Investing

What do you do with " left over" cash sitting in your brokerage accounts?

  • Last Updated:
  • Jun 24th, 2016 5:40 pm
Tags:
None
[OP]
Member
Mar 17, 2004
454 posts
27 upvotes

What do you do with " left over" cash sitting in your brokerage accounts?

What does everyone do? I seem to always have some left over cash sitting in my brokerage accounts after buying stocks, etf's, mutual funds, dividend DRIP's etc. I'm not taking about huge amounts but a couple hundred spread accross several registered and non-registered accounts. TDDI pays interest on cash amounts but places like Qtrade do not. Most if not all HISA offered by brokerages seem to have a $1000 min. You can always top up with more cash but in the case of a maxed out RESP, it would be a waste to contribute any more money until the next year.
14 replies
Newbie
Jul 31, 2014
67 posts
78 upvotes
Vancouver, BC
Let it accumulate until you can buy more stocks?

Seems like a really strange question to ask, what else would you do with it?
Deal Addict
Sep 6, 2010
1935 posts
699 upvotes
Vancouver
Watch it grow until it gets to $100 and then I purchase one of the 3 TD e-series funds I own.
Deal Addict
Nov 9, 2013
4033 posts
3862 upvotes
Edmonton, AB
dealhunting wrote: What does everyone do? I seem to always have some left over cash sitting in my brokerage accounts after buying stocks, etf's, mutual funds, dividend DRIP's etc. I'm not taking about huge amounts but a couple hundred spread accross several registered and non-registered accounts. TDDI pays interest on cash amounts but places like Qtrade do not. Most if not all HISA offered by brokerages seem to have a $1000 min. You can always top up with more cash but in the case of a maxed out RESP, it would be a waste to contribute any more money until the next year.
I have thought about letting it accumulate and then investing it into TD e series mutual funds to get the DRIP going, but in reality I just let it pool and then just try to invest it with my next equity purchase.
[OP]
Member
Mar 17, 2004
454 posts
27 upvotes
With my Td accounts its not much of an issue since Td pays interest on the pooling cash and doesn't have a $1000 min purchase on MF purchases.

My Qtrade accounts are the problem..... No interest paid on cash balances and $1000 minimums.

It just seems like a bit of a waste to let thw money sit there and do nothing while I wait for it to accurate.
Banned
Mar 11, 2016
2081 posts
866 upvotes
wait for the dollar to hit .92 and buy a used 2014-2015 C7 Vette in the US for 45k
Deal Fanatic
User avatar
Nov 2, 2013
5533 posts
1416 upvotes
Edmonton, AB
I just leave it until it collects enough to buy more shares without the commission making it unworthwhile. Or play an extremely speculative penny stock.
Consultant, Operator/Trucker
  • Oilfield & Industrial Services, Road Construction
  • Tax & Finance
  • In the Western Canadian Oilfield since 2013
Deal Addict
Dec 3, 2014
2348 posts
1820 upvotes
Ontario
dealhunting wrote: With my Td accounts its not much of an issue since Td pays interest on the pooling cash and doesn't have a $1000 min purchase on MF purchases.

My Qtrade accounts are the problem..... No interest paid on cash balances and $1000 minimums.

It just seems like a bit of a waste to let thw money sit there and do nothing while I wait for it to accurate.
Given how the markets have been performing your cash has probably performed better than many of your investments.
Deal Addict
User avatar
Feb 1, 2012
1563 posts
2280 upvotes
Thunder Bay, ON
I put it in TD Balanced Index fund (TDB965) until I have enough for an ETF purchase or need to rebalance. It's not an e-Fund, so I think it is available at any brokerage.

http://canadiancouchpotato.com/2010/09/ ... ndex-fund/
I solemnly swear, to never assume I have an inkling at which direction the market will head, and to never make any investments based on a timing strategy.
Deal Addict
Sep 6, 2010
1935 posts
699 upvotes
Vancouver
dealhunting wrote: With my Td accounts its not much of an issue since Td pays interest on the pooling cash and doesn't have a $1000 min purchase on MF purchases.

My Qtrade accounts are the problem..... No interest paid on cash balances and $1000 minimums.

It just seems like a bit of a waste to let thw money sit there and do nothing while I wait for it to accurate.
Buy one of their commission free ETF's....
Member
Feb 8, 2010
326 posts
35 upvotes
Toronto
gwplant wrote: Buy one of their commission free ETF's....
Nope. Also $1K minimum for commission to be waived.
Sr. Member
Oct 11, 2010
976 posts
322 upvotes
Charlottetown
With Questrade ETFs being commission free I invest every cent of spare cash I have in my account that I can, unless I'm short to purchase a single share in which case I'll wait until my next deposit and then invest it.
Deal Addict
Sep 6, 2010
1935 posts
699 upvotes
Vancouver
canuckchris wrote: Nope. Also $1K minimum for commission to be waived.
Your investment portfolio is less than $1K??
Member
Feb 8, 2010
326 posts
35 upvotes
Toronto
gwplant wrote: Your investment portfolio is less than $1K??
No. The OP wants to invest balances less than $1000, which is Qtrade's minimum for mutual fund purchases, and to get the commission waived when buying/selling one of their 60 free ETFs.
[OP]
Member
Mar 17, 2004
454 posts
27 upvotes
canuckchris wrote: No. The OP wants to invest balances less than $1000, which is Qtrade's minimum for mutual fund purchases, and to get the commission waived when buying/selling one of their 60 free ETFs.
Thats exactly it.

I always seem to have a couple hundred dollars, thats spread across several Qtrade accounts, sitting around doing nothing. Not worth buying stocks or etfs and paying commission on such small amounts. And not enough to meet the $1000 minimum Qtrade imposes on Mf's and their free ETFs.

Can't put it into an hisa like alt5000 since I don't meet the minimum amount.

Top