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Email this2:57 am
January 31, 2021
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Does anyone know if it permitted to buy common shares from a listed Non Clearing Member (NCM) Exchange using a TD Direct Investing TFSA account or would a different trade account be required?
Do Canadian Bank Brokerages recognize and trade on and in the NCM Exchange?
9:57 am
May 12, 2016
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I have a self directed RRSP with Scotia bank that I bought stocks with so you should be able to use a self directed TFSA to. I put my TFSA funds into a Trust Company for and arms length private mortgage lending and earning amazing interest. Currently at 18%. I wish I would have discovered this years ago
10:31 am
January 12, 2019
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jojo said
. . . I put my TFSA funds into a Trust Company for and arms length private mortgage lending and earning amazing interest. Currently at 18%. I wish I would have discovered this years ago
No offence, but aren't those ⬆ Awfully Risky ❓❗
- Dean
" Live Long, Healthy ... And Prosper! "
10:45 am
May 12, 2016
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No not "awfully risky" Dean. I am in first and second mortgage position (TFSA and cash) on Title just like the bank would be. So I have security. Yes a measure of risk but not unsecured. One has to do the appropriate due diligence for sure but I have done this and found a Mortgage lender and Large company that I deal with that I trust. Also with a Trust Company involved for the TSFA portion they have laws they must abide by to. Honestly its all about mindset I found. The pay back in real estate is outstanding.
11:13 am
May 27, 2016
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Sorry, but I call BS on this entire line of discussion. Readers beware.
11:33 am
May 12, 2016
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Of course Londonguy you are entitled to your option. People can sick with the 2% in TFSA/GIC's savings account if thats where you feel safe. Just remember the bank takes that money and lends that money out for way more interest... they love folks who think like this. Like I said before its all about mindset. Have a great weekend
1:24 pm
May 27, 2016
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Yeah, that's my opinion, and I suspect that of a few other experienced people as well.
I think it's pretty clear to anyone reading this thread that either the story is bogus in the first place or you don't even understand the real risks of what you own.
Do carry on, however -- you might get lucky and not get burned.
9:09 am
January 12, 2019
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Londonguy said
Yeah, that's my opinion, and I suspect that of a few other experienced people as well.
I think it's pretty clear to anyone reading this thread that either the story is bogus in the first place or you don't even understand the real risks of what you own.
Do carry on, however -- you might get lucky and not get burned.
Not myself, but some people have Very High risk tolerances, and/or they don't understand (or are not aware) of the risks involved.
As for myself, I learned from my parent's experiences on this subject ... they have both lost BIG BUCKS investing through private mortgage outfits.
- Dean
" Live Long, Healthy ... And Prosper! "
9:55 am
December 12, 2009
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jojo said
No not "awfully risky" Dean. I am in first and second mortgage position (TFSA and cash) on Title just like the bank would be. So I have security. Yes a measure of risk but not unsecured. One has to do the appropriate due diligence for sure but I have done this and found a Mortgage lender and Large company that I deal with that I trust. Also with a Trust Company involved for the TSFA portion they have laws they must abide by to. Honestly its all about mindset I found. The pay back in real estate is outstanding.
I agree with this, Dean. It's not fair to characterize something as non-exchange-listed shares as "awfully risky." Indeed, there's many "awfully risky" exchange-listed shares or units as well.
In general, though, if the OP is referring specifically to non-exchange-listed MIC shares, I personally would not use a TFSA. Given the higher than normal potential for capital losses, I would want to be able to realize any capital losses, so would hold these in non-registered accounts only. As income-oriented vehicles, the potential for outsized capital gains is not there, so I can't justify trading off the loss of capital losses in a TFSA.
Cheers,
Doug
5:59 pm
October 21, 2013
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So, we are to believe that an investment which is not "awfully risky" provides an income of 18% in this day and age?
I know nothing about it, but, if there were such a thing, there would be so many people falling over themselves to get into it that it would be effectively closed to investors.
Looks like a duck, walks like a duck, and you tell me it's a horse?
9:16 am
December 12, 2009
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Loonie said
So, we are to believe that an investment which is not "awfully risky" provides an income of 18% in this day and age?
I know nothing about it, but, if there were such a thing, there would be so many people falling over themselves to get into it that it would be effectively closed to investors.
Looks like a duck, walks like a duck, and you tell me it's a horse?
Not sure if your reply was directed at my reply, but if it was, no, not at all. Yes, that would be awfully risky. I'm just saying we should be characterizing non-exchange listed company shares as "awfully risky" if no potential returns are specified—that's all.
Cheers,
Doug
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