I'm just curious what type of offspring I would produce and the type of parent I would be but not curious enough to make it happen yet unless it's an accident lolThis quote is hidden because you are ignoring this member. Show Quote
I'm just curious what type of offspring I would produce and the type of parent I would be but not curious enough to make it happen yet unless it's an accident lolThis quote is hidden because you are ignoring this member. Show Quote
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
With the girls you date I’m surprised there haven’t been multiple “accidents” by nowThis quote is hidden because you are ignoring this member. Show Quote
https://www.moneysense.ca/columns/as...ered-accounts/This quote is hidden because you are ignoring this member. Show Quote
They did not say how much the life expectancy needs to be shortened. I could start smoking, catch COVID, or identify as an subjugated 40 year old white male with some money.There are exceptions when a locked-in account can be withdrawn, either partially or entirely. Exceptions include extreme financial hardship or a shortened life expectancy; some provinces also allow unlocking based on your age.
Last as in previous, or last as in never againThis quote is hidden because you are ignoring this member. Show Quote
Buy PPL and keep buying PPL on margin. The more the better.This quote is hidden because you are ignoring this member. Show Quote
If you can transfer other registered accounts into your TFSA, how come you can't just withdraw your entire TFSA and use that account as retirement $. Next coming year you get all that contribution room back, right? Then transfer your RRSP into your TFSA (full contribution amount), withdraw tax free, repeat next year.
I know you can't do that, but seems logical when I'm thinking about it now
Depending on pension legislation, he just has to wait until 50 or 55, and the expectations don't apply. Once you hit the appropriate age, you can complete the 50% unlocking.This quote is hidden because you are ignoring this member. Show Quote
Down side, the remaining 50% is converted to a LIF and you have to begin receiving annual minimum payments.
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The act of transferring your RRSP to your TFSA is not a tax-free move.This quote is hidden because you are ignoring this member. Show Quote
The RRSP withdrawal to deposit into your TFSA would be considered taxable income.
Remember, funds going into an RRSP are "before-tax" subject to tax when they are withdrawn, where funds going into a TFSA are "after-tax" and not subject to tax upon withdrawal.
These opinions are entirely my own and do not represent any other person or organization.
Oh yes, that little detailThis quote is hidden because you are ignoring this member. Show Quote
Brain fart
One final bit of clarification. Do I actually have to be 50 or 55, or do I simply have to identify as one? Being an oppressed 40 year old white male adds at least 10 years to my age.This quote is hidden because you are ignoring this member. Show Quote
This quote is hidden because you are ignoring this member. Show QuotetruthThis quote is hidden because you are ignoring this member. Show Quote
Updated: March 10, 2022
My list of random For Sale (some free) stuff
That's $120K/year. 4% rule means $3M portfolio. But like Buster said, you probably need double that if you are doing it early.This quote is hidden because you are ignoring this member. Show Quote
I theory, $60-80K/year is my budget but I only need to sustain that for 20-30 years and I know I definitely want to work til 50, 55 if I'm really bored and healthy enough (and I really want to maximize CPP from Feds).
I still think I need to blow my wad by 75 and make it Canada's problem after that.
120k a year income, split between two people also means not particularly high taxes. So you should keep the vast majority of that.
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If you want to include CPP (early at 60) and OAS at 65, you are probably looking at only $40K top up from your portfolio to hit $60K.This quote is hidden because you are ignoring this member. Show Quote
The only problem I can see from my circle is people with adult kids 20+ and they have not left home yet. While schooling cost has stopped, everything else has not. And those are the one that had their kids at 20s/30s. Now to my others who had them at 40s, it's definitely a way longer road ahead.
And when it comes to retirement, you better damn sure both partners are on the same page. I laugh when an old colleague who retired is still looking for work. I asked him why and his wife won't retire and travel with him, so he's bored.
Last edited by Xtrema; 06-03-2020 at 05:57 PM.
What are the current divorce rates? 40%? So definitely have a plan for that lol Sorry not hating, just pointing it out to those rich 40+white dudes who may or may not have a prenup hehe
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Anyone with cash that doesn't have some type of separation agreement in place is... very risk-tolerant.This quote is hidden because you are ignoring this member. Show Quote
Wife and I had very even finances when we got married, made a prenup redundant. Since then, I think it's ended up pretty even too.
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Most people who get married at 25-30 years of age dont have significant assets so a prenup wouldn't really help them in a divorce. Throw in some kids to the mix or have your wife stop working to raise them and really watch out.This quote is hidden because you are ignoring this member. Show Quote
Separation agreement =/ pre-nup.This quote is hidden because you are ignoring this member. Show Quote
If my wife and I split, we both know exactly how it's going down, who gets what, etc. Quick and easy.
You don't have kids right? I don't think there is any "quick and easy" when splitting up with kids. Although I admit I haven't looked into it. I like this wife and intend to keep her.This quote is hidden because you are ignoring this member. Show Quote
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That is lovely to hear. I hope your wife likes you and intends to keep you.