Mordko Money Diaries
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Thread: Mordko Money Diaries

  1. #1
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    Mordko Money Diaries

    About us:

    - Mr and Mrs Mordko, in their late 40s.
    - Mr Mordko's income: 150-200K
    - Mrs Mordko's income: currently 0; might do charity and/or a bit of work going forward if she feels like it.

    2 children, both been through this and that and rep hockey and all that comes with it; now at university (which costs less):
    - Child A: finishing off his co-op; will be entering a postraduate programme next year. Should get CPA and stand on his own 2 feet by 2019.
    - Child B: 3.5-4.5 years before graduation.

    Housing:
    - Currently renting; paid for by the client.
    - Looking at re-entering the housing market in the next 12 months with a budget of 700K-1M.

    Objectives:

    - Buy a hobby farm and feed ourselves 100%
    - Retire by the age of 55, once both kids are on their feet.

    Assets:

    - Investments in Canada: $970K. 100% shares, Couch Potato style portfolio.
    - Investments in UK pension funds: $160K. Almost 100% shares, Couch Potato style portfolio.
    - HISA: $800K (earmarked for the house)
    - DB Pension (Mr Mordko) - no idea what the value is, but I would guess transfer value >$500K if I were to change jobs right now. Which I might.
    - RESP (remaining balance): $40K.

    Total assets: ~$2,470,000

    - Other (not counted in the total worth):
    a) a small DB pension from UK for Mrs Mordko from the age of 65
    b) Small state UK and Canadian pensions for Mr and Mrs Mordko from the age of 67/65.


  2. #2
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    wow! would love to hear about how you started off mordko! looks like you are well on your way to your goals! Mind sharing us your story? ups/downs? job history?

  3. #3
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    Excellent...might get valuable guidance those who are the top such as mordko....Would you mind to share your professional background....how to find a job where to make more than $150k a year? What would you do differently if you can go back to the time?

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  5. #4
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    Thanks. Yes, we are on track, which is nice.

    My professional background is engineering/physics. I am from Russia; when I graduated it was still Perestroyka and Russia was popular, so a British company hired me. Started in a smallish company which has since been bought several times over, so now working for a large international corporation. Don't like it all that much; smaller is better. Early on I was looking after both winning and executing work as well as managing staff. That included a few high profile international projects and was fun. My salary grew quite fast. Lately it all kinda stalled; I think the more you enjoy your work, the faster your pay goes up.

    My wife is also an engineer, she used to work part time. Then she got bored with office work + we needed a bit more freedom to keep 2 boys in rep hockey. She likes houses and working with people, so she became a realtor. We have just moved to a different area, so she is not working right now.

    We were also quite lucky with our real estate - more than half of our net worth comes from owning and selling houses we lived in since 1995. The best deal was with our second house in the UK; it was purchased for 102K (pounds) with an 80K mortgage in 1998. It was sold for 240K (pounds) in 2004. The company asked me whether I would be interested in moving to a new division in Canada, so I did because there isn't much hockey in England. At that point the pound was worth 2.4CAD, so we cleared about $500K and bought a house in GTA for $780K in 2004 with a $360K mortgage. It has now been sold for $1.75M with a $90K mortgage.

    Our stock investments have been relatively small - most of the spare cash went into kids's activities/education and mortgage repayments. What has been invested stayed within index mutual funds; more recently - ETFs. I have return data since 2002; stock investments are showing 8% annual return; although real return is obviously a bit lower; probably around 5-6%.

    Everyone gets opportunities. Lucky people are the ones who grab them.

  6. #5
    Senior Member My Own Advisor's Avatar
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    "At that point the pound was worth 2.4CAD, so we cleared about $500K and bought a house in GTA for $780K in 2004 with a $360K mortgage. It has now been sold for $1.75M with a $90K mortgage."

    Very well done.

    With your investments and pensions, you should be easily ready to retire at age 55. Especially with no debt and a $700k - $1M largely paid off home.
    Hidden Content - Working on a $1 million portfolio and $30k per year from it.

  7. #6
    Senior Member humble_pie's Avatar
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    Quote Originally Posted by mordko View Post
    I am from Russia ...

    but you told us you are from belarus
    which you spelled the old way
    byelorussia

    you've always been fiercely aggressive re how much you hated russia
    still do hate russia ...


    .
    ego borago gaudia semper ago

  8. #7
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    Quote Originally Posted by humble_pie View Post
    but you told us you are from belarus
    which you spelled the old way
    byelorussia

    you've always been fiercely aggressive re how much you hated russia
    still do hate russia ...


    .
    Never ever have I told anyone that I am from Belarus. One simple reason: I am not from Belarus.

    Nor have I ever told anyone that I hate Russia, that's dumb. I am not a fan of the imperialistic murderous regime that is running it, that much is true.

  9. #8
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    Quote Originally Posted by My Own Advisor View Post
    "At that point the pound was worth 2.4CAD, so we cleared about $500K and bought a house in GTA for $780K in 2004 with a $360K mortgage. It has now been sold for $1.75M with a $90K mortgage."

    Very well done.

    With your investments and pensions, you should be easily ready to retire at age 55. Especially with no debt and a $700k - $1M largely paid off home.
    Thanks. We shall see what the future has in store... But we won't need a lot of money, most of our expenditure had to do with a) house b) kids and c) food during winter months. In summer and fall we have been feeding ourselves to some extent and only bought meat. Growing stuff small scale is kinda fun.

    Still, one can never be sure about tomorrow.

  10. #9
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    Good stuff and thanks for sharing Mordko. I always thought growing most of your food needs was a great concept. Problem is, that as we age, some physical issues can impact our abilities. Caveat emptor.

  11. #10
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    Quote Originally Posted by Dilbert View Post
    Good stuff and thanks for sharing Mordko. I always thought growing most of your food needs was a great concept. Problem is, that as we age, some physical issues can impact our abilities. Caveat emptor.
    That's true. On the other hand growing food, caring for chickens, etc... forces one to be active and extends the ability to continue doing so for longer. The method I use (square foot guardening) is comparatively light on ones physical abilities. Watering is done automatically via drip irrigation. Once the system is set up, planting and picking stuff for a single family isn't all that hard.

    Last edited by mordko; 2017-01-07 at 07:25 PM.

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