Canadian Money Forum banner

161 - 180 of 185 Posts

·
Registered
Joined
·
7,378 Posts
I think people overlook that. I'm wondering if one of the effects of COVID and home-schooling, parents will be more appreciative of what teachers have to go through.
Yeah, 6 hours of classroom time for <10 months and $80k, sign me up.
 

·
Registered
Joined
·
1,212 Posts
One thing we don't talk about enough is how real estate investors in Canada eat up the supply of homes, often by using debt (made possible by low interest rates). These are people who own several homes, NOT because they need a place to live, but because they want investment "returns".

Instead of getting those returns in stocks, bonds or GICs, they borrow money and pile into real estate, driving up the prices of everyone's homes and also removing houses from the available supply:

Indeed... maybe it's time to consider limiting investors to new builds. This would increase the supply of homes overall, as well as prevent the removal of supply from the resale market.

Current owner investors would be grandfathered, but would be prevented from flipping their homes to another investor.
 

·
Registered
Joined
·
1,488 Posts
Boo hoo, the average Teacher income in Ontario at 80k is 30% higher than the median Canadian FAMILY income.
So you believe their work doesn't worth that income?

The $60k median Canadian household income is after taxes.
 

·
Registered
Joined
·
1,488 Posts
No, I said it's a very nice well paid job.
I was unsure when you said "sign me up", so I guess you'll change job soon and tell us your experience as a teacher because you seem very interested.
 

·
Registered
Joined
·
140 Posts
I was unsure when you said "sign me up", so I guess you'll change job soon and tell us your experience as a teacher because you seem very interested.
I doubt he would be qualified but even if he was would the Thames Board hire him.

Maybe after being on the supply list a few years they might give him a chance.
 

·
Registered
Joined
·
7,378 Posts
I doubt he would be qualified but even if he was would the Thames Board hire him.

Maybe after being on the supply list a few years they might give him a chance.
Career change at this point is tough, and not worth it.

Most of the teachers I went to school with went to remote and underserved areas, go live in the country on a teachers salary.
 

·
Registered
Joined
·
13,951 Posts
I'm skeptical about the 80k average pay. I remember see many of my high school teachers on the sunshine list in the early 2000s. There are ten thousand secondary school teachers in Ontario on the sunshine list (100k+)

 

·
Registered
Joined
·
376 Posts
I think people overlook that. I'm wondering if one of the effects of COVID and home-schooling, parents will be more appreciative of what teachers have to go through.
You'd think.

Unfortunately, there are people who think that school closures are because teachers are lazy.
 

·
Registered
Joined
·
7,378 Posts
You'd think.

Unfortunately, there are people who think that school closures are because teachers are lazy.
I think it's part teachers, part government, but mostly teachers union leadership causing ****.

The Government wants safe daycare for kids, the teachers (most) want the kids to succeed, or at least learn something, and that's better in class.
 

·
Registered
Joined
·
20,727 Posts
My observation there is a small pocket of people that really can afford all of their stuff and have it all materially. There is a group of people that make choices to be more material at the expense of savings, they instead of using their money to invest, they do it on what I call expensive lifestyle choices. They are able to get the material things due to the ability to have payments or at the cost of not having any savings for the future. Then there is a group that is just living the high life they cannot afford.
I find it hard to believe that everyone is just carrying debt. Even if they are, how do they keep up with it? How do they even get approved?
There is a lot of debt out there, and there are also people who are blowing their entire (huge) paycheques every month on expensive lifestyles. Even if someone is not massively in debt, they might be spending all their money.

I wanted to share this segment of an interview, especially for @KaeJS @MrBlackhill @nathan79 because this guy really does a good job explaining the popular belief of what "being rich" means and how what you see with your eyes is misleading. I linked to 20:22 in the video

"Wealth is the money you have not spent yet." So it's invisible. All the nice stuff you see with your eyes, the big cars and fancy house, is not wealth.

 

·
Registered
Joined
·
1,488 Posts
"Wealth is the money you have not spent yet."
To me, financial wealth is simply your net worth.

And I do want to be a millionaire to spend that million. Why else would I want to be a millionaire? I am currently increasing my net worth only so that I can reach the point where I spend all of my net worth throughout the rest of my life. The issue is not spending the million, the issue is how you spend the million.

The worst thing that could happen to me would be to die as a millionaire. I want to die with a net $0 (after funerals are paid by my own money), no more, no less.

Give $1M to some kid, he'll go buy some expensive clothes, a luxury sports car and party every night, he'll show off until he's broke again a few years later.

Give me $1M and I retire tomorrow. I'll keep my Hyundai Accent 2014. I'll keep my current clothes that I bought 5 years ago. But I'll make a budget so that at 95 years old I'll have net $0. And I'll take all of my time to live slowly all the experiences I want to live. I'll read books in my hammock. I'll take some music classes, dance classes, cooking classes, I'll go back to school, I'll do some hiking, I'll learn languages, I'll travel the world with only a backpack and do some couch surfing.

Give me $10M and I'll redistribute $9M to family, friends, good causes. I don't need more than $1M. I simply need just enough to do what I value in life.
 

·
Registered
Joined
·
20,727 Posts
And I do want to be a millionaire to spend that million. Why else would I want to be a millionaire?
I agree with what you're saying here, but the point made by that guest was that the impressive things that you see others displaying (like fancy cars) is NOT their wealth. Someone's wealth is invisible.

Give me $1M and I retire tomorrow.
Is this really enough? At a 4% withdrawal rate, that would generate 40K before taxes are considered. Does that pay all your living expenses?

As a single person, I'm living on about 40K a year but I'd want to allow some extra room in there for more spending in retirement. If I figure that I need 50K annually to live off, that suggests I need something like 50 / 0.04 = $1.25 million to retire.
 

·
Registered
Joined
·
1,488 Posts
I agree with what you're saying here, but the point made by that guest was that the impressive things that you see others displaying (like fancy cars) is NOT their wealth. Someone's wealth is invisible.
I agree that wealth is invisible. Some guy may not have fancy clothes nor fancy cars and be very wealthy. Some guy driving a Ferrari could hide huge debts making him poor.

Yet, some have both. They are wealthy and they can display they wealth. Bezos has a half billion dollar yacht.

Some guy could go a buy a $10M house and yet have a net worth lower than mine due to his debt, but that $10M house is still displaying that he can afford something that I can't. (But I don't care, because if he has a $10M house but a low net worth, then he's bad at managing his money)
 
161 - 180 of 185 Posts
Top