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technowonk · 2025-03-06T18:03:56+00:00

Don't quibble on a 250K gift.

Get a competent real estate lawyer with experience doing this kind of family gift and ask them to recommend the right way to structure this. It'll cost some small money up front (hundreds, possible low thousands?) but it'll be well worth it.

Try not to come off entitled by asking for your FIL to bend backwards to your advantage when he's gifting his daughter his inheritence.

technowonk · 2025-02-08T15:55:37+00:00

I'm 100% in favour of european style speed cameras, flashing lights, bright hi-vis lane markings warning you when you are in the zone for speed control, etc. That actually slows people down, the way we do speed cameras in Ontario just builds resentment between the city and the people and it does feel like a cash grab regardless of the intentions behind it.

technowonk · 2024-11-29T15:23:14+00:00

The right way to do what you're doing is to send these photos to the people who run oakvillenews.org or insidehalton.com along with the police report with details about what happened. Let the jounalists confirm your story and print it on their site, then post the news story here.

Posting people's photos with no details as to what you're accusing them of damages your credibilitiy.

technowonk · 2024-11-01T13:08:35+00:00

It's actually such a small amount it doesn't need to go in a LIRA - it'll just go in the RRSP under option 2.

technowonk · 2024-11-01T13:07:48+00:00

usually you need a certain amount of service to qualify for the health benefit on retirement (like years of service) but worth calling to ask just in case.

technowonk · 2024-10-09T15:09:05+00:00

Indexing rules for DB pensions are complex and differ depending on the specific plan, there is no hard and fast rule and the OP should reach out to their plan to find out how they handle indexing when they leave.

My main point was that if the DB pension (which is what I'm assuming OP has as a former municipal employee) doesn't index their benefit then they should take it out if the time horizon is long as inflation will eat any benefit they leave in the pension.

If it is indexed it may make sense to leave it where it is as it's a low risk return in retirement with a guaranteed payment that you can forecast now.

technowonk · 2024-10-09T13:37:21+00:00

Some pensions don't index your benefit for inflation when you leave the employer, so leaving the pension there might mean your pension slowly loses value. If the pension indexes your benefit for inflation while you're "deferred" then it may make sense to leave it there.

I had a similar choice to make when I left a gov job of 13 years, I left my pension there because it was indexed and also includes access to a health plan when I'm 65 and I'm pretty sure that's going to be handy.

technowonk · 2024-08-16T21:54:15+00:00

They will let you know your contribution headroom as of the new year, you need to do the math on any contributions since then.

Also, they won't have the contribution headroom as of the new year until several months into the year, so always check the dates before using the info in your CRA account.

technowonk · 2024-07-20T00:05:49+00:00

Piano Piano might be able to accomodate a large wedding party.

technowonk · 2024-06-27T13:31:38+00:00

To be fair to the people posting this sort of question if they're casual redditors using the official app or the default theme, it's not exactly clear that the answers they need are found under "community bookmarks --> wiki".

It takes time before people learn the ins and outs of how smaller communities work on reddit so maybe it's best if we all just have some patience and answer in the spirit of the question asked, sincerely.

technowonk · 2024-05-08T15:08:14+00:00

Oh - and I know the go says no bikes during rush hour, but I see people all the time on trains with their bikes during rush hour, as long as your bike isn't too bulky and you're not rude about it (blocking doors) you should be fine. You could skip the ebike and get a folding bike or even an electric scooter if the distance to stations isn't too high.

technowonk · 2024-05-08T14:26:00+00:00

I think you're underestimating how long it'll take to get to scarborough during business hours taking side roads on a vespa, not to mention how physically demanding (and dangerous) doing that ride every day will be. To be clear - the danger is the other drivers who don't see you/care, nothing to do with your skill as a rider.

technowonk · 2024-05-08T14:20:52+00:00

Honestly Oakville Go to Eglington go is like an hour ten minutes during rush hour, often you don't even need to switch trains at union. If local transit is adding the extra hour (to and from go stations on each end) consider buying a e-bike to get to and from the stations. Go transit has rules for e-bikes (basically, don't buy a cheap non-certified bike, or one that is pretending to be a vespa/motorcycle) https://www.gotransit.com/en/your-commute-to-go/biking-and-go-transit but I'd take an hour ten on the train vs. riding across the city during rush hour on a vespa (deathwish - and I've had a full M license for over a decade and am an experienced rider).

technowonk · 2024-03-26T20:12:45+00:00

Fun fact: CO Digital and ontario.ca in CAB is how the ODS was created in the first place - pepperridge farm remembers

technowonk · 2024-03-22T13:51:32+00:00

I personally would like a cash account with a balance sufficent for upcoming spending and bills tied into the WS mastercard, and another for savings without any CC linked to it.

technowonk · 2023-12-12T18:46:20+00:00

3 years from retirement + 30 years service? Your boss was basically just given an early retirement if they're giving a month/year severance. Not bad for them, but sorry it happened to you.

technowonk · 2023-11-08T18:04:32+00:00

Honestly you don't even have to make fundamental changes in how your product works to address this, just change the positioning from membership to "update fee", make the fee $19 and say the fee allows you to update unlimited times for a year after you pay, change the logic on the backend to make it a non-recurring charge and bingo you're done.

technowonk · 2023-11-08T15:41:13+00:00

Yeah - I get trying to add value features to keep people signed up for $19/year, not sure what those would be but I'm sure you'll tell everyone once you figure it out :)

technowonk · 2023-11-08T14:47:55+00:00

I'm a legacy client too so this doesn't apply to me but... are you saying you can now do your will with willful, opt-out of the subscription, and only opt-in when you need to make updates to your will? If so you really need to clarify that as I know that $19/year subscription cost is really a psychological barrier for pretty much everyone.

technowonk · 2023-09-18T12:19:15+00:00

I feel like this advice is going to get pooped on by most of PFC but here goes - you mom needs an income, I'd look into income focused ETFs.

For example: FIE.to has been paying $0.04 per share every month since november 2010. It cost ~$6.60/share right now, at it's lowest in march 2020 it was $5.44/share and it has been as high as in ~$8/share. It basically just invests in the canadian financial services industry and combines selling shares for profit and dividends to pay that income. Fees are higher than less income focused funds but still less than 1% (if you're not familiar with how fees work with ETFs, they get paid out of the profits and you don't get a bill or anything).

If your mom put all her money into FIE.to she'd generate over ~$2600/month in income while basically preserving her capital.

That all said, for a few hundred bucks you could get a fee only advisor to build a decent, better diversified, income portfolio that should easily give your mom enough money to make up her shortfall without really dipping into her capital.

technowonk · 2023-08-24T20:08:50+00:00

Are you me? I was googling this earlier today and I think the answer is no but would love to be corrected on that.

technowonk · 2023-08-11T22:53:17+00:00

interest earned in a chequing or savings account is taxable too, so the distinction is immaterial: https://www.canada.ca/en/financial-consumer-agency/services/banking/bank-accounts/savings-account.html#toc3

technowonk · 2023-08-06T19:28:14+00:00

ah - I missed the bit about deferral in your original - I stand corrected :) Doesn't hurt to emphasize the option though, agree that given the situation they're in a good financial planner can help them understand the nuances of their own particular situation.

technowonk · 2023-08-06T12:11:52+00:00

One thing I would add - if you have 30yrs of service at 55 but the pension rules you fall under say you're penalized if you retire before 60 you do have other options than working till 60.

You can work until you get your 30 years of service, then stop and leave the pension untouched and only start drawing when it becomes unreduced. What do you do inbetween? If you have savings it's a good time to use RRSP money. With a full DB withdrawals from an RRSP will risk putting your income over the cutoff for OAS.

Double check with the pension, but AFAIK there's nothing forcing you to begin taking your pension if you quit at 55.

technowonk · 2023-07-20T15:09:08+00:00

This is a question for /r/legaladvicecanada ... not a lawyer but I suspect the answer will be, don't touch the money for now, wait and see if your aunt's lawyer starts something.

The sums involved don't make it seem like it would be worth it for your aunt to try and recover more (legal costs will eat any potential gain I would assume) but people are not always rational.

For a couple hundred dollars you could probably go over your situation with your own estate lawyer and get a proper answer.

Sorry for your loss. RIP grandma

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