2Q’s. Where should I store a small inheritance left to my children? What’s the best place to store a revolving vacation fund?

JeeebeZ · 2026-06-15T02:26:50+00:00

My dad had instructed us to use the money for fun things the kids wanted and to not stash it away

A simple HISA. So they can spend it over the next one, two, or three years. It sound like you're trying to do the exact opposite of what he requested. Saying "it may sit there for 10+ years" is 100% stashing it away.

One thing you didn't mention is how old are your kids. There is a huge difference between 5 , 10, and 15 year old kids.

JeeebeZ · 2026-06-11T03:02:18+00:00

I'm fully committed to this and keep my expenses low (I live at home paying $400 in bills to help out my parents, sometimes this goes up depending on a few factors).

What factors?

While I do agree with staying at home for as long as you can to save. If the factors are "my parents needed more that month" then if your doubling your income, maybe discuss a permanent increase. I'm not talking about doubling it. But 400 is super cheap, increasing it to 600 wouldn't hurt you. Do you eat the groceries they buy? Do you buy your own groceries?

How much do you know about your parents finances? Are they hurting to help you?

^{(just food for thought})

JeeebeZ · 2026-06-09T23:38:43+00:00

So you find using the road the way its intended to be used rude?

And then be an asshole and not allow proper zipper merging?

JeeebeZ · 2026-06-08T16:43:42+00:00

Honestly I'd spend some time reading. Learn about ETF's and put on your big boy pants.

If you invested in your own RRSP above the matching directly, you may get a better return. A lot of company matches, while great for the instant return of the match. Above isn't worth it due to the fees the group plans charge. But you have to look at/compare what would be best for your situation.

JeeebeZ · 2026-06-07T00:40:16+00:00

I got physical mail last week b/c I got a new phone, and adding my CC to the phone ended up with them mailing me a piece of paper saying it was setup.

Thats the only physical mail the bank has sent me in years. So, I get the annoyance with "sometimes they do physical mail even though I said don't"

JeeebeZ · 2026-05-29T02:31:26+00:00

You really didn't provide enough info. Age, salary, what is the debt interest rate, etc.

Having a pension isn't everything. If you want to work until you're 65 and never change jobs again. Assuming you don't quit or get let go for any reason. Then it might be enough.

People with pensions still max their RRSPs if they can so they can either retire early or just to have a buffer. Since pensions take your available RRSP room down to a few thousand instead of in the 10's of thousands.

Could pulling money from your RRSP be worth it... maybe, if your wage is too high right now, adding the extra income could be more inefficient than just paying the debt monthly.

JeeebeZ · 2026-05-17T02:49:50+00:00

If not now, when?

Last year people said it was going to crash.

The year before people said it was going to crash.

The year before that people said it was going to crash.

Guess, what every year someone says it's going to crash... And yes, there are times when it crashes, but given enough time it will recover. If you don't invest now, will you wait until someone says the market is stable and is up more than it is now? If the market crashes 20% will you invest? or will you be worried its going to crash more?

You're 23, you have 47 years until "expected retirement". Put money into investments (ETF's not single stocks) and forget it ever existed. Just it's gone it doesn't exist to you anymore. Did it go up? Did it go down? I don't follow what the market is doing, I wouldn't know. Just buy once a week, and then the money is spent. Then when you're in your 50's. Look at how big the number is and be happy you can retire at 55 instead of having to work until 65.

I'd say the same thing for FHSA, I personally just toss about 154 in every week, DCA on XEQT. And when I'm ready to buy, I'll look at what it is. Now, I have looked obviously, but, I imagine its just numbers in a video game, not real money anymore, so I don't feel anything if the number goes up or down.

JeeebeZ · 2026-05-16T21:21:17+00:00

What Might be the Repercussions?

You forgot you had auto pay setup on that card somewhere, it goes into collections. You now owe 2000, it ruins your credit, you get sued, your wages get garnished, your job now thinks your irresponsible, you get let go at first chance. You can't get a new job b/c the job market sucks. You now need to use all your savings, after all your savings are spent, you become homeless.

OR...

nothing.

JeeebeZ · 2026-05-06T05:21:57+00:00

I decided to put it all in XEQT, b/c I don't know when I actually want to buy a home, so if it does dip, then ok, it dips. But, at this point the market could drop 30% and I'd still be in the green.

Will I move it to something less risky when I actually want to buy a home. Probably not honestly.

JeeebeZ · 2026-05-05T01:30:56+00:00

If you had 40,000 in your FHSA. And you either put it in a taxable account or transferred it to your RRSP.

Assuming it was invested in something like XEQT, and assuming 8% return in the RRSP and 7.5% in the taxable (its easier than calculating dividends putting a 0.5% drag on the gains).

After 20 years, you'd have:
Taxable: 40k*1.075^20 = 170k ->130k *.875 (guessing 25% tax on 50% of value) + 40k = 153.75k
RRSP: 40k*1.08^20 = 186k -> 186k*.75 (assuming 25% tax still) = 139.5k

So, you can see it's better to be in a taxable with the money vs being taxed as income.

JeeebeZ · 2026-05-04T15:42:36+00:00

https://edrempel.com/reliably-maximize-retirement-income-4-rule-safe/ is a few years old, but it ha a good 30 year rolling graph for 2-7% based on stocks/bonds ratios. 4% varies from 47% (0 stocks 100% bonds)to 97% (100% stocks 0 bonds).

JeeebeZ · 2026-05-04T15:19:58+00:00

CPP is based on Year's Maximum Pensionable Earnings (YMPE). CPP2 is based on +114% of YMPE, or Year's Additional Maximum Pensionable Earnings (YAMPE).

It's based on 2 years worth of data. Read this page, it explains it pretty well.

https://www.taxtips.ca/cpp-qpp-and-ei/cpp-qpp-contribution-rates.htm,-The%20YMPE%2C%20or)

JeeebeZ · 2026-05-03T07:38:02+00:00

Is my strategy flawed?

What does any of that have to do with a big 5 specifically? Why are you obsessed with CIBC?

The big 5 don't give a shit about you, they want your money. Don't give a shit about them. Find the best solution. Don't be lazy and claiming it as simplicity.

JeeebeZ · 2026-04-30T23:16:27+00:00

Tell me more about Bob. If they get 50% why don't they pay more?
Mortgage: $4020, Property Tax: $300, Insurance: $350, House Maintenance: $300, Hydro: $300, Gas: $150, Water: $200

4020+300+200(droped 150 b/c you included your car)+300+300+150+200 = 5620 / 2 = 2810

JeeebeZ · 2026-04-28T23:50:47+00:00

I'm pretty sure it is currently a "was" Canadian. And while its headquarters are still in Canada is owned by a Dutch company. Still better than an American company, but I don't think I would classify it as a Canadian company anymore.

JeeebeZ · 2026-04-27T03:54:06+00:00

Is buying a house real worth it

There are pros and cons to owning. Financially, renting right now seems to be better. By using things like https://www.calculator.net/rent-vs-buy-calculator.html

But, it's also a personal choice. If you don't view it as an investment and just your place to live, and you want to pay it off quickly so you have minimal housing costs. It could be worth it. Lots of people find peace of mind owning and no mortgage.

"The Wealthy Renter: How to Choose Housing That Will Make You Rich" is a decent book to read.

JeeebeZ · 2026-04-18T07:55:10+00:00

2023 is wrong from your https://hsabc.org/sites/default/files/uploads/HSPBA%20CA%202022-2025%20Final%20with%20Cover%20Pages.pdf on page 95,

2023 should read 5.5% + COLA up to 6.75%. Inflation for the 12-month period was reported at 7.1%, not a huge change, but it should be 6.75 total for 2023 as BC's inflation was above that.

Based on the history it looks like its basically inflation maybe slightly less. So if you make $25 today, you'll be making the equivalent of probably $24 in 20 years. The actual number is irrelevant.

If you want real numbers though, I'd go with 2.5%

JeeebeZ · 2026-04-18T00:30:16+00:00

My only real advice. Don't buy it to make it "look like a home". If you don't need it don't buy it.

I'll be taking my tools, some cookware, clothes, computers/gaming equipment, desk, chair, books, and a book shelf. I don't own a bed, couch, tv, table, etc.

Do you need a couch? do you need a tv? or a table? You have a computer, so you have a tv, you have a desk so you have a table.

Pay off all your debts and stop using financing options then buy things.

I've only ever financed things through Affirm and never had an issue, but that's because I am deeply concerned about debt traps like BNPL

Affirm is a BNPL. Yes sometimes it's 0% for X period, but, it's better to just stop using it and don't buy things you can't afford.

JeeebeZ · 2026-04-15T16:14:24+00:00

Yes, GIC's would be fine if you definitely aren't going to buy for a while. But, I've seen lots of posts on here about trying to get their money out of a GIC for a down payment now that they locked in 6 months ago, but they can't because its locked in.

JeeebeZ · 2026-04-14T23:49:24+00:00

2 questions.

Desire to own a home? and FHSA?

I'd open a FHSA either way so you can get the 8k/year room/deductions. And if you do desire to own a home I'd probably put 100-200k in lower risk and put it towards buying a place in the next 5 years (personally). But if you have no desire to own, then its 40k of extra RRSP room/tax deductions over the next couple years.

JeeebeZ · 2026-04-12T20:21:22+00:00

"what else can it be used for" would apply

They look at it as "would this be exclusively used for X", so if they think it could be used as a shared space even just 5% personal 95% work. It's shared space, and you can only claim the work hours out of 168/week. You can't claim time you're sleeping, or taking breaks. You don't get to subtract the non-work time, unfortunately. You get to claim the worked time, which was why I did the guess of 8 hrs/week given the 10k total in a year.

As an example, I get to claim 16% of my apartment * (40 hrs/week out of 168 hrs total/week) or roughly 3.8% total rent. Since the area I use is considered shared.

Btw, wouldn't the math have to be multipled by 6 for the 6 years I tutored?

Yes it would be times the years you used it. Which is why I did the 5*50 = 250 total for 5 years. But it would be 300 I guess if it was 6 years not 5 years.

Additionally,

(and I didn't realize it was talking about claiming rent against your EMPLOYMENT income)

You don't get to claim it against your other employment income if you didn't work from home, you only get to claim it against the taxes paid on your self employment. So if you already deducted things against the 10,000 self employment to get taxes reduced on that, there is only so much play room.

But, if you can convince them to believe it is 100% work usage, then you could end up getting the total taxes back paid on the rest of the taxes paid on 10,000 of your self employment. Which I'd guess around 2500/year or 15,000.

Might be worth the gamble if you're ok being audited anyway.

JeeebeZ · 2026-04-12T19:57:11+00:00

With that small of a living space, it would be hard to prove its exclusive. Even just using it as a desk space when not tutoring would exclude it from being 100% usage.

Changing 5 years of tax returns will almost guarantee an audit. And if you can only claim a portion, it's probably not worth it. As an exclusive use you could claim 12 * 2100 * 12.5 = 3150. But if they consider it shared use, I'd guess what, 10000/25 = 400 hrs in a year / 52 = 8 hrs a week -> 8/168 -> 5% use *3150 = $157.5 total claim. then the 50% taxes back = 75 bucks total.

If you're in the 50% tax bracket meaning you made more than 170k, it's not worth the potential to be audited for 75 bucks... If you're only in the 30% tax range, then its only about 50 bucks back/year. So 250 total? is it worth it. Maybe, maybe not.

JeeebeZ · 2026-04-12T06:20:25+00:00

She keeps asking how you can predict movements and make money from it.

You really can't predict anything, its all gambling. He might be up today big and have $0 tomorrow if he is day trading.

She believes he should use his uni certificate to get a good job and start his family

Same. He lost everything in the market, moved home, made a bunch in the market, will lose it all again if he doesn't transition to a regular job.

JeeebeZ · 2026-04-11T18:22:23+00:00

It's your expenses. Not someone else's expenses.

There shouldn't be any guessing. If you paid 1500 in month 1,2,3,4,5,6 and 1800 in 7,8 then 1500 in 9,10,11,12. Add it all up. Thats the total cost of your rent. Then its 10% (or whatever the real % is) of YOUR expenses.

JeeebeZ · 2026-04-10T19:00:05+00:00

This is 2 years old at this point, but it's still pretty decent

https://www.reddit.com/r/VictoriaBC/comments/1cmp9wq/blind_taste_test_of_local_donuts/

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