Author Topic: Mustachian Method for setting up an RRSP Account  (Read 1892 times)

Carlsky

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Mustachian Method for setting up an RRSP Account
« on: February 23, 2015, 05:25:40 AM »
I am setting up an RRSP account for my wife and I am looking for the recommendation on the preferred method to set up an RRSP account.  Do people use Questrade or TD E-Series or something else.

Any advice about a low cost method to set up an RRSP accound would be appreciated.

RetiredAt63

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Re: Mustachian Method for setting up an RRSP Account
« Reply #1 on: February 23, 2015, 06:49:21 AM »
It is so long since I set up my RRSP that I can't help.  But remember that the RRSP is just an umbrella, so being careful about management fees on what you put the money into under the RRSP umbrella will definitely matter.

FrugalToque did a guest blog on this for the MMM blog - I don't remember if he addressed this issue, but it was a good article and well worth your time to read (or re-read).

SK Joyous

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Re: Mustachian Method for setting up an RRSP Account
« Reply #2 on: February 23, 2015, 01:58:48 PM »
Hi Carlsky,

I set up both my and my husband's RRSP accounts with Questrade.  You can buy ANY ETFs completely commission-free with Questrade, I find their site pretty easy to use, and they have a great LiveChat system if you need help that has worked extremely well for me when I've had questions.  I don't believe there are any registered account fees either, but maybe check to see if there is a minimum account balance for there to be no fees.

Sayyadina

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Re: Mustachian Method for setting up an RRSP Account
« Reply #3 on: February 23, 2015, 02:08:33 PM »
I'll second Questrade. The only vaguely annoying thing was needing to send in certain signed forms for my husband when, for some reason, they wouldn't accept his electronic signature (like they did for me). But the almost complete lack of fees make it so much more worth it.

daverobev

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Re: Mustachian Method for setting up an RRSP Account
« Reply #4 on: February 23, 2015, 05:24:08 PM »
Questrade is cheapest, probably, but most hassle (no auto investment every month)

TD eseries is a slight hassle to start but ok after that.

Tangerine Balanced Growth or other fund of your choice is easiest, a one fund solution, but with a 1% MER.