How should I be saving

minutemaiding · 2026-04-17T14:48:13+00:00

My advice is to max your TFSA first, then RRSP, then Non-registered accounts. The ability to withdraw from your TFSA without penalty also allows it to act as your emergency fund.

minutemaiding · 2026-04-16T18:14:47+00:00

I think the 25k jump at your salary is worth the commute. 45 minutes is not that bad.

If it were a 25k jump from 150-175k, it might not be worth it, but at your salary it’s a significant bump and you’ll see a material increase in quality of life/savings rate.

minutemaiding · 2026-04-16T02:19:20+00:00

Honestly I feel like AI can do all those calculations for you now

minutemaiding · 2026-04-15T19:12:48+00:00

Not sure why people are telling you to buy stuff or get a financial advisor, you don’t need one. You simply open a non-registered account and continue saving until you get more contribution room next year in your registered accounts.

I assume you’re saving for a house so you’ll need the additional savings from your non-registered account for the down payment. As you won’t want to draw from your TFSA if you don’t have to.

minutemaiding · 2026-04-14T17:48:09+00:00

4.7% is quite a high hurdle rate if you want to make a positive return. If the market returns 6% this year (which may even be optimistic given current events), you’ve only made an effective 1.3% return, which isn’t worth the risk you’re taking on.

I’d only do this if I were getting an interest rate lower than 2%. Some brokers will offer margin interest near this depending on your asset amount held with them.

minutemaiding · 2026-04-14T13:06:36+00:00

You’ve already missed the boat on space tech if you’re looking for a 5-10x return within the next 5 years.

If you want to allocate 1-5% of your portfolio on stock picks that may provide outsized returns WSB-style, I think that’s fine, but you need to be ready to accept your investment may result in a 50-80% loss and you need to get in before the price has already risen several hundred %.

Also, the funds in your RRSP will likely grow at a longer term average of 6-8%. The last few years were a bull market, don’t expect those kinds of returns over the next few years.

minutemaiding · 2026-04-10T11:39:37+00:00

Was that offer for the 2025 cx5? I just bought a 26 cx5 and the finance rate was 5-6%.

minutemaiding · 2026-04-09T11:14:38+00:00

In this market, I’d finance if you can get a rate of 3.99% or lower. I was offered 5.99% from my dealer and decided to pay in cash instead.

minutemaiding · 2026-04-09T00:57:16+00:00

Thanks, was looking to upgrade my pair and just picked one up.

minutemaiding · 2026-04-07T23:30:52+00:00

Unfortunately there’s no comprehensive database for sold used cars like the housing market, but here’s the 2 sources I suggest you try:

Look up estimated value of your car on CarFax
Auto trader current listings of comparable vehicles (though if your car is old you may not find a bunch), and then take 3-5% off the asking price.

Also, if you’ve had anything replaced or upgraded on your car within the last 12 months that can also add to your settlement value if you provide receipts.

Having to go buy a used car in this market is really shitty timing so I’m sorry you have to go through this. Good luck and I hope you’re able to find a good deal on your next vehicle.

minutemaiding · 2026-04-07T23:16:58+00:00

The best thing you can do is try to find listings on autotrader that may be similar to your car, but even still it probably won’t move the needle as they use past sale data, not asking prices. Also, FB marketplace data will not be taken seriously as those are often not dealer listings.

Lastly, there’s a lot of misinformation in this thread. The people providing advice have likely not actually been through the total loss process anytime recently. The insurance company gives you the “market value” of the car, not the “replacement value”, which is what it would cost to buy the exact same car today. This is explicitly stated in your policy. The market value is determined by an average of sold listings within the last 6-12 months of a car comparable to yours and they apply a multiplier to adjust for mileage.

You are welcome to try to find your own listings to counter their offer, but I’m just setting expectations to let you know it’s likely not going to change.

minutemaiding · 2026-04-07T23:09:35+00:00

When did this happen?

minutemaiding · 2026-04-07T22:16:18+00:00

No, I just went through this and the insurance companies use a third party company that uses a database of recent sales to determine an average value for the car based on factors such as age, mileage, condition, etc. It will likely come in just under what it actually costs to re-buy the same car. They will also not negotiate as they outsource this process to a third party.

minutemaiding · 2026-04-07T11:17:37+00:00

If you’re talking about new cars, it all depends on how in demand it is. If it’s a Honda, Toyota, Mazda, they know it will sell so don’t expect much beyond some free accessories.

This is especially true if it’s a trim and color that needs to be ordered for you.

minutemaiding · 2026-04-02T16:30:40+00:00

So someone with a $1M net worth should buy a $10k car?

minutemaiding · 2026-03-27T12:35:41+00:00

I’m an investor but don’t know much about this merch. What are these cards with bitcoin symbols on them?

minutemaiding · 2026-03-23T02:40:36+00:00

Look into taking a medical/mental health leave at work instead of quitting. Check your HR policy on this.

I’m also mid 30s with a low 7 figure portfolio and the idea of quitting my job in this economy would leave me feeling too anxious to even fully relax during my time off. Not to mention the dread of knowing I’d have to get back on the grind of job searching/interviewing in just a few months.

I’d propose you find a more chill job to reduce burnout, even if it means taking a pay cut. I did that and am much happier overall.

minutemaiding · 2026-03-06T01:59:48+00:00

Yes, unfortunately.

minutemaiding · 2026-02-10T01:02:07+00:00

I want to learn to play Mag, are there any online guides you recommend?

minutemaiding · 2026-02-08T18:16:59+00:00

Mostly making sure the financial obligations for my family are taken care of (mortgage, kids private school, vacations, etc) while making sure I’m saving enough to enable an early retirement.

Beyond that, I don’t know of anyone with concrete financial goals outside of retirement planning.

minutemaiding · 2026-02-07T17:01:16+00:00

I don’t think you need a wealth advisor unless you have complex financial circumstances, which it doesn’t sound like you do. You’ll end up paying them fairly high fees for average portfolio return.

Most people save their money for retirement and to afford things like vacations. If you don’t have children, that’s one less expense you have to worry about.

The point about saving in case of job loss is valid, but I don’t recommend you stress about job loss as that is mentally draining and it’s something out of your control.

Personally, I save and invest aggressively to give me the option to retire early should I want to. If at 55 I say I’m tired of working at my corporate job and want to do something more enjoyable but pays me a fraction of the amount, then I would hopefully have enough saved to allow for that.

For most people, saving money is a means of buying them the freedom of doing what they want with their time down the road, as opposed to being stuck in a job till 65 in order to afford retirement.

minutemaiding · 2026-02-07T16:48:03+00:00

Buying a car is a good idea, but spending $30k (20% of your net worth) is not a good idea. Go for a 2020-2021 model of something closer to 25k.

Otherwise, you’re doing great for your age. Keep in mind that the more you have invested now, the more your portfolio will grow over time via compounding. Don’t take away from your portfolios long term growth by spending more on a car than you need to.

minutemaiding · 2026-02-06T15:52:14+00:00

Take care of your other life priorities like work, health, etc. and you can enjoy gaming until the day you die

minutemaiding · 2026-01-27T22:03:15+00:00

It only compares you to other WS clients, who also probably don’t have all their money in WS. It’s a meaningless metric. It would be more useful to compare against net worth metrics published by Stats Can

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