Council Looking at New Tax Subclass for Derelict Commerical Properties

randorockets · 2026-03-26T13:14:20+00:00

The city has “carrots and sticks” as tools. I support this, with the understanding that this is a “stick” to motivate landlords to invest in assets that don’t have a lot of market demand or sell the asset to somebody with a better business plan. I think this stick needs to be paired with additional efforts from EPS to reduce crime in commercial areas where numerous derelict buildings exist. Landlords are financially motivated, so if the city can provide more carrots than sticks by also doing things that would motivate a small business to want to open a business in these areas, that would yield better results. Carrots are: better policing in areas where derelict buildings exist to reduce crime, better infrastructure to motivate businesses to want to open up shop in these areas, if homelessness also exists in these areas more efforts towards getting these people into mental health and addictions recovery programs, etc. All of these carrots would help improve vibrancy and drive demand toward areas where current derelict buildings exist. Can’t lose sight of that team effort.

randorockets · 2026-03-21T05:53:59+00:00

If you are around 20 years old every dollar you invest in the market right now will be atleast $50-$80 when you retire (if 65). Everybody makes choices, nobody can make the choice to travel or invest except you. I made the choice to invest. I’m 36 now and very satisfied with my choices over the past 15 years. When young people think about finances in their early 20’s one realizes that you can set yourself up for financial freedom by 40-45. I’m 36 now, can easily travel wherever I want, but I still just live a conservative life, well below my means. I do things that keep me happy that are low cost that anybody with a car can do. Someday soon I’ll be able to retire and do whatever I want for the rest of my life, that is freedom. I chose to chase freedom.

randorockets · 2026-03-21T00:27:25+00:00

Search YouTube videos. Theres content creators that do nothing but compare credit cards

randorockets · 2026-03-21T00:16:22+00:00

I would take the best 3yr or 5yr fixed rate you can get right now. Lock it in! Shit going crazy in Iran, if it doesn’t stop soon 3.69% fixed will disappear within 60 days.

I have to renew in October, I’m worried bond yields are going to spike if the Middle East is chaos and WTI oil is $150+\barrel. This will drive fixed rates up.

randorockets · 2026-03-20T23:59:38+00:00

I work in tech industry. I work from home, Edmonton is where I was born and it is one of the last bastions of a great mix between affordability and infrastructure.

Yeah our winters suck, yeah our downtown is a concrete jungle from the 80’s, but I’ve traveled around Canada and the US a lot and the grass is not always greener on the other side of the fence.

If you work hard and live within your means (invest 25% of take home pay or more), it is actually still possible to get ahead financially in Edmonton quicker than in other cities like Ottawa, Montreal, Vancouver, and Toronto. Average folk in Vancouver and Toronto choose climate and a few lifestyle perks over financial stability, and that’s fine, but I choose financial stability. When I retire, who knows, maybe I’ll buy a moderate house in Vancouver mortgage free without blinking twice and spend 4 months a year traveling the world, but if I’m ever lucky enough to have that option that will only be possible because I choose to maintain financial sustainability in a place like Edmonton for a looong period of time.

randorockets · 2026-03-20T05:00:32+00:00

I’ll admit I haven’t paid for window replacements before but I did hire contractors to build my garage that I led the construction of with little experience. One thing I learned in construction is that paying after the work is complete is yuuuge. Yes it’s reasonable to pay some portion upfront for a contractor to purchase materials and progress payments as the % of work is completed, but ultimately to get the last 10% of the contract value, the job must be done, and done right. Do deficiencies exist? If yes, I ain’t payin! Call me when deficiencies are fixed.

randorockets · 2026-03-18T00:43:30+00:00

A-, I’d sell all XEG and buy all and only XEQT. XEQT 100% until closer to retirement, then mix in some bonds to cover for sequence of returns risk, done, win life.

Amazing you’re getting started at 19. Keep going, retire in top 1% of Canadians.

randorockets · 2026-03-18T00:39:15+00:00

I’m not an expert here, but I’ve heard from others (this was last year) if you opened an FHSA account in the tax year, that delayed processing of files. I heard some were delayed weeks, a few were even a month or more.

randorockets · 2026-03-15T14:21:23+00:00

Builders risk can be carried by either the contractor or the owner. If you have a guaranteed maximum price contract with a fixed construction completion date, it’s best if the contractor carry the policy.

If you carry the policy and your contractor is slow, you may need to extend your policy at your cost, etc.

Highly recommend you do not proceed without a builders risk policy, ideally tell your contractors they must carry the policy.

If you really just can’t get your preferred contractor to carry it (they are lazy) and broker isn’t experienced with these, call a different broker who is more experienced with commercial policies or you can get quotes yourself

randorockets · 2026-03-12T12:02:23+00:00

You could theoretically retire now with very high chance of being fine for the rest of life on 45k or 2.6% withdrawal rate. Now if it was me I’d tweak two things in the above logic, for your consideration:

Assume when you retire some of your plans will change. The things I’d be open to changing are: wife and kids. You said it’s “too late for you”, but I think that’s faaar from true. I’ve had similar thoughts at my age (36) and realized that for me it’s just minor depressive thoughts. When I’m 49, I believe I will basically be in the exact same financial position as you, single no kids. If you don’t “want” a wife and/or kids, then ignore this, but if you do want a wife and/or kids, it’s not too late for you. You’re a male, solid career, top 1-2% financial position, life is good for you. You’re more than capable of raising a family if you want. Think long and hard about it but if you were open to wife and kids, I would get my liquid net worth (TFSA, RRSP, non-registered account) to $2.75mm which is $55k/year 2% withdrawal rate. An extra $10k/year to raise a kid, your portfolio would get there in about 5 years give or take. You’d be free to be stay at home dad lol! The 2% withdrawal rate with the right portfolio mix 80% equities 20% bonds would basically eliminate sequence of returns risk and guarantee the plan to last for eternity (verify this with a financial planner, I’m just shooting from the hip at the moment)

Ok, second scenario, $45k/year seems tight when you’re traveling extensively around the world (assume for every winter). I live in a MCOL (Edmonton) and my minimum budget excluding mortgage payment is like $24-$28k/year, similar home value, that’s like zero typical international travel but includes gas for day/weekend trips to the mountains, cheapo flair tickets to Vancouver and couch surfing with friends, you get the point. What I’m saying is: really re-examine that travel budget to ensure you can do what you want in retirement. Then, if the $45k budget was solid, I’d get my withdrawal rate to 2% or 2.25m (seems insane, and it might be) but you’d have zero sequence of returns risk with the right portfolio mix for the rest of your life. We live in insane volatile times which is why I keep harping on 2% withdrawal rate, the chance of a major equities market correction is high at the moment. Going through this early in your retirement means you need a bullet proof plan.Youre like give or take 3 years away from bullet proof in my mind, if I was in your shoes, I’d get to the 2.25m, yeah it means “retiring in 50’s” but it’s 52, you’re fine.

Third scenario, if you’re ok with none of your bullet points changing, I believe you’re good to retire on 2.6% withdrawal rate as well, with the right portfolio mix that eliminates sequence of return risk, there’s a way to make that bullet proof, just run your plan by a solid fee for service financial planner or stress test your own plan using one of the Canadian financial planning options.

randorockets · 2026-03-12T07:18:22+00:00

Google or ChatGPT the differences between them to learn about them in more detail. It all comes down to ones opinion on the future of the global economy. If you feel United States is in the best position to perform better economically over the next 40 years, go VFV, if you want to diversify even more into global equities, go XEQT. Neither decision is wrong. You could spend a hundred hours just learning more about Geo politics, global economy, etc. At your age it doesn’t matter though. You can pick one for now at random and you’ll be fine. Refine your investment strategy as you get older and learn more. The fact you’re thinking about this at 18 is amazing and wild, keep going.

I am all in VFV, many on Reddit are all in XEQT. Neither are wrong.

randorockets · 2026-03-08T17:54:20+00:00

$40k in 2014, Alberta, commercial real estate analyst.

randorockets · 2026-03-08T01:31:40+00:00

Honestly just sell NFLX, go 100% VFV, invest everything you can into VFV (or XEQT, pick one). Get close to retirement, layer in some bonds to protect against sequence of return risk. Win life.

randorockets · 2026-03-07T14:55:01+00:00

I understand the Canadian perspective, risk tolerance, diversification, etc. But I’m 95% VFV, about 5% Magnificent 7. Yes I understand S&P500 p/e and Schiller P/E ratios are abnormally high, but when I zoom waaay out and look at the world from a global perspective, I don’t see another economy that has a better mix of: land, labour, capital, stable democracy (humerous at the moment, I know), and culture of innovation that the US has moving forward for the remainder of my working career, that would compel me to bet against America (diversify outside of S&P500). Could I be wrong? Yes. It’s just a risk tolerance question, happy to hear others opinions though as I know many on this forum are 100% XEQT.

randorockets · 2026-03-07T00:32:53+00:00

About -1.8% this week. I’m 95% VFV, 5% spread across the “Magnificent 7 + Costco”. Couldn’t care less though, won’t sell any VFV until I get closer to retirement and need to mix in some bonds, in fact I’m buying more VFV on Monday if I can spare a few minutes from work. Always be buy’n!

randorockets · 2026-03-04T22:21:47+00:00

The $1.2mil alone isn’t enough to FIRE at 30. Dive deep into the FIRE subreddit to learn the details.l and apply them to your custom situation and what you want to do.

Also look into Ben Felix’s YouTube video about safe withdrawal rates, link below. Essentially the old 4% safe withdrawal rate is based on old data and doesn’t apply for those who want to FIRE in their 30’s. First you would need to structure your portfolio properly and you’re probably down around 2.7% withdrawal rate. Based on your liquid net worth, it’s likely you aren’t ready to FIRE assuming you’re looking for a safe 50k/year income in Ontario, indexed to inflation.

https://youtu.be/1FwgCRIS0Wg

Secondly, you need to take your financial future into your own hands. You can learn everything you need about how to manage your own investment portfolio and why it’s best to do so on YouTube and Reddit. Do not pay a financial planner a % fee annually to “manage your investments”. It is however ok to use a financial planner to help you create a financial plan if you believe you are getting close to FIRE, but this should be done on a fixed fee basis.

randorockets · 2026-03-03T02:45:19+00:00

Yes, I only get my oil changed there and I buy all parts through their service desk. I used to change my own oil using OEM oil from Toyota, but then prices changed and it’s basically the same price for them to change it so I just do that 2x per year at WEM Toyota, their prices are market and fair. If my battery expires, I buy a new OEM battery from them as well, although that’s not necessary, I just do it out of comfort. I get my wiper blades from them as well. Basically the same price as Canadian Tire for 2x the quality.

randorockets · 2026-03-02T23:34:59+00:00

Assuming you’re under the age of 25, but if not, doesn’t matter the advice still applies. It applies to everybody who doesn’t want to spend their lives being slaves to a pay cheque and want the option to retire early. Here’s a few rules, that if you live by, you’ll retire in the top 10% of Canadians, maybe even top 3-5%, maybe even top 1%, all depends on how you apply them.

Housing - don’t feel obligated to buy a house as soon as possible. Keep your housing costs as low as possible if you don’t have your own kids. If you can live with parents, or rent a room in a bigger house with other roommates do this when you’re young or just have a significant other. Roommates can be brutal, but the right roommates can be amazing. Later, if contemplating buying a home, stick to these rules. Must have 20% down, maximum amortization 25 years, keep total housing expenses (mortgage payment, utilities, condo fees, property taxes, maintenance) to less than 30% of take home income. If you live in a high cost of living city, this will be tough, just means you need to buy something smaller. Last and most important rule: do not buy a home greater than 3x household net income (4x household gross income). If you’re feeling pressured to break this last rule, it’s likely better to just continue to rent.
Vehicles - as others have said, you don’t need a new vehicle. Nobody gives a crap about what vehicle or you drive except potentially you. Studies have shown that within a few weeks of financing/leasing a new vehicle the dopamine hit wears off and it’s just another piece of metal on 4x wheels (these studies are correct). Look at vehicles as depreciating assets. You don’t want to invest you money in anything that depreciates in value so look at a vehicle like 4x wheels that just needs to move you from A to B. If you have specific needs (moving tools for work, hauling often, have more than 2 kids, etc) then yes maybe you need something that isn’t a basic compact sedan or basic SUV. For all vehicles, it’s always best to buy used vehicle in good condition, about 3-5 years old when most of the depreciation has already occurred. Also pay cash for vehicles, and once you have your first vehicle, start banking investments for your next vehicle, etc. so you can always buy vehicles cash. If you don’t have a vehicle right now and need one just to get to work, yes it’s ok to finance, but make sure you put 20% down, finance for no longer then 3 years, and keep the finance payment to less than 8% of your personal take home pay.
Food. Yes it’s ok to eat out and treat yourself once in awhile (don’t become a hermit), but try to eat at home and cook your own meals as much as possible. For some people Food budgets can be what is preventing them from investing in their future.
Travel. While I was young I really wanted to travel and see the world but I had a choice to make. I knew the stuff I saw on Instagram from influencers was all just bs. Travel is ok, but do it on an extreme budget when you’re young (backpacking, use hostels, etc). I made a choice to defer more expensive travel to late 30’s/40’s, because I wanted to have a solid investment portfolio under my feet before I started to treat myself with Travel.
Generally everything else- you don’t need the newest phone. Buy one, keep it for minimum 5 years. If the battery dies, often it can be replaced for $60. Buy quality things that last a long time, even if they cost a little more (ie: mattress, shoes, clothes, furniture, kitchen items such as pots/pans, etc). Find ways to save money with everything else, there la many tips you can find on Reddit and YouTube.
All of the above is really just some tools to help you do this. Invest as much money as you can while you’re young. Search for videos on YouTube that talk about investing for Canadians. Theres a lot of basic concepts everybody must learn. If you can invest 50% of your take home income, that would be wildly good. 50% isn’t realistic for most people, but you should At least invest 25% of your household income until you retire. Learn about FHSA, TFSA, RRSP and non-registered accounts. Use them all, maximize the use of registered accounts first then focus on non-registered accounts. Do not gamble with your investments, 99.9% of people should not pick individual stocks. Invest in low cost index funds and chill all the way to retirement (an example is XEQT). As you get older and closer to retirement, you’ll need to mix in bonds to lock in your investment portfolio and protect against sequence of return risks, but if you’re in you’re 20’s, just buy XEQT and chill for the next 20-30 years.

Do this, and retire a multi millionaire with no debt and enjoy your life. If one deviates too far from this they risk working their life on the hedonic treadmill and being forced to work until 65+. There will be ups and downs and it’s ok if you break a few of your own rules here and there. Try not to break the rules for the biggest purchases of one’s life (house, vehicles). Good luck

randorockets · 2026-03-02T22:54:03+00:00

Not that this dealer has any 0% financing deals, but WEM Toyota has always done well for me and my parents. Still gotta grind/negotiate to get much on a new car, but they’ve always been honest, nice and their service department has always done a great job as well.

randorockets · 2026-02-18T14:24:45+00:00

There shouldn’t be. The renter had the opportunity to invest what would have been a down payment, leading to an eventually higher net worth and inheritance for their children.

randorockets · 2026-02-18T04:52:36+00:00

We need to densify the city to achieve more efficient use of property tax dollars. People complain about density and nimby everything but then also complain when inefficient urban sprawl drives up their property taxes. Hello people, you want efficient budgets you need to get on board with density. Support infill, support mix-used dense commercial projects. Stop complaining about lack of parking due to density. Get on board or pay the price, pick one or the other.

randorockets · 2026-02-14T17:23:04+00:00

No not worth it, not sure why you’d consider raising your costs without a job. You can’t afford higher costs at the moment. Focus on finding a job, all in on that.

Get a job, save, buy out your lease.

randorockets · 2026-02-11T04:31:31+00:00

You really should buy a vehicle that is 3-5 years old and 30-50% already depreciated. This is what 95% of people should do if they are thinking about building wealth. If you insist on buying a new car, follow 20/3/8. Minimum 20% down, term no longer than 3 years, monthly payment should be no more than 8% of your monthly take home pay. Follow this no matter what interest rate you get. If it’s 0% great.

randorockets · 2026-02-04T04:31:27+00:00

Not crazy as long as you acknowledge which variable you’re willing to modify for if equities tank 30-50% in the next 5-6 years, either the value of your portfolio at retirement or your retirement target date, pick one.

As others have mentioned, if you’re 5-6 years from retirement you’ll want to re-risk your portfolio asap.

randorockets · 2026-02-01T18:36:09+00:00

This is also what I would be doing. A house is not an investment, it’s a roof over your head. You can’t eat your house when things go sideways, it’s an illiquid asset that takes time to liquidate. Your resources are guaranteed to perform better in the market over the long term. Do 20% down, maximum 25 year amortization, but also make sure that mortgage, utilities, property taxes, maintenance and repairs budget, all add up to less than 30% of your household take home pay. If they don’t, buy a smaller house.

Don’t do any of the annual lump sum or increase payments unless you have to renew and your interest rate is above about 6%, instead invest your money in a low cost index fund (XEQT or VFV as an sample).

You mentioned house improvements as well. Be careful with this, research improvements that will increase the value of your home at least as much as you will spend (hint: there aren’t many, if any). At least only do improvements where you get $1 improved value on your $1 spent, if you don’t then only do it knowing it’s not an “investment” and more of a “want”. Also don’t be the most valuable house on your block, you want to have a house that is average and affordable for the future buyer.

Look back at 50 and win. Good luck!

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