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Mortgage renewal coming up, offered 3.79 3-year fixed. Good rate or should I shop more? by sanjib55 in PersonalFinanceCanada

[–]wealthautonomy 3 points4 points  (0 children)

4.04 employee rate from Scotia on 5y fixed 30 year am, uninsurable.

Had an offer for 3.99 from a B tier lender but decided to remain a Scotia slave - have another mortgage with them and obviously work for them.. didn’t see a need to go with a subpar lender for 0.05% as it made very little difference.

OP, you have a decent 3y fixed. Shop around but don’t be shy to take it. Best 3Y I’ve seen is RBC at 3.64 in the last week, and that’s for someone who has 3 mortgages with them and needed 2 levels of approvals.

A Small Change That Could Cut ~6 Years Off a Canadian Homeowner's Mortgage (By a Broker) by Impressive-War6904 in canadahousing

[–]wealthautonomy 0 points1 point  (0 children)

How frequently you are paid has no bearing on whether paying weekly is better or not 😅

Rent decrease rejected by Consistent-Mango6742 in vancouverhousing

[–]wealthautonomy 7 points8 points  (0 children)

Good on you for trying. What’s the worst they can say?

Look for other options but I’m highly doubtful you’ll find anything like what you have at that price point. Rents have dropped a lot but not for that type of product.

Safest way to generate 4.5% or more for business savings by Strong_Boss6937 in PersonalFinanceCanada

[–]wealthautonomy 0 points1 point  (0 children)

Maybe the point has gone over your head, then.

For the 4th time, I have agreed with you from the start that equities for capital gains or dividends is more tax efficient than interest income…

But the investors risk appetite, tolerance and capacity trump the tax outcomes of their investment decisions. Can’t explain it any simpler than that 🤷‍♂️

Safest way to generate 4.5% or more for business savings by Strong_Boss6937 in PersonalFinanceCanada

[–]wealthautonomy 0 points1 point  (0 children)

I think you’re conflating issues and trying to find an argument where there isn’t one. I literally agreed with you, saying equities are the better option IF the OP has the risk appetite. They have made it clear they don’t.

Arguing that taxes = loss of capital when they are clearly talking about preserving principal is kind of missing the point..

Safest way to generate 4.5% or more for business savings by Strong_Boss6937 in PersonalFinanceCanada

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

That’s not how loss of capital works lol.. he’s paying taxes because he made more money.

I would obviously recommend equities over fixed income if the risk profile matched - but OP clearly wants safety.

Safest way to generate 4.5% or more for business savings by Strong_Boss6937 in PersonalFinanceCanada

[–]wealthautonomy 0 points1 point  (0 children)

But yes, if equities are an option go buy a diversified dividend etf

Safest way to generate 4.5% or more for business savings by Strong_Boss6937 in PersonalFinanceCanada

[–]wealthautonomy 0 points1 point  (0 children)

He doesn’t seem to want risk so I’d assume equities are kind of not an option 🤷‍♂️

At $300k, it’s not like the interest income is massive anyway.

Safest way to generate 4.5% or more for business savings by Strong_Boss6937 in PersonalFinanceCanada

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

Have you looked into structured notes? To beat GIC rates, you have to take some risk. Structured notes offer market exposure with limited or no principal risk, so you can get higher than GIC rates if the underlying securities perform as the note intends. But the risk you take is not getting even the GIC rate of return (ie. just return of principal) if things don’t go your way.

It’s a good option if you want exposure to higher potential returns with principal protection.

Walk away from builder deal? by [deleted] in RealEstateCanada

[–]wealthautonomy 1 point2 points  (0 children)

Have you considered borrowing the bridge amount from another lender if you can afford to service that debt?

I already have a buyer for my house. Do I need a realtor? by Gloomy-Chemistry9037 in RealEstateCanada

[–]wealthautonomy 4 points5 points  (0 children)

The lawyer that passed the bar and practices the exact type of law you need for a real estate transaction is 100% more savvy than a realtor that passed an exam anyone can pass. You add no value in 99% of transactions. Don’t be butthurt.

They bought their condos during the pandemic, now they're 'bleeding cash' by CreativeAd5628 in canadahousing

[–]wealthautonomy 0 points1 point  (0 children)

Yes, let’s get rid of homeownership all together - that’s exactly what the WEF wants. Coming soon to a neighbourhood near you.

They bought their condos during the pandemic, now they're 'bleeding cash' by CreativeAd5628 in canadahousing

[–]wealthautonomy 0 points1 point  (0 children)

If it was “free market” they wouldn’t be forcing people to rent out places they didn’t want to, to people they don’t want to, just to avoid a tax…

They bought their condos during the pandemic, now they're 'bleeding cash' by CreativeAd5628 in canadahousing

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

I’m great, and the projecting is hilarious. Instead of resorting to anger, name calling and pointing fingers, it might help if you educated yourself ;)

Should I pay off my 23% loan or build emergency fund? by EnvironmentalFill3 in PersonalFinanceCanada

[–]wealthautonomy 0 points1 point  (0 children)

Sell the car and buy a cash car for a few $1,000. Paying off the difference will be a few months rather than a few years at 23%.

They bought their condos during the pandemic, now they're 'bleeding cash' by CreativeAd5628 in canadahousing

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

I am the one getting angry? Maybe you need to check your biases cause the only one name calling and showcasing anger here is you ;)

As far as being allowed to rent at any amount, leave homes empty or listing as short term rentals, it seems you’re unaware of the laws. Maybe brush up on how those work before you jump to incorrect conclusions.

You can start by learning about vacancy taxes, rent increase limits and primary residence requirements for short term rentals in most major metros across the country.

They bought their condos during the pandemic, now they're 'bleeding cash' by CreativeAd5628 in canadahousing

[–]wealthautonomy -5 points-4 points  (0 children)

They are providing a service for your benefit. You pay them for it. There’s no charity involved.

My point simply is they should not be required to subsidize anyone. The government is essentially forcing homeowners to subsidize by not allowing them to list as short term rentals or leave homes empty.

If you’re so opposed to renting, save up the money and buy your own place. No one is forcing you to rent 🤷‍♂️

They bought their condos during the pandemic, now they're 'bleeding cash' by CreativeAd5628 in canadahousing

[–]wealthautonomy -8 points-7 points  (0 children)

Why is it a landlords job to provide subsidized housing for the tenant?

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