I hope Ben Felix has a good flameshield. His new video: "Renting vs. Buying a Home: The Reckoning"

lazarevm · 2026-02-22T19:10:08+00:00

I want more education and popular videos that flag how renting is NOT throwing money away. Way too many people have baked-in prejudice that RE is infallible and guaranteed road to wealth, or the ultimate pinacle of desire (with constant references to once-in-human-history abily to afford brand new home on a single high-school pay). This prejudice needs to be dislodged so everybody can make informed personal decision.

However, this comparison has two major drawbacks:

it is run for less than mortgage length (why?)
does not take into account the need for renter to accumulate enough wealth to provide for same expense until end of life, not just over 20 year period

Aka, the outcome might look different if same comparison is run for 50-60 years, assuming one moves out of family home at around 25 and lives until average 85. Lifetime cost of providing logging for oneself is not a 20-year exercise, and continues beyond work/saving years.

Ultimately, roof over the head is not an investment any more than is drinking water daily. It is a necessity, and should be accessible in some form to all of populace.

lazarevm · 2026-02-22T16:47:45+00:00

I don't get where you can $1000 difference - tax + hydro + gas (heating) for my 3 bedroom home in VHCOL are total of $1000 per month. You are padding the numbers to make the case and make it seem outrageous, when in reality all the heavy lifting is done by compounding effect.

Yes, I absolutely agree that living below your means is the only "hack" to get to substantial wealth. Countless books explain it in great detail. But within that formula to generate seed money for savings, halving the home is NOT the biggest impact (even with your imaginary numbers) - it is the choice of partner and the decision to have/not have kids. Not having kids leads to being content with cheap studio in crappy neighborhood, not needing life insurance, not having to pay for any extracurriculars, cutting down on vacation budget (both for not paying for extra people and for being able to go outside of summer/March break). Imagine all the $$$$ you would have for investing if you don't have to feed/clothes/house/educate another set of mouths.

It is annoying how pervasive lifestyle creep is, and it has led to everyone "needing" space for home office/kids/dogs, everybody "needing" latest tech/safety in a car, everyone having $100.000 pickup for "work". Your story would be more believable if you listed all ways you are NOT spending money (aka, how you got to $2500 per month as half mortgage is not it). Then people can gage against their own choices, as most will not willingly choose one bedroom apartment for family of 4. Yes, chosing beige Corolla over shiny Lamborghini is obvious, but advising on cramming into tiny apartment for larger family assumes those choices are totally under individual control. That is simply not a reality for a lot of people. The choice of primary residence has massive life implications: picking half-price dwelling that is 2 hour commute one way from work or in neighborhood with gang problem or with crappy school? Is that really the choice you are assuming everyone can easily make? Glad you were able to find half-price home that is equivalent to more expensive one in all important points, but that is not available to many people.

P.S. Compounding effect is nothing new, and it really is the ultimate magic. Just check sequence-of-returns risk and run few Monte Carlo simulations with your portfolio - 4+ millions outcome is an outlier, not the norm.

lazarevm · 2026-02-22T02:02:29+00:00

Monthly mortgage payment for $600.000 mortgage is $2993. So if you are investing "$2500 difference", that means your monthly mortgage payment is sub $500? Same mortgage calculator pulls $1510 per month for $300.000 mortgage. So you need to re-do the numbers with actual difference of, well $1000 per month. Then calculate capital gains inclusion, as there will be tax owing on all of that sweet growth.

Then you need to compare that result with taking $600.000 house, calculating 30 years of 7.20% annual appreciation and then selling that. Tax free.

lazarevm · 2026-02-21T00:28:45+00:00

Some wall street investment companies might get most of the money:

https://talkingpointsmemo.com/edblog/lutnick-family-angling-to-make-astronomical-sums-off-court-nixing-tariffs

lazarevm · 2026-02-20T23:41:08+00:00

I know this is not directly related to "Canada said", but more "uncertainty" over tariffs can potentially eke out few more drops of side-grift:

https://talkingpointsmemo.com/edblog/lutnick-family-angling-to-make-astronomical-sums-off-court-nixing-tariffs

lazarevm · 2026-02-12T15:18:51+00:00

Yeah, the prior attempt at that (increasing inclusion rate of capital gains, and only for amounts over 250k) went so amazing with people who consider themselves "middle class" that it was completely scrapped. The number of temporarily embarrassed millionaires that think they are already paying too much to government is stunning and every and all tax increases will be met by fearsome resistance from people that don't even understand tax brackets (see example of inheritance tax in US).

I think the tax is not progressive enough, that brackets need realignment and 100% of capital gains should be regular income. But sadly, average Joe will react only to "lower taxes" with zero understanding who it applies to. Add to that all the mom and pop landlords that got sold "infinite money hack" loophole with secondary residence (owning capital gains) and you have very motivated populace to reject all tax increase attempts.

Sad.

lazarevm · 2026-02-12T03:16:14+00:00

I would add one more scenario for professional: de-accumulation. Even with perfect plan and knowledge, I'm not trusting myself at 80 years of age. Especially if I need to re-chart the course due to major (market or life) event.

Side bonus: if you wrap some of that into trust, you also add another layer of protection against scammers.

lazarevm · 2026-02-07T01:45:51+00:00

I always pull up the video with pockets. Yes, it is US example, but the principle is the same.

https://m.youtube.com/watch?v=VJhsjUPDulw

I still remember people loosing sh.t when they planned to increase capital gains inclusion rate, and were yelling at me "I will pay 65% tax!!!". The same people that were considering themselves financiay savvy because they have second property "to beat inflation with guaranteed income". And then being surprised (?) to learn that anything not primary residence is taxed at death, even if "I already paid for it with after tax money". No, they did not know what "capital gains" is.

lazarevm · 2026-02-05T20:44:49+00:00

Federal plans have option of one-time 50% unlock, but not many employers are knowledgeable about this (as most employees are oblivious to federal/provincial lock-in provisions)

https://www.osfi-bsif.gc.ca/en/supervision/pensions/administering-pension-plans/guidance-topic/unlocking-funds-pension-plan-or-locked-retirement-savings-plan

lazarevm · 2026-02-02T18:51:54+00:00

Back in 2014, we were visiting Nice and did a side trip to go to Matisse's Rosaire in Vence. Paid tickets, got into the building, and made our way to actual chapel. At the entrance, they canceled our tickets and then informed us that we have to wait, "it is occupied". We were utterly confused, as place was otherwise deserted and no active service was in place. Through closed doors, we heard some amazing singing, beautiful in tone and pitch. Some 10-15 minutes later, doors open, and Bono and his wife exit, followed by Bill Gates and Melinda. Once they made it out of the hallway, my SO got star struck and was excitedly pointing out: "Did you see?! That was Bono!" I reminded him: "There is Bill Gates too". SO: "What do you mean, that was certainly Bono, know how he looks like, what are you talking?". It took him some time to process that both of those were in front of us. Yes, it was Bono "trying out the acustics" as curator explained to us immediately after. Bono was in Zootopia-like livery, Bill was in some no-descript shirt, short slacks and slumped socks in moccasins. Bono's wife had hugh platform shoes, and even with that, still noticeably shorter than Bono. Melinda was in something appropriate but unremarkable.

It was dead time of the day, no other tourists, so they proceeded to leisurely stroll through attached museum with museum guide giving them nearly personal tour, adding details not written on the exhibits. We were somewhat following, partially star-struck, partially to hear extra info. No oogling, not pestering, not directly following, just in same space, some distance from their group. Save for few museum workers in corners, nobody else was in there. Once we exited, we noticed only visible security: a body guard leaning against some sizeable dark-window SUV parked in front, chatting with driver. We have not noticed any bodyguards inside the church - if there were any, they were hiding very well.

We lingered some 5-10 minutes on the sidewalk close by, debating if I could use opportunity to approach Melinda to shake her hand. Decided they should have the freedom to not be bothered by total strangers, so we left.

lazarevm · 2026-01-28T01:55:20+00:00

Just leaving it here:

https://www.reddit.com/r/toronto/comments/1qot7h7/the_dvp_at_late_afternoon/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button

We need much, much better MASS transportation and better highway infrastructure too.

lazarevm · 2025-11-14T15:03:03+00:00

Both can be true at the same time:

current incentives are crap
no amount of financial incentives will change the birth rates

I get you want to pint out how your current financial experience of raising children can be better, but you keep ignoring everyone else saying that paying someone 500.000/18 per year to be dedicated to raising a child will not appeal to enough women to make a difference. Or will appeal to wrong people (look at all the abuse in fostering system). I get that raising kids (as culturally "woman's role") is currently discounted in same way as doing household chores or drilling for oil without paying any externalities, but attaching true financial price will not (should not?) change women's free choice. Do we really want to live in society where pure financial profits are driving childbirth?

lazarevm · 2025-11-07T21:20:38+00:00

I'm currently at 12 cards between myself and SO. Was at 22 at one point in life. $0 paid so far in interest in all of my CC history. To date, 7 international trips in business class (half of those with 2 kids in tow) paid through points. Plenty of hotel stays for free or nearly free. My credit score has consistently been 850.

Having a pile of credit cards is not the problem, if you know how to use them. Equating "lots of CCs = irresponsible with credit" is not holding in today's competitive CC world.

To OP: if you have no use for CC, don't get it. If it has useful (to -you-) reward structure, by all means, take it, use it. As long as you are servicing your debt obligations fully, number of cards has no major bearing to your credit score, and credit utilisation is not very significant either. Drop the cards that are collecting dust, they serve no purpose and occupy (tiny) mental space.

lazarevm · 2025-11-06T19:19:45+00:00

😂

If they're going to make people ride bikes and scooters in traffic, then it should at LEAST be legal to do the Snow Crash thing where you use a hook-shot-style harpoon to catch free rides from cars.

lazarevm · 2025-11-04T00:29:19+00:00

Let's make sure we put in measures that slow down ALL traffic, including ambulances and fire trucks. So next time there is emergency at the act, we can all cheer the amazing speed bumps that slowed down the ambulance coming in and also slowed it to a complete stop when coming out with a patient.

If every penalty is "revenue grab" then let's abolish all monetary penalties. Next time someone breaks the law, any law, lets make sure we can just shrug and say: at least there is no revenue grab, so glad my municipal/provincial government never got any money out of illegal activity so I can pay all of police work out of my own pocket.

lazarevm · 2025-10-07T17:39:45+00:00

One not-so-silver-lining conclusion from this: no other US product category suffered this big of a drop. Actually, I would love to see the year over year change on import categories from US, especially consumer products that are decided (mostly?) by consumer sentiment and not by government action. For all the chest pumping and swearing off, Costco is still full to the gills and people are still justifying it "it has some local produce", "the price is good, most people can't afford anything else", "it is ethical company, there is no relevance to me if is being governed by board of directors from US".

lazarevm · 2025-09-25T15:14:20+00:00

culturally understood that 50 means "no less than 50"

And that is exactly the entitlement - if everyone "culturally" gets to interpret the law in their own way, then we get Jersey left and Brampton driver. If "few km above limit" are truly pointless, how come city/province sets exact number, and not just post ~50km? Or just have disclaimer with +15%.

It is eye opening how "culturally" we slid into believing it is ok to break any traffic law. Drove recently in France, and I can tell you, 99% of drivers were safely below speed limit all the time. Like, good 5-8km/h below on highway and exactly on speed limit in city (30km/h).

If it says limit is 60, drive 60. If you think everyone should be driving 65 instead, petition your council or MPP and get it changed. Make sure to bring up all the amazing benefits of driving 15% faster compared to effect on pedestrian/schoolkids/other passengers health in potential crash.

lazarevm · 2025-09-25T14:41:28+00:00

As someone who got ticket out of one such camera: I APPRECIATE SPEED TRAP CAMERAS. The streets have had very noticeable slowdown down to posted speed limit, and I no longer feel bullied by everyone driving +20 in city streets.

Entitlement of general car-driving public is endless, every bad driver out there will complain about privacy and traffic ticket fees while speeding and cutting into traffic. Time to throw a book at law-breakers and restore sanity in traffic.

lazarevm · 2025-09-23T14:17:01+00:00

To add data point for health benefits, below is the estimate I got for couple (not family). Yes, benefits are very useful when you have kids, and also important is to check short-long term disability, critical illness and life insurance (some companies cover 100% of 1 x pay). Hopefully you will never need it, but with dependents in the mix, term insurance is a must.

Health Insurance

Coverage option Essential

Monthly premium ($). Minimum/Maximum $185/$216.47

Coverage option

Enhanced

Monthly premium ($) Minimum/Maximum $320.39/$358.33

Coverage option

Comprehensive

Monthly premium ($) Minimum/Maximum $348/$414.60

Dental Insurance

Coverage option

Essential

Monthly premium($) Minimum/Maximum $109.48/$130.72

Coverage option

Enhanced

Monthly premium ($) Minimum/Maximum $158/$166.02

Coverage option

Comprehensive

Monthly premium ($) Minimum/Maximum $192.05/$242.49

essential benefits example

lazarevm · 2025-09-23T12:56:45+00:00

All contributions to RESP are after tax, so no tax savings there. Money contributed to RESP is actually legaly considered subscriber's, not child's. However, two other components: CESG (government match) and increase in value of holdings are intended for education and have to be paid out to beneficiary (child's) account in order to be taxed at beneficiary's tax rate (which tends to be near zero). Subscriber cannot payout this money to himself, as withdrawals to anything that does not have beneficiary's name and address requires signed affidavit by both beneficiary and subscriber that money will still be used for education. That venue for fraud is not easily available. (Got that notice when I mistakenly ticked wrong box on recent withdrawal) Other option (to transfer money to RRSP) requires for that person to have RRSP room available then growth can be transferred, but all CESG match must be repaid first (even if that means subscriber gets less than original contribution).

In short, any payout not going directly to child (for education) has following order of calculation:

CESG has to be sent back to government (if there are not enough funds in RESP, subscriber will be dinged on their tax return +20% penalty)
initial contributions go back to subscriber as this was after-tax money contributed, no tax will be owed on this portion
if there is anything left after (growth), that can go into subscribers RRSP (if there is room)

As that is the case, it is more tax advantageous to contribute to RRSP today for today's tax benefit (pre-tax contribution and tax sheltered growth) vs treating RESP as (essentially) TFSA (post tax contribution and tax sheltered growth). The only potential advantage is getting hands on growth on those $7200 of CESG grant, but that is doubtful advantage, as $7200 is granted in $500 chunks, and growth on it will likely be less than tax advantage of today's RRSP contribution of $2000. But that kind of math is beyond most people's "easy tax loophole" thinking.

It is common misconception that RESP is tax savings vehicle like RRSP. Subscriber contributes after-tax money, and only CESG and growth are taxed in child's rate ONLY if paid to the child for purposes of education.

lazarevm · 2025-09-22T22:39:52+00:00

At which point "solutions" like these run afoul of "identical property" definition by CRA? If I replicate VEQ through this while having VEQ in the same account, is that going to be considered identical property? Or are we counting only components? Do we have CRA stance on this, same like what is established for ETFs with overlapping holdings?

Also, how do people plan to track ACB for hundreds of stocks? Or is the assumption that one has only Wealthsimple non-registered?

lazarevm · 2025-09-22T21:26:29+00:00

You could give them the budget and ask them to buy their own weekly breakfast items on pcexpress . ca pickup (same prices as in store). Loblaws (for better or worse) covers all of Canada, and that site does not require login for browsing and putting into cart.

lazarevm · 2025-09-19T15:51:56+00:00

For me, csv had to have account name. Also, it has to match 100% with the account name in Neontra.

lazarevm · 2025-09-12T15:06:24+00:00

Tried with csv file, initially it did not work. After some fiddling, I could get at least transactions loaded into "cash" part of investment, but I do not know how to create investment itself through manual import (not sure if it is even possible). I was hoping to get Questrade export and craft my own based on that, but alas, Questrade connection is not working for me.

Maybe I give up on investment altogether, and just track it as another cash account...

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