# Getting back from Financial Disastor



## getback2life (Jun 5, 2019)

Family of 3, Mid 30 
House hold income close to 160k$

Immigrated to Canada in 2011 and started working from 2013 after university degree.
My wife started working in 2016 with year of mat leave in between. Our son is year old.

I recently lost 17k after Concordia healthcare did 300:1 reverse split. I thought avg down and selling it will 
take away some losses but it didn't turn out good for me. Now I own 10 share of that company worth 250$ and my 17,000 TFSA room gone.
Reason for joining this group is so I can be focus on saving and getting to my goal after this financial disaster. It really took toll on me. I will stick to passive investing now.

Liabilities : Mortgage of 366,000 
:HELOC:10,000 with 3.95%


Home assessment value:520,000
RRSP1:48,422.12
RRSP2:5236
WIFE TFFSA:20,928
MY TFSA:1889.25
RESP:4644:49
HISA:15,000 (Emergency fund)
WIFE RRSP:25,000
Saving Account:9,000



HBP loan:24,500



Income after RRSP deductions:8100 $




Expenses :

Mortgage:1755
Day Care:1300
utilities:400
grocery:400
Taxes:287
insurance for 2 cars and home:315
Downtown parking:150
Gas:150
Online courses:65$
cell phone:50
Misc:500 (trips, purchases, travel fund)
Son RESP:250
life insurance:90$

Total:5812$



Goal for next 6 month: Pay off HELOC in 5 month time 


increase Wife TFSA by 2,200


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