How much do you know about financial independence?

Posted by: heckler

Posted by: [email protected]

Posted by: heckler

Too the moon!!!  LFG!

Lots of available land on the moon but difficult to build a house there, also you have to fly your rocket everywhere, rocket fuel prices are through the roof lately.

No, when it comes to geo arbitrage the moon is not on my radar.

you are far too serious sometimes. :)

https://tenor.com/o9yoFv1SUTs.gif

That poor dog went to heaven instead of the moon last week: https://www.bbc.com/news/articles/czkkr8l7jjxo

No rocket needed and very low cost of living up there I hear, but the move-in fee is brutal. I'm sticking with earth for now.

Lol and RIP little pup

Posted by: SixZeroSixOne

Texada fixer-upper for 400k

https://www.rew.ca/properties/5453133/4649-cedar-street-texada-island-bc?search_params%5Bquery%5D=Texada+Island%2C+BC&searchable_id=903&searchable_type=Geography

Sweat equity. I'd turn this place into a dream home. I've actually been in this house before as an old friend of mine lives across the street.

It's not like prices in the sticks are gonna completelt detach from prices in the lower mainland somehow. No matter what the market does our condo should still be able to get us a small house somewhere remote. This isn't happening for another 10-15 years anyways...

Jesus, that looks like it needs bull-dozing and starting afresh...

How much does it cost to clear a plot like that???

I presume you'd have next-to-no chance of getting any trades people in so any work is gonna be DIY...

I'd chip away at it over time lol. Like I said I've been in the house before and my good bro would be my across the street neighbor. Between the two of us we can do anything trades wise.

He bought his property on Texada with a falling apart house for 45k 6 years ago, fixed it up and now he rents rooms to 5 different people on disability. He's able to earn a decent living on the island as one of the few general handymen. He charges his tenants 30% of whatever the government gives them which is the kind of landlording I can get behind. Only landlord I know that can actually claim they're providing housing.

Guys.  I screwed up. 

https://youtu.be/N7Ka6i8M2zo?si=-sTcQ-nUNueGFuA3

Clearly I chose the wrong career path.

Posted by: [email protected]

I ended up opening a self-directed FHSA at Wealthsimple. So far so good. No fees for anything. For simple CAD-listed index ETF buy-and-hold investing it seems perfectly fine.

My other accounts are at TD DI, the risk for TD is that I like paying no fees at Wealthsimple so much that I end up transferring my other accounts over as well.

Wealthsimple is now offering a 1% match for any transfers from another broker:

https://promotions.wealthsimple.com/hc/en-ca/articles/25992559764379-Wealthsimple-1-Match-Offer

Tempting offer but my investment approach is "ignore the noise and don't touch anything unless absolutely necessary" so I'll probably ignore this too....

VFV is up 2.2% since May 31.  You could miss the most critical trading days of the year during a large transfer.

Stay disciplined. Excellent example from the pandemic.

https://youtu.be/xFnBHuYET2I?si=lqzqBBkPx2KCN6P9&t=290

Posted by: heckler

VFV is up 2.2% since May 31.  You could miss the most critical trading days of the year during a large transfer.

Shares can be transferred in kind so it doesn't matter.

Ah yes, I’m used to transferring out of Sunlife mutual funds

I been using wealthsimple to do my income tax for a few years now and its pretty slick, pay whatever you want I think I thru them 10$

with the auto fill/ pay on-line my 23 taxes  took me < an hr

Related to Wealthsimples offer:

Be careful moving your TFSA — or the CRA might come knocking
Jamie Golombek: Taxpayer on the hook for fine for improperly transferring contributions from one bank to another

https://financialpost.com/personal-finance/taxes/moving-tfsa-could-alert-cra

TLDR: do not withdraw your TFSA funds from one bank and deposit it to a second bank. Instead, use the request form from the second bank to transfer funds from the first and keep your TFSA funds sheltered from the taxman. The courts agree with the taxman.

Link to CRA requirement: 

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4466/tax-free-savings-account-tfsa-guide-individuals.html#P44_1143

https://get.wealthsimple.com/wealthsimple-workplace-savings/

Well, now my advocacy efforts are going to get interesting….

I just moved a TFSA.  It took two months for the holding bank to release the funds, and they've yet to arrive at the destination bank.

Form T2033 I believe.