Hello
I have the following e-series funds in the TD Mutual Funds RSP Account with $1500 deposited in Dec 2009
20% CDN Bond
20% CDN Index Equity
30% US Index Equity
30% INTL Index Equity
I just opened up a TD Mutual Funds TFSA Account and did the same split with $1000 in Jan 2010
Now in the RRSP I plan to put $12000 (to max out my RRSP Limit this year of $13500) into a TD Money Market Fund and using dollar cost average, switch $1000 each month from the Money Market to buy the allocated e-series mentioned above (Starting End of Jan, so by Dec 2010, I have fully switched all Money Market funds to the e-seris)
For the TFSA I plan to put in $750 each month from my TD GIA Savings account starting End of Jan so that by Dec 2010 I will have maxed out my TFSA contribution.
Is there any fees associated with the Money Market beside the high MER%? What kind of fees should I expect at the end of the year since I put in $12000 and will be switching out $1000 each month.
I wanted to do this because I want to claim the full $13500 RRSP contribution for the 2009 Tax Season and this was the best way in my mind because there was no where else to park my claimed contribution and be able to buy e-series when I wanted to using dollar cost average.
Maybe someone has a better plan and can adjust/comment my process?
If anyone did something similar, would you please share your process?
Thanks
I have the following e-series funds in the TD Mutual Funds RSP Account with $1500 deposited in Dec 2009
20% CDN Bond
20% CDN Index Equity
30% US Index Equity
30% INTL Index Equity
I just opened up a TD Mutual Funds TFSA Account and did the same split with $1000 in Jan 2010
Now in the RRSP I plan to put $12000 (to max out my RRSP Limit this year of $13500) into a TD Money Market Fund and using dollar cost average, switch $1000 each month from the Money Market to buy the allocated e-series mentioned above (Starting End of Jan, so by Dec 2010, I have fully switched all Money Market funds to the e-seris)
For the TFSA I plan to put in $750 each month from my TD GIA Savings account starting End of Jan so that by Dec 2010 I will have maxed out my TFSA contribution.
Is there any fees associated with the Money Market beside the high MER%? What kind of fees should I expect at the end of the year since I put in $12000 and will be switching out $1000 each month.
I wanted to do this because I want to claim the full $13500 RRSP contribution for the 2009 Tax Season and this was the best way in my mind because there was no where else to park my claimed contribution and be able to buy e-series when I wanted to using dollar cost average.
Maybe someone has a better plan and can adjust/comment my process?
If anyone did something similar, would you please share your process?
Thanks