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metronome

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Posts posted by metronome

  1. Co sign @Joker on the retirement saving.  The easiest way to save is to set up a recurring auto deposit, you save monthly/biweekly/weekly and you never even notice you’re doing it.  If you are self employed this is obviously a little more tricky.

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  2. 1 hour ago, LUGR said:


    What short term investments are you rockin with?


    They’re most comparable to a bank bond I guess, we call them a GIC (guaranteed investment certificate).  They don’t make a ton of sense when rates are low but they’re returning around 5% right now so I have a bunch of them pooling up and coming to term when my mortgage is up for renewal.

     

    These would be separate from my long term investments, just buying these anytime I have a little spare cash.  Goal is to be mortgage free asap. 

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  3. @fat ralphyI think the biggest difference between our mortgage lending practices is term length.  Most Canadian lenders aren’t going longer than 5 years or so, it is possible to go longer but usually you have to sacrifice on rate for that.  
     

    You can also make your choice here between fixed vs a variable rate, it all depends on the type of person you are and how closely you watch the rate trends. 
     

    One of the big concerns in the Canadian housing market is supply.  The other big one right now is so many home owners are massively over leveraged because they bought in inflated markets (Toronto, Vancouver) with low pre Covid rates and now a lot of those mortgages are coming up for renewal.

     

    Most mortgages here will have rules about how much you can pay down your principal per year over your regular payments (mine is 25% for example).  I saw the writing on the wall in 2021 when our rates were at their lowest, paid a small penalty to break my mortgage and renegotiated (went from 2.9% down to 1.79) which ended up saving me ~12k in interest.  Now I’m at the point where most short term investments are returning well over my mortgage rate so it’s a race against time to stack it up to plunk down when my renewal comes up and you can pay into your principal with no penalty or limits. 

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  4. I'm kind of jealous you Americans are able to sign long term mortgage agreements.  I'd love to have sub 3% locked in for the longevity of the mortgage.

    I have 1.79% left for another 27 months or so.  I'm scrimping every last dollar I have in short term investments to try and stack as much up so when I have to renew so I can knock off a big chunk of the principal before my rate goes up. 

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  5. On 2/25/2024 at 6:40 PM, metronome said:

     

    This reminded me that I have 2 spicy Chilean sausages in the freezer that I need to thaw so I can make some breakfast patties with em. 


    Gave it a crack.  Only ended up using 1 and I don’t think I’ll try and break the next one down and make a patty.  Presentation is terrible but the sammy slapped. 

    7C80BA06-0675-4C38-9B08-4D1995B90A04.jpeg

    984FDA79-ABDA-43EC-92F8-BF22FE3347D5.jpeg

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  6. 8 hours ago, Dark_Knight said:


    Yeah watching with subs. I’ll watch the Netflix adaption too, but this one is very true to the story. Worried netflix will glamorize it and cut out a lot of the physics for the sake of viewership. 
     

    Remembrance of Earths Past was my favorite scifi trilogy of all time so this is like Christmas for me


    Ive been reading a Chinese sci fi anthology collection curated and translated by Ken Liu you may dig.  It has a few stories and an essay by Cixin Liu in there, I posted it a while back in the book thread. 

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