/?p=246#comment-3249 @badcaleb - As far as I know, certificates will never be for fractional amounts. The company/transfer agent will send you a check for the fractional amount instead. And no, you would not receive certificates with each purchase unless and until you specifically ask for a certificate for X shares. @badcaleb – As far as I know, certificates will never be for fractional amounts. The company/transfer agent will send you a check for the fractional amount instead. And no, you would not receive certificates with each purchase unless and until you specifically ask for a certificate for X shares.

]]> By: badcaleb http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3248 badcaleb Fri, 01 Jan 2010 19:32:35 +0000 http://www.getmoneyenergy.com/?p=246#comment-3248 Hey, thanks for doing this, very informative. If I buy 100 shares and get those shares certificated, the company will send me a share certificate that specifies 100 shares. If I DRIP or purchase additional shares through SPP, will I receive additional certificates or is a new share certificate sent with the total amount. Will any certificates show fractional share purchases in the case of a DRIP? And how is the SPP share price determined if you purchase that way. Thanks. Hey, thanks for doing this, very informative. If I buy 100 shares and get those shares certificated, the company will send me a share certificate that specifies 100 shares. If I DRIP or purchase additional shares through SPP, will I receive additional certificates or is a new share certificate sent with the total amount. Will any certificates show fractional share purchases in the case of a DRIP? And how is the SPP share price determined if you purchase that way. Thanks.

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