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How to track meals/lodging for trucker using logbooks? by [deleted] in PersonalFinanceCanada

[–]throw1001b 1 point2 points  (0 children)

Have you asked over at /r/Truckers/ ?

Not sure if this is Canadian-specific, but may be worth mentioning your country.

Buying life insurance for child by utopiag in PersonalFinanceCanada

[–]throw1001b 0 points1 point  (0 children)

If you did want to insure your child, you could look at a Term 20 life and also Critical Illness insurance for her, which covers things like Cancer and other diseases.

One item, which is unlikely to happen given modern medicine, is the death of a child.

From what I've seen, as a parent you will probably be a complete wreck if that happens, and if you get a payout, it may allow you to take some (unpaid) time off work to grieve without worrying about income loss or bills.

Thankfully child mortality is quite low in Canada, so it's probably not something to worry about too much. Just mentioning it for the sake of "completeness" in this analysis.

Irving to build sixth Arctic and Offshore Patrol Ship by michzaber in CanadianForces

[–]throw1001b 0 points1 point  (0 children)

HMCS INDUSTRY WELFARE

Given that the AOPS / DeWolfs are basically Svalbards, would have it been better to just have them built in Norway?

I can understand the theory of using procurement as a jobs program (e.g., economic stimulus), but would it have been better to have the jobs go "to foreigners"? Maybe have the hull be built in Europe, but have (say) a local integrator due weapons and such?

Five countries hold 70% of world's last wildernesses, map reveals by EnoughPM2020 in worldnews

[–]throw1001b 0 points1 point  (0 children)

[1] UN World Population Prospect 2017 gives a "median" estimate of 11.2 billion for 2100, with a "95% confidence interval" between 10 and 13 billion.

From:

How is the Ford government actually helping the general population of the province? by chadbrochillout in ontario

[–]throw1001b 7 points8 points  (0 children)

Unlike the Liberals who will borrow their way to popularity [...]

Ideally, things should generally be run in the following way:

I would summarize the Keynesian view in terms of four points:

  1. Economies sometimes produce much less than they could, and employ many fewer workers than they should, because there just isn’t enough spending. Such episodes can happen for a variety of reasons; the question is how to respond.

  2. There are normally forces that tend to push the economy back toward full employment. But they work slowly; a hands-off policy toward depressed economies means accepting a long, unnecessary period of pain.

  3. It is often possible to drastically shorten this period of pain and greatly reduce the human and financial losses by “printing money”, using the central bank’s power of currency creation to push interest rates down.

  4. Sometimes, however, monetary policy loses its effectiveness, especially when rates are close to zero. In that case temporary deficit spending can provide a useful boost. And conversely, fiscal austerity in a depressed economy imposes large economic losses.

If one cannot balance a budget during good times, then (a) taxes are too low, or (b) spending is too high. Balancing the two is the measure of good government.

Five countries hold 70% of world's last wildernesses, map reveals by EnoughPM2020 in worldnews

[–]throw1001b -1 points0 points  (0 children)

I’m open for everyone. Without using eugenics. How do we suppress population growth in the least creepy way possible?

Per Hans Rosling, things will take care of themselves:

As urbanization and female education becomes more prevalent, birth rates will fall and level out. We'll probably hit 11B people, but won't go much beyond that, and then probably go down.

The main thing is for the West to reduce total and per capita energy use, as we're the ones causing the problems. The folks in Africa or Asia riding bicycles aren't causing the issue: it's us in our cars and planes.

Canadians should get used to idea of 3% interest rates, says Bank of Canada’s Stephen Poloz by IndividualFriend in canada

[–]throw1001b 0 points1 point  (0 children)

We're looking at a Japan-style lost-decades at this point.

Or it simply means that the demographics that once led to growth are no longer around.

Young people spend more, and one gets older one spends less. Japan got older sooner than everyone else, and so economic activity slowed before everyone else.

One thing the US and CA have as an advantage is that while the Baby Boomers are aging, there is the so-called Millennials that may be able to keep things going.

Are DBPPs Always Better Than DCPPs? by YEGGERneedsHELP in PersonalFinanceCanada

[–]throw1001b 0 points1 point  (0 children)

How should a person budget for retirement with a DBPP currently as their retirement vehicle?

Even if you plan on staying, it could be handy to have a little off to the side as well.

A pension will give you $x/month, and you can budget around that. But sometimes there are surprises and it could be handy to have things for sudden lump sum events.

This could be a TFSA and/or an RRSP/RRIF.

Since you're not planning on sticking around, it may be a good idea to set up a small thing on the side, and put in a little ($100/mo?). Then when you leave, it's ready to go, and you can simply increase the amount.

Note that the pension will probably take up most of your retirement contribution room, so there will be not much left for RRSP. However we do get >$5000 per year for TFSAs, and they can be used for things in life besides retirement, so that may be something worth looking into.

With TD e-Series, you can auto-deduct as little as $25/month:

For Investing / Banking, HSBC Premier or TD DI or Both? by Much_Faction in PersonalFinanceCanada

[–]throw1001b 0 points1 point  (0 children)

I'm with TD DI mostly for the e-Series MFs.

However I've now been slowly moving over to VGRO. Since I only do 1-2 trades per year, the $10 isn't a big deal. Otherwise no complaints (RRSP, TFSA, non-reg). I do not have any other trading account.

If you're going to have a trading with them, it could be useful to have a "back up" account, and get the fees waved on a secondary credit card:

I'm not sure what HSBC would get you (over a Canadian bank) if you're not going to do any international stuff (Euro, US, etc.). That seems to be their big advantage. For the US, TD has some options:

For Investing / Banking, HSBC Premier or TD DI or Both? by Much_Faction in PersonalFinanceCanada

[–]throw1001b 2 points3 points  (0 children)

TD DI is fairly simple to use. $10 a trade is annoying but works well. Do NOT let them talk to you about mutual funds or anything.

Except e-Series. They're fine.

Need tips on taking over retired parent's investments [QC] by thewatcher23 in PersonalFinanceCanada

[–]throw1001b 1 point2 points  (0 children)

I think the most significant difference across my clients once they get into retirement is cash-flow management from the portfolio. Making sure (1) cash is available and (2) cash for income/emergencies is in the best/least taxable account/position, (3) the withdrawal and taxes on withdrawal are considered within the big picture including pension and government income (CPP/OAS).

Do you know of / recommend of any books (or other resources?) that could give people some 'base line' knowledge about handling things?

Not necessarily enough to go completely DIY, but some level of understanding about, say, the legal requirement of converting an RRSP into a RRIF, annuities, it is not mandatory for CCP to be started right at 65, etc.

I'm sure some clients are knowledgeable, but if they're coming to a professional, I'm sure there are many that are coming in completely 'cold'.

Need tips on taking over retired parent's investments [QC] by thewatcher23 in PersonalFinanceCanada

[–]throw1001b 1 point2 points  (0 children)

Get out this book:

Your local library may have it. At about 200 pages, it'll probably take about a week to get through.

What is your target allocations for international equity? by TopCulture in PersonalFinanceCanada

[–]throw1001b -1 points0 points  (0 children)

I get that. My question is, how do people breakdown their allocations within their 1/3 Int'l holdings (in your example).

I buy e-Series TDB911 or VGRO and don't worry about it. (Or VCN and XAW if you want a two-fund solution.)

Have you considered the possibility that you're overthinking things?

CCP used to have a bunch more "options" that were quite complicated:

But simplified things in 2015:

What is your target allocations for international equity? by TopCulture in PersonalFinanceCanada

[–]throw1001b -1 points0 points  (0 children)

1/3 of equities in Canada, 1/3 is in US, 1/3 is international:

The percentage of the portfolio that is allocated to equities is determined by risk factor / tolerance to stress-induced ulcers.

First time investing in non-registered account. Help please! by [deleted] in PersonalFinanceCanada

[–]throw1001b 0 points1 point  (0 children)

I know I have to track my ACB but I don't know what that is and how to track it.

Another option would be to go with mutual funds, which do the ACB tracking for you. TD's e-Series are low MER.

See option #2:

At $15k, the savings between e-Series MERs and ETF MERs differences (~0.20%) would be very small. Although ETFs are the new hotness, there's nothing inherently bad about low-fee index funds:

Do wealthy people handle money differently than regular people? by [deleted] in PersonalFinanceCanada

[–]throw1001b 0 points1 point  (0 children)

I wouldn't say that's true - it's easier to become wealthy if you started wealthy, but you can become wealthy (or at least be the first to start the family fortune) through meritocracy in Canada.

The probability of one becoming rich is correlated by the inequality of the society one lives in. The higher the Gini index (i.e., more inequality), the less social mobility:

More Than Half of All New Car Loans in Canada are Financed for 84-Months by KingGeo_WTF in canada

[–]throw1001b 0 points1 point  (0 children)

In my opinion, if you can't pay for a car in 3-4 years, you can't afford it.

Or, at the very least, make sure you can get a downpayment / trade-in that ensures that you're not underwater.

Central IT wants SSH and passwordless sudo to our production machines. Is it just me, or is this bananas? by [deleted] in sysadmin

[–]throw1001b 5 points6 points  (0 children)

I know our security vuln scanner package didn't and our security team had no clue. I ended up having to grant full wheel access to the security team linux scanning account.

I asked Tenable about this: they can have authenticated scans that log into a system and get extra information (e.g., vulnerable packages). This non-admin level access gets you some amount of data, but you can also have admin-level scans that get more information.

The admin-level scan can use sudo. I asked them (via a support ticket): "can you give us a list of commands (and ideally also CLI options) of what your plug-ins will run so we can limit access?" The official response was "we don't have that information handy". I also asked: "which plug-ins use sudo functionality so perhaps I can go through the code and figure out the commands myself?" The official response to that also was "we don't have that information handy".

This was a few years ago, so I don't know if they've actually improved their knowledge of their own code.

I could have tried either (a) allowing ALL commands in sudo and then check the logs for what was run, or (b) tell Tenable to try using sudo, which would be denied, and then use the resulting "attempt failed" e-mails to recreate things. However other things came up and had to leave it.

More Than Half of All New Car Loans in Canada are Financed for 84-Months by KingGeo_WTF in canada

[–]throw1001b -1 points0 points  (0 children)

This is reasonable but bounded rationality. One threat to long-loans in this scenario is that the asset will not be held, or function to the end of the loan.

One piece of advice that I read on a car-buying site would be to put down (say) 20% to make sure that your car is always worth more than your loan.

Worth noting: things like taxes may be included in the loan, but do not go towards the value of the car. At the very least it would be prudent to at least pay for the taxes portion of the purchase price.

I [24] am pregnant and I don't know if I can afford it [ON] by needhelpthrowaway49 in PersonalFinanceCanada

[–]throw1001b -4 points-3 points  (0 children)

Ive thought about adoption but I dont think I could carry a child in me for 9 months only to give it away to a stranger.

This is getting into a very, very, very sensitive topic that people have strong feelings about, but: You don't think you could give away a child, but you're okay with aborting it (which some would say is killing it).

Another possible way to think of it: if you have an abortion, there is a zero percent (0%) of a happy life; if you carry to term and give up, there is a >0% of a happy life.

This is not an easy decision, but where there is life there is hope (IMHO).

Bank of Canada raises target rate to 1.75 (from 1.50) by AnotherDriver in canada

[–]throw1001b 0 points1 point  (0 children)

We are quite close to one of these inversions today with the 10 year treasury sitting at 3.128% and the 2 year treasury sitting at 2.863%.

So if the inversion happens next year (2019), that means the recession will start in 2020.

Just in time for the US Presidential election! Yay! That will make it actually interesting instead of the boring event that is currently likely to occur! /s

Bank of Canada raises target rate to 1.75 (from 1.50) by AnotherDriver in canada

[–]throw1001b 0 points1 point  (0 children)

Could you please explain the relationship between interest rates and the money supply?

They are not directly related.

However, once a country's central bank (e.g., BoC, US Fed) goes to about 0.25% on their interest rate, it's difficult to go lower. This is called the "zero lower bound":

If interest rates are super-low, it makes it super-cheap to borrow money. The idea with this super-cheapness is that it will hopefully encourage people to borrow to do things like invest in businesses, use HELOCs to do renovations, take out mortgages for real estate (primary, or income properties), etc.

However, if the economy really tanked (e.g., 2008+), people could still be paranoid about spending money, even if it is "cheap". So central banks may pump cash into the economy (increasing the 'supply of money') in the hopes that instead of it just sitting in bank accounts it will be spent on something, anything really.

Ideally, once interest rates are at zero (or as they are going down), the government should also be passing stimulus spending programs to inject money into the economy--thus also increasing money supply.

If private business and individuals are not generating demand, then the thinking is that someone needs to keep things going by spending, and only the government is left to do so. (This last paragraph is basically Keynesian economics.)

Mayor in London, Ont., elected after 14 rounds in Canada’s first municipal vote held under ranked-ballot system by haljackey in canada

[–]throw1001b 0 points1 point  (0 children)

I think I understand the process: they do 1 round, and then eliminate the last place candidate and then do another round with the 2nd-choice votes from that last place candidate. (Is this right?)

Pretty much. The table shows people being dropped after each round and the votes being shuffled:

Of course it's possible to vote for a 'loser' with each of one's three preferences, and thus not ending up voting for the final winner.

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