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jfood posted:Glossing over the insurance inspector who was either blind or on the take was the high-point for me. Someone asked about this in the comments. A girl replied, apparently one of the renters: quote:He would take them down. We had to leave between 8 and 5, he'd text us when we could come back. He moved furniture and our belongings into a moving truck, took it somewhere. I lived at 17 Huron for 8 months. I never suspected how bad this all was but I knew he wasn't up to good stuff. The girls though, were great. It was always a risk to say anything and get us all evicted. In the end, after all the garbage, our lawyer said it wasn't worth going after him for the breach of lease and headache he put me through. It's a shame, perhaps suing him would have ended this sooner. A great comment was "Toronto Life really has found their niche in rich, white people sob stories"
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Aug 24, 2015 18:16
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Shadoer posted:Yeah that's a good idea. Odds are if you wait they'll recover. As long as you remember that the best investors are dead (i.e. they make an investment and then die without closing the account so they can't do anything dumb with their money) you'll do alright.
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Aug 24, 2015 18:17
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I am not looking forward to seeing how much the money I socked away for grad school in my TFSA/RRSP has dropped, conveniently just before I'm due to start.  It's mostly in low risk mutual funds but I imagine it won't make a ton of difference. Maybe it'll drop a bit less than higher risk ones but really when savings accounts have sub-inflation interest wtf else are you supposed to put it in?
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Aug 24, 2015 18:25
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Mr Luxury Yacht posted:I am not looking forward to seeing how much the money I socked away for grad school in my TFSA/RRSP has dropped, conveniently just before I'm due to start.
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Aug 24, 2015 18:51
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Mr Luxury Yacht posted:I am not looking forward to seeing how much the money I socked away for grad school in my TFSA/RRSP has dropped, conveniently just before I'm due to start. If it's money you know you will actually be spending in the near future, you shouldn't be investing with it at all because, well, you know now. For any planned expenses within a few years, just put it in a "high interest" savings account.
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Aug 24, 2015 19:17
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The Butcher posted:If it's money you know you will actually be spending in the near future, you shouldn't be investing with it at all because, well, you know now. I guess my thinking was "High Interest" savings accounts are at like 0.5% annual interest, which is still sub inflation. Thank you garbage tier interest rates.... I wasn't looking for a real profit or anything, just enough to not lose value to inflation. Hence the low risk funds. Guess I know better now lol
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Aug 24, 2015 19:34
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A valuation is only a number on a paper until you actually sell the asset, if you don't need the money now then you aren't "losing" anything yet. Dead investors win because they never loving ever feel the compulsion to sell at a loss, they'll out-wait any disaster.
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Aug 24, 2015 20:24
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triplexpac posted:Behold, the horrors of renters!!! So they tried to turn an asset in to an income stream and did very little to protect that asset and were surprised to find that it didn't work out? Weird.
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Aug 24, 2015 20:28
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TD shares are yielding 4% right now, how pessimistic do you have to be to prefer a 0.5% savings account instead?
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Aug 24, 2015 20:38
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Decoy Badger posted:TD shares are yielding 4% right now, how pessimistic do you have to be to prefer a 0.5% savings account instead? Time horizons. If you know that you need x amount of cash a few months from now, it's not wise to have it somewhere volatile, in case the market temporarily dumps. If you are saving for the long term, investing makes sense since volatility over time is eased.
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Aug 24, 2015 20:46
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MickeyFinn posted:So they tried to turn an asset in to an income stream and did very little to protect that asset and were surprised to find that it didn't work out? Weird. They got straight up scammed by a criminal who was a pro at these scams. I can't believe they used the same useless realtor though, holy poo poo she had one job. I'm all about loving the landlord class but these idiot rich's were straight up scammed by a pro criminal.
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Aug 24, 2015 20:48
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How do people have money to invest, I only have 900$ in the bank, 5k in debt for spending money stupidly I didn't have and probably 8k more in debt when I graduate and I still haven't managed to begin my career yet.
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Aug 24, 2015 21:00
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Raenir Salazar posted:How do people have money to invest, I only have 900$ in the bank, 5k in debt for spending money stupidly I didn't have and probably 8k more in debt when I graduate and I still haven't managed to begin my career yet. Millenials are totally jealous about that one cool trick; Jobs.
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Aug 24, 2015 21:01
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Raenir Salazar posted:How do people have money to invest, I only have 900$ in the bank, 5k in debt for spending money stupidly I didn't have and probably 8k more in debt when I graduate and I still haven't managed to begin my career yet. Live in your parents basement into your mid 20's and sock away what you'd be spending on rent into a huge investment nest-egg. Also actually be out working vs being an eternal student.
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Aug 24, 2015 21:08
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Now is a great time to point out the great con that is defined contribution pension plans as everyone's is probably in the shitter right now. I'm honestly looking for a job at the city as they're one of the few places that still offer defined benefit plans.
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Aug 24, 2015 21:21
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Ya anyone who thinks a DC plan will be worth anything 20 years from now is a loving moron. Put as little into those as you can unless you can opt out all together.
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Aug 24, 2015 21:24
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jm20 posted:Millenials are totally jealous about that one cool trick; Jobs. I have a job, but it isn't my career. it's painful managing it and studying at the same time. quote:Live in your parents basement into your mid 20's and sock away what you'd be spending on rent into a huge investment nest-egg. Also actually be out working vs being an eternal student. I'm 28. I managed to find a windowless room to rent in an apartment with five people for roughly 210$ a month everything included; considering my parents insisted I pay 300$ this is the most optimal solution.
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Aug 24, 2015 21:27
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Yeah I don't think anyone starts saving until they're done being a student. Have you been a student all the time or just gone back? Also I never got any post-secondary, just worked and saved and now I have an awesome 17.50 an hour career. Baronjutter fucked around with this message at 21:33 on Aug 24, 2015 |
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Aug 24, 2015 21:29
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Baronjutter posted:Live in your parents basement into your mid 20's and sock away what you'd be spending on rent into a huge investment nest-egg for someone like my partner this was not a possibility. They wanted $500/month from her to live in loving Burnaby with a curfew. Of course that was over 6 years ago now, and she's graduated and working whereas I'm the one with one more term left 
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Aug 24, 2015 21:32
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Baronjutter posted:Yeah I don't think anyone starts saving until they're done being a student. It's not impossible, I mean sure you'll be funding that saving by amassing debt simultaneously but depending on your country (  ) and terms that isn't necessarily such a bad thing. You also have to find work with a decent wage and good hours which I guess most will find difficult at that stage of their life.
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Aug 24, 2015 21:36
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EvilJoven posted:Ya anyone who thinks a DC plan will be worth anything 20 years from now is a loving moron. Put as little into those as you can unless you can opt out all together. Yeah, no way that investing in e.g. the S&P 500, a vehicle which has returned approximately 10% annualized since 1928, will be 'worth anything 20 years from now'. It's alright that you don't know a loving thing about finances but can you at least try to be a little bit less noisy about it? blah_blah fucked around with this message at 22:05 on Aug 24, 2015 |
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Aug 24, 2015 22:03
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blah_blah posted:Yeah, no way that investing in e.g. the S&P 500, a vehicle which has returned approximately 10% annualized since 2014, will be 'worth anything 20 years from now'. It's alright that you don't know a loving thing about finances but can you at least try to be a little bit less noisy about it? Your DC plan isnt invested in the S&P 500 though. It's in a mutual fund managed by some dipshit who isn't accountable at all if he completely fucks it up, all the while charging admin fees out the rear end. Hell even if it was the S&P 500 you're still at the will of the market in terms of when you can retire. If you're going to act like a condescending dickhead that doesn't know what he's talking about at least try to not call others out on it.
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Aug 24, 2015 22:10
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1500quidporsche posted:Your DC plan isnt invested in the S&P 500 though. I have a DC plan that is invested in the S&P 500. 
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Aug 24, 2015 22:16
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Its not completely terrible if you have a plan that offers a lot of control combined with employer contribution matching and stuff but your run of the mill 'choose between low medium and high risk packages and also you don't even know the names of the people you're paying to manage your investments' DC plans are crap compared to pretty much any alternative to the company DC pension plan. So ya, you'd be better off contributing nothing or at least as little as possible and seek other alternatives to investing.
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Aug 24, 2015 22:57
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Guest2553 posted:Combined my wife and I have lost more this month on paper than I make from my day job but idgaf i want to watch the world burn, hail satan It's just a test to separate good disciplined investors from amateurs. 1500quidporsche posted:Your DC plan isnt invested in the S&P 500 though. It's in a mutual fund managed by some dipshit who isn't accountable at all if he completely fucks it up, all the while charging admin fees out the rear end. Hell even if it was the S&P 500 you're still at the will of the market in terms of when you can retire. You're pretty ignorant, something like a low cost SP500 index fund is the best way to invest in the market instead of stock picking.
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Aug 24, 2015 23:21
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Why do you guys even bother trying to convince the weed intelligentsia that rolling and smoking up their money isn't the best retirement plan? For everyone who isn't a marijuana nihilist, go read the Canadian investment thread in bfc. Or you know, do some stupid #yolo poo poo instead like a sick sleeve tattoo.
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Aug 24, 2015 23:29
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Cultural Imperial posted:Why do you guys even bother trying to convince the weed intelligentsia that rolling and smoking up their money isn't the best retirement plan? maybe he discovered some alternate magoc investment than stocks that outruns inflation over long periods of time?
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Aug 24, 2015 23:35
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1500quidporsche posted:Now is a great time to point out the great con that is defined contribution pension plans as everyone's is probably in the shitter right now. How's the TTC's pension plan?
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Aug 24, 2015 23:57
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jet sanchEz posted:How's the TTC's pension plan? TTC plan is to kill yourself hotboxing in a car and hoping in your last moments that the life insurance company will not deny the claim.
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Aug 24, 2015 23:57
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etalian posted:TTC plan is to kill yourself hotboxing in a car and hoping in your last moments that the life insurance company will not deny the claim. Public bus drivers get tons of cash and pension money for their time, they are well paid.
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Aug 25, 2015 00:44
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I'm trying to find hard numbers on the performance of company provided DC pension plans over the past 15 years or so and can't find decent sources. Maybe I'm not looking in the right spots but someone has to be crunching the numbers to see just how bad the train wreck of the Gen X / Millennial retirement situation is going to be.
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Aug 25, 2015 01:04
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blah_blah posted:Yeah, no way that investing in e.g. the S&P 500, a vehicle which has returned approximately 10% annualized since 1928, will be 'worth anything 20 years from now'. It's alright that you don't know a loving thing about finances but can you at least try to be a little bit less noisy about it? There's no point attempting to reason anyone out of a position they weren't reasoned into.
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Aug 25, 2015 01:12
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jet sanchEz posted:How's the TTC's pension plan? Better than the CP pension.
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Aug 25, 2015 01:16
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Big K of Justice posted:That's true on dismissal, but not on overtime. When Sony rolled up to Vancouver and moved a chunk of Culver City up with it the Americans went right to the BC labor board about job misclassification stating film/animation workers were IT/tech workers. I'm in NS and work in TV, and no one is ever gonna complain about having to work 60 hour weeks without overtime because over half the studio is fresh out of school and probably aren't at pro level, but get studio work because the studios here are desperate for even semi-competent people. A lot of the newbies that come on pull 70 hour weeks for a few months since their only experience in animation is doing walk, run, and jump cycles in school. But because the standards are so low most of us with some useful training (ex. Sheridan or Animation Mentor) can just put in 40 and leave on time. So it's not a big issue. Our contracts do say that we are are paid for 50 hours though pay stubs only list 40. At least we get paid better than those poor bastards at MPC. Edit: Oh also you may have heard that NS was getting rid of the film tax credits. But apparently that didn't sit well with some very powerful businessmen with ties to NS. So now animation and visual effects are getting reclassified as something else that will still receive the tax credits, while they let live action filming and other production services in the province die. Ccs fucked around with this message at 03:46 on Aug 25, 2015 |
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Aug 25, 2015 03:43
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Mods please change CI's name to either "Weed Intelligentsia" or "Marijuana Nihilist" but keep the av and red text, thanks e: I love you dude don't ever change
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Aug 25, 2015 04:12
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Ccs posted:I'm in NS and work in TV, and no one is ever gonna complain about having to work 60 hour weeks without overtime because over half the studio is fresh out of school and probably aren't at pro level, but get studio work because the studios here are desperate for even semi-competent people. A lot of the newbies that come on pull 70 hour weeks for a few months since their only experience in animation is doing walk, run, and jump cycles in school. Yeah Canadian TV is odd, but generally I fond that most people in that situation load balance their shot load in such a way that they're out the door after 40 hours is up. MPC is a whole different kettle. My friend worked there as a lead for a bit, and got paid OT but found out he was one of the few in his department that got paid OT, because most of the department [Europeans] were under the impression that they didn't get OT and never challenged MPC on the issue... I guess there's idiots in every bunch. The one thing I learned right out of school is to not "finish" too quickly. Get your work done, and done well but stretch things out enough so you get everything done on time. Otherwise you get dumped with extra work from the slow pokes. gently caress that. Its one thing to be expected to work OT and another thing to be so slow at your job that it takes you 50% longer than others. I'm starting to hunt for work in the states again as a plan B in case the exchange rate drops another 10 cents. At that point I'm better off taking a pay cut and at least make US dollars again :/
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Aug 25, 2015 04:31
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Tighclops posted:Mods please change CI's name to either "Weed Intelligentsia" or "Marijuana Nihilist" but keep the av and red text, thanks I hope the meltdown of the chinese stock market will allow him to ascend to the next plane of rage existence.
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Aug 25, 2015 04:58
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Raenir Salazar posted:How do people have money to invest, I only have 900$ in the bank, 5k in debt for spending money stupidly I didn't have and probably 8k more in debt when I graduate and I still haven't managed to begin my career yet. Luck. I'm 25 and I have 100k in my bank, a 2013 car, and no debt, but it was all due to luck. I was lucky that my parents make enough money that they could afford to pay for all my schooling and had the knowledge to save as soon as I was born, so I got my 25k in tuition paid for. I was lucky that my parents let me stay at home for free saving thousands of dollars in rent. I was lucky that my interests led me to pick a career that has a high starting salary. I was lucky that I got my job through nepotism. I was lucky that I was born a straight white male. After all that, I can easily live off of half my salary, so the rest goes into the bank where I have some investment accounts (max TFSA, max RRSP, and a regular investment account). Having said all that, I work in the resource industry for a Chinese company. Will my luck run out soon? Maybe, but I have enough money to live comfortably for a year, and my parents will let me live with them again rent free. I sure as hell don't work hard and I don't deserve to have had all the opportunities life has thrown at me. All you can do is try to recognize those opportunities and take advantage of them. And don't do stupid poo poo like buy a house in Vancouver. It sucks, but life isn't fair and it sure as gently caress isn't a meritocracy.
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Aug 25, 2015 05:23
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Raenir Salazar posted:How do people have money to invest, I only have 900$ in the bank, 5k in debt for spending money stupidly I didn't have and probably 8k more in debt when I graduate and I still haven't managed to begin my career yet. My parents helped a bunch, but I always kept looking for part-time jobs to fill in the blanks between studying. I always kept a lookout. Plus I'm cheap as dirt. Currently I'm managing to save money on an adjunct instructor salary.
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Aug 25, 2015 05:29
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I liked in the whole Chinese stock bubble how the A class shares sold a big premium compared to the H class shares. The stock market isn't a magic money making machine especially if you don't have the personality to be a disciplined investor.
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Aug 25, 2015 05:33
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