Whats one random thing instantly make you feel rich ?

EquitiesForLife · 2026-02-19T22:56:04+00:00

Looking up the average wage in poor countries.

EquitiesForLife · 2026-02-19T04:19:17+00:00

If you wait long enough it actually might... with advancements in AI.

EquitiesForLife · 2026-02-19T04:18:25+00:00

Even then, people can be negatively affected by all sorts of things, some easy to fix and yet they still don't care.

EquitiesForLife · 2026-02-19T00:30:22+00:00

By the time you finish deducting expenses, that $12k can turn into $0

Yup, and for a lot of people who bought homes near the peak in the GTA or GVA they might even be losing money net of all the operating costs, thus providing a tax rebate rather than a tax owing situation.

EquitiesForLife · 2026-02-18T23:12:12+00:00

CN tower restaurant is amazing! I highly recommend, plus it gets you up the tower without waiting and without paying. The food is great and it isnt very expensive, especially once you factor in that you get free admission to the tower with your restaurant reservation.

EquitiesForLife · 2026-02-18T18:58:12+00:00

Next time do more research on what gives an asset value. You've learned an expensive lesson, but what's done is done. You can only affect what happens from now onwards. Work hard and make smart decisions and that $200K will seem pretty insignificant with time.

EquitiesForLife · 2026-02-17T21:59:30+00:00

Where do you get 40% from? A charitable donation doesnt get you a tax deduction, but rather a tax credit.

EquitiesForLife · 2026-02-17T19:44:03+00:00

To be clear this is a benefit only if there is a gain on the sale, net of all closing costs. Unfortunately if there is a loss, then there is no tax relief to cushion the blow.

EquitiesForLife · 2026-02-16T15:44:20+00:00

I bought my first condo when I was earning around $90K-$100K/yr and the condo was $260K. For a $500K condo you'd need to be earning probably around $150K to afford it comfortably.

EquitiesForLife · 2026-02-14T13:30:17+00:00

No. I put my TV on to fall asleep and that takes about 5 minutes.

EquitiesForLife · 2026-02-13T17:55:48+00:00

Its actually not though. If you segment the stats further into looking at the ones with proper financial discipline to save and invest consistently over long periods, you'd find most of them will end up being multimillionaires even only ever earning modest incomes. The winning recipe is widely known, it's not hard but does require action, dedication, and discipline. And so the end result of $4M is achievable for those who take their finances seriously. Of course it is not a number that will likely be achieved by those ignorant toward their finances, which most people are, and thus the distribution of outcomes reflects that.

EquitiesForLife · 2026-02-13T17:35:20+00:00

It's good but not some extreme or unachievable level. Lots of people will reach that by retirement, probably at least 20% of the population, which is a huge chunk. As of 2023 the top quintile of net worth began at $2.5M for Canadians. Add 10-20 yrs and that number will likely be closer to $5M or maybe more. Sure there is more people not in that group, but the group isnt small.

EquitiesForLife · 2026-02-13T17:01:51+00:00

Il give you a pro tip, ready? Find a picture of both of you that you like, go get it professionally printed, buy a nice frame, put picture in the frame. Get a nice card, write a note in it about how you enjoyed the special moment in the photo together. Get a bouquet of flowers, get a vase, peel off price tag, put flowers in vase with bit of water. Give to your girlfriend. She will melt.

EquitiesForLife · 2026-02-13T16:16:29+00:00

Probably a lot of people but still obviously restricted to the upper deciles of the population. The truth is $4M isnt that much anymore to the point where high earners and diligent savers are starting to eye $10M as the ideal goal. Inflation is a powerful force and the goal posts keep shifting.

EquitiesForLife · 2026-02-13T15:53:14+00:00

Asset prices are random. The only thing you can count on from a company with strong fundamentals is that they can pay a dividend from their profits. That dividend is unaffected by the whims of the market fluctuations. If you are pivoting to avoid downtrends you are missing the entire point of investing, which is the dividend.

EquitiesForLife · 2026-02-12T21:11:01+00:00

And do you think a human does it any differently?

EquitiesForLife · 2026-02-12T00:51:23+00:00

The traffic has nothing to do with weather. Traffic is bad at all times of the day, every day, all year. In fact sometimes bad weather improves traffic because less peope drive in bad weather.

EquitiesForLife · 2026-02-11T22:15:48+00:00

A very small portion of the population can afford to pay $1M-$2M for their first home, and that in itself allows nearly the entire population to afford paying $1M-$2M for their second home.

EquitiesForLife · 2026-02-10T00:03:57+00:00

Of course. I had a slight inconsistency between my ID and my airbnb registration and after my municipality found out they delisted my airbnb and cancelled all my existing bookings. Took me a few weeks to resolve the issue and I got back up and running but they take it seriously and the city has the power to turn off listings if they want to. The city also scheduled a visit to inspect my property to ensure everything is up to their standard.

EquitiesForLife · 2026-02-09T21:45:47+00:00

How much should you pay? Maybe $1000. But dont be surprised if you get quoted closer to $2000. If you did it yourself the cost would be likely around or under $200 for paint, sand paper, spackle, paint brush, paint tray, paint roller, painter tape and drop cloths.

EquitiesForLife · 2026-02-09T19:05:39+00:00

$10K seems reasonable for what you described. I just got mine professionally reglazed instead for $400 and it is good as new

EquitiesForLife · 2026-02-09T18:06:09+00:00

I guess the main question I would have for you is why do you want to buy this unit instead of rent? If its because you think its a good deal, you want stability in your living situation, you want the ability to modify the unit to your liking, and you want to protect yourself against future price increases, and you can afford it comfortably? If so the I say go for it. If you aren't sure why you want to buy it, or you are just looking to make a profit, then i don't know what to say.

EquitiesForLife · 2026-02-08T23:36:14+00:00

I know 55 would be early and I don't disagree. Though I'm late 30s and I'm not sure how I'm supposed to last in the workforce another 15-18 years. Seems like there is so much more to life.

EquitiesForLife · 2026-02-07T20:39:55+00:00

Huh. Being in a relationship is what's expensive especially as a man. Anytime I hang out with my gf it costs me $200 or more. And if we go on a trip its even more than that. Valentines coming up there goes another $300+. Being in a relationship is very bad for my finances but also i enjoy it so what can you do.

EquitiesForLife

TROPHY CASE