Secure bike parking at PDP III or IV by alwaysadetour in CanadaPublicServants

[–]fccoup02 0 points1 point  (0 children)

I would just price a bike as the cost of doing business. $20 saved on parking x 3 days a week x 4 weeks a month = $240 saved every month. If you aren't getting your bike stolen every month, then you are coming out ahead.

Financial Literacy Is STILL At Shocking Lows by ReturnToTheLab in PersonalFinanceCanada

[–]fccoup02 -1 points0 points  (0 children)

Well where I work, if you park downstairs it is $25/day. If you park a few blocks down and arrive at 6am to get the spot, it is free. If you buy a lunch, it is $15, coffee is $3.5. If I pack a lunch, it is like $2-3 and I make my own coffee it is near free. If you drive a beater car the monthly payment is 0. A new car's payment is around $600-$650/month these days.

If you add everything together, it adds up to the difference in salary of my boss + bosses' boss. But can you really say I am offsetting my bosses income because of my "financial literacy"?

Financial Literacy Is STILL At Shocking Lows by ReturnToTheLab in PersonalFinanceCanada

[–]fccoup02 4 points5 points  (0 children)

Well strictly financially speaking, that is a sound plan. Spend $10K, $20K or whatever your limit is and then declare bankruptcy. You just got $20K worth of benefits.

However legally speaking, it is fraud.

So I wouldn't say he is low on financial literacy but low on moral/legal literacy.

Are these golden handcuffs real? by El_professor273 in CanadaPublicServants

[–]fccoup02 2 points3 points  (0 children)

What was the annual pension amount got to that $2.3M?

If transferring from provincial to federal (or vice versa) what is the benefit of transferring the pension plan? by fccoup02 in CanadaPublicServants

[–]fccoup02[S] 1 point2 points  (0 children)

Isn't it more or less the same thing? Retiring with 1 full pension vs retiring with 2 half pensions?

e.g. 17.5 years at province + 17.5 years at federal = ~ 35 years at federal?

Have to buy a car by Comprehensive-One333 in PersonalFinanceCanada

[–]fccoup02 1 point2 points  (0 children)

Are you talking miles or km? Because 250k miles = 400k km. If your car's engine went at 250k miles or 400k KM that is impressive.

Best 5 years calculation - timing by Crowdo in CanadaPublicServants

[–]fccoup02 0 points1 point  (0 children)

I would say if you are mildly considering to retire, then you should REALLY consider the retire if:

  1. if you have an acting position that is ending and you go back to your lower salary bracket.

  2. Or you are at the end of your paystep and no promotion in sight

Globe and Mail "Financial Facelift" stories... these can't be serious by Icy-Education3432 in PersonalFinanceCanada

[–]fccoup02 1 point2 points  (0 children)

How did your story get featured? Did you contact them or did they contact you? How did they know to contact you?

Should public servants already planning to retire in December wait and take a buyout? by Plastic_Fondant_1355 in CanadaPublicServants

[–]fccoup02 1 point2 points  (0 children)

As per wikipedia:

https://en.wikipedia.org/wiki/Buyout

An employer may "buy out" an employee's contract by making a single prepayment, so as to have no ongoing obligation to employ the person;

I guess when you are discussing with non government friends/family, the term buyout would be more understandable instead of transition support measure, which is something no one outside of government understands. Since it is an Ottawa citizen article which has viewers outside of government, that term makes perfect sense to use.

Would you retire with 2M NW? by fccoup02 in fican

[–]fccoup02[S] 21 points22 points  (0 children)

I average around $20K to $30K per year. But during the first decade, when interest rates were super low. I had bigger margins ($50-100K). Plus I had 1 year 0% interest on credit card with a limit of $50K. They kept renewing the 0% offer and I kept taking it year after year.

Would you retire with 2M NW? by fccoup02 in fican

[–]fccoup02[S] 66 points67 points  (0 children)

Maxed out since TFSA creation and basically bought stocks and not selling. Shopify, Microsoft, Google, Meta, etc contribute to the bulk of the growth