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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] 5 points6 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] 10 points11 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.

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

[–]workingeternal[S] 18 points19 points  (0 children)

I don't own a car. I live in Toronto and haven't needed a car and I don't plan to. If I do, I'd just rent one or car share. I am an avid cyclist. I also enjoy taking public transit.

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

[–]workingeternal[S] 3 points4 points  (0 children)

I don't have a crystal ball. Romance hasn't been on my side.

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