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Viewing profile - Daniel

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Daniel
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Joined: Sun Jun 15, 2008 1:41 pm
Last visited: Sat Feb 04, 2012 9:00 pm
Total posts: 74
[0.08% of all posts / 0.03 posts per day]
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Most active forum: Personal Finance
[ 71 Posts / 95.95% of user’s posts ]
Most active topic: Advice for $5000
[ 5 Posts / 6.76% of user’s posts ]

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Daniel Posts

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 Forum: Personal Finance   Topic: Considering the 15-year mortgage. Is it worth it?

Posted: Sun Aug 21, 2011 7:38 pm 

Replies: 8
Views: 1951


My bad, after doing a quick search I see that mortgages in the US are more different from canadian ones than I thought.

 Forum: Personal Finance   Topic: Considering the 15-year mortgage. Is it worth it?

Posted: Sun Aug 21, 2011 1:10 pm 

Replies: 8
Views: 1951


Why would someone making over 100k need a 15 year mortgage to buy a 220k house? Shouldn't you be looking at 5 year mortgages?

 Forum: Personal Finance   Topic: Advice for $5000

 Post subject: Re: Advice for $5000
Posted: Thu Jun 30, 2011 8:31 pm 

Replies: 30
Views: 3696


The thing is, you're looking at your emergency fund the same way you're looking at your other investments. That is, with the expectation that it should be earning you money. Instead, I would suggest that you look at it more like you look at insurance. It's something you pay, without any expectation...

 Forum: Personal Finance   Topic: Advice for $5000

 Post subject: Re: Advice for $5000
Posted: Thu Jun 30, 2011 8:24 pm 

Replies: 30
Views: 3696


And even if you think I am wrong, are you so certain that it will be available to gamble starvation, ruined credit, homelessness and all other possible outcomes of not having an EF? I don't understand this question. He's asking if you are willing to bet that your line of credit will be available if...

 Forum: Personal Finance   Topic: Advice for $5000

 Post subject: Re: Advice for $5000
Posted: Thu Jun 30, 2011 7:02 pm 

Replies: 30
Views: 3696


Do you actually think you will have that LOC if you lose your job? The LOC is available based on your current risk profile - credit score, job status, etc. That all changes if you lose your job. You probably will not actually be able to tap it when you need to. The bank only does an employment chec...

 Forum: Personal Finance   Topic: Advice for $5000

 Post subject: Re: Advice for $5000
Posted: Thu Jun 30, 2011 3:36 pm 

Replies: 30
Views: 3696


Open a line of credit, that's your emergency fund. But don't actually use the LOC except in an emergency. I respectfully disagree. I have to disagree with this as well. If we take what you are saying to the extreme of having NO emergency money, I am not even sure how you could cover your minimums (...

 Forum: Personal Finance   Topic: Advice for $5000

 Post subject: Re: Advice for $5000
Posted: Wed Jun 29, 2011 8:20 pm 

Replies: 30
Views: 3696


I've never been a big fan of emergency funds because it's money that's just sitting there earning little or no interest when it could be much better used to either pay debt or invested in something that will pay a decent return. Open a line of credit, that's your emergency fund. But don't actually u...

 Forum: Personal Finance   Topic: ING - Losing Money!

 Post subject: Re: ING - Losing Money!
Posted: Thu Jun 16, 2011 5:28 pm 

Replies: 14
Views: 2513


My portfolio also got clobbered in the last few weeks. Probably would have happened regardless of where you had your money.

 Forum: Personal Finance   Topic: Buying New Car for Better MPG even if I still Owe Money??

Posted: Sun Feb 13, 2011 10:48 am 

Replies: 39
Views: 6535


I say keep the BMW. 100k is not that much, it should last a lot longer. I totally agree, they should last a lot longer. And yet they don't. Other brands do, but not BMW's for some reason. I stand by my recommendation - it's a lemon that's going to cost him a fortune in repairs, and he should dump i...

 Forum: Personal Finance   Topic: Buying New Car for Better MPG even if I still Owe Money??

Posted: Sun Feb 13, 2011 10:45 am 

Replies: 39
Views: 6535


if it's something like the stereo or the air conditioner, you can just ignore it. You clearly do not live in Arizona...or Socal for that matter. Do you consider your heater expendable in Toronto? LOL ok fine... but how did people manage before cars had a/c? They opened the windows and still survive...

 Forum: Personal Finance   Topic: Buying New Car for Better MPG even if I still Owe Money??

Posted: Fri Feb 11, 2011 9:20 pm 

Replies: 39
Views: 6535


I say keep the BMW. 100k is not that much, it shoudl last a lot longer. When something breaks down, don't go to the dealership. Go to a good local mechanic. Go to a BMW forum and ask people to recommend a good mechanic in your area who knows BMWs. Unless you live in the middle of nowhere, chances ar...

 Forum: Personal Finance   Topic: What's Your Annual Financial to do list

Posted: Thu Dec 30, 2010 6:39 pm 

Replies: 5
Views: 1415


I'm going to establish an official car replacement fund. Will probably contribute $100=200 per month to it. I'm thinking of going with a balanced index fund. Eventually I'd like to get it to the point where I don't need to make any further contributions to it and the interest alone lets me buy a new...

 Forum: Personal Finance   Topic: What percent of Take Home for Mortgage?

Posted: Fri Nov 12, 2010 7:29 pm 

Replies: 14
Views: 2374


Isn't the rule of thumb that a max of 1/3 of your gross income should cover your housing costs? I think someone with a 40k income can easily afford a 95k house. That's not even 3x his income. Here in Toronto the average house price is about 8x average household income and people are still buying hou...

 Forum: Personal Finance   Topic: Fell off the debt free wagon...

Posted: Fri Oct 29, 2010 6:15 pm 

Replies: 38
Views: 6166


Acura Canada currently has a promotional offer for the ZDX for a $12,000 discount if you pay cash. That is a 58k car for 46k!

http://acuragta.ca/en/offers.asp
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