Efficiently invest USD
Have some USD which are sitting in US checking account. Don't really need them now but would like to keep in USD just to diversify in case CAD drops.
What is the best way to invest?😮
Converting from USD to CAD, moving to RRSP, buy US stock - would loose above 5% with $The Toronto-Dominion Bank(TD.CA$ which is ridiculous.
use 3rd party currency exchange,
move to RRSP,
buy Canadian stock which trades in US
do security transfer to us rrsp
buy us stock I want
Sounds reasonable?😮💨
How to exchange USD at the best rate in this case?😮💨
What is the best way to invest?😮
Converting from USD to CAD, moving to RRSP, buy US stock - would loose above 5% with $The Toronto-Dominion Bank(TD.CA$ which is ridiculous.
use 3rd party currency exchange,
move to RRSP,
buy Canadian stock which trades in US
do security transfer to us rrsp
buy us stock I want
Sounds reasonable?😮💨
How to exchange USD at the best rate in this case?😮💨
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Samanthaa : I am paid in USD so i have ready access to US cash, and avoid converting to CAD as much as possible.
Samanthaa Samanthaa: I do buy many Canadian tickers in both CAD and USD, like for example RY. When I need to rebalance, I just transfer x shares from USD to CAD (or vice versa), and this costs nothing and there is no exchange rate involved. That's the easiest method, in my opinion.
Nathan Hannah : I don't think you can transfer USD to US Rrsp account.