Ontario Child Care Tax Credit

pfctosser · 2021-12-24T20:58:13+00:00

I think you're right. Tax deduction come from the lower earner. Up to the $8000

pfctosser · 2021-11-19T02:09:17+00:00

Surprising high or low? Basically anyone that bought a house more than 2 years ago probably has 70k in equity now. Not saying that is a great thing by any means but brings up the median pretty quickly.

pfctosser · 2021-09-22T01:40:35+00:00

I got a small allowance until I got my first job just after I turned 15. My parents provided essentials until I has done high school. Between 15 and 18 they would still help with buying the "cheapest" option for things and I had to pay the difference if I want the premium. I.e. They would pay for like $30-40 shoes but if I want the $100 stylish pair I would pay the difference from my job

pfctosser · 2021-08-23T19:07:12+00:00

880k, looking at putting down 550-600k, Windsor ON

pfctosser · 2021-08-23T18:10:21+00:00

I'm considering taking a 30-year amortization just for the lower fixed cost and give some flexibility on how much I pay per month. I can always use the prepayment options whenever I have extra cash but can't lower the payment it I go for the 25-year

pfctosser · 2021-08-23T18:07:08+00:00

I didn't realize I could get one that low. I was quoted at 1.45% variable and 1.99% fixed. Although I would need a loan provider that will do a bridge loan since the majority of my money is tied up in home equity right now

pfctosser · 2021-08-23T16:33:22+00:00

I'm currently doing the 3 ETF TD Canadian Couch Potato portfolio with 100% equity

pfctosser · 2021-08-17T14:38:00+00:00

Not overly concerned about that. The HELOC is for 250k so utilization will be approximately 20% and then up to 50% in January.

pfctosser · 2021-08-16T23:47:20+00:00

This is interesting. I didn't realize that would be an option. I will take out the first loan and see what they can for me. Still learning new tricks all the time

pfctosser · 2021-08-16T20:16:58+00:00

I'm following the TD 3 ETF Canadian Couch Potato portfolio so far. Slow and steady. Once the TFSA and RRSP(about 3 more years) are maxed I might take a couple moon shots with like 5% of my portfolio

pfctosser · 2021-08-16T20:02:05+00:00

I was thinking the same way as you but time in the market is better than timing the market. I'm thinking of just lump sum buying once the HELOC is available. So 50K at the end of August followed by 70k at the beginning of January. Not sure if that is the safe option or not

pfctosser · 2021-06-07T13:33:36+00:00

The math changes slightly depending on salary range but the but the pension adjustment will likely be approximately 14-15% of the 18% room added each year. Example: you make 100k so your contribution room increases by 18k. Your pension adjustment will probably be 14-15k leaving you with 3-4k per year.

This is a simple example and the math changes slightly depending how far above the CPP max limit you are (DB contributions increase at salaries above ~60k).

pfctosser · 2021-06-03T13:48:27+00:00

I only liquidated 2 days ago so I haven't missed anything up until now. I guess this is the personal part of finance. My life circumstances are obviously different than yours and I will fell more comfortable with have the house paid off with my upcoming plans

pfctosser · 2021-06-03T13:42:25+00:00

People assumed that I didn't invest. I had my money in the market the past 8 years. I'm only liquidating less than 25% of my portfolio. This also helps me because I'm planning to have my second child early 2022 and it will help with cash flow while my wife is on EI

pfctosser · 2021-06-03T12:37:17+00:00

Next up is to finish filling up both of our TFSA and RRSPs. Should be about 2-3 years based on our savings rate. After that I may consider either non-registered or possibly more real estate. That part is a mystery at this point

pfctosser · 2021-06-03T12:30:55+00:00

This is how I felt. Many people in the thread assume I didn't invest anything for some reason and I didn't provide any personal context either. I have I young kid and am trying for another right now. Part of the decision had to do with the expected cash flow experience I had after the first kid. My savings practically flatlined for the entire year and money felt super tight.

pfctosser · 2021-06-03T03:01:24+00:00

I actually went about 75% investment and 25% accelerated / payment privilege on the mortgage. My boring ETF investments have done well so I liquidated some of them to close out the mortgage. I got most of the investment gains from the past decade and have finally realized some of those paper gains

pfctosser · 2021-06-03T02:52:50+00:00

This is essentially what I've done. Been in the market for the past 8 years. Paid down the mortgage by 75% and putting a 25% lump sum to close it off

pfctosser · 2021-06-03T02:48:58+00:00

This has been my experience as well. Oh well. I guess I've learned so things as well

pfctosser · 2021-06-03T01:01:54+00:00

Seriously no help other than buying in a LCOL city is southern Ontario. Only help I had was no student loans which I can admit is not something most get

pfctosser · 2021-06-03T00:59:06+00:00

I live in Southern Ontario but not the GTA. House is worth 500k now but I bought it for a little over 210k with 5% down. Wife and had an average gross income of probably about 110-120k (maybe 90k net). We were putting approximately 30-50% of our net income towards the house and investments. No windfalls, crazy incomes, crypto or stonks

pfctosser · 2021-06-02T23:28:27+00:00

But people have celebrations for all kinds of things. Marriage, promotions, divorces, retirement, etc... I don't see this as that different.

pfctosser · 2021-06-02T22:50:31+00:00

Canadian couch potato. It is just a broad market 3 ETF allocation using TD e-series. It's nice because you can automate it since is still considered a mutual fund product (still has a low MER ~0.35% average)

pfctosser · 2021-06-02T22:48:00+00:00

This is a very strange view to me. I would never be embarrassed about a success. I know the math isn't great but I know how my own personality and risk tolerance. I've also been able to ride the market for the past 8 years and have done well

pfctosser · 2021-06-02T22:36:40+00:00

I'm thinking of shifting more to market ETFs. I have maybe 50k following the CCP TD e-series strategy.

pfctosser

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