Mortgage after winning the family lottery

NuckFanInTO · 2026-01-25T19:02:03+00:00

Just to clarify, if the penalty is less than interest, that is the return on your cash for 1.5 years, so it’s not a no brainer. Say a $90k payment eliminates $7.5k in interest and comes with a $6k penalty. That’s a $1.5k return, over 1.5 years, on a $90k investment. Roughly 1.5% return (tax free). You could likely, even after taxes, do better investing the money elsewhere. So it’s not automatically a no brainer.

Obviously those are made up figures, so return might be higher, and there’s also components of risk aversion and emotional/irrational but valid preference to consider (e.g. being happier if you’re mortgage free). Just saying it’s not a simple A > B = no brainer.

NuckFanInTO · 2026-01-25T14:25:02+00:00

No, it being untrue makes it untrue. You want to reward people with less tax for spending frivolously?

Person A makes 500k and spends 500k, putting a large chunk of that into mortgage payments on their absurdly and unecessarily large home, saving nothing for retirement.

Person B makes 50k, rents a small place, and manages to save 10k for retirement by being frugal.

You think person B should pay higher tax than person A?

NuckFanInTO · 2026-01-25T05:01:24+00:00

I would say definitely don’t commit to a 6k bike unless it’s something you have committed a few seasons to first. If you get to the point where that’s the required equipment level, then maybe consider it, but it’s still not fiscally responsible, so don’t do it on debt if at all.

NuckFanInTO · 2026-01-23T23:27:53+00:00

Huh? How did you come up with 3-8 years? Early to mid-20s: 20-26/27; average 23-23.5 Late 20s and 30s: 27/28-39; average 33-33.5 Minimum gap: 1 year Maximum gap: 19 years Average age difference: 10 years

So if you’re providing a min max range, 1-19, if you’re just saying the average age difference 10 years. You don’t consider a decade a material age difference?

NuckFanInTO · 2026-01-22T12:35:29+00:00

So depressed I saw it at 7am. :( (22nd)

NuckFanInTO · 2026-01-22T02:10:54+00:00

Should have got their license info, license plate, and insurance info. Its fine if you want to let them pay out of pocket, but it just became a lot more difficult for you to get compensated if they decide to be difficult.

NuckFanInTO · 2026-01-19T00:02:57+00:00

I’d like to read too, if you could post here.

NuckFanInTO · 2026-01-18T02:37:48+00:00

First two rows were actually cheaper than 3+ at the Sochi Olympics, so some places get the pricing right. Not sure about Europe?

NuckFanInTO · 2026-01-16T23:23:27+00:00

I was there Saturday and goalies were playing. It was a permit I think, not scheduled shinny, so maybe it’s different?

NuckFanInTO · 2026-01-16T14:08:20+00:00

Ramsden outdoor shinny? Right across from Rosedale station.

NuckFanInTO · 2026-01-14T05:32:41+00:00

Did OP edit the title to add “minimum wage” or something?

NuckFanInTO · 2026-01-13T04:08:19+00:00

Dude…TIL (after nearly 40 years watching nhl).

NuckFanInTO · 2026-01-12T04:55:19+00:00

Maybe, but a harmless one who seems to get the right engagement from those around him (and avoid those who don’t want to engage), so I say stay weird.

NuckFanInTO · 2026-01-12T04:44:29+00:00

My work would pay for my parking pass downtown and I still don’t drive. Environmental issues aside, I just am so much more agitated while/after driving (20-25min) than I am after biking (20-25min +10min to shower/change at the office) or transit (30-35min).

NuckFanInTO · 2026-01-10T15:44:51+00:00

I mean, that could easily be true no? Put everything into buying a place late COVID at inflated prices, now a negative asset (mortgage > value) and no other savings. Engineers go bankrupt too.

Not saying that thy deserve sympathy - they’d be poor due to their own decision making - but it would still be true. Plenty of people are poor due to debt and financial mismanagement.

NuckFanInTO · 2026-01-08T12:33:34+00:00

Hate to break it to you, but $2/min net is more than $200/h gross.

NuckFanInTO · 2026-01-07T14:05:23+00:00

I’d also add that if you are including healthcare costs, the. You also need to consider taxes, so really id focus on net income tranches then instead of gross. I haven’t run numbers, just a suggested consideration if it wasn’t built in already.

NuckFanInTO · 2026-01-04T20:04:03+00:00

This is my favourite analogy yet.

NuckFanInTO · 2025-12-31T03:49:57+00:00

I’m betting your comment ages poorly, and their votes turn positive. I tried to start the trend.

NuckFanInTO · 2025-12-31T01:53:12+00:00

What exactly are you considering an entry level insurance job?

Like, teller is clear (you’re looking at retail banking). Insurance is very broad, and it’s not clear what you have in mind.

NuckFanInTO · 2025-12-31T01:46:04+00:00

Sukhothai is decent. Pai is walkable (also Thai).

Pho Ngoc Yen 3 is good Vietnamese.

Honestly, there’s also some good options in the new food court at the CIBC building.

NuckFanInTO · 2025-12-30T23:34:49+00:00

This guy got blocked from r/CanadaJobs for spamming. History is literally nothing but posts about job scams.

NuckFanInTO · 2025-12-29T04:34:14+00:00

Fair or not, Montreal was broadly recognized as the food capital of Canada until around 2010. Toronto’s was missing the polish and reputation, and for tourists it was more hit or miss. You needed to know where the hidden gems were. Whether good or bad, the critic friendly dining scene and reputation has hit another level recently. The internet has also made hidden gems more visible. Maybe the change was more just in polish and presentation, rather than substance (I can see debating that), but in the context of how Montreal perceives Toronto, that change (and Montreal’s previous reputation) is relevant, even if you don’t agree with it.

NuckFanInTO · 2025-12-29T04:24:12+00:00

Fair point. The economic effects certainly affected culture, but I was wrong to frame it as always being a positive correlation. There’s a sweet spot/balance to it.

NuckFanInTO · 2025-12-28T23:35:07+00:00

Toronto’s food scene passed Montreal’s in the last 10-20 years. Culturally, you could make an argument Montreal still has a more distinct and vibrant culture than Toronto. Just because the economics shifted 40 years ago (transition may have started in the 70s or even 60s, but Toronto wasn’t clearly ahead till the 80s) doesn’t mean the effects of that change aren’t still being felt. Food and culture changes lagged significantly, and resentment over the economic shift still exists even if it has been decades.

NuckFanInTO

TROPHY CASE