- May 5, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Investing $40K in S&P500 ETFs: Seeking the Best Platform
Hello, I am looking to invest around $40,000 in an S&P500 ETF, specifically considering the Smartshares USF or iShares IVV options. Currently, I utilize Sharesies for smaller investments, but I am concerned about the transaction fees accumulating for larger sums.
Given the sizable amount I am looking to invest, I am seeking recommendations for a platform or broker with the lowest possible costs for investing in an S&P500 stock. I am wondering if there is a significant cost difference that would make it worthwhile to switch to a different platform to maximize my investment returns.
Thank you in advance for any guidance or suggestions!
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ETF’s are tax inefficiency in NZ. Off market funds are a better idea
If you want to buy the ETF directly, Interactive Brokers will have the lowest fees. You’ll pay 2 USD for the currency conversion, and maybe 1 USD in transaction fee (total fees ~0.01%). If your total foreign investments are less than 50k NZD, I’d recommend this option as you won’t have to pay FIF tax.
Otherwise check out the InvestNow foundation series, which is a PIE fund that handles the FIF tax internally, at your PIR which maxes at 28%, that is probably less than your personal income tax rate.
This guy goes into great detail:
https://moneykingnz.com/whats-the-best-sp-500-index-fund-in-2022/
Also highly recommend trying out his spreadsheet to see what would be the best for you.
https://docs.google.com/spreadsheets/d/1Mk8ySt97LDQtmaSM3gZ4_qSsKFEouahM9OAPPlbnIOs/copy
I would also look at Invest Now Foundation Series S&P Fund.
Definitely makes a difference, it all compounds over time – low cost platform/broker could end up saving you thousands in the long run.
I went with Tiger Brokers, also looked at Hatch and a couple of other ones but Tiger seems to be the cheapest of them all (at least for me).
e.g. Tiger’s FX fee NZD:USD 0.35% vs Hatch 0.5% – that will already save you a bit.
I’m investing monthly so I save even more since they’ve got this thing where they offer 4x fee free transactions and $2000 fee free currency exchanged every month – I think they’ve got a referral thing going too, will check.
BUT I went for FIF investments, you might still want to invest into the S&P500 but look at funds that are structured as a PIE for less tax? e.g. InvestNow’s Foundation Series US 500 Fund which is basically Vanguard’s S&P 500 ETF as a PIE.
If you investing for more than 3 years nothing beats Investnow foundation S&P500 for efficiency
I think this has been answered before on the sub. Try looking up kernel and smartshares
I personally use Hatch, but have shares spread out across Sharesies and Stake as well. From memory, I believe Hatch had lower fees when compared to Stake and Sharesies. This may have changed as this was about 8 months ago.
Have you looked into Milford? I know they also offer investment opportunities, although I am not familiar with how they work, sorry.