Comments on: How To Get Started in Commission-Free, Fee-Free Investing http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/ Canadian Dividend Stocks and DRIP Investing for Dividend Growth and Cashflow Sat, 06 Aug 2011 12:18:12 -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-3562 Shaila Sat, 24 Apr 2010 20:58:58 +0000 http://www.getmoneyenergy.com/?p=246#comment-3562 I got my first share for 7 companies in the share exchange board. See link: http://dripinvesting.org/Boards/BoardMsgs.asp?BID=8 Look out for group buys and be quick to respond. I got my first share for 7 companies in the share exchange board. See link:
http://dripinvesting.org/Boards/BoardMsgs.asp?BID=8

Look out for group buys and be quick to respond.

]]> By: MoneyEnergy http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3561 MoneyEnergy Sat, 24 Apr 2010 06:24:08 +0000 http://www.getmoneyenergy.com/?p=246#comment-3561 @Len - yes; I use TD - if you invest a large enough amount you'll make back your commission in no time. Same goes for the certificate cost. It's still too bad that we pay more than Americans do at TD Ameritrade (ripoff?), but hey, just buy some TD bank stock while you're at it. @Len – yes; I use TD – if you invest a large enough amount you’ll make back your commission in no time. Same goes for the certificate cost. It’s still too bad that we pay more than Americans do at TD Ameritrade (ripoff?), but hey, just buy some TD bank stock while you’re at it.

]]> By: Len Currie http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3560 Len Currie Fri, 23 Apr 2010 19:49:50 +0000 http://www.getmoneyenergy.com/?p=246#comment-3560 I should also post back and say that after calling my other broker TD.. they will do it for $50, but then you have to purchase the share as well which your commission costs may be anywhere from $30 to $10.. still MUCH better than $300!! I should also post back and say that after calling my other broker TD.. they will do it for $50, but then you have to purchase the share as well which your commission costs may be anywhere from $30 to $10.. still MUCH better than $300!!

]]> By: Len Currie http://www.getmoneyenergy.com/2009/04/commission-free-fee-free-investing/comment-page-1/#comment-3559 Len Currie Fri, 23 Apr 2010 19:08:33 +0000 http://www.getmoneyenergy.com/?p=246#comment-3559 Just an FYI for anyone else following this thread.. I just asked about DRIPs with Questrade, and they are of course the pseud-DRIP's which only allow purchasing in full shares, may not be tooo bad for a larger account, for for a smaller account.. useless as it would take forever to build up enough to buy a share. I then asked about getting a certificate.. yeah.. $300 to do it.. I'm now searching for alternatives. Just an FYI for anyone else following this thread.. I just asked about DRIPs with Questrade, and they are of course the pseud-DRIP’s which only allow purchasing in full shares, may not be tooo bad for a larger account, for for a smaller account.. useless as it would take forever to build up enough to buy a share.
I then asked about getting a certificate.. yeah.. $300 to do it.. I’m now searching for alternatives.

]]> 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.

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