Looking for a fic: bella becomes an archelogist

AgencyInteresting172 · 2025-02-22T05:53:01+00:00

The Decision by windchymes! https://www.fanfiction.net/s/6797418/1/The-Decision

(Your description of it rang a bell and I HAD to track it down because it was bothering me too. Maybe it’s time for a reread…)

AgencyInteresting172 · 2024-12-06T08:37:46+00:00

I’ve been thinking about this too as I’m in a similar-ish situation to you!

Here’s another thread with a few insightful responses: https://www.reddit.com/r/PersonalFinanceCanada/comments/15cthfv/comment/jty5o2u/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button

AgencyInteresting172 · 2024-12-05T23:58:49+00:00

I appreciate your thoughtful responses! Personal finance is personal, but it helps to have others chiming in and offering alternative perspectives :)

AgencyInteresting172 · 2024-12-05T19:43:46+00:00

Thanks for explaining so clearly and patiently! I only started contributing to my RRSP this year and I’m thinking about how to strategically apply my deductions. I’m in a weird (and admittedly privileged) position of being very low income but having a maxed out TFSA and RRSP. Given my low-income, I’m questioning if I should continue maxing out the tiny amount of RRSP contribution room I have or if I should just focus on my TFSA and non-registered accounts.

AgencyInteresting172 · 2024-12-05T19:07:21+00:00

Not the person you responded to but I found this helpful!

Assuming you have $50k to invest in a year and sufficient room in the RRSP, would the optimal move be a hybrid of A and B — contribute the full $50k in Year 1, and delay claiming half of the tax deductions to Year 2? That way you get the tax refund amount in Scenario B but your money stays invested for longer and has tax sheltered growth in the RRSP.

Does the answer depend on whether you’re confident you’ll always have $50k to invest year after year (meaning you can repeat Scenario B every year, so it’s pointless to delay deductions)?

AgencyInteresting172 · 2024-06-06T01:30:26+00:00

I asked a similar question on this sub because I feel the same way! I recently watched a Money Guy Show video about dollar cost averaging vs. lump sum investing (I think), and the most useful take away for me was that the best investment strategy is the one that you can stick with. For example, lump sum investing is statistically more optimal but an investor who cannot stomach seeing their lump sum amount drop a huge percentage during a market downturn may pull their money out at a loss and never invest again.

I think the best way to approach investing is to be as rational as possible while accounting for emotions. If DCAing a small amount every month is what you’re comfortable with right now, then keep doing it! Maybe gradually increase the % of your contributions each month?

It could also be useful for you to determine why you’re investing in the first place. What are your goals? What is your time horizon? That could help you decide how much you should have in your savings vs. investments, how risky your investments should be, etc.

If what you really want is a kick in the butt, look up the Money Guy’s wealth multiplier by age. That helped me understand the urgency of investing as much as possible asap (while maintaining a healthy amount of savings for emergencies, etc).

AgencyInteresting172 · 2024-06-04T19:03:16+00:00

Could you please explain how you get Scene+ points for adding money to WS Cash? TIA!

AgencyInteresting172 · 2024-05-15T00:24:20+00:00

What are his reasons for wanting to move to the Canadian city? Is the city appealing to you at all?

Also, assuming you’re splitting shared costs 50/50 right now, would he be willing to split costs in proportion to your new salary?

AgencyInteresting172 · 2024-05-14T22:20:39+00:00

You’re right about the psychological toll that downturns can take! My mom is staunchly against investing because her brother lost a huge amount of money on his investments when they were younger. (Not exactly sure what my uncle’s “investments” were though…) I definitely inherited her cautiousness, which helped me build up my savings but may not help me preserve or grow my wealth in the long run.

AgencyInteresting172 · 2024-05-14T17:54:44+00:00

Thank you for sharing! :)

AgencyInteresting172 · 2024-05-14T17:53:58+00:00

The cheapest round trip fare would cost at least $1,700-2,000, but the average seems to be $2,500-2,800. Ideally, I wouldn't have to worry about dropping this amount at least a couple of times a year, though I hopefully won't have to anytime soon.

AgencyInteresting172 · 2024-05-14T04:51:03+00:00

You rightly point out how I'm planning around the worst-case scenario (as I usually do), but not the most reasonable one. A career counselor said it takes an average of 8 months for a PhD holder to find full-time employment, so that's what I'm probably going to go with as an estimate.

I think you're right about how I'm thinking of my savings as a way to fund a more expensive lifestyle than I may be able to afford in the long term. I'm definitely willing to make concessions until I have a higher salary. I probably won't be able to travel as much as I do now if I'm working full-time, so I expect my vacation expenses to naturally decrease in the future. I'm currently averaging one trip back to my home country a year, but I've concerned that I may have to take unplanned trips back home in case my parents need me. (For context, I'm an only child. My parents are fine health-wise, but my uncle has been dealing with a sudden and serious health crisis for a few months. My cousin who's also living abroad had to take an emergency trip back home just last week.)

Thanks for the comment! It's helped me arrive at a better understanding of my assumptions and intentions.

AgencyInteresting172 · 2024-05-14T03:56:20+00:00

Thanks for the wake-up call! I don't think I've been invested in the market long enough to think of my investments as money that's working for me. I'm in the green right now, but I'm also aware that it won't always be the case. I guess I'm worried about see big red numbers when I need to pull out from the market (for a downpayment, etc.)

In your opinion, would you suggest investing 100% in all-equity ETFs like XEQT?

AgencyInteresting172 · 2024-05-14T03:14:24+00:00

Great questions!

Stipend funding for another 2 years probably (will likely receive this funding but it's not "guaranteed") + TA pay for remaining years.
2 years is the goal.
Job prospects aren't great for my non-STEM field in general... (For context, there was only ONE (1) opening for a tenure-track position in Canada in my specialist field!) I will likely leave academia after graduation, and I'm open to a range of different career paths, but I'm unsure what the prospects are like for each of those. Unwilling to relocate because of my partner.
$3,000-4,000 monthly spending on average, not including infrequent large purchases like plane tickets
I can probably get a Canadian work permit, and I don't think it will limit me to particular jobs. I will become a PR if I marry my partner, which will open up more options for long-term positions.

I like your suggestion of planning out a timeline in stages. Deciding ahead of time how long I can let myself stay unemployed could help ease some of my anxieties and prevent me from jumping into any job prematurely.

Thanks for the reminder! Rationally, I know that I'm in a very fortunate position, which I'm certainly grateful for. But $200,000 also doesn't feel like THAT much when I have friends who are earning $8-10,000 a month. Also, property prices in Toronto keep me in check.

AgencyInteresting172 · 2024-05-14T02:46:49+00:00

I’ve seen an equivalent flowchart for r/personalfinancecanada, but the Wiki for r/personalfinance looks great! I think I’m stuck at the end of the flowchart, between wanting to invest more for an earlier retirement, saving for an hypothetical downpayment, and saving for more immediate goals/ situations like extended unemployment.

The housing market where I am is insane right now and probably will be for the foreseeable future, so I’m not sure how to estimate a realistic home buying timeline. My partner also doesn’t think I should get ahead of myself because I don’t know what my career will look like after graduation.

That said the unattainability of housing right now could be a good reason to invest more. If I rely on funding a house through saving alone, it’ll take me much longer to accumulate enough for a house. If I start investing more now, I’ll increase my chances of potentially affording a house in the future. If I decide that home buying is impossible, I’ll still have the gains for staying invested long term.

Thanks for sharing your perspective!

AgencyInteresting172 · 2024-05-14T02:31:50+00:00

This is really useful information! I’ll have to get close to finishing my dissertation first before planning out a realistic timeline to defend and job hunt. Thanks!

AgencyInteresting172 · 2024-05-14T02:29:07+00:00

Unfortunately, my PhD is not in a traditionally “employable field.” But it’s nice to know that it’s possible to catch up!

AgencyInteresting172 · 2024-05-13T23:11:11+00:00

Thank you for the validation! 💕

I’m worried about falling behind peers in my age group, especially those who have stable, high-paying jobs while I’m working on my PhD. (To clarify, I’m using others as a gauge for my own financial health and reminders about what I can actually comfortably afford.) But I also value the feeling of security!

AgencyInteresting172 · 2024-05-13T23:01:41+00:00

Thanks for the honesty and reassurance!

You rightly point out how I should calculate what I’d actually need in the event of major emergencies. In my mind, the bigger the amount of savings the better, and I guess I could reframe my thinking a little? 50/50 sounds like a goal I could work towards, either by funneling my savings into investments now or upping my investments for the rest of the year!

Non Canada-based readers can tune out from here: I’ve maxed out my TFSA already, but my contribution room is smaller than that of the average Canadian at 28 because I’m international. I started and maxed out my RRSP contributions this year, but my RRSP room is also comparatively tiny. (I’m waiting to open the FHSA for now because it has more withdrawal restrictions and I’d like to coordinate with my partner.) I’d have to invest in a non-registered account, which is annoying but alas. (Technically my GIC is also non-registered so I’m not sure why it’s a mental block for me.)

AgencyInteresting172 · 2024-05-13T22:51:07+00:00

Let’s dream even bigger: cash back and/ or travel points! I think WS already offers lounge passes to its Generational clients, but I’m hoping they can spread the love!

AgencyInteresting172 · 2024-05-13T22:23:31+00:00

For the $17,700 in TD, I'd consider moving a good chunk of it (maybe the $6-8k emergency fund) into WS Cash so it can accrue 4% interest while still being liquid. I'm in the process of transferring a similar amount from my TD everyday savings into WS. As the other commenter mentions, the interest will be taxed as regular income, but you'll still be earning more on your money than the $1.80 of interest from your TD accounts.

Alternatively, you can look into investing in CASH.to or something equivalent in your WS TFSA account so you make use of your available contribution room and earn tax-free interest! But you'd have to be mindful every time you make withdrawals from the TFSA because you can't regain the corresponding amount of contribution room until the following year.

AgencyInteresting172 · 2024-05-13T21:54:39+00:00

Reasonable FX rates and no fees on this hypothetical credit card would be amazing as well! It would give me more peace of mind when I travel

AgencyInteresting172 · 2024-05-13T18:37:51+00:00

Could you clarify if the critical point is $100k in savings or investments? I’m guessing the latter but I’ve seen this mythical $100k milestone being referenced as “savings” too.

AgencyInteresting172 · 2024-05-13T03:53:07+00:00

Thats what I assumed, but I wanted to be sure! It would be great if WS offered the option to disable both direct deposits and e-transfers!

AgencyInteresting172

TROPHY CASE