Investing

Wealthsimple RESP

  • Last Updated:
  • Dec 28th, 2022 3:31 pm
[OP]
Jr. Member
Apr 20, 2012
111 posts
10 upvotes
Toronto

Wealthsimple RESP

Hi all,
I am wondering if someone can guide me through how money in RESP works in long term. I opened RESP account with Wealthsimple 4 years ago. Over 4 years, I am keeping an eye on growth/balance etc. I see sometime it goes up by $600 but another time down by $550 and sometime even in -, so basically, in 4 years at the time, I have just $50 earning, sometime 600 but another time all down to 0 and even in minus.
I am trying to understand how this investment works. If this is how balance fluctuates, it could be $0 earning or potentially in minus on the last day when it's time to take out the balance? then what's the point of depositing money in an investment account?
3 replies
Deal Addict
Jun 25, 2010
1524 posts
1059 upvotes
It probably depends on the questions you answered when setting up WS resp. Based on your risk level (based on your answers) WS resp invested your funds into probably I think in very conservative portfolio (if so far you’ve only made $50 in 4 years).
“There are the people who don’t know, and the people who don’t know that they don’t know”- Treva84
Newbie
Dec 27, 2022
1 posts
Sorry I don't know how to post a question so i am posting here.
I sent an email to wealthsimple for some questions many days ago, i didn't get any reply, I have checked my junk mail too. I called today at 10:00 a.m., the CSR said that she would send me an email within 5-10 minutes to answer my questions. Up till now I don't have any email. I have checked my email too. As well simple is not replying, can anyone tell me how can I see the transactions in my tfsa account managed by wealthsimple. I want to compare TFSA (self) with tfsa (managed) to know which account is better for me tfsa which I operate myself and tfsa managed.
Last edited by irtaza27 on Dec 28th, 2022 4:07 pm, edited 1 time in total.
Deal Addict
Jun 25, 2010
1524 posts
1059 upvotes
irtaza27 wrote: Sorry I don't know how to post a question so i am posting here.
I sent an email to wealthsimple for some questions many days ago, i didn't get any reply, I have checked my junk mail too. I called today at 10:00 a.m., the CSR said that she would send me an email within 5-10 minutes to answer my questions. Up till now I don't have any email. I have checked my email too. As well simple is not replying, can anyone tell me how can I see the transactions in my tfsa account managed by wealthsimple. I want to compare TFSA (self) with tfsa (managed) to know which account is better for me tfsa which I operate myself and tfsa managed. For me at least customer service is terrible.
Try checking in the activity tab.
“There are the people who don’t know, and the people who don’t know that they don’t know”- Treva84

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