A New Chapter - Tracking Progress
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Thread: A New Chapter - Tracking Progress

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\r\n Hey thanks for the reply. Ya kinda glad I didn\'t move haha.
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\nI\'m sorry I didn\'t make it more clear... the layout of the communities isn\'t obvious to people who don\'t live here. Aylmer could be thought of as a suburb of Ottawa but it\'s just over the QC border. I actually work in Ottawa, close to downtown. Living in Aylmer I must have a car due to the commute, which is about 45 minutes. Busing would take 1.5 hours.
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\nWhere I live is very nice and cheap but it\'s also a bit far from shops. I can\'t walk to anything.
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\nIf I moved to DT Ottawa, I\'d pay more in rent but save on everything else. If I moved to certain areas I could walk or bike to work in the summer and bus in winter (bus commute would be less than now for sure... 15-20min I\'d guess). Plus I could walk or bus to shops.
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\nCar is probably worth more. I\'d be hoping for 10k but being conservative with my 8k estimate. I have family in Ottawa to help with the move.
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\nNot saying it\'s a guaranteed good decision, but thinking about it. I\'d like to not live so far from everything, and having a car in DT Ottawa would be stupid (insurance and parking expensive there). So it\'s either stay where I am or move to DT and sell the car. Financially it seems DT is better and to your point I don\'t think I\'d seriously impact my convenience on most days. And in a pinch, for around $40 I could use car sharing like VRTUCAR twice a month for things like groceries or vet visits.\r\n
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    \r\n In that case I think moving is an excellent idea!\r\n
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    \r\n Yes dating is one of the biggest issues. In cities like TO, it\'s very common to not own a car and transit is pretty good. Friends who live there tell me it\'s common for dates to be expecting public transit.
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    \nOttawa is a bit different. We have no subway or light rail to speak of. While the buses do reach everywhere in the city, it\'s not exactly quick if you live in one of the further suburbs. Most dates take place downtown from my experience, and most people automatically take responsibility for their own travel (at least on the first date or first few). So living downtown it could be workable, but perhaps not completely ideal. Then again, living where I do can be inconvenient for dating too... it\'s a 25m drive minimum to the city, and possibly 35-45 if they are on the other side. Not super ideal for spending the night.
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    \nBut I agree. Dating is definitely better with a car. Is that a good reason to keep it though?\r\n
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    \r\n Probably not.
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    \nIn your early 20s as long as you have some wheels it is a big plus with the ladies. But a shitty car into your 30s is probably a liability. If it\'s not an expensive looking sports car, import, truck, or 4x4 you might as well go car-less. At least then you can be a bit mysterious about yourself and your urban lifestyle. Maybe play up the helping-the-environment aspect with the hippier chicks? Nothing screams "no second date" to an attractive young woman like a man in his 30s with a 5-15 year old fuel efficient sedan... If that\'s what you\'re dealing with it\'s probably best to go car-less, or just hide the car out of sight until you\'ve sealed the deal...\r\n
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    \r\n Quote Originally Posted by peterk\r\n View Post\r\n
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    Probably not.
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    \r\nIn your early 20s as long as you have some wheels it is a big plus with the ladies. But a shitty car into your 30s is probably a liability. If it\'s not an expensive looking sports car, import, truck, or 4x4 you might as well go car-less. At least then you can be a bit mysterious about yourself and your urban lifestyle. Maybe play up the helping-the-environment aspect with the hippier chicks? Nothing screams "no second date" to an attractive young woman like a man in his 30s with a 5-15 year old fuel efficient sedan... If that\'s what you\'re dealing with it\'s probably best to go car-less, or just hide the car out of sight until you\'ve sealed the deal...
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    Ya, I\'d say it\'s an attractive car (2010 Kia Forte SX - high trim model with leather seats). Also decent on gas, so it sort of fits various needs. I enjoy the freedom of a vehicle for sure, so I\'m still thinking about it. But I\'m honestly not enjoying living so far from the city and my friends (30 minutes) and family (45-70 minutes). It also makes going out with friends/dates annoying, since everything takes place within the city and I always have the account for commuting time.
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    \r\nFinancially I\'d be nice to get a chunk of money for the car, especially if I can also save going forward (even breaking even might be worth it). I enjoy public transit and do believe in using it when one can (would love to bike/walk to work too). I suppose I\'m struggling also with the lifestyle decision of giving up the car, since financially it seems to make perfect sense.\r\n
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    \r\n Went to NYC in April as planned so only saved about $500 that month, but expect to put at least $1000 away from pay cheque next week. Switched dog food to save $20 per month and was approved for OT at work. Should bring in an extra $1500 between now and September working OT. I also got more information about my potential for raises at work. I am basically guaranteed a bonus of at least $1000 in April next year (more likely $1500, but can go into the $2000s or 3000s). I\'m also working hard to stand out (and succeeding) so I can earn a great performance review, which should come with a 6-8% raise.
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    \nStill considering the move, but close to pulling the trigger.
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    \nI found a beautiful new apartment building in the perfect location. It has every amenity I want and is the type of place I could see myself rent for years (until I decide I may want to buy again). Downside is the rent would be $1280 with utilities, or 48% of my net income. The funny thing is, my expenses would stay the exact same - the money saved from car expenses (gas, insurance, parking) + income tax savings would cancel out the higher rent. I\'d spend the same after the move as before. Little disappointing because I\'d hoped to save monthly by moving, but I\'m attracted to the major lifestyle upgrade of the location AND the building itself. The other options in downtown Ottawa have been seriously underwhelming. Either the cost is nearly the same ($1100-1200) and not nearly as nice or perhaps $200 cheaper monthly, but rundown piles of junk. Lots of good \'deals\' on century homes for around $1000, but they are often poorly maintained, kind of gross and not at all appealing for the long-term. I\'d rather not be looking to move again next year due to unhappiness with my place. I\'m currently not splurging on anything really, and I\'m feeling like perhaps spending a bit more to be truly happy with my living situation would be an OK financial sacrifice.
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    \nI know it\'s generally not smart to have such a high portion of income for rent, but my other expenses are quite low. Even with rent at $1280, my total fixed monthly expenses would be around $1500 (about $1575 now). I\'ve currently reduced my spending and changed my habits (ie. food) and can continue saving 30%+ of net income after the move (higher during OT months).
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    \nOf course the move would still involve selling the car and using the profit to complete my EF and begin investing later this year.
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    \nShould I?\r\n
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    \r\n \r\n Last edited by motl; 2015-05-28 at 09:06 PM.\r\n \r\n \r\n
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    \r\n First real update in a while. I ended up moving downtown July 1st and am quite happy so far. My rent is expensive and I\'ve yet to sell my car (will be gone by end of the month), but my building is amazing and I love being so central. My total housing + transportation costs are equal to what I was paying before, but the percentage going to rent vs transportation is much higher now. Doing a lot more walking and debating buying a bike this summer instead of waiting until next year as planned.
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    \nNo funds from the car yet, but still adding to savings as I also got approved for some OT this summer. Worked some OT in June, but doing even more in July (9-10 hours of OT per week). All together, if OT is extended through August, I should end up adding about $2500 net income from OT this summer. All planned major expenses for the year have been paid for except a vacation in Sept, which I\'ll keep between $500 and $800.
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    \nLiabilities
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    \nSavings
    \nEmergency Fund: $3000
    \nPension: $1600
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    \nNew Projected Targets for 2015
    \nEmergency Fund: $5000
    \nInvestments: $7500
    \nPension: $~3500
    \nTotal by December 2015: $16000\r\n
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    \r\n Absolutely right about Costco. I go there for very specific items that I buy in bulk to save. I don\'t buy meat or similar things because they aren\'t actually cheaper. I\'m always breaking out my phone to compare prices to regular stores.
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    \nThe big saver is protein powder. The brand I buy there is significantly cheaper than competitors. On just that alone I\'ll pay off the membership every year. Until now I\'d been tagging along with family when they went but it\'s a hassle. Girlfriend and I are splitting membership so it\'ll pay for itself very quick for me.\r\n
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    \r\n Quick update to end month as bonus was paid.
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    \nLiabilities
    \nDebt: $0
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    \nAssets

    \nEmergency Fund: $5000
    \nInvested TFSA: $10,100
    \nPension: $5150
    \nTotal Net Worth: $20,250
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    \nSmall little milestone there! I should be able to hit $30,000 net worth this year no problem, and $50,000 next year if everything holds as is.
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    \nThe pension is through Sun Life and is invested in a target date retirement fund - 95% stocks, I think breakdown is 30% US, 30% Canada, 30% international, 5% bonds, etc.
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    \nThe invested TFSA is currently in Tangerine\'s balanced growth fund (75% stock, 25% bonds). I plan to move to a better investing solution once I have $25,000+ invested (early 2017).\r\n
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    \r\n Will be out of town at the end of the month so posting an update now. Below are projected based on current numbers, last pay cheque of the month and known/expected expenses.
    \n
    \nLiabilities
    \n Debt: $0
    \n
    \n Assets
    \n Emergency Fund: $5000
    \n Invested TFSA: $15,300
    \n Pension: $6700
    \n Total Net Worth: $27,700
    \n
    \nIt\'s possible I\'ll hit $30,000 net worth in August or September, and should pass $20,000 in my invested TFSA shortly after.
    \n
    \nAlso very pleased to have found my current girlfriend. She makes slightly more than me and is slightly more liberal with spending on very specific things (ie. food) but we\'re both on the same page. Her net worth is about the same as mine right now, although she\'s also building up a federal government pension as well. Ironically, having a girlfriend who shares my values and approach to money has made me relax a bit with my spending. Nothing major, but dates are more fun and less stressful financially because I know that even if we spend a bit of money, we\'re both in great shape and constantly making progress together and individually.\r\n
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    \r\n \r\n Last edited by motl; 2016-06-21 at 01:32 PM.\r\n \r\n \r\n
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  • \r\n'; pd[1232602] = '\r\n
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    \r\n No numbers update for now, but got some great news today.
    \n
    \nI received a promotion back in April after I applied for a position in a different department. Since then I\'ve sort of redefined the position and actually began completing the responsibilities in the job posting over 3-4 days per month while the rest of the days are spent on projects that the previous person in my position could not have completed.
    \n
    \nAnyway, today my boss randomly says he needs to meet with me. Turns out he\'s offering me a promotion into a position above my current, with more direct client interaction and significant increases in salary and perks.
    \n
    \nEffective last Friday: Salary goes from ~$50,000 to $60,000 & will be assigned a company car & eligible for an additional annual bonus
    \n
    \nThe icing is that I\'ll actually continue my current responsibilities until July next year when these projects end, but raise and perks begin now. My boss and his boss have been impressed enough that they offered me a promotion with a raise to keep doing the same work when they could have just waited until next year. So needless to say I was shocked and appreciative.
    \n
    \nI started at this company in March 2015 making $45,000 and in less than 1.5 years I\'ve moved to $60,000. Very excited about the extra savings/investment potential moving forward!\r\n
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  • \r\n'; pd[1282538] = '\r\n
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    \r\n Time for an update here. August-Sept were a bit expensive, although much of it was planned due to a road trip to Boston. No more major spending for the year and a triple pay in December means I should finish way beyond my original goal (~$27,000 net worth).
    \n
    \nWill be working some OT to help my girlfriend pay for her dog\'s surgery. We consider them our dogs since moving in together, and his surgery is going to be about $2000. She has an emergency fund to cover it and refuses to take my money, but I\'m going to force her to take at least $500 (covered by OT).
    \n
    \nAnother net worth milestone down. New goal is $35k by end of the year, which is pretty conservative.
    \n
    \nLiabilities
    \nDebt: $0
    \n
    \nAssets
    \nEmergency Fund: $5000
    \nInvested TFSA: $19,000
    \nPension: $8400
    \nTotal Net Worth: $32,000\r\n
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  • \r\n'; pd[1295586] = '\r\n
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    \r\n Liabilities
    \n Debt: $0
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    \nAssets
    \n Emergency Fund: $5000
    \n TFSA (invested with Tangerine Balanced Growth): $20,000
    \n Employer RRSP (invested in Sun Life 2050 target fund): $2650
    \n Pension (invested in Sun Life 2050 target fund): $5900
    \n Total Net Worth: $33,500
    \n
    \nChanged the way the pension stuff is listed, since technically it\'s 2 different funds. Later in 2017 I plan to transfer my TFSA investments out of Tangerine to something more appropriate now that the portfolio has grown to a reasonable size.
    \n
    \nExpenses look good for the next little while, except that I need to see a chiropractor and my health plan coverage for that is pretty weak. But, fortunately, I am about to do overtime at work and can use that to compensate. I\'m lucky because my current role/department doesn\'t offer OT, but my old department (pre-March 2016) is understaffed and way behind on its work so I\'ve been given a blank cheque to do OT working on their tasks, pretty much until they hire enough staff and get caught up. Not doing as much right now as I used to, but it\'s nice to have to cover off random expenses or pad savings before the holidays.\r\n
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    \r\n Liabilities
    \nDebt: $0
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    \nAssets
    \nCash: $100
    \nEmergency Fund: $5000
    \nTFSA (invested with Tangerine Balanced Growth): $21,000
    \nEmployer RRSP (invested in Sun Life 2050 target fund): $2760
    \nPension (invested in Sun Life 2050 target fund): $6160
    \nTotal Net Worth: $35,000
    \n
    \nAnother minor milestone down!
    \n
    \nAlso, just heard today that a candidate I referred at work is being hired. My referral reward will be $2500, so pretty stoked about that. A chunk of it will go towards refreshing my work wardrobe though, but still a nice windfall.\r\n
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  • \r\n'; pd[1359122] = '\r\n
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    \r\n Liabilities
    \nDebt: $0
    \n
    \nAssets
    \nCash: $140
    \nEmergency Fund: $5000
    \nTFSA (invested with Tangerine Balanced Growth): $23,000
    \nEmployer RRSP (invested in Sun Life 2050 target fund): $2895
    \nPension (invested in Sun Life 2050 target fund): $6495
    \nTotal Net Worth: $37,500
    \n
    \nStill making good progress, despite spending on work clothes this past month.
    \n
    \nMy employee referral bonus gets paid next pay cheque and it\'s also a 3x pay month. I\'m expecting to be able to put the majority of it into investments for a nice boost there.
    \n
    \nVery exciting that I should end up hitting $40,000 net worth by end of year. On page 3 I stated that my goal for 2016 was $27,000. Since planning that goal, I\'ve moved in with my girlfriend (significant savings on rent) and received $13,000 in raises. Should also be eligible for two bonuses paid out in the spring. Not sure of the value, but expecting $2000-3000 combined after tax. I\'ll be putting most or all of that to pay for my annual big vacation, which is great because that trip won\'t interrupt my monthly savings.
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    \nNext month I\'ll look over my finances and get an idea of where I hope to be in 2017. Very happy to see that the race to my first big milestone ($100k) is coming up much quicker than originally anticipated.\r\n
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  • \r\n'; pd[1362769] = '\r\n
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    Location
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    \r\n Great work Motl,
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    \nYou\'re making great progress. You\'ve crushed your goal of 27G!\r\n
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  • \r\n'; pd[1368441] = '\r\n
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    \r\n Quote Originally Posted by Steve Divi\r\n View Post\r\n
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    Great work Motl,
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    \nYou\'re making great progress. You\'ve crushed your goal of 27G!
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    Thanks Steve. Incredibly pleased with how this year progressed and optimistic about 2017. Pretty confident that I\'ll get some decent bonuses in the spring, and optimistic that I can get a decent raise (4-7%) based on my performance and current salary for the position I\'m in. Additionally, my manager and I are currently pitching a framework model that would standardize a workflow we\'ve developed locally and apply it to the region. He\'s insisted my name stay on it and if things go as he hopes, my responsibilities will shift significantly and my role will need to be redefined as the position doesn\'t currently exist. Hoping if it all works out that will come with another raise. But will see.
    \n
    \nEven if nothing major happens, I\'m very optimistic about 2017. My net worth in Dec 31 2015 was about $15,000 and one year later I expect it to be over $40,000. Given that I received my big raise only in August, I\'m pretty excited about pushing for $70,000+ next year.
    \n
    \nUpdate for Nov below. Have an extra pay in Dec but obviously Christmas too. Likely won\'t update again until final pay of 2016. Thanks to those who have contributed here - it\'s been a fun journey so far! It\'s also great being able to share details and successes here. My girlfriend and I are open about our finances and cheer each other on, but I keep all this quiet from everyone else I know.
    \n
    \nLiabilities
    \n Debt: $0
    \n
    \nAssets
    \n Cash: $50
    \n Emergency Fund: $5000
    \n TFSA (invested with Tangerine Balanced Growth): $24,300
    \n Employer RRSP (invested in Sun Life 2050 target fund): $2970
    \n Pension (invested in Sun Life 2050 target fund): $6685
    \n Total Net Worth: $39,000
    \n
    \nAlso thought I\'d update my expenses for anyone interested.
    \n
    \nRent: $735
    \nHydro: $50 (should be lower in winter months)
    \nPhone: $56
    \nInternet: $30
    \nNetflix/VPN: $17
    \nDog: $80
    \nInsurance: $7
    \nGym: $56
    \nTotal: $1031
    \n
    \nI allocate $200-300 per month for food and entertainment, so let\'s round up to $1400 total for monthly budget. Works out to ~$17,000 per year. Net income is about $44,000 so assuming everything holds next year and I pay for vacations out of bonuses, I\'m looking at around 55-60% savings rate minimum.\r\n
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    \r\n Will update final numbers at end of month, but quite pleased with where I stand. A bit concerned that I\'ll owe during tax season but will see.
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    \nOpened a Questrade account last night but haven\'t funded it yet. At end of year I\'ll have around $27,000 in my Tangerine invested TFSA and strongly considering moving it to Questrade. Not sure if I have enough invested yet to really make it worthwhile though. Should I wait until end of 2017 when it\'ll be $50,000+?\r\n
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    \r\n Most of the ETF in ques-trade are free..But you need atleast minimum 1000$ to purchase.
    \nAnd they charge commission for selling.\r\n
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    \r\n Quote Originally Posted by gladaki\r\n View Post\r\n
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    Most of the ETF in ques-trade are free..But you need atleast minimum 1000$ to purchase.
    \nAnd they charge commission for selling.
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    Right. I typically add to my investments once every month, although sometimes more often. I\'ve looked at Questrade and it seems like a good solution that will help improve my returns long-term.
    \n
    \nMy only uncertainty is rebalancing. Is it typically easy enough to \'rebalance\' through purchases instead of having to sell X to buy more Y? Obviously selling to rebalance has a downside due to the commission fees, but if it can be avoided most of the time then I wouldn\'t be too concerned. I\'ve also read that some people contribute every quarter instead of every month, to make it easier to rebalance through purchases. Not sure if doing that make sense?
    \n
    \nI need to decide before end of 2016. If I am moving to ETFs then I need to withdraw my Tangerine portfolio out of TFSA so I need to decide pretty soon.\r\n
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    \r\n Quote Originally Posted by motl\r\n View Post\r\n
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    I need to decide before end of 2016. If I am moving to ETFs then I need to withdraw my Tangerine portfolio out of TFSA so I need to decide pretty soon.
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    I\'d leave the Tangerine as-is. Start putting new funds into Questrade in 2017 (how much room you got? $5,500 at least..) and use that money/time in 2017 to choose your plan and ETFs.
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    \r\nThen if you\'re happy with how Questrade is working, move everything out of Tangerine at end of 2017.\r\n
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    \r\n Quote Originally Posted by peterk\r\n View Post\r\n
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    I\'d leave the Tangerine as-is. Start putting new funds into Questrade in 2017 (how much room you got? $5,500 at least..) and use that money/time in 2017 to choose your plan and ETFs.
    \n
    \nThen if you\'re happy with how Questrade is working, move everything out of Tangerine at end of 2017.
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    Total TFSA contribution right now is around $26,000 but should be closer to $27,000 at the end of the month. So still lots of room total.
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    \nConsidering your idea, to split the investments for 2017. I plan to do CCP so the Questrade portfolio shouldn\'t be too hard to get going. Still debating if I\'ll move everything now though.\r\n
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    \r\n Quote Originally Posted by motl\r\n View Post\r\n
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    Still debating if I\'ll move everything now though.
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    I think you might be too late FYI - You\'d need to sell your shares, have them settle, (3 days) then still transfer the funds out of Tangerine (1-2 days). I\'m not sure if Tangerine funds have a settlement time though since they aren\'t on an exchange? Even if its technically still doable by selling right now, you might have an argument with CRA and phone calls to make in your future if it doesn\'t work out smoothly...
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    \r\nSee:
    \r\n-Last-Trading-Day-for-2016-Tax-Loss-Selling\r\n
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    \r\n You\'re probably right at this point.
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    \nI\'ll likely just start contributing to QT and if I feel happy with it I can always shift the rest at the end of 2017. Could always transfer it during the year too since QT would cover the fee - just seemed like a hassle though.\r\n
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    \r\n Quote Originally Posted by motl\r\n View Post\r\n
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    Right. I typically add to my investments once every month, although sometimes more often. I\'ve looked at Questrade and it seems like a good solution that will help improve my returns long-term.
    \n
    \nMy only uncertainty is rebalancing. Is it typically easy enough to \'rebalance\' through purchases instead of having to sell X to buy more Y? Obviously selling to rebalance has a downside due to the commission fees, but if it can be avoided most of the time then I wouldn\'t be too concerned. I\'ve also read that some people contribute every quarter instead of every month, to make it easier to rebalance through purchases. Not sure if doing that make sense?
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    \nI need to decide before end of 2016. If I am moving to ETFs then I need to withdraw my Tangerine portfolio out of TFSA so I need to decide pretty soon.
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    Yes it\'s very easy to rebalance through purchases. You won\'t always be 100% balanced, but just always direct your new money to whichever ETF is most below its desired allocation, and you will keep in pretty good balance.\r\n
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    \r\n Good advice Spudd. Exactly what I have done over the years, buy what\'s out of favour or below desired allocation, including stocks and ETFs. Then hold.\r\n
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    Hidden Content - Working on a $1 million portfolio and $30k per year from it.
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    \r\n Liabilities
    \n Debt: $0
    \n
    \nAssets
    \n Cash: $1000
    \n Emergency Fund: $5000
    \n TFSA (invested with Tangerine Balanced Growth): $26000
    \n Employer RRSP (invested in Sun Life 2050 target fund): $3200
    \n Pension (invested in Sun Life 2050 target fund): $7115
    \n Total Net Worth: $42,300
    \n
    \nAs mentioned before, my original goal for 2016 was $27,000 NW. Blew it out of the water due to promotions and reduced expenses.
    \n
    \nMy performance review is coming up soon at work and any raise I received will begin around February I believe. I\'ll also likely have 1-2 bonuses coming near the end of March. I\'m planning a trip to India for March (~$2500) which I expect to be most covered by the bonuses. Not sure what my raise will look like so right now I\'m cautiously looking forward based on current salary and spending. Salary will likely rise though and spending could fall if/when my girlfriend and I move in the spring (getting unexpectedly shit on by Hydro).
    \n
    \nWith my current salary, I will add about $6000 in contributions to RRSP/pension in 2017. My investing goal will be about $2000 per month averaged over the 12 months. That means that I\'m hoping to hit minimum $70,000 NW next year, but with raises and potential OT opportunities I think $75,000 is realistic.
    \n
    \nThanks for following along so far. Pretty stoked that $100,000 is coming up within the next ~2 years and am extremely content/happy with how things are progressing. 2016 was a great year so hopefully the momentum continues. Will also be moving my portfolio over to Questrade at some point in 2017 to maximize returns there.\r\n
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  • \r\n'; pd[1482538] = '\r\n
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    \r\n motl\r\n \r\n
    \r\n motl is offline\r\n\r\n \r\n
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    Join Date
    Mar 2014
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    Posts
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    \r\n
    \r\n Liabilities
    \n Debt: $0
    \n
    \nAssets
    \n Cash: $0
    \n Emergency Fund: $5000
    \n TFSA #1 (invested with Tangerine Balanced Growth): $26500
    \n TFSA #2 (invested with Questrade): $3100
    \n Employer RRSP (invested in Sun Life 2050 target fund): $3900
    \n Employer DCPP (invested in Sun Life 2050 target fund): $8100
    \n
    \nNet Worth: $46,600
    \n
    \nOff to a good start here and should pass up my next big milestone ($50k) in March when my bonus is paid. The above numbers include a vacation I just returned from. Ditched the India trip I mentioned previously and instead spent just over 2 weeks traveling around Mexico. Spent about $1600 (flights, accommodations, spending money, kennel for dog). Had fun and pleased it was so cheap. My bonus gets paid in March and should repay what I spent on the vacation, and hopefully more to invest. No big purchases coming up and likely moving in May to reduce living expenses further.
    \n
    \nStill waiting to hear about my raise. It should be announced next week and take effect in April.\r\n
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    \r\n \r\n Last edited by motl; 2017-02-23 at 10:57 AM.\r\n \r\n \r\n
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  • \r\n'; pd[1494826] = '\r\n
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    Join Date
    Mar 2014
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    \r\n Looks like girlfriend and I found new home.
    \n
    \nCurrent rent is $1475 + hydro for a 2 bedroom unit in a quasi-duplex. Not sure on total square feet, but it\'s not much bigger than a standard 2 bedroom apartment. We\'ve had some issues here, and hydro is out of hand ($100 in summer with no AC, $140 in winter with gas heat). With average hydro factored in, all-in rent is nearly $1600.
    \n
    \nNew townhome rent is $1260 + hydro and gas. We\'re expecting $150-200 for utilities, so budgeting around $1450 total for new place. Means we should each save about $75 per month. We are moving mid-April and paying half of April at both places, so each will pay out an extra ~$350 so it\'ll be a few months before we\'re coming out ahead.
    \n
    \nBut new place has everything we need. Proper yard for dogs, big basement for storage, close to 900 square feet of living space, etc. A little bummed we couldn\'t find something with bigger savings, but it seems this is our best option. And every bit of savings helps, plus the bonus to quality of living.
    \n
    \nShould know my raise in a few days too.\r\n
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    \r\n \r\n Last edited by motl; 2017-03-04 at 01:10 PM.\r\n \r\n \r\n
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  • \r\n'; pd[1500953] = '\r\n
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    \r\n motl\r\n \r\n
    \r\n motl is offline\r\n\r\n \r\n
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    Join Date
    Mar 2014
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    Posts
    99
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    \r\n Liabilities
    \n Debt: $0
    \n
    \nAssets
    \n Cash: $0
    \n Emergency Fund: $5000
    \n TFSA #1 (invested with Tangerine Balanced Growth): $26765
    \n TFSA #2 (invested with Questrade - VAB 10% VCN 30% XAW 60%): $4560
    \n Employer RRSP (invested in Sun Life 2050 target fund): $3975
    \n Employer DCPP (invested in Sun Life 2050 target fund): $8315
    \n
    \nNet Worth: $48,600
    \n
    \nOn the home stretch to 50k. Right now I\'m funneling everything into Questrade with the above allocation. I should hit my TFSA cap in late 2017 or early 2018, at which point I\'ll open an RRSP. Pleased with how this year has started given that I\'ve already taken a vacation.
    \n
    \nOn a bad note, my annual raise came in lower than expected at 2.85% (about $40 net every 2 weeks). New CEO made cuts and raises were limited this year. Still have bonuses coming at the end of the month, which should put me over the 50k milestone.
    \n
    \nOn a good note, I won a door prize at an industry event - a $2000 gift certificate for Air Canada Vacations. So looks like next vacation will be stress free money wise! Also still have the second half of an employee referral bonus coming in May ($850).
    \n
    \nBelow is expected expenses once I move next month.
    \n
    \nMonthly
    \nIncome: $3475 (I\'m paid biweekly so this number excludes the 2 extra pay cheques per year, which I keep out of general expense planning)
    \nRent: $630
    \nUtilities: $75-100 (estimated)
    \nInsurance: $7
    \nGym: $55
    \nPhone: $55
    \nInternet: $40
    \nDog: $80
    \nNetflix/VPN: $15
    \nFood/Fun: $300
    \n
    \nRemainder to be invested: ~$2100-2200
    \n
    \nExpenses come in around $15,500 per year based on the above, but that excludes vacations. With them included, it\'s in the area of $18,000.\r\n
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    \r\n \r\n Last edited by motl; 2017-03-09 at 12:01 AM.\r\n \r\n \r\n
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  • \r\n'; pd[1506162] = '\r\n
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    Join Date
    Mar 2014
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    \r\n Finally got notice of bonus yesterday and it was more than I expected. I didn\'t know how my new unit\'s bonus worked but I was remaining cautiously optimistic. Total of the two bonuses is $4500 before taxes.
    \r\n
    \r\nPart of that is paying back my trip to Mexico an another part will go towards rebuilding my business attire wardrobe as I\'ll be in suits much more often beginning this summer. Should still have a bit left over to save/invest though. Pretty pleased as it bumps my expected salary for 2017 to around $67,000.\r\n
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  • \r\n'; pd[1517786] = '\r\n
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    \r\n motl\r\n \r\n
    \r\n motl is offline\r\n\r\n \r\n
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    Join Date
    Mar 2014
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    Posts
    99
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    \r\n \r\n \r\n\r\n\r\n \r\n \r\n
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    \r\n
    \r\n Liabilities
    \n Debt: $0
    \n
    \nAssets
    \n Cash: $150
    \n Emergency Fund: $5000
    \n TFSA #1 (invested with Tangerine Balanced Growth): $26,670
    \n TFSA #2 (invested with Questrade - VAB 10% VCN 30% XAW 60%): $7000
    \n Employer RRSP (invested in Sun Life 2050 target fund): $4225
    \n Employer DCPP (invested in Sun Life 2050 target fund): $8900
    \n
    \nNet Worth: $51,900
    \n
    \nNice, I just knocked off a cool milestone today. Bonus was paid and although I\'ve spent some of it, I was able to dump a good chunk into my investments.
    \n
    \nPleased with beginning of 2017 as I\'ve added ~$10k to my net worth since Jan 1.\r\n
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  • \r\n'; pd[1518538] = '\r\n
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    \r\n peterk\r\n \r\n
    \r\n peterk is online now\r\n\r\n \r\n
    \r\n \r\n Senior Member\r\n \r\n \r\n \r\n \r\n \r\n \r\n
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    Join Date
    May 2010
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    Posts
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    \r\n Nice work on the bonus! You\'re obviously killing it at your job.
    \n
    \nCheck out Suit Supply for ordering a few fly suit that are cheaply priced.
    \n
    \n50k is indeed a good milestone, congrats! 100k feels great too! After 100k it gets kind of boring though... At 300k+ now, money is starting to feel abstract, just numbers on a screen... big swings up or down (multi 10k\'s) barely have any emotional effect at all.\r\n
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  • \r\n'; pd[1518650] = '\r\n
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    \r\n motl\r\n \r\n
    \r\n motl is offline\r\n\r\n \r\n
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    Join Date
    Mar 2014
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    \r\n Quote Originally Posted by peterk\r\n View Post\r\n
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    Nice work on the bonus! You\'re obviously killing it at your job.
    \n
    \nCheck out Suit Supply for ordering a few fly suit that are cheaply priced.
    \n
    \n50k is indeed a good milestone, congrats! 100k feels great too! After 100k it gets kind of boring though... At 300k+ now, money is starting to feel abstract, just numbers on a screen... big swings up or down (multi 10k\'s) barely have any emotional effect at all.
    \r\n \r\n
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    Thanks man. Definitely rewarding watching the numbers climb.
    \n
    \nAnd thanks for the tip. Pretty sure I\'ll be picking up a couple of suits from Spier & Mackay next time they have a sale. I\'ll be in TO next week on business so I can try some on and nail down sizing in advance.\r\n
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  • \r\n'; pd[1555666] = '\r\n
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    \r\n motl\r\n \r\n
    \r\n motl is offline\r\n\r\n \r\n
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    Join Date
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    \r\n Liabilities
    \n Debt: $0
    \n
    \nAssets
    \n Cash: $40
    \n Emergency Fund: $5000
    \n TFSA #1 (invested with Tangerine Balanced Growth): $26,915
    \n TFSA #2 (invested with Questrade - VAB 10% VCN 30% XAW 60%): $8500
    \n Employer RRSP (invested in Sun Life 2050 target fund): $4250
    \n Employer DCPP (invested in Sun Life 2050 target fund): $8975
    \n
    \nNet Worth: $53,650
    \n
    \nDid some personal spending and moved this month, so that slowed the growth a bit. Still managed to add almost $1500 to Questrade investments. Should have an ~$800 employee referral bonus paid at the end of May.
    \n
    \nAbout to step into a new hobby though, which will come with some startup costs.\r\n
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  • \r\n'; pd[1556242] = '\r\n
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    \r\n redsgomarching is offline\r\n\r\n \r\n
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    Join Date
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    \r\n slow and steady wins the race! looking good with the net worth growth. up nearly 2k since your march update! if you keep that up that (estimated) 24k per year after taxed dollars that you can deploy to work for you!\r\n
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  • \r\n'; pd[1556450] = '\r\n
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    \r\n Good work. You are on the right track. I think you are around 31 years old now ? You have good habits for the future.
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    \nQuestion: you moved again? why? How much did it cost?\r\n
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    \r\n Quote Originally Posted by redsgomarching\r\n View Post\r\n
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    slow and steady wins the race! looking good with the net worth growth. up nearly 2k since your march update! if you keep that up that (estimated) 24k per year after taxed dollars that you can deploy to work for you!
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    Thanks.
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    \nI actually opened that Questrade account this year, so the $8500 is invested from this year with a small amount carried from December. That means I\'m averaging about $2000 invested in TFSA each month, plus the employer accounts. Unfortunately the RRSP and DCPP both lost a bit of value in April.
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    \nStill on track for goal of $70,000 net worth by 2018.
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    \r\n Quote Originally Posted by cashinstinct\r\n View Post\r\n
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    Good work. You are on the right track. I think you are around 31 years old now ? You have good habits for the future.
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    \nQuestion: you moved again? why? How much did it cost?
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    Yup, 31.5 now actually.
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    \nYes, I did move again unfortunately. Not planned but it made sense. Since moving last year I was given a company car, which opened up more options for us as we\'d previously tried to stay local to downtown since we biked/walked/bused everywhere. With the car we were able to move a bit outside of downtown and save money. Moreover, hydro costs at our previous place were insane and much higher than the landlord predicted. I\'m talking $150/month in the winter with gas heat, in a small 2 bedroom apartment/unit. It was an old house converted into 2 units, and I suspected somewhere an outlet in the other unit was attached to our meter because no matter how much we tried to conserve, it didn\'t help much. Even while away. Also suspected the ancient appliances were guzzling electricity. Total cost to rent the prior place was nearly $1600/month with utilities.
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    \nNew place is looking like $1310 + Hydro (have our first gas bill but not Hydro yet), so even if Hydro is as high here (which it shouldn\'t be) we\'ll still be saving a good amount monthly.
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    \nGas (car) is paid for by company so moving here doesn\'t change any other expense for me. It\'s a townhouse with much more room and a yard, so it\'s honestly a huge lifestyle upgrade for us. And at a cheaper price. Moving truck cost $80 with some boxes and we had to buy a few small things.
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    \nAll in all, I\'m very happy we did it and finally feel like we\'re in a place we can call home for a few years at least. Should be saving ~$75-150/month each too, which is nice.\r\n
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    \r\n Understood.
    \nChanging rental is typically less costly.
    \nQuality of life is important.
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    \nOne point to watch out is the decoration/painting/while we are at it... you seem to have it under control!\r\n
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  • \r\n'; // next/previous post info pn[385097] = "1558394,385153"; pn[0] = ",385097"; pn[385153] = "385097,385201"; pn[385201] = "385153,385481"; pn[385481] = "385201,385497"; pn[385497] = "385481,385745"; pn[385745] = "385497,399769"; pn[399769] = "385745,630762"; pn[630762] = "399769,665530"; pn[665530] = "630762,664289"; pn[664289] = "665530,664426"; pn[664426] = "664289,665546"; pn[665546] = "664426,664498"; pn[664498] = "665546,664570"; pn[664570] = "664498,665986"; pn[665986] = "664570,666473"; pn[666473] = "665986,668761"; pn[668761] = "666473,706530"; pn[706530] = "668761,746738"; pn[746738] = "706530,778385"; pn[778385] = "746738,1056633"; pn[1056633] = "778385,1088586"; pn[1088586] = "1056633,1182697"; pn[1182697] = "1088586,1232602"; pn[1232602] = "1182697,1282538"; pn[1282538] = "1232602,1295586"; pn[1295586] = "1282538,1310513"; pn[1310513] = "1295586,1359122"; pn[1359122] = "1310513,1362769"; pn[1362769] = "1359122,1368441"; pn[1368441] = "1362769,1390570"; pn[1390570] = "1368441,1392882"; pn[1392882] = "1390570,1393042"; pn[1393042] = "1392882,1393122"; pn[1393122] = "1393042,1395353"; pn[1395353] = "1393122,1396097"; pn[1396097] = "1395353,1396545"; pn[1396545] = "1396097,1393146"; pn[1393146] = "1396545,1393818"; pn[1393818] = "1393146,1399705"; pn[1399705] = "1393818,1482538"; pn[1482538] = "1399705,1494826"; pn[1494826] = "1482538,1500953"; pn[1500953] = "1494826,1506162"; pn[1506162] = "1500953,1517786"; pn[1517786] = "1506162,1518538"; pn[1518538] = "1517786,1518650"; pn[1518650] = "1518538,1555666"; pn[1555666] = "1518650,1556242"; pn[1556242] = "1555666,1556450"; pn[1556450] = "1556242,1556778"; pn[1556778] = "1556450,1558394"; pn[1558394] = "1556778,385097"; // cached usernames pu[0] = guestphrase; pu[279841] = "motl"; pu[40435] = "Spudd"; pu[50790] = "Feruk"; pu[6013] = "peterk"; pu[294609] = "Connie Merrow"; pu[39723] = "mind_business"; pu[179663] = "nobleea"; pu[5158] = "1980z28"; pu[325737] = "Steve Divi"; pu[278788] = "gladaki"; pu[51968] = "My Own Advisor"; pu[319810] = "redsgomarching"; pu[290] = "cashinstinct"; // -->

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    1. #31
      Member
      Join Date
      Mar 2014
      Posts
      99
      Finally got notice of bonus yesterday and it was more than I expected. I didn't know how my new unit's bonus worked but I was remaining cautiously optimistic. Total of the two bonuses is $4500 before taxes.

      Part of that is paying back my trip to Mexico an another part will go towards rebuilding my business attire wardrobe as I'll be in suits much more often beginning this summer. Should still have a bit left over to save/invest though. Pretty pleased as it bumps my expected salary for 2017 to around $67,000.

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