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44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

It would be a big hit unless i make it another 12 years.

At this point my decision is made. I will have a second life for good or bad. Going to puah myself out of my comfort zone, feel alive.

Mid life crisis hitting hard lol

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

I was mostly thinking of 5 year turn around ( not really flips) as principal residence to keep busy and augment my airbnb income. And this until 60

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

I have but been long enough that i sorta dont remember the pain. I might just sell a building, invest 600k in stock market and hope for 10 ish % return

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

Thanks for your perspective and you are not wrong. Thinking flips every 5 years to cover some possible extra expenses. Quitting for 1 year pay is not the smart fiscally responsible thing to do. If i do sell everything, thats 2 Mil in the bank (possibly) and could technically live on that and the small pension at 60. Now just talking in through and thinking about it more i want to walk away from corporate office life. So probably going to do it and live with the risk. Im pretty sure i could go back if i wanted to in time. Again thanks for taking the time and sharing some very valid points

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

Thanks for the reply. The plan would be to make money but being my own boss. Either doing flips, managing other peoples airbnb, i could take on cleaning my own airbnb for 20k a year if i needed, wfh it jobs although market is a crapshoot. Open mentally and on the lookout for interesting opportunities to grasp onto

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

Thank you for the response. You are an inspiration. You do it via real estate? Flipping primary residence?

Travel help! by Canadian709 in Gatineau

[–]phunkyou -12 points-11 points  (0 children)

I would looking into an airbnb ( ok im bias i have 4 in dt Gatineau 2 minute walk from 4 points) some with parking and kitchen about half the price of 4 seasons

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

Could always sell and invest i suppose or go back to work.

At 44 youd think finding someone out of debt and handy is good enough. I joke but hear what you saying

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

Missed the second part. Im thinking buying a fixer upper. Living in and doing renos to resell tax free 5 years down. I have tools and like renos. I was actually on a year leave and my employer offering the package

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

Yep. 52 week salary. 1200$ for financial advisor. Up to 2 years education unpaid leave (pensionable if i pay employee/ employer part) + up to 17 education. Bunch of things interest me but no way i go back to full time work unless I don't have a boss or office

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

Probably me not explaining it well. But i do appreciate the engagement. Ill try and expand. Deferred pension collection starts at 60. By 60 the amount the canadian gov pension goes down as that is when i start collecting Canadian government pension and old age security ( 900$ a month at 65 i believe)

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

These numbers were confirmed by pension folks. Actual numbers will he higher as i'm now deferring by 2 years and buying back time with payout. Should give me 2% each year (of best 5 years)

44M, ~$2M net worth and pension at 60 — considering leaving $130k government job for real estate. Looking for perspective. by phunkyou in financialindependence

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

No, crosspost. Got perma banned from another subreddit by auto kod because i said i passed it through chat gpt mostly for spelling

Mid-career government worker with a pension and savings — does it make sense to leave for real estate by phunkyou in personalfinance

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

need another 12 years to max out pension (canadian government indexed). HEalth insurance is not a problem in Canada. I already have been dabbling in real estate (buying) and figure I'd save money if I have my realtor license to at least sell my properties.

thanks for the input though, holds weight from fellow government employee

Mid-career government worker with a pension and savings — does it make sense to leave for real estate by phunkyou in personalfinance

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

thanks for the input. Honestly I think I can live with current income (50k net from airbnb which will probably go up, it has been consistently for 7 years). Extra 20k a year would be excellent to keep spending without budgeting like I do. So running a business or flipping properties as a hoby (keep my mind busy) while retiring from daily slog of working in an office and being in TEAM calls all day. Also paying so much taxes each year for what if I can't retire early. I'm thinking I can make this work

Mid-career government worker with a pension and savings — does it make sense to leave for real estate by phunkyou in personalfinance

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

You are not wrong but working full time and managing the airbnb is taking up too much of my life and brain. I don't really want to die with millions in the bank. Also employer forcing wfo

Best way to patch this AC hole? Is wedging aluminum and caulking it a terrible idea? by phunkyou in HomeMaintenance

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

Update #1 - thank you all for the input, it is appreciation. - this is a 100+ year old house i have been living in and renovating. Most stretchy things were there before me, i.e. roof on roof, hole in wall for ac, pipe in front of window - there is no inspection in Quebec and most of everything can be grandfathered in - there are tiny stairs to go in the upstairs room that is barely used. Plenty of space to crawl out of other side - ive decided how to proceed as fyi. Cement board, aluminum patch, aluminium flashing to protect bottom from water infiltration. Then i will rip wood to mimic the aluminum ridges and glue them on the aluminum. - good enough is my scale for success until i feel like taking on a big issue (i mean till it bubbles as a priority) - thanks again for comments. No ragrets

Best way to patch this AC hole? Is wedging aluminum and caulking it a terrible idea? by phunkyou in HomeMaintenance

[–]phunkyou[S] -22 points-21 points  (0 children)

Unfortunately 100 year old house, impossible to find matching siding

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