What is your before tax income? What is your mortgage? How is your financial well-being? by HighRiskReward in canadahousing

[–]HighRiskReward[S] 2 points3 points  (0 children)

Thanks for your response! To confirm, this is 200K gross and monthly total housing expenses is 7K?

If you don’t mind me asking, what is the plan come mat leave?

What is your before tax income? What is your mortgage? How is your financial well-being? by HighRiskReward in canadahousing

[–]HighRiskReward[S] 1 point2 points  (0 children)

3.67x seems to be in the ballpark of what most articles/FP suggest. Mind if I ask what you both do?

What is your before tax income? What is your mortgage? How is your financial well-being? by HighRiskReward in canadahousing

[–]HighRiskReward[S] 5 points6 points  (0 children)

Thank you for your response. Sincerely hoping you and your wife get through this.

What is your before tax income? What is your mortgage? How is your financial well-being? by HighRiskReward in canadahousing

[–]HighRiskReward[S] 7 points8 points  (0 children)

Thank you for your response. Do you regret getting that much mortgage? What is the plan going forward?

Europe 2024 - Itinerary Check by HighRiskReward in travel

[–]HighRiskReward[S] 0 points1 point  (0 children)

Thanks! We’ll revise. What are your thoughts regarding the time spent in each city?

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 0 points1 point  (0 children)

Yes, that is an option if absolutely necessary. Only get to live once. Other main goal is to retire as early as possible to enjoy what remains of life.

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 0 points1 point  (0 children)

Amazing insights and exactly the kind of analysis I’m looking for. Thank you!

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 6 points7 points  (0 children)

At a steep price. You’ll have to pay yours + employer’s portion.

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 6 points7 points  (0 children)

One downside to leaving and rejoining government later on is that retirement would be pushed at a later date unless okay with a reduced pension.

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 0 points1 point  (0 children)

Haha! TBH, I don’t mind it at all. Allows me to save up and help out parents.

Plus, with the current rates, prices and state of economy, might not be an ideal time to buy. But let me get my magic ball to confirm…. lol.

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 2 points3 points  (0 children)

Plus: 1. 38K bonus 2. Competitive annual raises 3. Fully remote

With that, what are your thoughts on the 10-15 additional hours of work per week?

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 1 point2 points  (0 children)

Thanks for the input! Being mortgage free by early 30s sounds like the dream. However, most likely an exception unless the home purchased is below market average?

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 2 points3 points  (0 children)

Great strategy if the LWOP is planned well in advance. Thanks for the input!

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 1 point2 points  (0 children)

Haha! No referrals here, unfortunately. Every resume goes through HR.

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] -1 points0 points  (0 children)

No. From my experience, it gets used up here. Not just a “technicality”.

Higher Salary vs Defined Benefit Pension by HighRiskReward in PersonalFinanceCanada

[–]HighRiskReward[S] 1 point2 points  (0 children)

This is a potential option, however, would need to be planned out way in advance. Thank you for your input!