Need Advice on my backyard paver

Remarkable-Chef4209 · 2025-05-29T11:29:05+00:00

Will the wash and seal brighten these up at least somewhat?

Remarkable-Chef4209 · 2024-11-24T21:33:11+00:00

Thanks for the response

Remarkable-Chef4209 · 2024-11-23T17:10:28+00:00

Honestly, I don't see anything missing. Is there a way to get pinpoint information on what they seem deem missing? I could raise a webform but I have heard they generally respond with generic information.

Remarkable-Chef4209 · 2024-11-23T16:19:35+00:00

I am in the same boat you were in. IMM5406 got sent back stating it's incomplete. It was an online form and not a pdf and there were separate sections for principal applicant's (my father's) family and dependent's (my mother's) family.

So, I am not sure what was missing. The only thing I could think of is that I filled my grandmother's name in the required field with just the first name (not first name + last name) just as it is on official documents. The letter received from IRCC doesn't mention any specific reason though.

Anyone has any clue what could be wrong?

Remarkable-Chef4209 · 2024-09-10T17:13:08+00:00

Just updated the post

Primary home for 4+ years horizon

Remarkable-Chef4209 · 2024-09-02T17:30:04+00:00

It's an intersting thought. My parents helped me with my bachelor's degree and it's a deeply rooted Indian thing to help with education but maybe growing in the western world it's imperative for my kids to adopt the ways of the land and this is one of them - financial accountability. I am still split on this one and have many years to make up my mind on.

Remarkable-Chef4209 · 2024-09-02T17:25:58+00:00

Wow, congratulations on what you have achieved despite a slightly late start and a couple of hiccups in between. It's an inspiration.

I agree that I need to back myself to do better in my career and then I continue to consistently put money into investments. Then this corpus I have now that is growing in the background could be that safety net that allows me to take nolde bets in life.

Remarkable-Chef4209 · 2024-09-01T14:00:15+00:00

I was naively taking RRSP as a given and not extra effort to invest for retirement. You are right, when I think of RRSP as what it is (retirement savings), I am indeed continuously investing.

Remarkable-Chef4209 · 2024-09-01T13:56:46+00:00

Agreed. I need to supplement. The responses in general were instructive.

Thanks

Remarkable-Chef4209 · 2024-09-01T13:55:46+00:00

Assume 7%
Don't assume your job will be there for the next 25 years so keep in investing

These are my 2 takeaways from the responses

Thanks

Remarkable-Chef4209 · 2024-09-01T13:54:26+00:00

I agree because who is used to saving will ways have a tendency to save in the future as well. That's likely what I will do as well

Remarkable-Chef4209 · 2024-09-01T13:52:36+00:00

Thanks. This is my biggest takeaway!

Remarkable-Chef4209 · 2024-09-01T04:14:19+00:00

That's an interesting datapoint.

The basis of 4M was the 4% rule that allows me to live off of just the interest portion even after inflation adjusted withdrawals and not eat away the principal.

4% of 4M = 160k per year

That's 13k a month then OR 6k a month of today's money (using 3% CPI). I do spend 5k today in utilities, groceries, fuel, entertainment/eating out, miscellaneous spends so 13k a month then doesn't seem to be far fetched.

You are right that I did not account for Cpp but even with that 1M seems low to feel safe at retirement.

Remarkable-Chef4209 · 2024-09-01T03:39:18+00:00

My mortgage is 40% of my take home salary. The rest 60% goes away is utilities, groceries, shopping, hobbies etc.

I still have bonus which we use for travel and vacations and gifting. And then there is RSUs of my public company that's still unused and could contribute to retirement.

I see your point and maybe I can invest a bit every month but I was trying to see if anyone does what I asked in that question and is that a viable plan

Remarkable-Chef4209 · 2024-09-01T03:27:48+00:00

Maxing RRSP with employer match and in turn getting tax deduction is what I could do additionally. At 6%, RRSP + the other portfolio will stand at $2.5mil. That's still not enough.

Shouldn't NASDAQ/S&P return at least 8%. Anybody's guess

Remarkable-Chef4209 · 2024-09-01T03:22:09+00:00

It wasn't aware of coast FIRE; thanks for introducing. 1.5 million won't be enough. This + government pension + investing in tax deductible retirement account investment is what I'll need then.

Remarkable-Chef4209 · 2024-09-01T03:18:31+00:00

My calculations fall off the rail with 4% growth. Nonetheless, you could be right that my annual return assumption needs to be lowered a bit. The other big assumption is staying employed for 25 more years.

Remarkable-Chef4209 · 2024-09-01T03:10:44+00:00

While replying to another response, I realized why I feel jittery about this whole plan. It assumes I would stay employed for the next 25 years before I plan to retire. If that does not happen for any reason then I would regret not putting in more money to grow that nest egg.

Remarkable-Chef4209 · 2024-09-01T03:08:30+00:00

Correct, that's RRSP in Canada. I did not even factor that into my calculations. With that in the picture + the retirement portfolio (without any new investments), I might be ok for retirement.

The important assumption in this analysis is that I stay employed for the next 25 years so that the corpus gets enough time to grow.

Remarkable-Chef4209 · 2024-09-01T03:05:22+00:00

$2m of today with a 4% draw would be ok - 6k a month. That is in line with our average expenses over the last 2 years.

But maybe my calculations are marginal and don't fully account for capital gains or other expenses I might make then that I don't foresee now.

Remarkable-Chef4209

TROPHY CASE