Couldn't find that guy soon after mortgage is done. So may be this is one off and he did something sketchy to get the commission.This quote is hidden because you are ignoring this member. Show Quote
Couldn't find that guy soon after mortgage is done. So may be this is one off and he did something sketchy to get the commission.This quote is hidden because you are ignoring this member. Show Quote
Oh, trust me it's possible.This quote is hidden because you are ignoring this member. Show Quote
Got a chick telling me she got no saving to own a condo and then turn around blew $3000 on black Friday because she ain't living like a peasant.
But what's he going to spend with if it's locked up in savings?This quote is hidden because you are ignoring this member. Show Quote
Last edited by Xtrema; 01-22-2019 at 05:21 PM.
I find I’m cyclical, one year I’ll spend all of my liquid savings while still contributing to RRSP and lump sums on my mortgage then the next year I’ll save as much as possible while still making those contributions.
I sold that two bed two bath unit I had on in Mission, 55 days.This quote is hidden because you are ignoring this member. Show Quote
Legit. 2017 was a save everything year, 2018 was a spend everything year.This quote is hidden because you are ignoring this member. Show Quote
Your annual RRSP limit is 18% of income. No employer would do a 10 for 10 match for RSP'sThis quote is hidden because you are ignoring this member. Show Quote
There are still some pretty nice DB and DC plans in the O & G world probably make a lot of people mad... best i've seen is a 5 for 13 match
J
Any written offers?This quote is hidden because you are ignoring this member. Show Quote
Updated: March 10, 2022
My list of random For Sale (some free) stuff
A person who makes $70K/yr saves more than someone who makes $100k/yr. I believe this was proven a few years ago in a study.
Yup... definitely would make people mad. My company basically does 10% for new hires, 12% after 5 yrs, and 14% after 10 yrs. Also matches 2% if you contribute 4% on top.This quote is hidden because you are ignoring this member. Show Quote
So for a 10 year person, its 16% for 4% match essentially. This will be over your limit, so you will get some back in taxable cash.
Damn!This quote is hidden because you are ignoring this member. Show Quote
Where is this? Pm me if you like.
I've seen 10% Employee for 15% Employer in O&G. It is a Share purchase plan, not specific to RSP.This quote is hidden because you are ignoring this member. Show Quote
Mike
14 ZL1
07 Mazdaspeed3
Regarding housing I feel that Calgary and Edmonton have been pretty much flat for years now. And I don't really see it changing anytime soon. And even if it is flat, you are losing money when you look at inflation. Obviously not an issue if you aren't over extending on your housing or have more than 5% equity, but that is likely not the case for many people.
Regarding saving, I think most people just have no idea what they are doing and assume CPP and OAS will cover them when they retire. Perfect example, my buddies parents just came to him bragging about how they were both 65 now and ready to retire and asked if he could help them apply for CPP and OAS online. He did for both of them and the total they were going to get was something like $2,500 per month. He said they had blank looks on their faces and said "well that doesn't even cover the mortgage, truck payment and trailer payment..." He then asked them what else they had saved and how many more years of payments they have. Turns out they had saved nothing else, had like 5 years on the house, 4 years on the truck and ~20 years on the trailer! He told them they would have to work at least 5 years to pay off the house and truck before they could retire and his mom was like "but I already told them I was retiring" It is so sad it is funny. But I think there are lots of people like this out there.
This is true. I can't fathom how anyone thinks they are going to be okay with outstanding debt on a house, truck, and trailer at the time of retirement.This quote is hidden because you are ignoring this member. Show Quote
I can get having dismal savings going into retirement but this anecdote paints a completely different picture of ignorance and lack of planning.
Holy fuck. They never ONCE looked into it? People are so dumb it's shocking. OAS and CPP aren't supposed to be covering your brand new truck and trailer payments FFS.
People need to have this conversation with their parents years ahead of this point if there is even a chance of this situation.This quote is hidden because you are ignoring this member. Show Quote
My basic rule of thumb is that you need to be payment free (including mortgage) for a decade before you can retire.
This quote is hidden because you are ignoring this member. Show Quote
Wait a minute. I thought it was only millenials wanting the latest iPhone who had no idea how to save and were bad with their money?This quote is hidden because you are ignoring this member. Show Quote
Ultracrepidarian
Who do you think taught them how to live that way?This quote is hidden because you are ignoring this member. Show Quote
Oh, no doubt. It's always comical reading comments where it's the latest generation that is the problem.
Ultracrepidarian
Having children is the retirement plan! CPP, OAS, reverse mortgage, and allowance from children! Live high on the hog and leave them nothing!!!This quote is hidden because you are ignoring this member. Show Quote