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Thread: Could I be doing more?

  1. #11
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    I de

    Last edited by showmethemoney45; 2015-03-14 at 03:51 PM.

  2. #12
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    Quote Originally Posted by BoringInvestor View Post
    Currently between your RRSP and stocks you DRIP, you're putting in $750 / month into your investment accounts, correct?
    Are you looking for advice on how to find room in your budget to increase that amount - if so we'd need to see your budget.
    Are you looking for advice/ideas on how to invest these funds - if so we'll need to know details about what exactly you're invested in.
    Yes, thats correct.
    I want advice on how to be richer....thats right I said it. I want to be rich. I love what money can buy. Security/peace of mind/education/designer jeans etc. I wouldn't kill anyone over it but seeing as this is an anonymous internet site I can be honest. Thats why we're all here.

  3. #13
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    Quote Originally Posted by showmethemoney45 View Post
    I definitely know we could be saving more. Our kids daycare costs $1700/month, house/utiliies are roughly $3000/month, $2000/m investing....jesus...where is the rest going? I guess we're having too much fun? Trips, flames games, new tvs are really adding up. We probably take home $15000/month (not including the rental income).
    So, that leaves over half of your $15,000/month unaccounted for. If you don't now where all of your money is going, it's hard to know where you can cut. I would suggest tracking ALL spending for a few months. Once you know where your money is going, you will be in a better position to decide what you can cut back on or cut out completely.

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  5. #14
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    I think you guys are making great incomes, but have no idea where you are spending.

    $8k a month is ALOT of discretionary income. Figuring this out would be your biggest impact.

  6. #15
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    We download our chq acc and credit card accs from our on-line banking into excel and group expenditures that way. Not sure if that could work for you. The great thing is that you are young, have great incomes and are now focused on 'paying yourself first'. Financial independence is definitely do-able. Remember expenses and savings will change over the years, for example the kids will be in school all day before you know it, then maybe daycare costs will go to paying off the house, etc.
    Last edited by OnlyMyOpinion; 2015-03-04 at 07:58 PM.

  7. #16
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    Quote Originally Posted by nobleea View Post
    Better, but that's still a cap rate of between 1-2.5%, which is extremely low. Investors might want 4-5% or more.
    You could sell the rentals and with your equity (600K) buy an REIT and pull in the same net income with no work.
    Is this really an ROI of 1-2.5%? We only invested maybe 50K of our own money to leverage 2M in real estate. Therefore isn't it more like 40-100% ROI?

  8. #17
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    Quote Originally Posted by showmethemoney45 View Post
    Yes, thats correct.
    I want advice on how to be richer....thats right I said it. I want to be rich. I love what money can buy. Security/peace of mind/education/designer jeans etc. I wouldn't kill anyone over it but seeing as this is an anonymous internet site I can be honest. Thats why we're all here.
    How do you know when you're rich enough?
    What's your end goal?
    Couch potato journey-Hidden Content .
    Child's RESP-Hidden Content .

  9. #18
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    Quote Originally Posted by BoringInvestor View Post
    How do you know when you're rich enough?
    What's your end goal?
    Thats a really hard question...
    The things I dream for are as follows:

    New house 2.5M (inflated cost 10 years from now)
    cabin 250k (price now)
    Condo 400k (for my parents when then get old)
    kids RESP etc 200K

    =3.35M
    Think this is possible in the by the time we're 45? (10 years from now)

    Obviously these are my dreams and I could definitely be happy with far less as long as I have my family. Just wondering how achievable these dreams are? I think my husband and I would still like to work after 45 (even if we had the option) but maybe just not as much or do something else.

  10. #19
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    Quote Originally Posted by showmethemoney45 View Post
    Is this really an ROI of 1-2.5%? We only invested maybe 50K of our own money to leverage 2M in real estate. Therefore isn't it more like 40-100% ROI?
    It's not ROI. Cap rate is used to quantify whether a rental is a good one. ROI is based on how much you invested. ROI will vary wildly depending on how much you've leveraged, but cap rate will not. You can leverage in stocks too if that's what you like. A 600K stock portfolio in a margin account could probably be levered 2:1. I'm not sure exactly what the margin ratios are on REITs.

  11. #20
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    Quote Originally Posted by showmethemoney45 View Post
    Thats a really hard question...
    The things I dream for are as follows:

    New house 2.5M (inflated cost 10 years from now)
    cabin 250k (price now)
    Condo 400k (for my parents when then get old)
    kids RESP etc 200K

    =3.35M
    Think this is possible in the by the time we're 45? (10 years from now)
    Of course they're possible, but you haven't included some important information. Do you want all those properties to be paid for? Do you want XX of passive income to pay for all the maintenance and taxes on those? Are you still wanting to work? Both of you? Given your incomes now, and assuming they are safe, then buying all that stuff wouldn't be a problem at all.


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