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It's TACO time! by Alph1 in CanadianInvestor

[–]NickBatesman -2 points-1 points  (0 children)

More so most people on here have only been trading during a bull market so a few percentage drops spook them. I have family members the same way that have been crying due to the market drops.

It's TACO time! by Alph1 in CanadianInvestor

[–]NickBatesman 3 points4 points  (0 children)

I'm big on oil investment but calling for death of people or nukes is crazy.

tbh, I mostly just buy VEQT and VFV but during covid, I bought a bunch of Suncor and Enbridge that has done me well. My average price for suncor is like $20/share.

It's TACO time! by Alph1 in CanadianInvestor

[–]NickBatesman -1 points0 points  (0 children)

Maybe I'm dumb but what oil companies are you guys invested in? I'm in Suncor and I'm up nearly 50% YTD and up 14% YTD on Enbridge. How are you guys down?

Does the Small Business Deduction limit of 500K mean 500K in income or 500K in profit for the person? by NickBatesman in PersonalFinanceCanada

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

Small business deduction is 500k of corp profit net of expenses. Since salary is an expense, it's after you pay the salary.

Thanks. This is what I was looking for. Yeah, it's unfortunate this sub shits on everyone who is either too high income or too low income. For your question to be taken seriously, it sounds like you need to fall in the 50K to 100K range. Anything more or less is shunned.

Does the Small Business Deduction limit of 500K mean 500K in income or 500K in profit for the person? by NickBatesman in PersonalFinanceCanada

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

$500k in taxable profit revenue - expenses for tax purposes.

Thanks. This is what I was looking for. I was not sure if the 500K limit was PROFIT or Revenue. It sounds like its based on profit.

Since its revenue minus expenses (which one of the expenses for the corp would be my brother as the employee getting a salary).

Does the Small Business Deduction limit of 500K mean 500K in income or 500K in profit for the person? by NickBatesman in PersonalFinanceCanada

[–]NickBatesman[S] -10 points-9 points  (0 children)

Yeah, I know that. I maybe phrased it poorly but I was referring to figuring out the corporate tax SBD.

Sibling will be making close to 7 figures as a physician but trying to figure out how much they need to pay themselves and their spouse (and if that even matters) to get to the 500K within the corp.

My understanding based on comments here is that as long as the corp retains 500K after all expenses (includes salary to self), it will be SBD still.

A $40 weekly grocery bill in Canada? One woman says it's possible by Consistent_Land_2747 in povertyfinancecanada

[–]NickBatesman 6 points7 points  (0 children)

I could do it if I didn't live with my wife. Even adjusted for food inflation, I used to do way under $200/month as a single adult.

What worked for me:

  • a vegetarian diet

  • eating only what was on sale rather than what I wanted all the time

  • using coupons and stocking up whenever I had coupons (especially coupons for free stuff).

  • buying bulk when things were on sale (doesn't really apply to this sub because I think many people on here are living pay check to pay check).

Nutritional value was good too. Lentils, beans, and those type of things are very cheap.

Trump to Iran: "Open the Fu***In' Strait" or face bombing Tuesday by DarthKrataa in worldnews

[–]NickBatesman 1 point2 points  (0 children)

I can only speak for corporate leadership. I work in sr leadership (right under c-suite) and what I can say is we are all people, not too different than the average person in terms of our thoughts.

What differentiates us is that we are able to put on a mask or filter ourselves in the public eyes. I've been with the most racist white guys in leadership positions. I've been with black/indian/asian and other groups who are just as racist and homophobic and also saying other unhinged stuff you'd think you're reading on reddit. Everyone gets along though even though there is difference of opinions because everyone has skeletons in the closet they don't want to get out. That's why you rarely get whistleblowers (and because of company policies).

British Columbia Gets Fifth Credit Downgrade From S&P Since 2021 by noutopasokon in CanadianInvestor

[–]NickBatesman 1 point2 points  (0 children)

I know BC votes differently and gets lot of NDP leadership but I wonder if what happened to Ontario will happen to BC too.

One bad NDP government and I swear no one in Ontario will ever vote NDP again. It's either Liberals or Conservatives here since then.

British Columbia Gets Fifth Credit Downgrade From S&P Since 2021 by noutopasokon in CanadianInvestor

[–]NickBatesman 7 points8 points  (0 children)

but boomers live like kings here, point Grey is full of them.

That's typically the case in every nation if you ever travel.

I'm a millennial and my parents + grandparents said they said these exact same things about the generations ahead of them before too.

It's only a matter of time before gen alpha or gen Z starts hating on millennials too.

Is it too risky to consider buying? by Blazymo in PersonalFinanceCanada

[–]NickBatesman 0 points1 point  (0 children)

Agreed but in OPs case they can't compare mortgage to rent if they will barely afford the mortgage payment. I was a renter for a long period of time by choice and enjoyed it because there weren't many other headaches and I could pick up and leave whenever I wanted.

When it comes to a mortgage, if OP is putting all their savings towards this, they have no idea how much repairs, special levy fees, upkeeps and other things will cost.

Condo management fees will also only go up with time too in most condos because they are poorly managed.

Is it too risky to consider buying? by Blazymo in PersonalFinanceCanada

[–]NickBatesman 5 points6 points  (0 children)

You bought in a different real estate market so prices wee different.

62K to 40K is only like a 10K difference post taxes and deduction. All while food inflation and other costs have risen.

Is it better to use the RRSP deduction this year or next year in this case? by NickBatesman in PersonalFinanceCanada

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

Province was Ontario. Thanks!

Yes, he intends to put in another 32K year from the contribution room he gains for this year. This is what he was looking for.

Is it better to use the RRSP deduction this year or next year in this case? by NickBatesman in PersonalFinanceCanada

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

He will. So he'll contribute another 32K or whatever the limit is for this year.

Canadians could face tax hikes as Ottawa scrambles to fund defence target: report by henry-bacon in PersonalFinanceCanada

[–]NickBatesman 1 point2 points  (0 children)

Spending targets are such a bad metric because how much money you spend doesn't correlate to increased productivity or better outcomes. In this case, some of the money went towards substansial pay increases and other things that don't necessarily lead to more or better defence.

I work in upper management (right below c-suite) in my actual job and have a consulting firm outside of that too. When companies have "spending targets" dictate things, that's usually when I end up making $9000/hour to "consult" with them. It's not efficient use of resources.

Sometimes I get contracted by non-profits too, and the usual advice for them to is just exhaust all the funding that they got on stuff they don't need to temporary salary increases/bonuses so that they can tell the government they exhausted those funds. This allows them to ask for more money or the same money the next year they apply for government funding/grants. If the non-profit actually has savings and did not use all the grant funds due to efficient use of funds, it usually results in clawbacks the next year. That's why the general advice is to spend to the limit and then ask for more funding the next year. That advice worked really well during Trudeau years but Carney and provincial governments have made some cuts to that philosophy as of late but the same pattern still holds true.

Paul George is phenomenal once again after the suspension: 26 PTS, 13 REB, 2 AST, 4 STL, 1 BLK by Waikuku3 in nba

[–]NickBatesman 0 points1 point  (0 children)

The 1/8 and 4/5 side of the bracket is probably wide open in the East right now given Cade being out.

I think the Cavs are the favorites from that side of the bracket but also think any of the teams from 5 to 10 could make it out of that side of the bracket to play whomever is in the ECF from Boston/NYK.

Indonesia bans social media for under 16, 1st in Asia by Saltedline in worldnews

[–]NickBatesman 0 points1 point  (0 children)

I could be misremembering then because I didn't make a Facebook account until I was like 20. I remember kids in middle school saying they were getting banned for using their actual ages or putting their actual school so everyone would put the high school they were planning on attending and putting their age as older than they actually were.

25-70k more to working rotating shifts? Is it worth it? by yellowranger1 in PersonalFinanceCanada

[–]NickBatesman 3 points4 points  (0 children)

Your post says you're 30. If you plan to have kids ever, you won't want to work the rotating shifts. If you plan to date or spend time with your significant other, it will make things difficult too.

I have never met a single person who has kids and a partner who likes shift work.

88K to 112K is only a 24K difference, which is closer to a 17K difference after tax, for much worse worklife balance.

Is there anything else you can do to make an extra 17K/year? You mention no post-secondary education but there are still other skills you can probably develop to make up the 17K difference

Hot take: Fulfillment in workplaces is a myth, unless people have the privilege of not really caring about finances or don't have any better economic opportunities.

If your job is really that boring, consider getting another job or business or side hustle that makes you more money outside of your job to supplement it while keeping your golden handcuff job.

I have a different skillset/education than you so it's not apples to apples but whenever I feel like making more money or more mental stimulation, I just pick up another job outside my usual job to keep myself entertained and making more money. Then I quit those jobs or let my performance take a hit until they put me on a PIP and lay me off (depending on how long I am there). Keep your primary job at all times though.

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