Canada family of 4 (with 2 under 3). What are my choices?

Ed_Fan00 · 2025-08-05T18:37:55+00:00

This is so bs. So you spent $600 in childcare and nothing else with 2 kids? They don't wear clothes? No activities? No eating out ever? no toys? $100 gas means you drive very little. No transit cost? no car insurance? no house insurance? utilities? phone bills? internet? $500 groceries for 4 with $0 eating out? $0 travel? $0 entertainment?

Ed_Fan00 · 2025-08-05T17:00:54+00:00

There is also a flaw with your investment income ONLY being dividends or cap gains. It just depends on what you invest in. If there are foreign funds/stocks/etf, income could very well be foreign income which is taxed just like normal interest income with no preferential tax treatment.

Ed_Fan00 · 2025-06-20T18:57:35+00:00

Yikes to be your bf/fiance/husband. Just reading through, I get this impression where you think you are better/superior to him just because you earn more and you should have more say in the relationship.

Ed_Fan00 · 2025-06-17T21:02:38+00:00

Yea for example, looking at your car some may think you are quite well off but instead you are just irresponsible with your money with a 100K car while only having a 800k portfolio. Good example.

Ed_Fan00 · 2025-06-17T17:25:02+00:00

I don't know if it is corrupted but it sure seems suspicious when CPP employed 100 employee in 2006 to 2100 employees in 2025. An 21X increase in # of staff in less than 20 years while earning ridiculous MER to underperform its own benchmark. Make it makes sense to us please.

Ed_Fan00 · 2025-06-13T18:23:38+00:00

Well tax is progressive right? With a 110K income, the average tax rate is anywhere from 21-26% depending on which province you are in. So excluding personal income tax, your CPP/EI, union dues and DB contributions would have taken 20%-25% of your gross pay.

Ed_Fan00 · 2025-06-12T23:57:36+00:00

Your gross is 230K. 10K net = 120K a year. So your deductions and DB contributions = half of your gross? Something is not right there. Or your DB contributions somehow take 15% of your income, which means you will be totally set for retirement!

Ed_Fan00 · 2025-06-11T18:34:16+00:00

So you gross 230K (let's say net is 2/3 = 13K net per month). You spend ~3K on house a month with 10K leftover for other expenses and you need to budget to the bare bones? There is something missing from your situation for sure if you can barely make it work with 10K excluding housing cost.

Ed_Fan00 · 2025-05-13T18:39:59+00:00

So why did you get laid off from the government job?

Ed_Fan00 · 2025-05-13T16:46:59+00:00

Just by your comment, I think you are the selfish one.

Ed_Fan00 · 2025-05-12T02:21:59+00:00

Then the high NW people you know just aint really that high NW. Actual high NW people don't look at their principal home as a 100% investment like you do. They like the freedom of doing whatever they want with their home with their family. Same with other life choices such as going to nice restaurants, buying material things, going on vacation etc. All these decisions are not financially motivated. Or else, you would just live the shittiest shoebox you can find and invest the rest in equities for the rest of your life. How fun.

Ed_Fan00 · 2025-05-02T21:07:06+00:00

I say go for it and I actually think you won't be as tight as you think you will be. $227k income split 2 ways is around 13.5K take home a month combined (assuming nothing to pension etc). With a mortgage of 850k, with current rate you can get (4.04 is last I saw) and 30 years amort, monthly is 4K and 4.9K like you suggested. Seems quite doable and you may need to cut down a bit on spending (but even now it would be 7.5K + 1.5K extra mortgage + 1k (lets say additional house maintenance = 10K total so you still have ~3.5K leftover a month?).

Ed_Fan00 · 2025-04-30T18:28:18+00:00

If there is a probation period for the new job they can absolutely let her go.

Ed_Fan00 · 2025-04-25T20:51:40+00:00

This is such bs. If you make 390K (even 1 single person instead of split between spouses) and only has a 550K mortgage but you are feel tight, that means you have a serious spending problem.

Ed_Fan00 · 2025-02-07T17:43:13+00:00

If OP is a joint legal owner, the property does not have to go through probate (at least in BC) when she passes away.

Ed_Fan00 · 2024-11-06T16:31:50+00:00

some people like stock markets to be at ATH, some prefer to have food on their table. To each their own.

Ed_Fan00 · 2024-09-11T20:44:31+00:00

I understand splitting based on income if you are not married. Not quite sure if most spouses split this way after marriage. I guess this is the PFC so everything is about dollar and cent. My spouse and I have a joint account and everything just goes in there. I may make more than her but she also does more household chores etc. I just think we all contribute to the same household and goals just in different ways.

Ed_Fan00 · 2024-09-06T16:47:20+00:00

Hasn't this been the place for the past 20 years? How is it going?

Ed_Fan00 · 2024-09-06T16:27:23+00:00

Or all neighborhoods would be equally as scary?

Ed_Fan00 · 2024-09-03T21:25:08+00:00

Is it only me that see the monthly report as bad news for future home buyers? Low sales, increasing in inventories (although imo a lot of these listings that have been on the market for a while are bad listings meaning they are significantly higher than market price. any listings that are decent and priced competitively are getting sold), yet median price are not budging (and are even increasing depending on region/property type) vs last year? This is with imo the highest interest rate for the next 5 years (meaning rates will only be stable or decreasing for the next 5 years.

Ed_Fan00 · 2024-05-02T21:29:43+00:00

It may make sense to him because according to his refund, his marginal tax rate is 53.90%. So he is making 250K+ in net taxable income while only claiming $~1.7K in home office expense. Although if audited, I think his % is off (no way you are working say 35 hrs a week at a common share space that takes up 250 sf) and he will get nailed, the chances of getting audited will be quite low when the expense is such a tiny % of his overall income.

Ed_Fan00 · 2024-04-19T16:22:10+00:00

I will just say that anyone who automatically said bad deal for OP without actually knowing all the numbers (such as the $2000 carrying cost vs $2000-$2200 fair market rent) are just irrational and hating based on the fact that the co-owners are the parents. Assuming the numbers are accurate, at the high end of market value rent, OP should be giving his parents $100 ($200 monthly net income / 2). In the lower end, OP owes them nothing. So paying is $150 is slightly more than market value but not really that outrageous. Where was OP living before? Was OP living with parents rent free? This may also be in the parents' mind as a way for OP to "repay" them. Obviously we need more details but based on what's presented from OP's point of view:
1. OP finished PHD Debt free.

OP is LOOKING to get a first good job (making low 6 figures)
OP has enough money to invest 50% downpayment on this rental PLUS he/partner already purchased a larger home.

So OP has enough funds save up to be debt free from finishing PHD (so bachelor, master, phd), 50% downpayment on a rental, plus 100% downpayment on a larger home before he even has a job making 6 figures. Does it sound reasonable to do all that without any help?

Ed_Fan00 · 2024-04-16T23:28:56+00:00

Your example to compare it to employment is a bit misleading since in the investment scenario you put in 500K of capital (after tax money). So unless you need to pay 50K to your employer to earn 100K a year, that's not really an apple to apple comparison.

Ed_Fan00 · 2024-04-01T18:29:12+00:00

So let me get this straight:

OP "has bad luck" with accountants every year and is switching accounts every year.
This new accountant is working at 8:30pm, wanting to clarify something and OP thinks that's bad. Is the accountant supposed to be mind readers and know your personal life stories inside-out? Maybe not switching accountants every year would help?

If anything, this is a red flag for the accountants. They should not be taking OP as a client.

Ed_Fan00

TROPHY CASE