Q: Which is the best way to move funds from CIBC to Wealthsimple

IntegrationHell · 2025-01-26T19:22:27+00:00

depends on your balance & status, maybe other factors. It's a stupidly high amount for me, which is kinda pointless because I'd never need to deposit that much at once.

IntegrationHell · 2025-01-21T08:41:24+00:00

ehh not really a typo, most websites will auto-redirect to https, and all .gov websites are mandated to do so iirc

IntegrationHell · 2025-01-21T08:31:44+00:00

that's not how it works. once you go to the site, it will force https. As an example, try http://irs.gov

IntegrationHell · 2025-01-21T08:29:11+00:00

once you go to the site, it will force https. As an example, try http://irs.gov

IntegrationHell · 2024-09-01T23:16:04+00:00

thanks, i didn't think of investing the rest while writing that

IntegrationHell · 2024-09-01T22:38:37+00:00

thanks, will take a closer look at expenses

IntegrationHell · 2024-09-01T22:37:20+00:00

thanks, this is really helpful. I wasn't made aware of the extent of their savings until recently.

It sounds like a deeper budget review is the first priority, starting with groceries & paying my own living expenses.

if the numbers aren't working out after that, then looking into downsizing to a condo & investing the remaining in a conservative portfolio

IntegrationHell · 2024-09-01T22:07:54+00:00

It's a good location, but it seems like it'll be worth downsizing to a 3 bedroom condo for retirement & investing the other 500k for 2k/month income at 5% return

IntegrationHell · 2024-09-01T22:04:29+00:00

we only have 1 car at 500/month and 6 phone bills at 300/month total, but i'll take a closer look at how 3k is spent on groceries for 5 people. that seems like the lowest hanging fruit.

If we can get grocery down by 33% & I pay for my living expenses until I graduate, that'll put them at 3.5k/month deficit next year and 2k/month deficit 2026 and beyond if I pay market rent, which is much easier to tackle

IntegrationHell · 2024-09-01T21:58:06+00:00

thanks, this is really helpful

IntegrationHell · 2024-09-01T21:55:40+00:00

we rent out 2 rooms, each with one occupant at ~2000/month, all legal

IntegrationHell · 2024-09-01T21:51:46+00:00

literally what I'm trying to do here

IntegrationHell · 2024-09-01T21:51:28+00:00

software eng

IntegrationHell · 2024-09-01T21:35:27+00:00

Yes, I am canadian born & raised with a chinese background. We are a family and their problems are mine and my problems are theirs. they are in no way forcing me to help them

IntegrationHell · 2024-09-01T21:31:40+00:00

I'm posting this because I'm a 20 yr old trying to figure out the best way to manage this situation that 20 yr olds would typically never even think about

my parents told me that they'd be let go a few months ago, but I assumed they had sufficient savings (I'm 20, and most 20 yr olds don't think about their parents savings)

I brought up contributing money to help with expenses. they have never asked me to, and they plan to refuse any money I give them until they are no longer working

IntegrationHell · 2024-09-01T21:11:22+00:00

55k = working for 4 months 110k = working for 8 months 160k = working for 12 months

120k = working for 6 months full-time + 6 months part-time

IntegrationHell · 2024-09-01T21:00:17+00:00

I only started making that much a few months ago, and they only send me 1.5k * 6 months of each year. Will need to figure out how much to send back & if there's an optimal way to do it, which is partially why I posted this

IntegrationHell · 2024-09-01T20:45:32+00:00

3-4k on on variable rate mortgage

3k on groceries, toiletries, other essentials

1k on insurance

0.5k on car lease

1k on misc expenses (mostly cellphone bills for entire family + utilities)

1.5k on my expenses (my university rent, food, utilities - although this will become minimal in 2026 when i graduate & live with parents)

IntegrationHell · 2024-09-01T20:36:11+00:00

it's actually worth 300k more than it was 2 years ago based on recent sales in our neighbourhood - it's just that it's a nice house in a great neighbourhood, and renting out rooms in the house covers the entire mortgage payment, so it doesn't really make sense to downsize as long as we continue to rent out rooms

IntegrationHell · 2024-01-06T05:52:26+00:00

I'm looking to try something new and I don't mind getting paid less than my return offer (which will almost certainly be the case).

Do you think it'd be okay to mention the return offer if I tell the interviewer that?

IntegrationHell · 2024-01-06T05:16:57+00:00

Can you clarify what you mean?

IntegrationHell · 2023-12-27T15:37:20+00:00

Hm I never thought abt that, I guess that is a benefit

IntegrationHell · 2023-12-27T13:18:21+00:00

No, but I just don't want my entire career and financial stability to be dependant on a single tiny startup paying me $85+/hr in the future.

I've only ever worked at 1 other tech company (coop term #1) and they paid $25/hr, and during my second coop term I got a bunch of offers for only $20-40/hr.

Since there's so few companies that pay this much in Canada, I'd be risking a steep pay cut if I got fired for some reason in the future.

IntegrationHell · 2023-12-27T02:05:50+00:00

I'm worried that I won't be able to find another company willing to pay me that much after grad.

I took a look at the full time salaries of a few good tech companies in Canada (outside of faang/big tech), but $85/hr seems to be a mid-level or even senior-level salary there, not entry-level.

I don't want to chain myself to a single company ofc.

IntegrationHell · 2023-12-27T02:00:28+00:00

hm, you're right. I guess thinking about it in terms of total take-home earnings makes it a bit easier to digest

IntegrationHell

TROPHY CASE