Dual US/Cdn citizen residing in Canada advice on investing outside of RRSP?

[takeahike]

I have been trying to grasp how I should be investing outside of RRSP's. It's overwhelming. I've figured out that Questrade is good, and that as a US citizen residing in Canada I should only invest in US type funds due to tax issues. Anyone had to deal with this who can put me out of my misery of trying to figure it out? Also, TFSA's are no good for us either. I just want to keep it simple and make the smartest investment possible.

[daverobev]

Sounds like you just do US domiciled ETFs unregistered. Questrade are great, but don't use them to change currency unless you do Norbert's Gambit.

If you have enough to invest (>$100k USD), Interactive Brokers are good, though you'll either need to guess your limit orders or use another source for live data (eg... Questrade).

[takeahike]

Thanks.. and I've just recently learned what NG is!

[2lazy2retire]

Thanks.. and I've just recently learned what NG is!

Don't forget your Fat Cat and Fubars's

[takeahike]

Thanks.. and I've just recently learned what NG is!

Don't forget your Fat Cat and Fubars's

LOL! Fatca and Fbars.. yeah what a PITA! It's really depressing. I can't take full advantage of Canadian retirement strategies and none of the U.S. ones. I feel that I'm getting royally screwed by the U.S. govt. The only first-world country to tax citizens based on citizenship and not residency. Frustrating. Half the advice here I can't even take advantage of. Not to mention if I do invest I get exchange fee'd to death... because it is HIGHLY advised to NOT invest in canadian mutual funds in my situation.

[daverobev]

Thanks.. and I've just recently learned what NG is!

Don't forget your Fat Cat and Fubars's

LOL! Fatca and Fbars.. yeah what a PITA! It's really depressing. I can't take full advantage of Canadian retirement strategies and none of the U.S. ones. I feel that I'm getting royally screwed by the U.S. govt. The only first-world country to tax citizens based on citizenship and not residency. Frustrating. Half the advice here I can't even take advantage of. Not to mention if I do invest I get exchange fee'd to death... because it is HIGHLY advised to NOT invest in canadian mutual funds in my situation.

Well, RRSP room is something. You shouldn't be paying much to convert currency, not with N's G or a forex company (Canadian Forex, XE.com, etc). I mean, a 1% loss is a pain, but if you journal DLR.U -> DLR it should cost you virtually nothing (one sell on questrade, = $5).

[takeahike]

Thanks.. and I've just recently learned what NG is!

Don't forget your Fat Cat and Fubars's

LOL! Fatca and Fbars.. yeah what a PITA! It's really depressing. I can't take full advantage of Canadian retirement strategies and none of the U.S. ones. I feel that I'm getting royally screwed by the U.S. govt. The only first-world country to tax citizens based on citizenship and not residency. Frustrating. Half the advice here I can't even take advantage of. Not to mention if I do invest I get exchange fee'd to death... because it is HIGHLY advised to NOT invest in canadian mutual funds in my situation.

Well, RRSP room is something. You shouldn't be paying much to convert currency, not with N's G or a forex company (Canadian Forex, XE.com, etc). I mean, a 1% loss is a pain, but if you journal DLR.U -> DLR it should cost you virtually nothing (one sell on questrade, = $5).

I will be referring back to this. Thanks!