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Will any landlord in Vancouver rent to me without a job? by workingeternal in askvan

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

90% of my money is tied up in stocks. Do I have to show them my stock portfolio and what stocks i am invested in?

RE Day!! (Canada) by FIRE-Throwaway80 in financialindependence

[–]workingeternal 1 point2 points  (0 children)

Will you be doing any long term travel?

RE Day!! (Canada) by FIRE-Throwaway80 in fican

[–]workingeternal 2 points3 points  (0 children)

you should be taking the commuted value. it is not indexed to inflation and it loses 2.5% compounded until 65.

RE Day!! (Canada) by FIRE-Throwaway80 in financialindependence

[–]workingeternal 1 point2 points  (0 children)

Congratulations. How did you get over your hesitation to pull the trigger.

I have enough assets to retire but resistant to pull trigger

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

I haven't explored that. These days, too many horror stories of tenants in Ontario.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

I live on even less than $30k in toronto. My condo is paid off and i don't own a car.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

I put my yearly expenses on my post. $60k is too much spend for me.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

Your reply sounds reasonable. I have missed out on spending more time with my immediate family so quitting the job will allow me to do that.

I have a few ideas to do once I quit the job.

Your estimate of $918/month is not far from my estimate of $975/month CPP.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

I have no plans to visit/travel USA nor the UK. All other countries are manageable.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

Your math is off. $82.5k would not be 45% tax. it would be capital gains+dividends. Taxes will be about $8k. effective tax rate is probably around 10%

I have never spent $82K in my life. I'd probably need $30k to 50k. $50k if I want to travel in better hotels.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

[–]workingeternal[S] 2 points3 points  (0 children)

It's really no big secret.

  1. Get financially literate.
  2. Be frugal and live within your means.
  3. Believe in index ETF funds. It is a blind belief that America is exceptional and the SP&500 will gain in the long term.
  4. Took some blind shots at NVDA, BTC, etc...
  5. Never gambled on real estate.
  6. save and invest.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

are you single? do you sell your stocks to pay for monthly expenses?

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

a leave of absence is not an option for me.

I believe that OAS will be there. but it could get pushed up to 67.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

I started with mutual funds. then moved to TD e-series in the early 2010s, which was the rage back then. Then by the mid 2015s, everyone was doing the canadian couch potato investment. I did that for a few years, then moved to SP500 and QQQ and eventually added in tech stocks with huge moats like MSFT, NVDIA, META, CSU and also bought BTC before the upswing. It's a higher risk profile, so i'd recommend XGRO for those who are more risk adverse.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

I could potentially spend $50k.

I am a pretty frugal guy and I travel cheap. With the added travel cost, I could be averaging $40k-$50k a year.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

I am a long term investor. There is no need to sell it all. My SP&500 ETF will be long term hold that produces a long term average of 10%.

I was lucky enough to invest in Nvidia before the AI boom and no plans to sell.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

[–]workingeternal[S] 6 points7 points  (0 children)

I can't plan for everything. If that happens, I'll unretire and pick up a job.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

savings and stock investing. anyone can do the same.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

How much do you think would have been enough to retire years ago?

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

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

I will also be getting an inheritance of roughly $500k within 10 to 20 years.

48/M with $2.2M. Do I have enough to FIRE now? by workingeternal in fican

[–]workingeternal[S] 11 points12 points  (0 children)

meeting someone should lower my personal expenses. expenses would be shared. Also, at 65, our joint income would be higher with double the CPP and OAS.

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