Quote:
Originally Posted by dn53
I put a small amount of money away in my TFSA via td using their e series index funds-- pre authorized every month. I am by no means a finance pro but low MER seems like the way to go. My goals are for long term savings. TD advised against it, but I'm not sure if they were just trying to sell me or what  I've read the wealthy barber and some stuff on the internet..
Open for comments and criticism  |
TSFA is one of the best things about being a Canadian. Use it!
As for e series, im not sure what the MER (Management expense ratio) is on that. If its over 1%, i would really doubt its efficacy.
You could always open up a TSFA account under questrade.com or virtualbrokers and pick up a lower MER index fund ETF. S&P60 for Canada or S&P500 for USA stocks . The S&P500 for eg has a MER of 0.08% (or 0.06%, i forget)
Those financial advisors are sharks man. Car salesman of the finance world. Why trust in their advice when their commissions are directly related to what they can sell you.