The only reason to be rebalancing 3-4/y is you are contributing this often, in which case I would simply try to contribute to the lowest value allocation. Both our RSPs hold bonds and equity and both have contribution room.
Most important is to maintain bond/equity allocation. To me, the breakdown of equities (C/US/Int) is not as critical to keep balanced perfectly.
That taxable US account is something I would avoid investing in unless I was filthy rich and travelling a lot to the US.
Taxable US account is set up with my current investment brokerage, and is just for buying and selling in US currencies only. The key benefit is that dripped funds / dividends don't get hit with the exchange fee each time, neither when you buy and sell whole stock positions. This reduces overall drag on the account by about 1% per year, depending on how active you are. If you buy and hold and use the dividends to buy Canadian dollar stocks, then there is little to worry about.
So, if you invest in US listed stocks, outside of registered funds, it is worth the consideration. I have only started the non-registered funds under my own control, so don't have quite enough to worry about.
Greatlaker -- good advice on the 5%/25%. I like it. I think I was very close to the 25%, plus had $75k cash to invest, and needed to move some money out of CDN index funds in the RESP, now that it was high, and move it to BOND, because we will withdraw a large amount in February 2018. That triggered the review for rebalancing and my wondering if the new higher BOND amounts in the RESP should be considered in the overall asset allocation.
Re: Rebalancing frequency.. With FIRE this past year and my oldest starting college, it has generated a lot of account and money shuffling. Two years ago it was rolling old employer accounts into one main account. Realizing that we "made" more in investments in the past 6 months than DH made working... that managing it efficiently is more valuable than all the time I have spent saving grocery money.... well, it is triggering round two of the clean up of accounts. I will take to heart the advice not to rebalance too often, though!
setting up a 5 year GIC ladder I looked into just buying 1yr and 2 yr bonds or GICs for the RESP. Honestly, when I saw the very very low returns, often 1% or less, and the total money of about $30k to set up across 1-3 years.. (remainder I am ok staying partly in index funds). well I just caved and upped the bond fund. $30k x 1% = $300. The bond fund may lose a few percent, or gain a few percent, but $300 is not worth crying about and gives me flexibility, and was a lot easier. My goal is to keep most of the grant money..and be happy. I will probably regret it, but only a little bit because the overall risk is low, (my DH is against bond funds right now, so I will get an "I told you so").
