two incomes become one income with two young kids , are the goals still achievable? - Page 2
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Thread: two incomes become one income with two young kids , are the goals still achievable?

  1. #11
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    I am worry about I could not have a good shape for keeping up with them. but really enjoy in companying with them at every moment


  2. #12
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    Walksing,

    You and your wife are doing VERY WELL financially.

    Personally, I'd focus on the debt from here on out. You never know what might happen to your high income, human capital, other. Hopefully nothing of course!

    Once your liabilities are gone in the coming years, you will have more than "enough" to fund your dreams and if you get really bored, you can always consult/work part-time as you please.

    Keep up the good asset building. Impressive to say the least.
    Hidden Content - Working on a $1 million portfolio and $30k per year from it.

  3. #13
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    Quote Originally Posted by My Own Advisor View Post
    Walksing,

    You and your wife are doing VERY WELL financially.

    Personally, I'd focus on the debt from here on out. You never know what might happen to your high income, human capital, other. Hopefully nothing of course!

    Once your liabilities are gone in the coming years, you will have more than "enough" to fund your dreams and if you get really bored, you can always consult/work part-time as you please.

    Keep up the good asset building. Impressive to say the least.
    thank you ! your blog is on my must-read list. I agree I will be working on debt reduction or consolidation .

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  5. #14
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    2017 monthly update #1
    April 30, 2017
    Passive income from investment account :

    Dividends & Interests received in April : $2755
    Option trade income ( expired or close out in April) :$3448


    Year Total passive income from investment accounts:

    2016 $25146
    2017 $24988
    2018
    2019
    2020


    working toward to consolidate investment portfolios:
    diversify dividend growth investment and & indexing

  6. #15
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    Quote Originally Posted by Walksing View Post
    yes, my wife is working on the will now ;
    our kids are young, we max out RESP on the first day every year ;
    Family TFSA has two accounts , each one has roughly $40K
    $352K LOC is for the joint unregistered account we have recently consolidated . the borrowing cost is tax deductible
    Good stuff ! I would simply be sure not to call a TFSA "family" because it's an individual account.

    For the LOC, as long you keep adequate documentation showing the inflows/outflows of funds tha tthe LOC is only used for unregistered investments, it should stay deductable. One issue is if an investment has return of capital (ROC), which can be messy.

  7. #16
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    What kind of rent are you getting on the condo and house? Given the size of the mortgage, and the fact the condo will have condo fees, are you cash flowing any reasonable amount?
    Selling them and investing the proceeds could easily get you $750 cash flow per month which I suspect is more than you are cashflowing from both properties. Combined with the potential for long term appreciation in equities vs the likely stagnation or drop in home values, and no risk of having to renew mortgages at 1-4% higher interest rates....

  8. #17
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    Hi nobleea, we don't have free cash flow since we dropped the rent last May 2016 . selling and investing the proceeds ( maximum ~$120K after all the sell cost) is hard to generate $750 by my calculation. we dropped the plan to buy another rental property due to the facts you pointed out. the current plan is hold the property for now mainly for investment diversify and tax efficiency .

  9. #18
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    Manulife whole life insurance for husband and wife : 138K contributed ($1M coverage for two, needs another $ 90K in next 4 years to pay out )
    Curious what is it?

  10. #19
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    Manulife whole life insurance is Performax Gold policy that we bought in 2011. one of the features of this policy is to get the bank loan against the policy as the retirement income.
    it is not very popular, "most investment guru" suggest buy "term" rather than "whole life.

  11. #20
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    Quote Originally Posted by Walksing View Post
    Manulife whole life insurance is Performax Gold policy that we bought in 2011. one of the features of this policy is to get the bank loan against the policy as the retirement income.
    it is not very popular, "most investment guru" suggest buy "term" rather than "whole life.
    Still don't get it...but I wouldn't never buy anything voluntary from any insurance company, all of them cheaters


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