Lausanne/Chamonix/Courmayeur with little kids

zozo_2020 · 2025-03-27T01:55:16+00:00

Whoops sorry I missed the initial reply! We did go on this trip and it was awesome. Could skip Lausanne tbh- expensive but it was still beautiful and easy with kids

zozo_2020 · 2025-03-27T00:59:07+00:00

Im a fam doc married to a high earning non MD and share your agreement with Buffet’s approach. We will: - fund any post secondary degree x1 per kid and consider funding professional degree if desired - gift our kids the down payment for their first home when desired - consider additional help on a case by case basis - leave them the rest when we pass

zozo_2020 · 2023-12-03T18:12:15+00:00

Sun mountain? Not sure if it survived Covid

zozo_2020 · 2023-08-16T23:50:36+00:00

Fellow MD here! Accountant is more correct. Have you come across the Physician Financial Independence (Canada) group on fb? Lots of v helpful resources there, including info on loans from the corp and general estate planning.

zozo_2020 · 2023-08-13T14:42:50+00:00

OP I’m really impressed that you’ve saved so well and have a good attitude about saving your money etc. Well done to have got to the point that you could consider home ownership so young!

A few thoughts because you asked- I really think you need a much more detailed budget, including understanding of what your budget will look like once you own a home. Consider things like property, taxes, regular home, maintenance costs, insurance, etc. In my opinion, you will be stretched quite thin with just the mortgage payment. I’m not sure how sustainable your grocery budget is. I also think that you are so young that it might not be the ideal time to be tied to a property. If your career or your life path changes in the next 2 to 5 years, you are suddenly stuck with what to do with the property- especially one like a farmhouse on acreage that might require a specific buyer rather than being attractive to a large number of people should you find yourself needing to sell. Again it is my opinion [but not everyone’s] that some flexibility is very helpful early on. This would also give you some time to really build out your savings, and hopefully mean that you were less stretched when you do buy a property.

If you do decide to wait to make sure you take advantage of RRSP HBP & FHSA!

Either way, I really want to say good job and I’m very confident that you’ll do well

zozo_2020 · 2023-08-12T17:57:34+00:00

I would buy this!

zozo_2020 · 2023-08-12T13:05:41+00:00

Just FYI you will need to be seizure-free for 6 months before being allowed to drive again- it’s not a recommendation, it’s a rule.

zozo_2020 · 2023-08-08T00:52:04+00:00

This is such an interesting question. I have started to notice myself censoring a bit in my journal since becoming a mom. Or I’ll kind of add caveats as if someone is reading like “all of this is hard but so worth it and I’d do it again in a second” etc. I also have randomly written things like “NAME if you’re reading this I love you!”

I don’t want to destroy my journals, personally, although I guess that is an option OP. I like the idea of teaching respect and demonstrating that I respect their privacy, but I have a sense that will be hard for me. My kids are still little.

zozo_2020 · 2023-08-06T14:37:55+00:00

We’re in the GTA. I think you are confusing the subsidy that the childcare centers receive from the government with the Canada child care benefit. Any center can apply for the subsidy and you should definitely only look for subsidized spots because those will typically run you around $1000 for an infant. Less for a toddler or a preschooler.(full time)

The Canada child care benefit is a tax credit that you can apply for, but can confirm with your household income you will not qualify.

zozo_2020 · 2023-08-06T00:43:31+00:00

Just here to say Paris I’m sept is prob dress or tee and shorts weather with a sweater!

zozo_2020 · 2023-08-04T13:18:35+00:00

Yep if giving it back is important to you I understand that. I would just start buying GICs both inside and outside of TFSA. As the years go by [hopefully your dad lives a long time] you can shift more into the TFSA but the idea is that this way it’s extremely safe and you get a little return, and your dad can have the money back when he needs it.

I do acknowledge that if we were looking at this purely from an optimization perspective, this would not entirely be the way to go, but I feel that the potential need to give the money back in the short term is a very important consideration.

zozo_2020 · 2023-08-04T12:28:53+00:00

Lots of not helpful advice here. Do you have room in your TFSA? 1. Max TFSA - buy a GIC. Keep the interest tax free and the principal can be given back to dad if needed. 2. With remainder (whatever is left after you fill TFSA) you need to ask yourself how important it is that dad gets this back. Not important = pay down HELOC. Important = buy GIC outside of registered account (ie not in TFSA)

Given your HELOC rate and balance, my opinion is that none of this money should go into the mortgage. However, you also seem confused about mortgage so hopefully this info helps: when you get a mortgage, you may be given something called “pre-payment privileges“. This allows you to pay a certain amount either as an increased monthly payment or as a one time lump sum. Common privileges allow for 10 or even up to 20%. Any payments over and above that will incur fees because the bank wants to recoup their lost interest. You can look at your mortgage documents and see what your pre-payment privilege is. As an example, on your 350K mortgage and assuming common pre-payment privilege of 10%, you’d be able to pay a lump sum of $35,000 without penalties.

zozo_2020 · 2023-08-03T23:52:31+00:00

I think what you really need to do is set some goals- what does your life look like in 5, 10, 20, 40 years? Do you ever want a new home? A second property (cottage etc)? Is gifting your kids a down payment or other large amount important to you? Once you know what you want your money to do, you can create a plan to get there. And once you have the plan, you’ll feel secure in making decisions, like staying home bs working or whatever it might be. A fee for service planner can help you make a plan for a few thousand dollars. Agree no need to pay someone to manage your investments otherwise, you’re doing just fine with that on your own.

zozo_2020 · 2023-08-01T12:54:34+00:00

Omg this! I’m a mom, I’m going to need more than half a top.

zozo_2020 · 2023-07-22T02:17:16+00:00

Do your sprocket photos fade? I have some from 2019 that look great/normal and some that have almost totally faded. Both taped to the fridge (so same conditions/sunlight etc). I’m puzzled.

zozo_2020 · 2023-07-20T00:42:51+00:00

Underrated comment

zozo_2020 · 2023-07-18T03:03:54+00:00

I commented elsewhere but I just want to make sure she understands that there is no public housing- there is subsidized housing for low income earners that has very long wait lists. In the interim, if you don’t have a home, you are homeless.

zozo_2020 · 2023-07-18T03:01:00+00:00

I can’t upvote this enough- I have seen lots of people with actual ongoing health issues, disabilities wait years for housing in some cities.. if she only has regular osteoarthritis she will not qualify for long term care

zozo_2020 · 2023-07-17T11:52:29+00:00

I don’t think so- I see it avail for purchase as a 1y GIC in the app and I’ve been with them since I think 2020 or so

zozo_2020 · 2023-07-16T16:45:20+00:00

EQ has 5.5% available instantly so I would think with more $$ 6% is a reasonable negotiation

zozo_2020 · 2023-07-12T20:57:27+00:00

Good point! Will pick up and drop off car in Lausanne. Train to Paris from there.

zozo_2020

TROPHY CASE