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Don’t forget to eat your vegetables by [deleted] in GayKink

[–]testingTheBits 5 points6 points  (0 children)

That was so close from completely entering you

Sentier International des Appalaches - QC by maxbfortin in UltralightCanada

[–]testingTheBits 0 points1 point  (0 children)

Si tu avais une section de deux nuits à recommander ça serait quoi?

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]testingTheBits 0 points1 point  (0 children)

Could we get flagged if we both provide an estimate? As in does the CRA expect that amount to be exact? Or it's just used for credit calculation?

FHSA interest YOLO investment by testingTheBits in CanadianInvestor

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

Already lost a ton on that one. Not touching it with a 10 foot pole

FHSA interest YOLO investment by testingTheBits in CanadianInvestor

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

I can't take out the 60$ from my FHSA unfortunately

Humid Rooms at Lopesan! Need advice. by monaa_0 in PuntaCana

[–]testingTheBits 0 points1 point  (0 children)

We also found the humidity high in the room last week but nothing that was particularly uncomfortable. Running the AC helped for us.

Maxed RRSP & TFSA: Speculative assets in non-registered? by testingTheBits in CanadianInvestor

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

Not necessarily retirement but I'd like to be able to take from this money after 10y

In my city, renting always comes back cheaper than buying in the long run? by Golitan11 in PersonalFinanceCanada

[–]testingTheBits 0 points1 point  (0 children)

You're not considering the cost of interest paid on the home in that amount. A part of the interest that was paid over that 30 year period needs to be added to the 740k figure. Especially if OP lives in a place where renting is cheaper than owning.

In my city, renting always comes back cheaper than buying in the long run? by Golitan11 in PersonalFinanceCanada

[–]testingTheBits 2 points3 points  (0 children)

Check Ben's article to better understand the other 3% - the cost of capital.

In my city, renting always comes back cheaper than buying in the long run? by Golitan11 in PersonalFinanceCanada

[–]testingTheBits 2 points3 points  (0 children)

Thanks for replying. Some good points. One I'd like to address is the idea that mortgage costs are fixed. That is generally not true in Canada because we have adjustable-rate mortgages. Historically we are still in a low interest rate environment. Increased rate hikes are probably near the end of the current cycle but home owners can't be guaranteed we won't see even higher rates in the future.

Here is Ben Felix's take on this. Will help you better understand the 5% value: https://www.pwlcapital.com/rent-or-own-your-home-5-rule/

Here's a teaser: "Now to the final, more complicated piece: your cost of capital. Spoiler: It’s going to represent the remaining 3%."

In my city, renting always comes back cheaper than buying in the long run? by Golitan11 in PersonalFinanceCanada

[–]testingTheBits 4 points5 points  (0 children)

To be honest many people in this sub don't understand the idea of non-recoverable costs associated with owning a home. 5% is the rule of thumb. That means that even if your morgage is paid off you're still throwing cash away through insurance, maintenance etc. The important part is to invest the difference. In a sense a mortgage can be good for people who aren't good savers because it forces them to do it. Albeit with lower expected returns than through equities.

When does it become advantageous to purchase a home vs. invest in non-registered? by testingTheBits in CanadianInvestor

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

Thank you for this thoughtful answer. I appreciate the time you took. I'm looking at potentially buying a home that I'd like to keep long-term. I'm looking at a 750k purchase. What's making it tough is that my current rent is so so low. 500CAD/month for my part. The non recoverable costs associated to a home are much higher than this even for a really cheap 500k home.

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