Moving TFSA Canadian Money Market money back into savings?
Going to preface this by saying that I know I totally jumped the gun, and I clearly need to do more research before deciding things. But I didn't, and here I am panicking. This is a good lesson to learn to just, do my own research first before jumping into something I have no idea about.
I'm currently with RBC, and I have a TFSA with them. We were going over mutual funds, and I had extra contribution room, so I just agreed and went ahead with the purchase, but I think I messed up, and is there any way to hit the reset button without any fees? I know I have 48 hours to cancel, and if I move money within RBC, there shouldn't be additional fees (I think??), but I'm still worried if this is even a good idea.
$9000 in total was moved from my savings into TFSA. $7500 was moved into the Canadian Money Market to use to contribute weekly $100 into the RBC International Dividend. RBC Emerging Markets, and RBC Global Technology Fund. Because I had my appointment after 4, we didn't buy any of these stocks ($500 for each, so $1500 in total). So nothing has technically been bought yet, I don't have any pre-authorized contributions that need to be cancelled. But I did have a profile set up and signed my consent from an advisor (he was going to call me on Saturday to actually buy). But the MRE/management fee is 2.1%/1.75%. That's kind of a lot? So I'm wondering if I can hit cancel, move the $7500 and $1500 back into my savings. Cancel the stock purchase and the weekly $100. Will they charge me for all of that or is there some other hidden fee?
Or am I jumping the gun again and this is fine?? Or not that big of a deal? I saw that wealth simple was far better and these 3 rbc funds I can find similar options instead and invest that way with lower fees.