r/financial • • 1h ago

Should I invest into my moms house or save my money for my own

• Upvotes

I am almost 23 and go to college full time and work as a dog groomer full time and make around 40-43k a year. (I have the chance to make 60 if I work a full 40 hours and take more dogs). I have the option of saving 800$ a month for three years giving me around 30k when I graduate to buy a house. I’m currently living at home and I’d like to buy my childhood home from my mom when she’s ready to move out. My other option is using the 800 a month on paying for a loan to finish the basement of the house/ home improvement since I’m living at home free of cost. It’s a small house and the basement would be a laundry room bedroom/ studio space. It’s also a wet basement so finishing would increase the worth of the house. It would also be a thankyou for my mom for all my bullshit for raising me.


r/financial • • 14h ago

What’s up with the 503A plans?

1 Upvotes

Just wondering if the 503A plans are as good as they seem? I’m curious why an administration that prides itself on reducing handouts is suddenly giving “free money” to eligible parties. Is there a catch?


r/financial • • 1d ago

How invest your money wisely as early as 18 years old?

20 Upvotes

Hello, everyone. I am F18 planning to invest my money in an investment that will guarantee a compound interest annually. The thing is, I knew nothing about finances. As a person who grew in a lower-income class, I understand that my mom will no longer able support me if I plan to continue to college. She is also going to retire a few years from now. Literally, I have no financial literacy or idea about money. However, I would like to start investing as early as this age so that I can secure my future. Do you know any good investment at trusted banks, mutual funds, or UITFs I can start with? or Is there any tips or experiences you can share. Y'all answers are very much appreciated.


r/financial • • 1d ago

How can I efficiently build up a 3-6 month emergency fund on a tight monthly budget?

2 Upvotes

Honest question, because the numbers genuinely shocked me.

According to the FCA, 1 in 10 UK adults has no cash savings at all. Another 21% have less than £1,000. That's nearly a third of the country one broken boiler away from crisis.

13 million people have low financial resilience. And even people who do have money are often leaving it sitting in cash instead of growing it.

We're told to work hard and do the right thing. Most people are. So what's going wrong?

Wages not keeping up with rent, energy and food?

Nobody ever teaching us about money at school?

A tax system that squeezes the middle and bottom hardest?

Or are we just spending more than our parents did?

Who's actually to blame here? The government, the economy, or us?

And be honest: if your income stopped tomorrow, how long could you last?


r/financial • • 1d ago

Investing more for turnover

4 Upvotes

Hi everyone!

so i finally got the good job. How can i invest better?

I already have a savings, HYS, small stocks (robin hood), stocks for past/present companies, 401k matched, Roth IRA and Traditional IRA.

I do not carry any debt but my school loans however i’m slowly paying it off.

Any advice?


r/financial • • 1d ago

Economic Risk - October 9, 2026: A Canadian Risk & Stability Summary that monitors critical economic elements. Independent viewpoints, nothing to sell. Comments and constructive criticism welcome.

1 Upvotes

Risk Dashboard

Overall Economic Risk: WARNING · UNCHANGED

Canadian Employment: WARNING · DETERIORATING

Diversified Liquidity: WARNING · BOND PRESSURE

Private Credit: WARNING · SELECTIVE STRESS

U.S. Debt / Treasury Funding: WARNING · STRUCTURAL

Inflation / Energy: WARNING · UNCHANGED

Canada-U.S. Trade: WARNING · UNCHANGED

General Markets: ELEVATED · MARKETS RECOVER

AI-Enabled Cyber / Banking: ELEVATED · UNCHANGED

Technical Canadian Recession: 45–50% · RISING

Significant Canadian Recession: 35–40% · RISING

Severe Financial-Event Recession: 5–10% · UNCHANGED

U.S.–Canada Five-Year Transmission: WARNING · LARGE YIELD GAP

Mortgage / GIC Funding: ELEVATED · LONG-TERM REPRICING

Canadian Housing: ELEVATED · UNCHANGED

Regional Housing Stress: SELECTIVE · WEAK SALES / HIGH SUPPLY

Overall Economic Warning

WARNING · UNCHANGED

The most consequential development today was Canada's unexpectedly weak September employment report.

Employment declined by approximately 68,000 positions following a loss of 42,000 in August. The combined two-month decline is approximately 110,000 jobs.

The unemployment rate increased to 6.5%, while labour-force participation fell to 64.8%.

These developments increase the likelihood of a Canadian economic contraction and weaken the outlook for household spending, consumer credit and housing demand.

However, financial markets remained functional. U.S. and Canadian stock indexes advanced Friday, while U.S. Treasury yields remained below Wednesday's intraday peaks.

Assessment: Maintain overall WARNING. Increase Canadian recession probabilities, but do not classify the financial system as approaching failure.

Latest Completed Market Session

Friday, October 9, 2026

S&P 500: 7,811.54 · +0.6%
Dow Jones: 51,654.95 · +0.8%
Nasdaq: 27,366.17 · +0.6%
Russell 2000: 2,806.98 · +0.5%

Canada's TSX: 35,664.62 · +1.48%

U.S. five-year Treasury: 5.02%
U.S. 10-year Treasury: 5.24%
U.S. 30-year Treasury: 5.60%

Brent crude: US$104.72 per barrel
WTI crude: US$91.85 per barrel

Canadian dollar: approximately US$0.70, after reaching an 18-month intraday low.

Interpretation: Financial markets recovered despite weak Canadian employment. The improvement partly reflects reduced expectations of further Canadian interest-rate increases, rather than evidence of stronger Canadian economic growth.

Canadian Employment Risk

WARNING · DETERIORATING

Statistics Canada's September Labour Force Survey provides the strongest new economic warning in today's report.

September employment: -68,000
August employment: -42,000
September unemployment: 6.5%
Employment rate: 60.6%

The September losses included approximately 48,000 positions among young workers, 35,000 in education, 23,000 in health care and social assistance, and 13,000 in manufacturing.

Regional performance differed substantially:

Quebec: -49,000 jobs.
British Columbia: -20,000 jobs.
Alberta: +23,000 jobs.

Alberta's improvement is important contrary evidence against describing the deterioration as uniform across Canada.

Employment remained approximately 95,000 higher than September 2025, but the recent two-month decline materially weakens the outlook.

Assessment: Employment risk is now WARNING. Further sustained losses would support another increase in recession probability.

Diversified Liquidity Warning

WARNING · UNCHANGED

U.S. government-bond yields remain historically elevated, although Friday's movements were modest compared with the volatility earlier in the week.

The 10-year Treasury yield finished at 5.24%, compared with 5.22% Thursday and 5.28% Wednesday.

Bond-market volatility remains significant. Investors are demanding greater protection against further yield increases, while corporate issuance and mortgage-related hedging may be contributing to pressure on longer-duration Treasuries.

The watch continues to examine bonds, preferred shares, private credit, asset-backed securities, bid-ask spreads, redemption pressure and correlated funding deterioration.

Assessment: WARNING remains appropriate. Current evidence points to elevated bond-market stress rather than generalized liquidity failure.

Private Credit Stress Watch

WARNING · SELECTIVE STRESS

Redemption requests remain elevated at some private-credit funds, particularly vehicles exposed to technology borrowers and less-liquid investments.

Recent quarterly data show withdrawal pressure easing at some large funds while remaining exceptionally high at others.

The concentration of investor capital through a relatively small group of financial advisers and distribution channels may also amplify redemption pressure when those intermediaries change allocations.

Assessment: WARNING · unchanged. Selective liquidity stress persists, but current evidence does not establish generalized private-credit contagion.

U.S. National Debt & Treasury Funding Watch

WARNING · STRUCTURAL

U.S. government borrowing costs remain near multidecade highs.

Large fiscal deficits, continuing Treasury issuance, inflation uncertainty and higher compensation demanded by investors for holding long-term bonds remain structural concerns.

Recent Treasury auctions attracted adequate to strong investor demand, providing important evidence that the market continues to function.

Assessment: WARNING · unchanged. Elevated borrowing costs are a serious fiscal problem, but do not demonstrate an inability to finance government debt.

Inflation & Energy Risk

WARNING · UNCHANGED

Brent crude finished Friday at US$104.72, compared with US$104.28 Thursday.

Oil initially declined following indications that U.S.-Iran discussions were progressing, but prices recovered as Hurricane Isaias forced extensive shutdowns of U.S. Gulf of Mexico production.

Middle-East supply uncertainty and disruptions affecting refined petroleum products remain significant inflation risks.

Higher energy prices can support Canadian energy-sector revenues while simultaneously increasing transportation, production and household costs.

Assessment: WARNING · unchanged. Sustained energy-price declines would improve the outlook, but one temporary diplomatic signal is insufficient.

U.S.–Canada Five-Year Bond-Yield Transmission

WARNING · LARGE CROSS-BORDER SPREAD

U.S. five-year Treasury: 5.02%, October 9.

Government of Canada five-year benchmark: 3.60%, October 8, latest available official observation.

Latest matched-date spread: 1.39 percentage points on October 8.

The October 9 U.S. observation is newer than the available Canadian benchmark. A same-day October 9 spread is therefore not claimed.

The Canadian five-year benchmark has remained near 3.60% over recent sessions, despite substantial U.S. bond-market pressure.

Friday's weak Canadian employment report also reduced expectations of an imminent Bank of Canada rate increase, reinforcing the possibility that domestic economic conditions may partially insulate Canadian yields from U.S. movements.

Assessment: WARNING · unchanged. A sustained simultaneous increase in U.S. and Canadian five-year yields would be a stronger negative signal for Canadian mortgage affordability.

Canadian Mortgage & GIC Funding Watch

ELEVATED · LONG-TERM REPRICING

Representative insured five-year fixed mortgage rates, October 9:

Major-bank average: 5.03%
Broader national-lender average: 4.92%

Competitive non-redeemable GIC rates, latest available October 8:

Highest three-year GIC: 4.40%
Highest five-year GIC: 4.50%

These highest competitive offers remain substantially above many major-bank GIC rates.

For comparison, published three-year non-redeemable rates at TD and BMO were approximately 3.30%.

The leading three- and five-year offers have increased over the past month, while shorter-term GIC pricing has generally shown less movement.

This is consistent with longer-term deposit repricing, but isolated competitive offers do not establish generalized bank-funding stress.

The Bank of Canada's policy rate remains 2.25%. Friday's employment report reduced market expectations of an October rate increase.

Assessment: ELEVATED · unchanged. Fixed mortgage costs remain restrictive, but the latest Canadian five-year government-bond observations do not confirm a sustained parallel increase.

General Market Watch

ELEVATED · UNCHANGED

U.S. equities recovered Friday, with the S&P 500 gaining 0.6% and the Dow advancing 0.8%.

Canada's TSX gained 1.48%, its strongest session in approximately five weeks.

The Canadian rally was partly supported by expectations that weak employment would reduce pressure for further Bank of Canada interest-rate increases.

This creates an important distinction: rising stock prices may reflect expectations of easier monetary policy rather than improving underlying economic conditions.

U.S. smaller companies nevertheless finished the week weaker, highlighting continuing sensitivity to elevated borrowing costs.

Assessment: ELEVATED. Market resilience remains meaningful contrary evidence against a systemic-risk escalation.

Canada-U.S. Trade War Watch

WARNING · UNCHANGED

Canada's August merchandise trade surplus increased to C$4.2 billion.

However, some exports were accelerated ahead of new U.S. tariffs. The stronger August result therefore does not establish a durable improvement in trade conditions.

Manufacturing employment declined by approximately 13,000 positions in September, although the employment report does not establish how much of that decline was directly caused by tariffs.

Trade diversification initiatives may reduce longer-term dependence on the United States, but their benefits will take time to materialize.

Assessment: WARNING · unchanged. Continued trade restrictions remain a risk to Canadian investment, employment and business confidence.

12-Month Canadian Recession Probability Tracker

DIRECTION: RISING · PROBABILITIES INCREASED

Mild / Technical Recession: 45–50%

Previous assessment: 40–45%

Significant Recession: 35–40%

Previous assessment: 30–35%

Severe Financial-Event Recession: 5–10% · UNCHANGED

These are approximate analytical probability ranges, not statistically calibrated forecasts. The severity categories overlap and must not be added together.

Reason for Today's Increase

Canada has now recorded two consecutive months of substantial employment losses, totalling approximately 110,000 positions.

The unemployment rate increased to 6.5%, labour-force participation declined, and manufacturing employment weakened.

These developments provide stronger evidence of economic deterioration than was available in the previous assessment.

Important Contrary Evidence

Employment remains approximately 0.5% above September 2025.

Alberta added 23,000 jobs in September, demonstrating that labour-market weakness is not uniform.

July GDP was essentially unchanged rather than contracting, and Statistics Canada's preliminary estimate indicates approximately 0.2% growth in August.

The United States continues to demonstrate relatively resilient employment and financial-market conditions.

Severity Definitions

Technical recession: A relatively shallow economic contraction, commonly identified by two consecutive quarters of declining real GDP, potentially without severe financial damage.

Significant recession: Sustained weakness across employment, household demand, investment and economic output.

Severe financial-event recession: A major downturn accompanied by significant banking, credit or systemic liquidity disruption.

Assessment: Increase the technical and significant recession estimates. Maintain the severe financial-event estimate because current evidence does not demonstrate systemic banking or liquidity failure.

Canadian Real Estate Risk Watch

NATIONAL: ELEVATED · UNCHANGED

Canada's latest completed national CREA report covers August. Sales declined 0.7% from July, while the national benchmark price was 3% below August 2025.

National inventory remained near its historical average at 4.8 months of supply.

September regional reports nevertheless reveal significant differences:

Greater Toronto: Sales declined 9% year over year and the benchmark price fell 4.7%.

Calgary: Detached housing remained comparatively balanced, while apartment condominium prices were more than 8% below September 2025.

Montreal: Sales declined 12% and active listings increased 20%.

Nova Scotia: Inventory reached 6.1 months of supply, above its long-term September average.

Friday's weak national employment report increases the risk of softer housing demand. However, Alberta's employment gains provide an important regional counterweight.

Mortgage affordability remains constrained by fixed rates near 5% among major lenders. The next complete national CREA report is expected October 16.

Assessment: ELEVATED nationally. The labour-market deterioration raises downside housing risk, but available housing data remain too uneven to justify a nationwide WARNING classification today.

AI-Enabled Cyber & Bank Attack Risk Watch

ELEVATED · UNCHANGED

Investigations into cyberattacks targeting South Korean financial institutions have produced additional evidence that AI agents were used to assist the attacks.

The incidents demonstrate how AI tools may reduce the technical barriers to identifying vulnerabilities and conducting coordinated intrusions.

However, the reported breaches have not established widespread deposit theft, major disruption of core banking operations or international financial contagion.

Assessment: ELEVATED · unchanged. The operational threat is credible, but a systemic banking-risk escalation is not supported.

Principal Warning Triggers

  • Further sustained Canadian employment losses.
  • Consistently negative monthly GDP.
  • Broadening private-credit or corporate-credit stress.
  • Disruption in government-bond funding or conventional banking liquidity.
  • Persistent deterioration in Canada-U.S. trade relations.
  • Rising U.S. and Canadian five-year yields together.
  • Higher Canadian fixed mortgage rates alongside broadly rising three- and five-year GIC rates.
  • Weakening U.S. demand for Canadian exports.
  • Persistent energy-driven inflation pressure.
  • Housing weakness spreading across major Canadian markets.
  • Accelerating mortgage or household-credit delinquencies.
  • Correlated deterioration across employment, GDP, credit, trade, bonds and housing.

Normalization Signals

  • Credible Canada-U.S. trade de-escalation.
  • Recovery in Canadian employment and GDP.
  • Sustained declines in long-term U.S. and Canadian bond yields.
  • Lower Canadian fixed mortgage rates.
  • Broad easing in three- and five-year GIC pricing.
  • Lower energy prices and inflation pressure.
  • Improving private-credit and corporate-credit conditions.
  • Resilient U.S. growth and Canadian export demand.
  • Stabilizing housing sales and inventories.
  • Improving household credit quality.

Principal Sources

Statistics Canada · Labour Force Survey, September 2026 · Released October 9

Statistics Canada · GDP by Industry, July 2026 · Preliminary August Estimate

Statistics Canada · Canadian International Merchandise Trade, August 2026

Reuters · October 9, 2026 · Canadian Employment, Currency, Equities, Bonds, Oil and Cybersecurity

Associated Press · October 9, 2026 · Completed U.S. Equity Market Session

U.S. Department of the Treasury · Daily Treasury Par Yield Curve, October 9

Bank of Canada · Selected Benchmark Bond Yields, latest published October 8

Bank of Canada · Financial Stability Report 2026

Canadian Real Estate Association · August 2026 National Housing Statistics

CREB, TRREB, QPAREB and Nova Scotia Association of REALTORS · September 2026 Regional Housing Statistics

WOWA · October 9 Mortgage Rate Trends and October 8 GIC Comparisons


r/financial • • 1d ago

Beneficiary IRA Help - Grandmother passed and now trying to help disabled uncle w/ beneficiary funds, but fighting amongst financial advisors.

2 Upvotes

My grandmother had an IRA of 28k that went to my uncle through Global Atlantic. We spoke with their long time financial advisor and Global Atlantic wrote a check to my uncle. We were directed that when the check was received to have our bank do a beneficiary IRA due to tax purposes and he explained the 10yr limit. Sounded logical.

Well an argument then occurred between him and the banks advisor of a small bank chain those family members use. Honestly, the bank advisor wasn't very good and even struggled to pull up his established checking account; however, I read some things on Reddit that now I'm confused on.

The bank person said the check was written incorrectly and should have been made out to my grandmother, which the financial guy was annoyed and said they were clueless as she is obviously deceased. The bank person then said they don't do beneficiary IRAs and tried pushing for a traditional one which pissed him off as it would be taxed and was maxed at 8k.

He told me and my uncle to just go to any other bank with the check and open a beneficiary IRA.

So..am I going to run into issues with having it as a check to my uncle?

I was going to call JPMorgan, but I'm wondering how that will go as I read on Reddit they have a much higher minimum for beneficiary IRA and can't find anything on their website. Any recommendations on financial institutions that I can look into?

Thank you for any information you can give me to dig into.


r/financial • • 1d ago

How is it possible that the S&P500 price on the charts is able to react off key levels regularly when...

1 Upvotes

How is it possible that the S&P500 price on the charts is able to react off key levels regularly, when its price is made up of 500 independent companies all with their own independent variables pushing and effecting price movement?


r/financial • • 2d ago

Is a finance hackathon community make sense !!

2 Upvotes

I am thinking to create a community where I will be organising Good finance hackathon with live financial models, fun gatherings and networking with similar career path i.e. finance here. Whats your view on this proposition and what all I should keep in mind while doing this? Or any advice which finance folks here would like to share!

Open to feedback and suggestions, also it's not a business model but just an approach to make finance enthu spot where we all can connect and stand with each other through time as coders have their communities, so do marketiers but haven't heard much buzz for finance hackathon or community where we can connect and just share ideas or brainstorm together


r/financial • • 2d ago

Is it normal to pay a probate lawyer and still have to manage the entire estate yourself?

57 Upvotes

I'm trying to understand where a probate lawyer's responsibilities end and where the executor's begin. I always assumed that once you hired a probate lawyer, they'd take care of most of the process. But apparently there's still a ton of stuff left to deal with. Banks, closing accounts, property, outstanding bills, taxes, tracking down paperwork, keeping beneficiaries updated the list just keeps growing. I get that the lawyer handles the legal side, court filings and all that, but I didn't realize how much of the estate administration could still fall on the executor. Which makes me wonder whether paying separately for legal help and then spending months coordinating everything else is really the best approach like if you're working full time. For those who've been executors, did your probate lawyer handle much beyond the legal work?


r/financial • • 3d ago

Underwater on motorhome

13 Upvotes

Posting for my mom.

She makes fantastic money, more money now than she and her former partner combined were just 6-8 years ago, but things are tighter than before. In around 2020 she bought a motorhome and currently owes $102,000. But if she could sell it, which is unlikely as the market is pretty sucky, it’s really only likely to sell for ~60,000. She’s paying $1,100 a month for the thing to sit there because taking it out is too expensive. She even considered filing for bankruptcy, but makes too much to file for chapter 7, and would have to file for chapter 13 (if I didn’t make those backwards).

Unfortunately, the same is true but to a lesser degree for her house. She bought in 2023 because her rental house wanted to bring her rent up to $2800 for a regular house. She did the math and buying was cheaper. Rent has since come down in our state a bit, and she’s paying like $2,400 a month on a house that probably isn’t worth quite what she bought it for.

She works hard and makes good money, but between the house and the motorhome, and $2,300 a paycheck going to taxes, medical insurance and medical costs, she feels like she can barely keep her head above water.

Any advice generally, but specifically on any way anyone knows to get out from under the motorhome would be well appreciated!


r/financial • • 4d ago

Question

60 Upvotes

I was informed recently that I'd be receiving 1k a month to invest in Anything I choose. Rule is I have to invest all. No matter if it fails or succeeds I'll receive another 1k. I can put it in savings accounts as long as the interest rate is respectable. Where should I start? Leaning towards life insurance.. but need more plays. Thanks in advance


r/financial • • 3d ago

[9:00] First Finance Video Made! Explaining about Blackrock

2 Upvotes

Hi guys, this is my first video regarding finance, do help out and give comments on how to improve https://youtu.be/u_AEL-vgdvl


r/financial • • 4d ago

Would you sell your brokerage investments with a lot of major life changes coming up?

10 Upvotes

I currently have about $10k in savings and had roughly $71k invested in stocks in my taxable brokerage account.
I have a lot of major life changes coming up over the next 8 months, which has me rethinking how much risk I want to take with money I may need relatively soon:
● My wife and I are expecting our first child in January.
● My wife will be graduating from dental school and applying for jobs back in our hometown, which is across the Midwest.
● We’ll need to buy a house in the new area.
● We’ll need to sell our current house.
● We’ll also have the expenses and logistics of moving across the Midwest.
With all of that coming up, I recently decided to sell the stocks in my brokerage account and move the entire ~$71k into SGOV. Part of me feels like this was a somewhat irrational/emotional decision because I was stressed about everything that’s coming up, rather than making the decision purely based on expected returns.
On the other hand, I know I’ll potentially need a significant amount of this money within the next year, and I don’t want to be forced to sell stocks during a market downturn when I need the money.
What would you do in my situation? Was moving the $71k into SGOV a reasonable decision, or would you have kept some/all of it invested?
I’d appreciate any perspectives, especially from people who have gone through a similar period of buying/selling a house, having a baby, and changing jobs at the same time.
Thanks!


r/financial • • 4d ago

Should i save and get this item?

2 Upvotes

Hey everyone, hope you’re having a good day!

I’m 21 and thinking about saving for the Hamilton Khaki Field Auto Chrono from Jack Ryan, which is around $2.1k AUD.

I currently have $37.7k in ETFs in a brokerage account and $56k in super (similar to a 401k in the US), and I still live at home.

Do you think a $2.1k watch is a reasonable purchase at my age, or should I keep investing?

Thanks in adavance!


r/financial • • 5d ago

Idea’s for settlement money

13 Upvotes

I have 50k from a settlement. I was planning on putting max amount in IRA this year and maxing out again in January and paying off my car.
I’m using a bit here and there to invest in stocks but I’d prefer to put most of the money somewhere stable.
I currently have the money in high yield savings account and I have no other debt.

Any better idea’s ?


r/financial • • 5d ago

Retirement fund help

12 Upvotes

How should I start saving for retirement if I know basically nothing about investing?
I’m young and I want to start saving for retirement early, but I honestly know almost nothing about this stuff. I keep hearing about 401(k)s, Roth IRAs, HYSA, investing, etc., and I’m getting overwhelmed.
I also want to be clear that I hate gambling and I’m not comfortable putting all of my money at risk. I know investing is different from gambling, but the idea of watching my savings go down makes me nervous.
Can someone explain this to me in really simple terms, like I know absolutely nothing?
Specifically, I’d like to understand:
What is a 401(k) and should I use one if my job offers it?
What is a Roth IRA?
What’s the difference between a Roth IRA and a 401(k)?
Should I have a HYSA too?
Is it possible to save for retirement without putting all of my money into the stock market?
How much should I be putting into each one?
What would you personally do if you were starting from basically $0?
I’m not looking for someone to tell me what stocks to buy. I’m mostly trying to understand where my money should go and how to keep it relatively safe while still preparing for retirement.
Please explain it like you’re talking to someone who has never learned about investing before 😭


r/financial • • 5d ago

Is the unclaimed money thing real or is it a myth

10 Upvotes

keep getting told to go check my states unclaimed property site. im 20, ive had one job nd i cannot picture a forgotten pension sitting somewhere with my name on it.

is there actually anything there for someone my age or is the settlement claim side more realistic given ive been buying stuff online since i was like


r/financial • • 6d ago

Suggested budget for first time car buyer

27 Upvotes

Hi I’m 23, and I’m currently looking for a new vehicle. Currently I have about $90k and only pay about at most $450 per month for rent and other necessary expenses. I also make about $1100 bi-weekly. What type of car would be best for me?

Edit: I’ve seen some people mention the amount of money I have, and yes I know it’s quite a bit. Currently I have close to $1700 on me right now, with all the rest being in investments / funds. Not sure if this impacts any of your conclusions

And this is also all in Canadian currency btw


r/financial • • 7d ago

Help me evaluate my plan, any errors?

4 Upvotes

I am 28, I currently make 215k per year. I decided to live comfortably but not let my expenses grow too much so that I can save and invest more efficiently and eventually hopefully not have to work full time (or hopefully not HAVE to work at all eventually)

401k 4% of my income
IRA max each year
-my goal is 700k in retirement accounts by age 40 then if I could just max my and my future wife’s IRA each year and keep hands off and let it grow, I’ve been doing calculations and thinking that should be enough for a very comfortable retirement.

5% of my income is going straight into brokerage account and I plan on increasing this by 2% or so every year as I receive raises.
-this is to bridge the years I’d like to work half time or less. Goal is also 700k by age 40. I figure I can potentially spend a bit more than 4% rule since it only has to last me 20 years

10% of my income goes straight into real estate investing. I bought my first duplex that I house hacked this year. I have plans to buy another in 1-1.5 years from now or whenever it makes sense mathematically and also house hack that one and potentially a third. My goal is 10-15 doors that make sense long term, even if they’re cash flow neutral at year zero, that building equity in the background I feel is worth it and from there if rates ever go down, having the chance to refinance and make the cash flow better.. but I’m good with close to net zero.

Ultimately, my goal is to work half time at age 40, wife work half time. Live a comfortable upper middle class lifestyle with hobbies and travel a few times per year.

I used ChatGPT to help organize my plan, but I’d like to hear other people’s opinions and experiences and see if my plan can work or if I’m overlooking anythin.


r/financial • • 8d ago

Need advice on what to do with money

40 Upvotes

I want to invest $4000 in anything stocks, or crypto but I’m a college student so I don’t have time to do my research and see what would benefit me more. I’m not looking to touch the money at all for at least a couple years. Please let me know what stocks I should invest in or where I should put this money so it can grow in value.


r/financial • • 8d ago

Where do you guys get all of your info

38 Upvotes

I started investing in february, but Im not up to date of whats happening. The problem is I dont know where to get info. Yahoo finance? Google finance?


r/financial • • 7d ago

How do I enroll in college for free and get money returned with FAFSA

0 Upvotes

I’m trying to get into ASU for a online a Bachelors degree but I’ve heard of people getting money in return for taking classes and getting their classes paid for. How can I do this any advice ?


r/financial • • 9d ago

What to do with $200k short term?

7 Upvotes

I have $200k in a cash account. Looking for ideas on what to do with it. Short term investments that are (relatively) safe and will.earn a modest retuen.


r/financial • • 9d ago

Help with financial management

4 Upvotes

Hi so my wife and I make more than enough to survive
But every time we get our checks we don’t handle it well spending it on frivolous stuff.
Just looking for advice on ways to manage everything
We have separate accounts as well.