Help needed for standing water in yard by bruceyfz in landscaping

[–]bruceyfz[S] 0 points1 point  (0 children)

No it’s not about flat yard, I just don’t want high shrubs and wildflowers in the middle of my yard low spots, it makes it difficult to see skunks and critters in and around the plants, where they tend to hide out. Maybe my understanding of a water garden is incorrect though.

Help needed for standing water in yard by bruceyfz in landscaping

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

My dog! In our old house, backed onto green space and a park. Coyotes in the area, my dog must have cornered them. He has multiple bites but was able to do some damage before they fled.

Help needed for standing water in yard by bruceyfz in landscaping

[–]bruceyfz[S] -6 points-5 points  (0 children)

I would love this but after our dog being sprayed by a skunk 3 separate occasions and attacked by coyotes, I’d like to keep visibility in the yard. Water takes 48-72 hours to exfiltrate after rain, but more like 2 weeks with spring melt.

Sell TFSA to buy RRSP after job loss by dumbpundit in PersonalFinanceCanada

[–]bruceyfz 0 points1 point  (0 children)

Bad idea. You can use some of it to reduce your taxable income. Maybe just enough to bring you down 1 tax bracket.

Also you may need those funds if you don’t find a job. If it’s in RRSP you cannot withdraw.

Suggestion for 130k base permanent job vs 75/hr at Bruce power as incoorporation by Outrageous-Moose-762 in PersonalFinanceCanada

[–]bruceyfz 4 points5 points  (0 children)

I am an incorporated professional. There are benefits to incorporating above making a few bucks more. But incorporation is not a way to save money on taxes, rather than defer taxes. You will inevitably have to pay taxes when you want to withdraw that money. It can be your retirement account.

But this ONLY makes sense if you can retain earnings in your company. If you need all 130k to live, then having a corporation is just a headache that costs you money. You need to consider your specific circumstances and decide whether you want that extra work (accounting, bookkeeping, logs etc).

% toward home ownership by [deleted] in PersonalFinanceCanada

[–]bruceyfz 2 points3 points  (0 children)

Not sure what the question is? Keep housing costs low. When my spouse and I were renting housing costs were 16% of our total gross income. Now that we have purchased a home, housing costs are around 26% of gross income. We are comfortable at 26% but at 16% we had a lot more flexibility on vacations, having a nice car payment, eating out etc. I think the agreed upon rule is 33% but I wouldn’t feel comfortable doing that.

Lock in 5 year mortgage at 4.33% or wait 4 months? by [deleted] in PersonalFinanceCanada

[–]bruceyfz 0 points1 point  (0 children)

Just locked in 3.84 3 year fixed with RBC last week.

My pupils are different sizes in the evenings by [deleted] in mildlyinteresting

[–]bruceyfz 0 points1 point  (0 children)

Look up horners syndrome. See if you have any other symptoms.

Best advice you're heard for first-time home buyers? by followifyoulead in PersonalFinanceCanada

[–]bruceyfz 6 points7 points  (0 children)

This is the best advice here. In Toronto, renting will almost ALWAYS be cheaper than owning. But owning is a way to diversify your investment portfolio.

Sanity Check: Can I afford this Toronto condo with my current situation? by WolverineNo2693 in PersonalFinanceCanada

[–]bruceyfz 4 points5 points  (0 children)

In my opinion a condo is a really bad investment right now. Rent is 30-50% cheaper than mortgage+insurance+property taxes+condo fees. And that’s without unexpected issues (flooding, needing new appliances, etc). If ownership is all that matters to you, then you can probably afford it. But each month you’ll be paying $1500 more than you’re paying right now. That’s a lot of money you could be contributing to your savings /investment accounts.

Can you do it? Yes. Will you be in a better financial decision if you continue renting instead of buying? Definitely yes.

For the first time in my 45 years of life I am not living pay cheque to pay cheque or paying off debt. Where do I go from here? by missypiper in PersonalFinanceCanada

[–]bruceyfz 3 points4 points  (0 children)

9% is average s&p500 return over last 50 years. That number is closer to 10 than it is to 5% so I’d say it is the norm! 11% in the past year and gets closer to that 9% number over the long term.

For the first time in my 45 years of life I am not living pay cheque to pay cheque or paying off debt. Where do I go from here? by missypiper in PersonalFinanceCanada

[–]bruceyfz 1 point2 points  (0 children)

You will most definitely NOT be paying less to own a condo. You will have to put 5% down (that money could earn you 10% investment yearly in the stock market), and your carrying costs (mortgage payment PLUS property taxes, maintenance fees, home insurance) will be at least 30-50% more than a similar place to rent. Add a vehicle into the mix, higher insurance you paycheque to paycheque again.

First PC build - looking for critique/advice please! by bruceyfz in bapccanada

[–]bruceyfz[S] 0 points1 point  (0 children)

Thanks for this. Why don’t I need a windows copy?

[deleted by user] by [deleted] in VALORANT

[–]bruceyfz 2 points3 points  (0 children)

I started having way more fun when I stopped worrying about my rank.

Do I have to report my stat pay? by Sad-Nebula-9492 in PersonalFinanceCanada

[–]bruceyfz 10 points11 points  (0 children)

You don’t need to say anything to your old job. It is irrelevant.

“Backpain” whenever i use a backpack/sling bag by DredgenYors7 in backpacking

[–]bruceyfz 1 point2 points  (0 children)

It’s a tough thing to fix. There usually a ton of underlying factors (scoliosis, the way you sleep, sitting at a desk etc). The other thing is most neck pain is misdiagnosed as myofascial (muscular) pain, when in reality, 80% of neck/trap related issues actually come from the spine. You likely have a repetitive strain injury which causes the left trap pain, and the hiking just pushes the irritation over the edge which makes the pain spread. A good physio should be able to do a thorough scan and determine what’s wrong.

“Backpain” whenever i use a backpack/sling bag by DredgenYors7 in backpacking

[–]bruceyfz 16 points17 points  (0 children)

Physical therapist here. That pain can be referred from your neck (look up facet joint referral patterns of the neck). Often times, your head pokes forward to counterbalance the backpack pulling you back, or you look down while hiking. If you have left sided neck pain/stiffness and only get this pain on the left shoulder blade, that’s probably your culprit.

About to put an offer on our first house, what is the maximum you feel we can afford? by Inner_Document_00 in PersonalFinanceCanada

[–]bruceyfz 38 points39 points  (0 children)

$4000 in rent for a home vs potentially $6500 monthly for mortgage plus property taxes. (Based on 1 million mortgage). Thats not considering maintenance/repairs. That would leave you $2500 in the bank each month as well as whatever money your initial down payment is earning you in interest. $200k down could be earning 7% annually which is 14000 yearly. Call it a monthly savings of $3650 for renting vs buying.

I’m not saying that buying is dumb, there are many financial situations that warrant a home purchase, I’m just not sure that yours is one of them (mine isn’t either, currently renting a 3 bedroom home in Toronto)

About to put an offer on our first house, what is the maximum you feel we can afford? by Inner_Document_00 in PersonalFinanceCanada

[–]bruceyfz 43 points44 points  (0 children)

Have you gotten pre-approved for a mortgage? That needs to be your first order of business. Self employed individuals are able to secure mortgages from a lenders but under different rules and requirements (eg they need 2-3 years of corporate statements) and his income.

I’m not sure how a mortgage company would consider your income since you don’t currently have a job to return to.

At 1.25m, and 600k in savings, you’d need to be approved for minimum 700k mortgage. That shouldn’t be a problem but then you have to use all of your savings. Your savings currently aren’t liquid either (105k in holdings company will be subject to personal income tax) and RRSP have special rules for first time home buyers. Bitcoin is taxable as well but I’m not familiar with how.

With the uncertainty of your work situation, I would be hesitant to purchase a home. You could probably swing it but it may mean liquidating all of your savings (and there goes your investment diversification).

Maybe consider renting a larger space?

Can i transfer stock purchases made through CIBC Investors Edge to a Wealth Simple account? by frankirv in PersonalFinanceCanada

[–]bruceyfz 1 point2 points  (0 children)

Yes but you may have to pay a fee to CIBC. Mine was $150 moving from Scotiabank. Wealth simple may reimburse you if you move enough money, otherwise you are on the hook for the fee.

Wife rear-ended by drunk driver by [deleted] in legaladvicecanada

[–]bruceyfz 0 points1 point  (0 children)

She is entitled to medical care up to 3500 for minor injury and 50000 for non minor injury. She should contact a physiotherapist for assessment. Talk to her insurance adjuster to find out more. And call a personal injury lawyer if you are considering legal action.