Advice for Proper Diversification
Was hoping to get some of your very knowledgeable opinions to help me properly set up my portfolio for maximum diversification. I am newer to investing and have always planned to do it independently. I find bank/bankers to be difficult and disrespectful towards clients who are younger and just starting to build and organize their finances. I am with TD and if it weren't for the ease of TDDI I would be long gone.
Anyways.... I have started my portfolio in my TFSA, which currently holds.
125 shares of T
120 shares of Fortis
100 shares of ENB
205 shares of CHR
$1500 cash
I would love to max out my TFSA, but am currently working towards paying off mortgage, saving, starting family (currently my wife and young son), so I will have to work towards contributing as much as I can, when I can. My wife has roughly 16k in her TFSA and another 7k in an RRSP. This is on top of our cash in checking and savings accounts.
Both my wife and I have good pensions, so RRSP at this point, till we need tax deferral, doesn't make sense ( I don't think).... I have an RRSP, that I have just recently transferred over to TD, from Manulife that was started and contributed towards during a previous job. There is 20k in the RRSP.
Since I cannot technically access the cash without a massive tax hit, I would like to couch potato invest it. My question is, since the model portfolios aim to diversify through all the markets, do I consider my stock holdings to be Canadian investments in my portfolio and count it towards the allocation % outlined in the models? Or do I take the 20k and invest them in the ZAG, VCN, XAW (I figure the ETF portfolio works best?), in whatever % risk I decide?
Hopefully that makes sense.... Any advice would be appreciated.
Anyways.... I have started my portfolio in my TFSA, which currently holds.
125 shares of T
120 shares of Fortis
100 shares of ENB
205 shares of CHR
$1500 cash
I would love to max out my TFSA, but am currently working towards paying off mortgage, saving, starting family (currently my wife and young son), so I will have to work towards contributing as much as I can, when I can. My wife has roughly 16k in her TFSA and another 7k in an RRSP. This is on top of our cash in checking and savings accounts.
Both my wife and I have good pensions, so RRSP at this point, till we need tax deferral, doesn't make sense ( I don't think).... I have an RRSP, that I have just recently transferred over to TD, from Manulife that was started and contributed towards during a previous job. There is 20k in the RRSP.
Since I cannot technically access the cash without a massive tax hit, I would like to couch potato invest it. My question is, since the model portfolios aim to diversify through all the markets, do I consider my stock holdings to be Canadian investments in my portfolio and count it towards the allocation % outlined in the models? Or do I take the 20k and invest them in the ZAG, VCN, XAW (I figure the ETF portfolio works best?), in whatever % risk I decide?
Hopefully that makes sense.... Any advice would be appreciated.