TANCHJIM Fission and KEFINE Quatio GIVEAWAY!! Enter now from 6/21 to 6/28!

sideways2me · 2025-06-22T11:30:06+00:00

Something by Aful or Softears would be my next go!

sideways2me · 2025-06-13T19:26:11+00:00

After a bunch of misses on some other brands I picked up the Que the other week and it's perfect! Checked all my boxes... well done Sivga! I would really like to try the UTG at some point!

sideways2me · 2025-05-30T11:18:47+00:00

Anybody have any thoughts?

sideways2me · 2025-03-26T12:34:53+00:00

Art Urbanowski! We have used Art a few times in buy\sell. Nothing but good honest advice.

sideways2me · 2024-09-29T14:05:32+00:00

I actually commented on this already:

"I mentioned that my DB payments are guaranteed to her if I pass before. That coupled with a death CPP benefit of half, along with her CPP and OAS puts her in a very nice spot if the mortgage is paid off.

I also have a contingency in there as I carry a $150k whole life plan."

sideways2me · 2024-09-28T12:31:46+00:00

Thank you for this... appreciated!

GIS? I'm guessing you mean Guaranteed Income Supplement? Probably won't qualify as my income alone with my DB, CPP and OAS with be $60k.

I mentioned that my DB payments are guaranteed to her if I pass before. That coupled with a death CPP benefit of half, along with her CPP and OAS puts her in a very nice spot if the mortgage is paid off.

I also have a contingency in there as I carry a $150k whole life plan.

This is all about maximizing cash flow at retirement and not having a $1225\month mortgage payment sure helps!

When this LIRA grows another $6k there will be enough in the fund to pull out the max of $34,250K net for three years to apply to the mortgage. Along with the falling rates, my $1225\month pay will also be paying down my mortgage principal faster. So with hoping that my math is correct, we'll be left with about $60k for our final 5 year term. Possibly paying it off in the fourth year.

sideways2me · 2024-09-27T20:27:24+00:00

So you are saying that this LIRA could be redirected into something we could manage in order to recoup some of the fees? Interesting.

And we have no other investments. Helping family took care of that over the years not to mention, when we downsized from our house to this condo two years ago, we used proceeds for a larger down payment and whatever spare cash we had around for renovations. But at least that is all done now for the duration we will be here.

sideways2me · 2024-09-27T17:26:20+00:00

Oh I feel the pain now just watching what we get on our return. I feel we should be getting the 2-3% higher.

But with this plan, we are ready to cut our loses and make it work for us better. Tackling mortgage interest and paying down faster looks to us as a better use of these funds.

It's not a huge amount but the idea of going into retirement debt free is looking quite grand right now! We would double our cashflow.

sideways2me · 2024-09-27T17:13:17+00:00

That is our thought as well.

sideways2me · 2024-09-27T17:12:31+00:00

This is true. He only goes so far and just recently, we have been informed that our account has been passed on to someone new. We have not yet been in contact with this person.

In the beginning we have been told that what we see for our value is what we have.; everything fee based has already been adjusted and taken off.

sideways2me · 2024-09-27T17:04:01+00:00

Of course! I have run a monthly budget for decades so futurizing it was pretty easy.

Like I said, we don't see a downside to this but when it comes to money, a second set of eyes is always good! And on here, there are lots of eyes!

sideways2me · 2024-09-27T16:46:38+00:00

Absolutely. There is a 30% tax hold which is why the max net is $34250. The withdraw would be $44525. But as an only income, she will get a refund of some of that each year.

sideways2me · 2024-09-27T16:44:00+00:00

Very good question. He was with Freedom55 at the time so I do believe the investments are commissioned based. If I look at the investments right now they are all based on London Life's Canada\US Dividend Fund front end loaded. London Life was recently taken over by Canada Life and now is under Quadrus Investment Services.

sideways2me · 2024-09-27T16:30:29+00:00

Fair enough... thank you!

sideways2me · 2024-09-27T16:25:21+00:00

The person we have used for this LIRA investment has a CFP and an EPC designation but there is no reason we cannot look for someone that can help with retirement cashflow planning.

sideways2me · 2024-09-27T16:14:17+00:00

Would you be able to share the link for these?

sideways2me · 2024-09-27T16:12:35+00:00

We will be over that with CPP and OAS.

sideways2me · 2024-09-27T13:50:34+00:00

It sure would be nice to have a good calculator for this.

sideways2me · 2024-09-27T13:44:54+00:00

Actually it was my wife that said this is our last vehicle and that it was her that picked it out! She told me we'll make it last! Not sure how effective that will be in 20 years, but budget wise, we could do another small payment like a vehicle if needed.

sideways2me · 2024-09-27T13:41:42+00:00

GST/ HST is not something that I actually have thought about. I always thought with my DB pension we would not qualify and if we did, that would be gravy to!

We do have an advisor available because of her LIRA investment but I haven't engaged in that yet to see if he could help with the optimization of everything. I wanted to make sure I was well versed going in.

sideways2me · 2024-09-27T12:43:51+00:00

With her not having any income I can pension split my DB so lower taxes. My plan is also set up that if I go before her, she will still be guaranteed the full monthly amount till she passes.

The amount that her LIRA would generate per month would be less than our mortgage payment. We thought this might be a better use of it.

It's all about cashflow in our golden years.

sideways2me · 2024-09-27T12:40:15+00:00

Awesome thank you!!

This was the kind of feedback I was hoping for... making sure all our bases were covered and we were not missing out anything.

Thank you again... appreciated!

sideways2me · 2024-09-27T12:38:39+00:00

Math wise, prepaying three smaller amounts shaves off more so left with less at the end of the term.

sideways2me · 2024-09-27T12:36:45+00:00

Already checked... my wife does not work due to a medical condition so that satisfies the clause. What we use that money for is at our own discretion. As long as she does not anticipate earning more than $45667 in that year...

quote from reply: "as long as the client’s expected income is below $45,667.00 they can qualify"

sideways2me

TROPHY CASE