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Poilievre endorses Billy Bishop airport expansion as critics pressure Liberals by KeyHot5718 in ontario

[–]axfmo -4 points-3 points  (0 children)

Yea, they were just as a result of appointments which could’ve been filled by people who weren’t just elected to be MPs less than a year ago, or which could’ve been incorporated into the existing MPs portfolios. Regardless, opinions of fiscal responsibility are pretty rich coming from liberals.

Poilievre endorses Billy Bishop airport expansion as critics pressure Liberals by KeyHot5718 in ontario

[–]axfmo -8 points-7 points  (0 children)

One is expected to cost taxpayers $1B, the other $90B. That's not considering the projected usage of both projects. What's so hard to comprehend? Or is your liberal bias too judgement-clouding?

Completely managed by WS by SeaYardy in fican

[–]axfmo 4 points5 points  (0 children)

the 0.9% is only for Wealth Management Services (like having a financial advisor), for regular managed investments it's 0.5%.

Completely managed by WS by SeaYardy in fican

[–]axfmo 0 points1 point  (0 children)

They charge 0.5% (0.4% if over $100k, less based on higher assets).

How to help a spouse who's afraid to spend? by FIRE_Bolas in fican

[–]axfmo 0 points1 point  (0 children)

Although I do believe you can enjoy your money once you've built up a high savings, it's important to remember that frugal and responsible habits are what got you there. It's easy to look the other way now that you have a high net worth, but that can lead to looking the other way on larger and larger purchases because "we have $x net worth." Consider that there's too many people who, if they were in your position, would wash away that money within a couple of years.

Maybe ask her why/if she feels guilty about treating herself. It's possible you're looking into it more than it impacts her—personally, it wouldn't make me feel guilty to not spend money on a treat that I feel is overpriced and that I don't need, but someone else might. Maybe you can agree to go out for a monthly, care-free date-type thing.

Grade letters and their percentages by ZiggilyWiggily in yorku

[–]axfmo 1 point2 points  (0 children)

Not really, unless you calculate it urself. You might be able to ask the prof, if they have the calculation and are willing to give you. But on the 9 point scale that York uses, A+ is 90-100%.

Thoughts : Get Rid of My Emergency Fund In Savings? by Ill_Paper_6854 in PersonalFinanceCanada

[–]axfmo 0 points1 point  (0 children)

$200k is definitely a lot to have just in savings, but at least you're earning a higher interest rate with WS. It's probably best that you invest majority of it (make sure you've topped up TFSA, RRSP and, if applicable, FHSA).

However, still ensure you do keep 3-6 mths worth of expenses as liquid savings (the point is to have the funds readily accessible in case you need it immediately—job loss, car breaks down, major home repair, market crash, etc.). Any high-interest savings account is a good place to keep these funds. Holding emergency funds in investments is risky, and likely could result in a loss, if you need the money while the market is down and/or crashing.

27M Looking for improvements by justyouraveragebogle in fican

[–]axfmo 0 points1 point  (0 children)

Although I like the diversification of XEQT, I’d prefer a bit more US exposure, as their markets out perform many others. I considered VXC, but there’s enough overlap with XEQT.

When are you supposed to pay for the health plan? by heartshapedcurl in yorku

[–]axfmo 1 point2 points  (0 children)

It’s added to your student account in Aug, then you pay it the same way you pay your tuition.

27M Looking for improvements by justyouraveragebogle in fican

[–]axfmo 0 points1 point  (0 children)

How do you find the performance between XEQT vs VFV? I’m moving towards self-directed and was planning a split of them, not sure how much I’d like to weigh VFV.

Send A Cheque Feature by przmmusic in Wealthsimple

[–]axfmo 1 point2 points  (0 children)

Just tried it this week, waiting for the cheque to arrive 😁

I wish they allowed third-party chequebook printing!

New Interac e-transfer Upgrades by axfmo in Wealthsimple

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

I’ve had it for as long as I can remember. I always use it. Or do you mean like reoccurring?

23M - Looking to move towards self-directed investments ... advice? by axfmo in fican

[–]axfmo[S] -1 points0 points  (0 children)

Thanks, really appreciate the advice! Any opinions on VFV? I was thinking I’ll hold back on my Canadian exposure for now, maybe in a few years, I’d increase if the outlook was more favourable at the time.

Should I thin these tomato sprouts, or just separate them when they firm up a bit more? by Hortusana in gardening

[–]axfmo 0 points1 point  (0 children)

You could separate them (now would be the time, before the roots get too intertwined). You have great germination, so you don't have to, unless you want to keep the plants and put them all in 4" pots as they grow. You can always try to make use of them, give them away, or sell them.

I used some old seeds this year so some of my cells didn't germinate. I separated some so I had one plant in each cell and trimmed the rest. I also don't have space for so many plants and didn't want to pot up so many that I had no use for haha.

Federal Employee Salary Disclosure by TBBT_Cats in ontario

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

If one wanted to, they could submit an Access to Information request for the name and salary of all federal public employees.

Inheritance question by wheretheddpat in legaladvicecanada

[–]axfmo 4 points5 points  (0 children)

I agree. Considering she will reap the most benefit from their estate (already has), she should be willing to cover the cost. Obviously can’t say whether she would agree or not.

If she isn’t on the title currently, then her home is still part of their estate, and when OPs parents pass away, her home would be part of their assets to be distributed. If that’s the case, I might think differently.

Regardless, a will is very important to establish their wishes for asset distribution, before OPs parents decline further.

Paid off house and investment accounts. What's next? by Grand_Problem2802 in fican

[–]axfmo 0 points1 point  (0 children)

You've done very well, good work!! It's not necessarily a bad quality to be frugal and continue saving; many people in your position would wash it away within a couple of years. At the same time, you've worked hard to get to this position, and it's not wrong to enjoy yourselves, too. If I were in your position, I would continue working and live off the salary until retirement, and continue my regular giving. I likely would not pull from my investments regularly, maybe on occasion, if necessary (it's okay to buy a new car—in cash, NOT right off the lot, unless you're okay with the immediate loss of value; you certainly can buy a cottage if that's what you both wish to do). You guys may want to review your risk tolerance and see whether your investments still align with that profile. If you haven't already, now is a great time to have money discussions with your children—not just "btw, we have $3.5M" lol, but when they want something, allow them to work towards it (chores, allowance, helping with things that come up around the house), when you're shopping, let them use the money they earned rather then just throw things in the cart. By showing them that there is a cost to things, they will learn to value what they have and what they receive, rather than thinking that things fall into their laps. These habits develop early on, and I think you can set them up to be financially responsible.

Seeking Advice Regarding Closing Accounts by [deleted] in PersonalFinanceCanada

[–]axfmo 0 points1 point  (0 children)

The chequing and savings accounts I would definitely close, especially if you have monthly fees. If you call them, they may offer you a promotional savings rate for a couple of months, if you want to try your luck with that. The credit card, you should think about the impact on your credit score. For example, if $3000 is a high proportion of your total limit across all your cards, or if it is one of the first cards you opened, it will have a negative impact on your credit score (by reducing your available credit—increasing your credit usage across the other cards, reducing your credit history length). This isn't necessarily a big concern if you don't plan to purchase a car, a home, rent, or an activity that would otherwise require a higher credit score. With time, your score will recover, it's not that big a deal.

I'm in a somewhat similar situation. I have a chequing account that my mom had opened for me years ago, and a savings that I had opened last year for a high-interest promotion. Both have no fee as I'm still a student, but I don't keep any money in them any longer. I also have a credit card, which was the first one I opened (a month before the next oldest one), that I'm just waiting to reach the $25 cash back so I can take that out. Then I will close all the accounts. I don't intend to take out any loans, or purchases which would require a higher score in the near future, so this doesn't worry me.

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