RRSP VFV & VOO

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Hello,

I currently have 33k in VFV.TO in my RRSP.
I have a spare 30k waiting to be deployed.
Generally speaking, is it better to buy VOO with bigger sums of money than for me to top up VFV.TO and convert later? With the CAD to USD being not so good right now. What would make the most sense here? I plan on mainly having this account track the SP500. With my more riskier plays and CAD stocks in my TFSA.
I generally make lump sum purchases.

Thank you.

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Asked on May 8, 2023 1:18 pm
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Private answer

To be honest, it all comes down to personal preference in this regard. If you want to own USD, buy VOO. If you feel you want to hang onto your CAD right now because of a weaker dollar, buy VFV. Then you have the option of selling it at converting it to USD when the dollar gets some strength if you'd like.

I personally try to avoid buying USD when the dollar dips below $0.75.

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Posted by Dan Kent
Answered on May 9, 2023 12:32 pm
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