AI Legalese Decoder: A Game-Changer for Couch Potato Investors Planning Their Next Moves
- November 9, 2023
- Posted by: legaleseblogger
- Category: Related News
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In-depth look into my investment strategy and considerations for the future
About me:
I have been following the Canadian couch potato method for approximately 10 years, utilizing TD e-Series index funds. It is worth noting that CCP dropped the e-Series from his model portfolios in 2022. My investment portfolio currently consists of TFSA and non-registered accounts, with a specific allocation split between equities and bonds. Additionally, I have investments in Alterna Bank GICs, TFSAs, and RRSPs. I possess a strong understanding of investing and am comfortable with my current allocation, while also open to considering increased equities exposure to potentially take on more risk. The invested funds are not earmarked for any particular purpose at the moment, but may be used for future house renovations, travel, or other medium to long-term goals. I am currently debt-free aside from a mortgage and car loan.
How AI Legalese Decoder can help:
The AI Legalese Decoder can assist with deciphering any legal jargon or complex financial language that may arise in investment-related documents or communications. This can be particularly helpful when reviewing investment products, analyzing potential risks, or making informed decisions about portfolio adjustments.
What I like about this method:
The simplicity and automatic nature of the Canadian couch potato method are appealing to me. I find it easy to allocate funds and rebalance periodically, with dividends reinvested back into the funds.
How AI Legalese Decoder can help:
The AI Legalese Decoder can break down complex financial terms, investment strategies, or market trends, making it easier for me to stay informed and in control of my investment portfolio.
What I dislike:
One aspect I find challenging is the lack of transparency in monitoring my investment performance. I currently maintain my own Excel spreadsheet to track returns and market value, and it appears that my profits over the past 10 years have been relatively low, amounting to approximately $5500. Furthermore, the TD Easy Web platform, where I manage my investments, lacks in-depth statistics, graphs, and comprehensive information about my portfolio. Additionally, I have encountered confusion and surprise from TD Bank advisors regarding the availability of TD e-Series, which is the primary investment tool in my portfolio. Lastly, I am concerned about the high management expense ratios (MERs) associated with index funds compared to ETFs.
How AI Legalese Decoder can help:
The AI Legalese Decoder can provide clarity and understanding of investment terms and performance metrics, allowing me to monitor and assess my portfolio more effectively. It can also assist in navigating any potential discrepancies or confusion related to the availability and suitability of certain investment products.
Where can I go from here?
I believe that I could dedicate more time to actively researching and managing my investments. With access to better data, dashboards, and comprehensive information, I may be more inclined to spend additional time monitoring the performance of my portfolio. I am also considering the possibility of moving my portfolio to a different platform, such as TD Direct Investing, or exploring the option of transitioning to ETFs on another bank’s platform. I am comfortable with self-directed investing and prefer not to visit physical branches to open or transfer accounts. Additionally, I am seeking guidance on the timing of potential portfolio adjustments, especially in relation to TFSA limitations.
How AI Legalese Decoder can help:
The AI Legalese Decoder can aid in reviewing and comparing different investment platforms, products, and associated terms and conditions, ensuring that I make informed decisions about potential portfolio transitions or adjustments. It can also provide insights into the implications and timing considerations of shifting investments within TFSA accounts.
In conclusion, I appreciate any feedback or guidance on how to optimize and manage my investment portfolio moving forward. Thank you for your input and assistance in this matter!
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Original Content:
“AI Legalese Decoder is a software that uses artificial intelligence to decode and simplify legal documents. It helps individuals and businesses understand complex legal jargon in contracts, agreements, and other legal documents. By using AI technology, it can save time and money by quickly translating legal language into plain, easy-to-understand terms. This can be especially helpful for individuals and small businesses who may not have the resources to hire legal professionals to review their documents.”
Rewritten Content:
How AI Legalese Decoder can help with the situation:
AI Legalese Decoder: Your Solution to Complex Legal Documents
In today’s fast-paced, legal environment, understanding complex legal jargon in contracts, agreements, and other legal documents can be a daunting task for individuals and businesses. However, with the advancement of artificial intelligence, a revolutionary software known as AI Legalese Decoder has emerged as a game-changer. This innovative software utilizes cutting-edge AI technology to decode and simplify legal documents, making them easily understandable for non-legal professionals.
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FREE Legal Document translation
****** just grabbed a
I moved my efunds to Wealthsimple and bought etfs with the same allocation I had in efunds and got $500. If your portfolio is big enough perhaps try that?
You can buy e-Series at no cost with TD Direct Investing, and that includes more stats and analysis that youÔÇÖre looking for. Once you sign up for TDDI you can access it from EasyWeb or the app.
It looks like bonds make up a large portion of your portfolio and they have lost a ton of value over the past few years as interest rates rose. How have your returns been on the equities portion of your portfolio?
Couple things I picked out are that when talking about gains use percentages. Only $5000 gain seems low to you but is that on a million dollars or a hundred dollars?
ItÔÇÖs great that you are well read with investments however itÔÇÖs very hard to pick winners, despite all your research. [Here is a link about overconfidence bias. One of many behavioural finance topics.](https://www.investopedia.com/overconfidence-bias-7485796)
Boring simple and easy ETFs are the way to go. If you want higher return you will need to take more risk. Less GICs and bonds and more growth equities.
How old are you and when will you need the money? ÔÇ£I donÔÇÖt knowÔÇØ isnÔÇÖt an option. Time horizon is on of the biggest factors in building a portfolio
>I keep my own Excel spreadsheet of returns and market value and it seems like IÔÇÖve profited about ~$5500 over 10 years. That seems kind of low.
Why do you think it’s low?
I moved all my e-series to WebBroker. (Yes there’s fees to buy ETF, but I do it only once a year and like the convenience of TD for our family.)
>The TD Easy Web platform is pretty rudimentary. IÔÇÖd like to see more stats, graphs, and information about how the portfolio is doing.
WebBroker or any Brokerage would provide this. Also, I like the customer support better — it’s way faster.
>When being at TD Bank for other banking, the advisor has been a little surprised and confused about the TD e-Series, saying ÔÇ£I thought we closed thoseÔÇØ and ÔÇ£youÔÇÖre not supposed to be able to invest in those anymore.ÔÇØ
This is true, for EasyWeb. You’re grandfathered in. What’s the issue?
>MERs are expensive for an index fund and compared to ETFs.
Yes, so? This is why couch potato doesn’t recommend it anymore when there are all-in ETFs requiring no rebalancing.
IÔÇÖm in the same boat as you OP, how is your bond fund performing?
I pulled all my investments out of TD anything a few years ago. Had been putting money in for over 15 years and I was only up 65%.
I started investing before 2010, I canÔÇÖt remember which year exactly, so I started investing prior to the huge decade long bull run and was only up 65%. Their MER was killing me.
I still use TD direct invest but I wonÔÇÖt touch any of their products.
>As they say, itÔÇÖs boring. ItÔÇÖs simple. Easy. Automatic … I feel like I could commit a bit more time to actively researching and working on investing … With better data, dashboards, etc. perhaps IÔÇÖd be open to spending more time watching the portfolio.
Because backtesting indicates that the investors who use the simple, easy and automatic options usually outperform those who research and “work on” investing, it is often said that investments are like a bar of soap – the more you handle them the smaller they get.
If you need some motivation to stick with a the “couch potato” approach I suggest that you read *Balance: How to Invest and Spend for Happiness, Health, and Wealth* (Andrew Hallam, 2022).
You can move it to a brokerage and buy all in one ETFs that meet your risk tolerance. Some brokerages have free trading.
TD investing is fine, but costs to buy and sell.
>Because of the TFSA limitations I assume I would have to withdraw around the end of December and re-contribute in January 2024? Any other timing considerations I should think about?
Any transfers that are within the TFSA don’t impact contribution room. For a taxable account, the disposition is a taxable event that you report on your tax return.
The couch potato approach does not need an advisor, get a self-directed account and switch to ETFs. You will save their fees at a minimum and probably benefit from lower MERs as well (usually save about 2% total annually, which adds up quickly). There will tax consequences in a cash account from switching, not in the other registered ones.
You might want to swap your non-registered and TFSA investments. ItÔÇÖs generally more advantageous to have more equities in your TFSA and more bonds in your non-registered.
Personally, I would go full equities in your registered accounts, and target a bond level in your non-registered to match your target allocation.
eg if your portfolio is $100k and you want a 70/30 equities/bonds, with $50k room in your registered accounts, IÔÇÖd have $50k in equities in your registered accounts, and $20k in equities in your non-registered, with $30k in bonds in your non-registered. ItÔÇÖll be more tax efficient, as you can have your equities compound tax free.
Where can I go from here?
ÔÇó I feel like I could commit a bit more time to actively researching and working on investing.
ANSWER: or stick with couch potato strategy.Why change? The principle stays the same: passive investing. There is so much more info and of course reporting on internet about people beating the index but some say it a fools game
ÔÇó With better data, dashboards, etc. perhaps IÔÇÖd be open to spending more time watching the portfolio…ANSWER: no need to watch a couch potato portfolio…if you spend more time will only be watching noise…
It the long term increase why couch potato works
ÔÇó Would you move the portfolio to something else with TD, like TD Direct Investing? Another bankÔÇÖs platform and also move completely to ETFs? Obviously I am comfortable with self-directed and donÔÇÖt want to visit branches to open and transfer accounts…ANSWER: you are not alone with this dilemma. Check around reddit and red flag deals for other who have transfered e series or bought pure ETFs. Even Dan at couch potato got rid of his e-series. Boomer and Echo has recent post “RESP Portfolio Reboot Edition” where tackled you exact dilemma
ÔÇó Timing? Because of the TFSA limitations I assume I would have to withdraw around the end of December and re-contribute in January 2024?…ANSWER: this is a arbitrary deadline in grand scheme of things. Take time to be comfortable with you plan. No need to pack this onto seasonal stress… Any other timing considerations I should think about?…ANSWER: believe you can transfer tfsa as other mention
…best of success with this decision. At end of day you will continue to be on the up and up…
> IÔÇÖd like to see more stats, graphs, and information about how the portfolio is doing
I use a multi-ETF portfolio at Questrade along with third-party webapp Passiv, and it calculates my monthly trades to keep allocations (close to) balanced, and makes pretty graphs showing my progress. They have a partnership with Questrade that means the premium subscription is free, at least for now. The app saves me a lot of time and expense even compared to a 0.25% MER portfolio ETF, and even paying its full cost would be worth it (for me). Likewise with the small amount I pay in commissions to sell ETFs during annual re-balance, are worth it. Do the math yourself on your own portfolio size. I definitely like the overall experience and value proposition more than e-Series (although I used TDDI and it sounds like you’re using a grandfathered branch mutual fund account).
> I feel like I could commit a bit more time to actively researching and working on investing.
Researching brokerages, apps and ways to implement a passive strategy? Yes. Researching individual stocks, sectors and active strategies? No.
> Timing? Because of the TFSA limitations I assume I would have to withdraw around the end of December and re-contribute in January 2024?
You can do the TFSA that way for sure. You can also do a direct broker-to-broker transfer and bypass the entire timing issue. Doing this may cost ~$150 at the exiting brokerage, however many receiving brokerages will reimburse you. For RRSP there’s not really any choice, you must do the brokerage to brokerage. (This move does not constitute a withdrawal, that’s the trick)
If migrating from e-Series to ETFs, I suggest the “transfer in cash” option which prompts TD to sell all the mutual funds and transfer cash. The downside is you miss a few days-weeks in the market, the upside is no need to fight with the new brokerage (/pay them commissions) to sell the e-Series funds, or have problems with them being unsupported and waste a bunch of time.
Alternatively, just be at peace with it as-is and keep on contributing. That’s the important part.
Link to other forum has some further discussion from someone in parallel scenario which you might find useful: https://www.canadianmoneyforum.com/threads/goodbye-e-series-hello.145257/