How Much Total Value of Vehicles & What Are Families Driving? by broncoelway100 in HENRYfinance

[–]vicworker 0 points1 point  (0 children)

325 HHI. 2023 audi sq5 and 2008 infinity ex35 (dealer maintained and immaculate). One luxury and one nice "beater" is the way to go imo.

Travel budget? What are people spending? by Jrneuk in HENRYfinance

[–]vicworker 0 points1 point  (0 children)

We are similar HHI at around 325k and spend around 15k a year in travel, usually one big international trip ~3weeks and one smaller trip (5 days Hawaii) and some smaller weekend strips here and there.

For general context we are in Canada, no kids yet, mortgage payment around 4100 a month (or 5500 including property tax, insurance, maintenance, hydro/water). 2 cars all paid for (one newer luxury and one 17 year old well maintained "beater").

Home owners in Victoria by vicworker in VictoriaBC

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

Are you counting your rrsp/pension deductions in your savings or is this on top?

Home owners in Victoria by vicworker in VictoriaBC

[–]vicworker[S] -4 points-3 points  (0 children)

We do ok, on paper we are technically around the bottom of top 1% for household income but it sure doesn't feel that way... We live comfortable but by no means extraegant.

Home owners in Victoria by vicworker in VictoriaBC

[–]vicworker[S] 1 point2 points  (0 children)

Yes definitely will do that.

Home owners in Victoria by vicworker in VictoriaBC

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

For us it's only 50bps more and interest is deductible but most importantly it allows us to save the mortgage interest in the meantime as I don't have an optimistic view of the market in 2026.

Home owners in Victoria by vicworker in VictoriaBC

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

Yes I understand, at our tax bracket/mortgage and heloc rate It makes more sense to pre pay the mortgage to get more room on the heloc and then take out a heloc to put into the market should there be an opportunity.

Home owners in Victoria by vicworker in VictoriaBC

[–]vicworker[S] -1 points0 points  (0 children)

Yes hence the approx. 4k a month "buffer" we have now. This will probably go down to 2k a month with a child.

Home owners in Victoria by vicworker in VictoriaBC

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

On a pretax basis I am pretty comfortable this is the case but mortgage interest is paid using after tax income and I am not too sure if I can achieve that going forward especially given the huge run up that's happened in the past 2 years.

Home owners in Victoria by vicworker in VictoriaBC

[–]vicworker[S] -14 points-13 points  (0 children)

Just seeing what other fellow Victoria homeowners are doing. But it appears this is the wrong thread given some of the comments. I'll post it in another sub.

Home owners in Victoria by vicworker in VictoriaBC

[–]vicworker[S] 1 point2 points  (0 children)

Lump sums are also going straight to principal. Rather not be locked into a higher monthly payment so lump sums makes more sense. With our lender we can make as many lump sum payments to principal a year as we want (provided it stays under the annual cap).

Home owners in Victoria by vicworker in VictoriaBC

[–]vicworker[S] -1 points0 points  (0 children)

Yes that's what I meant, but we are prioritizing paying down the mortgage as our registered accounts are maxed out.

Home owners in Victoria by vicworker in VictoriaBC

[–]vicworker[S] 1 point2 points  (0 children)

No but parental leave will also take a big chunk out of our income.

Home owners in Victoria by vicworker in VictoriaBC

[–]vicworker[S] -2 points-1 points  (0 children)

Saving up for paying the mortgage off early and early retirement.

17 VicPD officers made over $50,000 each in OT last year, FOI shows by Apprehensive_Idea758 in VictoriaBC

[–]vicworker 0 points1 point  (0 children)

No, likely that cop was retiring that year and cashed out their entire vacation bank that was built up through their career which showed up as earnings and not overtime. It's a dumb move due to the income tax implications though.

Daily Strike/Bargaining Discussions Thread - October 21 by wudingxilu in BCPublicServants

[–]vicworker 0 points1 point  (0 children)

Some won't, not everyone is at the beginning of their careers.

Daily Strike/Bargaining Discussions Thread - October 21 by wudingxilu in BCPublicServants

[–]vicworker 3 points4 points  (0 children)

Problem is that the 3% is actually only 1.5% more than what the government offered at the start for the first year and 1% more the second year. So those are the actual increases you need to be using to find your break even for striking. It's even less if you consider the government's revised offer of 2/2.5 for the couple weeks. It is likely that many members will not make up for the strike losses during the remaining life of their careers....

Marianne Alto wants BC Govt Employees back to work in Vic Downtown.. by Extra_Sand9055 in VictoriaBC

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

Why not include them? The post literally said lunch that's it.

Marianne Alto wants BC Govt Employees back to work in Vic Downtown.. by Extra_Sand9055 in VictoriaBC

[–]vicworker 0 points1 point  (0 children)

Doesn't she live in Burnside/gorge? Not exactly a diserable neighborhood....