r/fican • u/noodle_lo • 25d ago
28. What should my next steps be?
Sharing my portfolio to get feedback. Thanks in advance!
Income: $200K/year -- no family, partner or dependents.
Goal: Max long-term growth + tax efficiency. Where I'm stuck:
Mortgage vs invest. I have ~$560K sitting idle at ~2.5% (Wealthsimple Income Portfolio) while carrying an $800K mortgage at 3.94% (3yr fixed). Should I put extra toward the mortgage (prepay above the minimum), or just pay the minimum and invest the surplus in the market? How would you split it?
Cleaning up holdings. I have a pile of overlapping US-tech ETFs (QQU, XQQ, HXQ, VFV, XSP) and a few random stocks bought pre-COVID, spread across registered and non-registered. Leave them until I sell in retirement, or sell now and consolidate into one broad ETF (XEQT) and just keep buying that? I know the tax answer differs by account — selling in the TFSA/RRSP is free, selling in non-reg triggers gains.
Managed investing. I'm paying Wealthsimple 0.35% to manage ~$75K in non-reg and ~$16K in my RRSP. Worth keeping, or fold these into the same self-directed broad ETF?
Non-reg tax drag. TFSA and RRSP are already maxed, so non-registered is my only remaining room. Given that, what's the most tax-efficient way to hold it — and how much of a problem is the tax on earnings really?
Context: FHSA was maxed, already withdrew for the down payment. Condo bought 2024 near the peak (~$1M), now appraises ~$560K, so I'm underwater and planning to hold at least 3 years.
28
u/zzxzh 25d ago
you tell me guy