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Mainly Mattias

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Zero.

Own my condo. No student loans. No car payment.

Actually saved up a nice chunk of money already.

I don't understand debt other than mortgages. The woman in the OP's post says she has XXXXX amount of debt and then in the next sentence talks about Christmas being crazy and having 5 kids. if you have 5 kids, spend money like an idiot on Christams and have a low income; you deserve to be in debt. You're an idiot. Everybody just wants to live over there means.

Same with the idiots I hear complaining about living costs in DT Vancouver being to high for the average Joe. Hello! The rent didn't jump overnight. It's been trending upwards for like a decade. If you wanted to live in a 3000 dollar a month condo and have a nice car you should have went to school and got an education/job that allows you to live DT. I don't want to hear about some idiot who got his grade 11, ended up being a security guard bitching about not being able to live DT. you aren't allowed. That's life.

It comes down to people not living in reality and understanding the world they live in. Be more cautious of your situation. no education and barely making payments? Don't have kids. If you can't afford it - Don't buy/spend it. if you want it, work for it and buy it. It's a fairly simple idea.

Cliffs:

Hate poor people.

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About $350k on a mortgage on an $800k property offset by over $200k in investments. Wondering why people try to pay down their mortgages faster right now. my mortgage is at 3.1% and most others should be near that or even lower. . Average investor who isnt a dumb ass can make 8% or more right now without too much hassle so why would I or anyone dump that money into a 3.1% return.

Its the exact same reason TFSA's suck. None pay a decent return. Yeah the return is tax free but since the return doesnt even outpace inflation your treading water at best. Its better than a regular savings account but its still a suckers bet.

For those talking about how real estate isnt a decent investment right now I hear ya. i bought originally in 1998. A few years before prices took off at about 25% a year from 200 to 2008. yeah, my house more than tripled in value. I sold and moved into a more expensive place I wouldnt have been able to dream of before I had the original purchase pay off so well. If I was starting out now I might hold off a couple years due to uncertainty of future price fluctuations in the lower mainland. But if your spending under 300k, say for a new townhouse in Surrey/Delta and it was my first home the current hew home buyers tax credit is a sweet $10k tax bonus to help the decision to buy before it expires march 31st 2013.

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Anyone know anything about Mutual Funds? Now that I am debt free, I will have about $500 bi weekly to spare. No idea where to really start. High interest saving accounts and TFSA accounts just don't really seem to bring any real return.

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Anyone know anything about Mutual Funds? Now that I am debt free, I will have about $500 bi weekly to spare. No idea where to really start. High interest saving accounts and TFSA accounts just don't really seem to bring any real return.

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About $350k on a mortgage on an $800k property offset by over $200k in investments. Wondering why people try to pay down their mortgages faster right now. my mortgage is at 3.1% and most others should be near that or even lower. . Average investor who isnt a dumb ass can make 8% or more right now without too much hassle so why would I or anyone dump that money into a 3.1% return.

Its the exact same reason TFSA's suck. None pay a decent return. Yeah the return is tax free but since the return doesnt even outpace inflation your treading water at best. Its better than a regular savings account but its still a suckers bet.

For those talking about how real estate isnt a decent investment right now I hear ya. i bought originally in 1998. A few years before prices took off at about 25% a year from 200 to 2008. yeah, my house more than tripled in value. I sold and moved into a more expensive place I wouldnt have been able to dream of before I had the original purchase pay off so well. If I was starting out now I might hold off a couple years due to uncertainty of future price fluctuations in the lower mainland. But if your spending under 300k, say for a new townhouse in Surrey/Delta and it was my first home the current hew home buyers tax credit is a sweet $10k tax bonus to help the decision to buy before it expires march 31st 2013.

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About $350k on a mortgage on an $800k property offset by over $200k in investments. Wondering why people try to pay down their mortgages faster right now. my mortgage is at 3.1% and most others should be near that or even lower. . Average investor who isnt a dumb ass can make 8% or more right now without too much hassle so why would I or anyone dump that money into a 3.1% return.

Its the exact same reason TFSA's suck. None pay a decent return. Yeah the return is tax free but since the return doesnt even outpace inflation your treading water at best. Its better than a regular savings account but its still a suckers bet.

For those talking about how real estate isnt a decent investment right now I hear ya. i bought originally in 1998. A few years before prices took off at about 25% a year from 200 to 2008. yeah, my house more than tripled in value. I sold and moved into a more expensive place I wouldnt have been able to dream of before I had the original purchase pay off so well. If I was starting out now I might hold off a couple years due to uncertainty of future price fluctuations in the lower mainland. But if your spending under 300k, say for a new townhouse in Surrey/Delta and it was my first home the current hew home buyers tax credit is a sweet $10k tax bonus to help the decision to buy before it expires march 31st 2013.

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  • 3 weeks later...

About $350k on a mortgage on an $800k property offset by over $200k in investments. Wondering why people try to pay down their mortgages faster right now. my mortgage is at 3.1% and most others should be near that or even lower. . Average investor who isnt a dumb ass can make 8% or more right now without too much hassle so why would I or anyone dump that money into a 3.1% return.

Its the exact same reason TFSA's suck. None pay a decent return. Yeah the return is tax free but since the return doesnt even outpace inflation your treading water at best. Its better than a regular savings account but its still a suckers bet.

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