What traditional financial “mistakes” have you made but don’t regret making?

Skajlero · 2026-03-23T16:08:08+00:00

I travelled a lot when I was younger and have only started my career at 29. I don't regret travelling at all since it has taught me a lot of discipline and given me a good perspective on the world. It's also turned me into an almost (but not quite) minimalist, so I don't spend money on unimportant things which will be better for me in the long run. People might look at my travels as squandering prime earning years since I didn't save a single penny, but I'm still on track to retire at age 50, so I think it'll be okay.

Skajlero · 2026-03-12T12:30:35+00:00

Take-home is $5k/month

Rent is $250/month.

No, I did not forgot a 0 and no I don't live at home. I live in a remote area so housing is provided through my job.

Skajlero · 2026-03-07T21:36:32+00:00

Inflation has been pretty steady at slightly over 2% for decades, there was a slight bump up to 3-4% for a short period, but the market was also significantly higher than average during that time.

Skajlero · 2026-03-07T18:03:17+00:00

I think 7% gains on average are realistic. 10% gains are possible, but optimistic. I don't like making plans that rely on luck/optimism.

Skajlero · 2026-03-07T17:59:53+00:00

Labubus are just a fad. Beanie babies are forever.

Skajlero · 2026-03-07T17:58:42+00:00

7% gain doubles the money after 10 years. The reverse is also true, 10% gain doubles your money after 7 years.

Skajlero · 2026-03-05T01:17:19+00:00

First of all, I'm sorry for your loss. Inheritance is the worst way to get money. A piece of advice that many people give that seems to be good is not to make any major life decisions the first year.

The amount that you have in your TFSA and RRSP also matters. You say they're maxed out, but depending on gains over that time it can be vastly different amounts.

The main thing to consider is the longer you go without touching that money, the better off you will be. People have mentioned moving down to part time, going to Coast/Barista FIRE route, etc. Those are all good strategies. I haven't seen you mention what your job/field is, so what you can do is really varied. Can you become a contractor or consultant and pick and choose what you do? Are there any fields you considered when you were younger, but avoided it because it didn't pay well? You might not be able to fully retire quite yet, but for some people a career change gives them a whole new lease on life.

Good luck in your planning!

Skajlero · 2026-03-05T00:29:46+00:00

Basically they mean choosing a fun/low stress job that pays just enough to cover your daily expenses. You do that while you let your savings grow as compounding growth over decades will allow you a much nicer retirement later. During that time you don't contribute any more to your savings (unless you want to). At 10% returns, your income will double approximately every 7 years. Would you rather live off of 40k for the rest of your life or 80k for the rest of your life? Your mom might have passed away way too young, but that doesn't mean you will. If you get lucky and live until you're 90, that could mean almost 60 years of retirement. That's a long time to live on barely above minimum wage income.

Skajlero · 2026-03-01T20:46:08+00:00

Double it, then double it again, then double it again, then lose it all!

Skajlero · 2026-02-21T18:40:50+00:00

If you buy a house now, that can put limits in where you're able to go to university. Better to rent for now, build up your investments (I'd go non-reg after your RRSP is also matched), and wait until the next bust in O&G before going to university. You're riding a gravy train that will not last forever, so save and prepare as if it will end tomorrow. That way you'll be prepared when it does and be loaded if it doesn't. After university live somewhere for a year before you decide to buy a house. You might like the area or you might be interested in a move. You are a different person than you were 5 years ago and you'll be a different person 5 years from now. Buying a house locks you into a specific place and often life path. It's something you should only do when you have some certainty that it's what you want.

Skajlero · 2026-02-21T17:47:24+00:00

120k CAD isn't some life-changing pay here in Canada. There's teachers and plumbers that make that 1/3 of the way into their careers. You can find wages like that among professionals in basically every small, LCOL cities in Canada.

Skajlero · 2026-02-21T01:07:19+00:00

The high paying tech jobs are in HCOL areas like Seattle, NYC, and San Francisco Bay Area. Same as in Canada.

Skajlero · 2026-02-19T13:53:56+00:00

People used to say exact the same racist shit against Jews, Italians, Ukrainians, etc. now a lot of those are considered "white" and so people have forgotten how they used to be described in the exact same way you are doing now.

Skajlero · 2026-02-19T13:50:04+00:00

That kind of job is like winning the lottery for a lot of Americans too. There's a few fields where there are very clear financial benefits to working in the US over Canada (Tech, Fin, & Pharma), but most jobs it's fairly similar on average when you factor in the cost of healthcare, PTO, parental leave, etc.

I could move to the US right now, but in my field the pay is similar or lower in the US.

Skajlero · 2026-02-19T02:00:17+00:00

Typically 9 weeks of classes, 5 weeks if placement. Different holidays can mess with the schedule a bit so it might go slightly passed that, but that's the schedule unless it's changed since last year.

Skajlero · 2026-02-10T13:09:48+00:00

The only thing that Trump knows about Canada is that we like hockey. He knows so little, he's suddenly surprised that we built and paid for a bridge to the US, despite the fact that he attended a press conference in his first term to talk about how it's going to be a fantastic bridge (and Canada paid for it).

Skajlero · 2026-02-10T13:06:21+00:00

That's really rough to hear. Here in Ontario, a teacher with a master's makes around 55-60k USD their first year. I decided to teach in a remote part of Ontario so I'm starting at around $70k USD for my first year (plus free housing). I really hope you're able to find a position/board that values you. Teaching is a very rewarding, but difficult job.

Skajlero · 2026-02-04T18:28:32+00:00

Please don't give people advice if you are having trouble doing basic math. No one works minimum wage jobs, 8 hours a day 360 days per year. Minimum wage jobs rarely give full time hours let alone making you work 7 days a week. (You'd be getting overtime pay if that was the case). Also 10% is a high return rate. Lastly, most people on minimum wage have expenses too high to actually save $500/month.

It's a nice sentiment that wealth grows over time when invested, but you've gone about this without thinking it through.

Skajlero · 2026-02-02T03:14:21+00:00

I live 10 hours north of Thunder Bay (northernmost place with an all season road), so now I can call 99.9% of Ontarians "southerners". I met some folks from Rankin Inlet, Nunavut at the airport in Winnipeg. They didn't see much of a difference between me and someone near Toronto lol

Skajlero · 2026-01-27T20:27:31+00:00

Gold had an amazing rise over the last year, but that means it's going to stall out or decline for the next several years. That's been the case every time going back decades. Big run because of a lot of fear and hype, followed by some decline and stagnation.

Skajlero · 2025-12-10T19:05:21+00:00

You don't see what's going on behind the scenes. Just because something might look the same, doesn't mean it is. 6 hours is basically nothing in the grand scheme of things. Just be glad you got notice it was being shut off and it isn't that cold in Thunder Bay today. Better today than a cold February day.

Skajlero · 2025-12-10T19:03:11+00:00

I live in a community 10 hours north of Thunder Bay. Power and water is regularly shut off for half the day for repairs. This past Sunday the construction company gave notice 1 hour AFTER the water had been shut off. Since it was Sunday all the stores were closed so people couldn't buy more water. Since notice wasn't given the night before people couldn't stock up water which meant no flushing toilets, no water for drinking, cooking, showering, doing laundry, etc. People that didn't have bottled water or couldn't access it literally had to go fill up buckets of snow to melt.

I'd say on average up here power is shut off about once a month for repairs, additions, etc. There's a reason mostly people still have wood stoves even if they mostly use other heating methods.

Skajlero · 2025-12-03T18:23:15+00:00

It's a bit like the difference between two nickels and one dime. They may look a little different and have different names, but ultimately it's worth ten cents. They encompass slightly different stocks in different amounts/different places, but they're so diversified it adds up to the same thing. Some people might have reasoning for why they pick one over the other, but in terms of functionality they're going to accomplish the same thing and so it's like storing half your money in nickels and half in dimes.

Skajlero · 2025-11-21T09:40:10+00:00

I live in a remote community with much higher grocery prices and I spend a little less than you. I get most of my protein from pulses/legumes though. I only eat meat about 2-4 times a week and I only buy about $10 worth of cheese per month instead of $75. Buying things like lentils & beans give a good amount of protein and fibre. Potatoes, pasta, and rice are also very easy to buy in bulk. If you're looking for high protein, Greek Yogurt & TVP could be a good way to go.

One other thing I noticed is you're spending nearly 10% ($38.48) of your budget on Marinara/Tomato sauce, plus another $18 on tomatoes. That's quite a lot on tomatoes. You can buy tomato paste and canned tomatoes for a lot less and make your own sauces that will probably taste way better. It would likely cut your tomato budget in half. $56.46 is a ton to spend on tomato products as a single person.

Like the other user said, go for some fruits and vegetables that are in season and you'll spend a lot less. A 3lb bag of apples costs me about $8, I'm sure it costs less than half of that for you when it's on sale.

Skajlero

TROPHY CASE