Sentences with phrase «cesg in a money market fund»
I park the initial contribution and the CESG in a money market fund, which I then liquidate and buy four funds according to my asset allocation target (TD Canadian Bond Index eFund: 20 %, TD Canadian Index eFund: 20 %, TD US Index eFund: 35 %, TD International Index eFund: 25 %).
http://www.canadiancapitalist.com/ Not exact matches
In the CIBC RESP, CESGs earned on plan contributions are paid monthly and deposited directly to CIBC Money Market Fund.
The CESG is deposited into the account in a money market fund and can be used to rebalance the portfolio, say once every year.
Every other month (or so), the account should have enough contributions plus CESG payments in the money market fund to switch into other e-Series mutual funds.
If you opted to park your CESG payments in the TD Money Market Fund, do not forget to switch into other funds based on your asset allocation.
I'll mention that setting up a PPP for each of the e-Series fund purchase, letting the CESG accumulate in a Money Market fund and use it to rebalance the portfolio every few months.
One other point I should mention is that «switching» from the Money Market fund, once sufficient CESG grant has been accumulated in that fund, to an e-series fund is not considered a pre-authorized purchase, and a minimum purchase of $ 100 of a fund is required.
This generates $ 15 / month in CESG, which TD allows me to park in the Cdn Money Market fund.