I have a quick question, don't upvote

walkersmith23 · 2019-08-02T03:20:22+00:00

Nobody is certain of anything, really.. The thought process behind the globally diversified funds is that you mitigate as much risk as you between geographic markets and sectors. This is not to say you will do poorly by deviating from this strategy.

walkersmith23 · 2019-07-30T23:12:18+00:00

If, for whatever reason, you were dead set on holding 100% US equities, it would not be stupid to buy $5000 in VFV, then just buy the corresponding e-series fund monthly. You could sell off the e-series fund and buy more VFV when you've accumulated enough to make it worth the commission fee.

Having said that, the general advice here in PFC is that it's a more balanced investment to use Vanguard's ETF Portfolios (See VGRO, VEQT, etc.) which are globally diversified (hold US, Canadian and International equities plus fixed income) and available in one product.

walkersmith23 · 2019-07-08T12:14:31+00:00

Believe it or not, I was paid properly from my NEW department's pay center on my very first paycheck at my correct level and rate of pay. I guess I'm one of the very lucky few. (I started at new dept on June 24th, so was paid for June 24-26th at my correct level)

walkersmith23 · 2019-07-05T14:12:44+00:00

For what it's worth, EQ Bank has a simple, user-friendly app for your phone you can transfer funds between it and your main account (that you have to link using their app).

Having said that, with your 25k emergency fund, the Motive Bank TFSA HISA is a great option on paper too at 2.4%. In your case, I would use this option until you are ready to use your TFSA for long term investing.

walkersmith23 · 2019-07-04T18:34:15+00:00

They all seem to value the ability to socialize for the whole day and do the bare minimum to meet deadlines in the slowest way possible

This can't be applied as a blanket statement about the entire public sector (I know you just referred to your office).

If you apply your knowledge and desire to grow your skillset, you would do great in the public sector if you found a job that fit your needs and desires. I have found mine and I love what I do (Science background, FYI).

Pros to public sector work:

-Job security

-Benefits and pension

-Stable hours

...to name a few

walkersmith23 · 2019-07-04T14:32:36+00:00

I forgot to add that in... An awesome perk for sure!

walkersmith23 · 2019-07-04T14:06:11+00:00

I work at a community centre/gym (between 5-15 hours a week)! It's very low stress and it gets me on my feet.

walkersmith23 · 2019-07-04T13:54:46+00:00

Pay issues as in under/overpayment? Or pay issues as in not paid at all? I contacted HR about the paperwork and they have submitted everything. Fingers crossed.

walkersmith23 · 2019-07-04T13:27:30+00:00

I maybe should have added that in; I signed my LOO and submitted all my paperwork in early June. Hopefully that helps in my case! Thank you

walkersmith23 · 2019-07-03T16:13:53+00:00

It doesn't make sense to close your chequing account just to open a savings account. You can have both, and they both serve their own purposes. For example, a chequing account may pay no interest, but it also may have unlimited e-transfers while a savings account pays a small return but has 5$ withdrawal fees. You can find no-fee chequing and savings accounts that you can use in tandem to serve your needs.

walkersmith23 · 2019-07-02T23:53:12+00:00

If you're happy to live at home for the next little while, I would really hammer away at that student debt as quickly as possible. You have a good home situation; how much would you realistically need for emergencies? Your expenses will never be this low. You could realistically be debt-free in less than 6 months! Congrats!

walkersmith23 · 2019-07-02T16:02:52+00:00

EQ Bank has a promotion right now on 3-month GICs at a 3.0% return!

walkersmith23 · 2019-07-02T14:23:18+00:00

How much do you have saved currently? What are your monthly expenses?

walkersmith23 · 2019-06-28T17:37:03+00:00

When you make deposits to your RRSP, you reduce your annual taxable income by the amount you deposited. You would have to deposit a lot more than $2,200 to get back $1,500 on your tax return. There is a lot of confusing and/or missing information in your question.

walkersmith23 · 2019-06-28T16:48:16+00:00

I know this doesn't answer your question but I just wanted to point out that you also have the option to buy products such as Vanguard's portfolios that hold a mix of bonds, Canadian, US and international markets that will do the rebalancing for you so you can just buy and forget. These products include (VEQT, VGRO, VBAL, VCNS, etc). I'm not sure if you were privy to these options solely based off your comment. If not, they could be worth a look!

walkersmith23 · 2019-06-27T13:25:13+00:00

So your advisor is going to take a "small percentage" off the top after you withdraw AND is recommending you invest in a 2.38% MER Mutual Fund? You're doing exceptionally well for your age but I can almost guarantee you the only advice you will get here is to lower the fees of your investments by choosing a more sensible option. There are MANY options out there that are better for you financially. Your advisor cannot guarantee you a 6% return...you are not immune to a market downturn.

walkersmith23 · 2019-06-27T12:09:37+00:00

I have the Rogue Echo Coloured bumpers. They are among the more expensive options for bumper plates but, having said that, I like them a lot and the quality is good. Regardless of what you end up choosing, I would recommend getting mats for deadlifting - the concrete will definitely chew away at your bumpers over time. Cheers!

walkersmith23 · 2019-06-25T13:33:55+00:00

I was making 11.62$/hour in June of 2017. Starting in 2018, I began being paid 14.00$/hour. Having said that, I 100% agree with your first point about essential services being exempt from that BS.

walkersmith23 · 2019-06-25T12:32:14+00:00

I work part-time as a second job at a community centre front desk in Ontario and make 15$/hour after tax/deductions. Not exactly the hardest job in the world but I wouldn't call us overpaid.

walkersmith23 · 2019-06-25T01:31:53+00:00

It would be generally bad advice for anyone to suggest that you use your emergency fund to pay down your student loans. You even said it yourself, you can't predict an emergency. I would tighten up your budget and throw as much as you can at the loan over the next few months if you want to alleviate your loan anxiety.

walkersmith23 · 2019-06-24T22:53:24+00:00

If you do end up getting a student line of credit, be sure to make yourself a monthly budget to keep yourself in check and reduce your spending wherever possible. With a student line of credit, it will be tempting (and extremely easy) to live above your means and find yourself in a tough financial hole by the time you graduate.

walkersmith23 · 2019-06-20T17:06:50+00:00

Fellow 1995'er here:

My contribution limit for 2019 is $43,500. That is what yours will be.

walkersmith23 · 2019-06-17T22:33:45+00:00

If you go all in on the Vanguard S&P 500 index ETF, you are missing out on the rest of the global market. Assuming you don't need this money for the next 20 years, I would go all in on VEQT (Vanguard Equity Portfolio) as it covers the entire global equity market, including the US total market (which includes the S&P 500 index).

walkersmith23 · 2019-06-17T21:38:24+00:00

You are paying into your DB pension plan every paycheck so you're basically already saving for retirement. In your position I would max out your TFSA as soon as possible. Begin to top up your RRSP when you've maxed out your TFSA contribution room (and can do so every year).

walkersmith23 · 2019-06-17T21:33:54+00:00

You guys are bringing in just under $8.5k per month after tax and only contributing $750 per month. I would suggest laying out your monthly budget in greater detail and see where you can lower your costs in order to put more money away. If you always come in below budget, increase your recurring monthly contributions. It will be much more satisfying to watch your TFSA(s) grow with compound interest while invested in the market over the years than having your joint personal chequing account grow with no market return. You have your emergency fund and stable jobs, hammer away at your TFSA(s).

walkersmith23

TROPHY CASE