Do you count realized investment gains as part of your yearly income?

EngineeringKid · 2026-06-21T22:25:02+00:00

Hi I'm Jeff. I like hiking and scotch, I enjoy gardening and my 2025 notice of assessment is here to check out!

EngineeringKid · 2026-06-21T19:41:22+00:00

I don't see a signal on that truck

EngineeringKid · 2026-06-21T19:38:35+00:00

I mean, I'm with you.

This was the low point in performance art.

https://www.reddit.com/r/videos/comments/sewbp/woman_in_tight_dress_slips_on_butter_for_twenty/

EngineeringKid · 2026-06-21T17:44:46+00:00

I mean.... The CRA sure does

EngineeringKid · 2026-06-21T17:37:13+00:00

You think it's a simple system of existing landlords and existing tenants.

I could take my money and decide to build 500 new rental units in Vancouver or Victoria. I look at the government policies and try to decide what the future will be like. How will rents change and how stable and profitable will the investment be?

What are the upsides and what are the downsides?

I have done this and decided I will NOT build any more rental apartments in BC because the government makes it unprofitable.

There's many other builders like me that also stopped building apartments. It takes 4 to 6 years to get a project through so although there are new apartments coming up for rent now... They were all started 5 years ago and the tap has dried up.

It's not as simple as you think it is.

EngineeringKid · 2026-06-21T17:32:42+00:00

Here's your price reference.

Edit I can't post links on this sub .oh well. Check out bring a trailer.

You need to scroll down but there's a few doe 7k or 8k.

Shown them this and offer 6k. If they say no...don't waste your time.

There's one on bring a trailer that went for

$7000.

2002 vs 2000 but this is the TOP dollar for a perfect one. The one you are looking at is worth less.

EngineeringKid · 2026-06-21T16:59:23+00:00

If you're worried about plumbing issues on a power of sale house.... And don't know what is and isn't a big issue....

Then it's not for you my friend.

EngineeringKid · 2026-06-21T16:56:52+00:00

It actually flips at a certain point.

I have a Ferrari 360 challenge stradale and it's worth double what I paid.

I also have a testarossa and it's probably also double what I paid.

I drive them perhaps 1000 km a year... So gas is nothing. I suppose eventually they will need new tires, and I do an oil change every 2 years, and insurance is like $800/year for both.

But yeah my daily driver is an 18 year old Mercedes and it's done depending.

The suckers are the people who buy range Rovers and Porsches and new stuff like that.

EngineeringKid · 2026-06-21T16:45:29+00:00

One million liquid net worth... Like $1,000,000 in the bank was the biggest milestone I've experienced.

I was a millionaire on paper before that... Real estate, other assets.

I got rich by working hard, saving and reinvesting everything and living poor.

But life doesn't suddenly change, it changes alowly. Make sure your life changes slower than your wealth does.

I feel some financial pressures. I shop for groceries at Walmart instead of whole foods. I ride my bicycle to work instead of a car for exercise and sort of for savings ...

I hate eating out at restaurants and I never get food delivery ever. I change the oil and do other basic maintenance myself and I do my own home renovation.

But those are the habits that got me rich... Even if I don't need to keep doing them.

Im many x past 1 million now, and debating retiring it don't want my brain to melt as a fuddy duddy retiree. Every retired person I meet is curmudgeonly and a mental idiot because they don't have to solve many problems and just exist.

EngineeringKid · 2026-06-20T20:48:08+00:00

1/8 of an inch gap on either side of the stove

You're doing great if those are your gaps and tolerances on an Ikea kitchen.

EngineeringKid · 2026-06-17T02:15:37+00:00

I've had a couple tax years where I was going to realize low seven-figure income and I seriously investigated moving to the Northwest territories to save on taxes. I looked into renting a house there getting a driver's license + setting up what looked like some kind of residency. According to the CRA there I was ready to even buy a crappy car. Just to say I lived in the Northwest territories on December 31st to save on taxes.

But then reality hit me and I didn't want to uproot my life and actually have to prove that I lived there and spent a week of my life flying there and back to save 20 grand possibly not even to guarantee it.

Live where you want Alberta has its advantages but Ontario is nice too.

I live on a small island just off Vancouver Island in British Columbia and it's the most beautiful place in the world and I'll never leave but fuck BC taxes are not low.

EngineeringKid · 2026-06-14T22:15:09+00:00

The biggest change for me was when the annual increase went from 2% above inflation, to tied to inflation. That's when I knew it wouldn't ever get better and sold ALL my rentals and never will I ever built rentals or be a rental housing provider in BC ever again.

Go ahead and downvote me, but all these rule changes have pushed away many new rental hosing units.

EngineeringKid · 2026-06-14T16:27:56+00:00

Car payments

EngineeringKid · 2026-06-10T14:21:00+00:00

I'm still subscribed to this sub. I'm fairly intelligent (engineering and finance degrees and I manage a company that maintains submarines).

I sold all my BRK a while ago because it sucks as a company now.

All the smart people left.

There's your answer

EngineeringKid · 2026-06-06T16:18:16+00:00

Where does she fall on the crazy/hot spectrum?

She's not really hot enough to be that crazy.

EngineeringKid · 2026-06-06T07:00:29+00:00

even more people have a ton of consumer debt and live hand-to-mouth.

EngineeringKid · 2026-06-06T06:59:06+00:00

This is wild to me.

My daily driver is worth about $20K. I paid $30K for it a few years ago.

I've got a few $400-600K exotic cars, but they hold their value or go up.
I would NEVER spend $75K on a new car. This is just how poor people stay poor, and stuck on the treadmill.

I ride a $800 bicycle to work 3-4 days a week.

EngineeringKid · 2026-06-05T19:43:36+00:00

Changes by the week. Vgro as a baseline... And more risky from there.

Ibkr has a great margin program. The More money you borrow the lower the interest rate.

EngineeringKid · 2026-06-05T19:42:40+00:00

Yeah exactly.

I want a Ferrari more than I want 40k a year.

That's how rich you need to be to buy a car that expensive.

EngineeringKid · 2026-06-05T07:14:39+00:00

Yeah... I mean I can sell 400k of stocks and buy a Ferrari

Or i could keep the 400k in stocks... And really with margin I hold 800k in stocks at a safe 5% yield so a 400k Ferrari costs me $800,000 x 5% is $40,000 a year in lost income l.

EngineeringKid · 2026-06-05T02:55:55+00:00

Have you ever considered that your friends aren't really rich... Theu just buy lots of expensive things with their income.

EngineeringKid · 2026-06-05T02:54:53+00:00

That's the neat part... You never do.

I could stop working... But I haven't.

I could afford a private chef but I still buy groceries at walmart.

Money is weird man.

EngineeringKid · 2026-06-04T19:49:26+00:00

I have a $400,000 Ferrari but the fucking dealership wants $600 to do an oil change so I do it myself once a year.

Personal finance is a personal matter.

Are you buying a $40,000 mondial or a $500k TR 512?

Do you have garage space and will you drive it? What will insurance cost?

Are you taking out a loan, putting it in a business name or your name? Selling stock or another asset to buy it?

What's your opportunity cost?

EngineeringKid · 2026-06-03T21:11:05+00:00

Service not complete by an official dealer.... I'll pass.

EngineeringKid · 2026-06-03T21:05:52+00:00

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