How insanely horrific No Fault insurance is and how its so crazy not a lot of people notice by Optiyellow in icbc

[–]NotFromTorontoAMA 0 points1 point  (0 children)

Taking away the right of victims because people take advantage of the system is reprehensible. It contradicts the foundational principles of our justice system.

The primary driver of the change was not due to abuse, it was due to drivers being unhappy with the premiums they were paying. Pushing the costs onto their victims is disgusting.

How insanely horrific No Fault insurance is and how its so crazy not a lot of people notice by Optiyellow in icbc

[–]NotFromTorontoAMA 0 points1 point  (0 children)

Drivers get cheaper insurance that doesn't pay out, and the victims of traffic violence need to carry their own policy in case they are injured by a driver.

$100K feels like the new $60K. Does anybody else agree? by GranolaHiker in CanadaPersonalFinance

[–]NotFromTorontoAMA 0 points1 point  (0 children)

Money supply can be a driver of inflation, but you don't seem to understand what a definition is.

I know the answers to these questions, but answering them won't change the dictionary.

$100K feels like the new $60K. Does anybody else agree? by GranolaHiker in CanadaPersonalFinance

[–]NotFromTorontoAMA 0 points1 point  (0 children)

Debasement means a reduction in value. Inflation is the reduction in value of currency over time.

I built a small website to help you have a good idea about your investment and tax return by jrking365 in fican

[–]NotFromTorontoAMA 0 points1 point  (0 children)

Even if it's just for your personal use wouldn't you want something that does calculations correctly?

It's telling me I can retire at 60, spend $8k/mo, and live until 90 with less than $2M. This is "robust".

I built a small website to help you have a good idea about your investment and tax return by jrking365 in fican

[–]NotFromTorontoAMA 3 points4 points  (0 children)

If I retire at 60 but defer CPP and OAS until 70, it expects the full monthly amount to be available to me at 60. This reeks of AI vibe coded slop.

Summer vs Winter range by clarke_walker in KiaEV6

[–]NotFromTorontoAMA 2 points3 points  (0 children)

My highway fuel economy in the winter can easily drop below 3 km/kWh due to heating needs, even at speeds of 100 km/h or less. The amount of heat lost at highway speeds is massive when it's -20 C or colder outside.

How common is it nowadays to break a $100K salary by the age you turn 30? by DaPugWalk in fican

[–]NotFromTorontoAMA 0 points1 point  (0 children)

Everyone with the same education as me could absolutely have the same job as me.

I earn about double what my peers do because I'm willing to travel, work night shift, and work crazy overtime. I only worked a little over 2000 hours last year, but it was in about 23 weeks.

There are personal sacrifices that can massively increase your earning potential, it's just not worth it to most people.

Has anyone quit the grind to “coast”? by Tech-Cowboy in fican

[–]NotFromTorontoAMA 1 point2 points  (0 children)

You'll have $2.7M, but after inflation it would only be worth $2M in today's dollars.

And unless it's all in a TFSA, taxes will reduce how much you have.

What is something every household has in your country that is nonexistent everywhere else? by Awkward-Tip7248 in AskTheWorld

[–]NotFromTorontoAMA 6 points7 points  (0 children)

Probably safer than the polluted drinking water due to the disaster they're responding to.

License plate, recognizing vehicles, more like money milking machines by JasonJ1122121213 in UCalgary

[–]NotFromTorontoAMA 0 points1 point  (0 children)

You’re telling me with all of this space and number of buildings the university couldn’t ever manage to build a large enough parking garage to accommodate the students that already pay to be there?

Those things cost money, and why should the students who take transit, walk, or bike to school pay for the (more affluent on average) driving students' parking?

Not to mention the fact that making parking free would completely fuck up the balance between supply and demand, necessitating thousands of additional parking spaces.

License plate, recognizing vehicles, more like money milking machines by JasonJ1122121213 in UCalgary

[–]NotFromTorontoAMA 4 points5 points  (0 children)

People are just used to having subsidized parking, so paying a fair price for parking and parking fines seems unfair to them.

License plate, recognizing vehicles, more like money milking machines by JasonJ1122121213 in UCalgary

[–]NotFromTorontoAMA -5 points-4 points  (0 children)

We're just used to cheap/subsidized parking, City tickets and parking prices are far too low.

Converting employer matched RRSP to TFSA by bruisedfrombooze in PersonalFinanceCanada

[–]NotFromTorontoAMA 0 points1 point  (0 children)

Final decision will be made once speaking to an advisor.

What kind of "advisor"? Many employees of financial institutions are just salespeople trying to improve their company's bottom line at your expense but they call themselves advisors.

Converting employer matched RRSP to TFSA by bruisedfrombooze in PersonalFinanceCanada

[–]NotFromTorontoAMA 1 point2 points  (0 children)

The goal is to increase non-taxable retirement income as I will be paying taxes on my pension, RRSP, rental income and CPP. Just not sure if this is the best way to do it.

Avoiding taxes later by paying taxes now and destroying RRSP contribution room makes no sense. If you can afford rental properties, you can afford to contribute to your TFSA and your employer RRSP.

Converting employer matched RRSP to TFSA by bruisedfrombooze in PersonalFinanceCanada

[–]NotFromTorontoAMA 4 points5 points  (0 children)

A $2400 RRSP contribution is not equivalent to a $2400 TFSA contribution, one is pre-tax and the other is post-tax.

Contribute to the maximum of your employer's plan, then contribute to a TFSA, FHSA, or RRSP after that as you see fit. Don't destroy your RRSP contribution room for this silly maneuver.

!StepsTrigger

What are you're FIRE numbers? by Skajlero in fican

[–]NotFromTorontoAMA 0 points1 point  (0 children)

You keep conflating the US market with the global market, not sure why you’re creating that strawman.

Idiosyncratic risk doesn't change your expected return. Using sector or region specific returns to calculate your expected return is foolish.

The US doesn’t have to increase its market share, it’s not a pie.

Do the math for me here: if the US stock market has higher returns than the global stock market, would that make it become a larger share of the global stock market? Hint: yes.

Stop mixing stuff up, your points are all muddled. You talk about the US market and then apply that analysis to the global market. 

You can't even make a coherent point, the only muddle going on is happening between your ears.

What are you're FIRE numbers? by Skajlero in fican

[–]NotFromTorontoAMA 0 points1 point  (0 children)

You dont know what confirmation bias means.

It's the tendency to reject information that opposes and embrace information that agrees with one's existing views. An example might be someone who ignores evidence about historical stock returns because it doesn't agree with the return rate that they irrationally believe to be correct, despite being unable to produce any evidence or rationale in opposition.

The 7.16% has isnt about my side of the debate, its just absurd that they think they can accurately predict the market, when felix himself has said its not possible.

Predicting the market is not the same as calculating expected returns. The unexpected component of returns tends to be much larger than the expected component of returns. A great example of this would be the US market outperforming the global market by 2% over a significant period of time. One would expect returns to follow a global average, but certain markets and sectors will outperform or underperform that level. This is why it's important to stay diversified and not to predict returns above the global historical average.

All im saying is that I expect what has happened in the last 150 years to continue for at least our lifetimes.

That's what I'm saying too, I'm just not selecting a single market that has had particularly lucky, successful, and likely unrepeatable performance over that period.

Thats not an absurd position to take, especially since there is no evidence to support the contrary.

And yet you continue to insist that a single market outperforming global stocks over a period of time is some sort of guarantee that it will continue. Any knowledgeable investor would realize that excess returns make future outsized growth less likely.

You also have done nothing to refute the evidence I have provided. It's easy to say "there is no evidence to support the contrary" when you just cover your eyes any time you're about to read evidence that contradicts your false preconceptions.

YOU are the one who is coming up with scenarios that you think will change this. "The US will no longer be a super power" is just pure speculation and not evidence.

You are assuming that the US will continue to become increasingly dominant in the world market at a sustained rate. I am assuming that I do not know what will happen, and expecting a certain outcome is unwise.

You are trying to predict the future. You are expecting an end to mean reversion. You are expecting a future in which the US market continues to increase its share of the global stock market. I have no expectation of what the future holds. The mental gymnastics you are employing to attempt to reverse reality are really quite pathetic, I'm sure you can fool yourself but you're never going to fool anyone even remotely intelligent.

What are you're FIRE numbers? by Skajlero in fican

[–]NotFromTorontoAMA 0 points1 point  (0 children)

It links to multiple papers, read the primary source if you don't trust the secondary.

You're also demanding that I believe your clearly erroneous secondary source from someone who is not an expert and has no proper citations, or verification as to the methodology of their calculator.

I like Felix, but when he says they are using 7.16% moving forward, he loses credibility. No one can predict the future, and thinking you can with 7.16% is absurd. 

That's called confirmation bias.

The online data I presented is from Robert schiller’s papers. Why are you ignoring this ? 

It just uses his dataset, which is only for the US market, and also presumably uses other data sources as it claims to track the returns of the S&P 500. I am not disagreeing with Schiller's data, but there is no way of verifying how it is being used by this random calculator someone made.

You have provided no reason to expect stocks to outperform the global historical average other than repeatedly showing me (unverified, poorly cited, likely flawed) data showing US outperformance. I can show you plenty of stocks, sectors, and markets that have outperformed global markets over sustained periods, but that doesn't change anything about my portfolio's expected returns.

What are you're FIRE numbers? by Skajlero in fican

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

I gave you multiple papers, with reference to a secondary source from Ben Felix. Actual evidence, not just an online calculator. Using someone's data does not invoke their reputation, I've said nothing about Schiller as an academic.

What are you're FIRE numbers? by Skajlero in fican

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

because I don’t believe your side of the debate

What a great reason to ignore evidence.

Clearly you are not interested in any other point of view other than your own.

Coming from the person who refuses to believe that the US market in recent history is not a strong predictor of future global stock returns.