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Pay taxes are high responsibility that our young people, because we are living in an environment of social security regime in that kind of world
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Entering the CF and YOUR Money....
- Thread starter Armymedic
- Start date
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Be sure to have enough money to pay bills for at least one month, but i suggest two. My experience going through is that i went a month and a half without pay due to administrative errors.
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Exiting the CF and retiring early on your money:
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Just putting this out there for any vets who are wondering how to retire on next to nothing.
I've lived in a few countries already and I've been able to do it on almost nothing. (I teach English)
You can live in Mexico for less than $180/month for 2 people and buy a fairly nice 2 bedroom house for under $20,000 if you feel so inclined. (Foreign ownership is possible through a trust with a national bank)
China is doable on around $400 to $500/month for a really nice 2 bedroom apartment.
The Philippines is about the same as Mexico and probably a little safer.
You can also work and make a bit of money if you get bored of sitting around.
As an example:
If you have a TESOL which takes about a week to get, you can bring in around $2000 to $2500(China) and $1000(Mexico) to start per month. The job probably resembles BMQ (lots of yelling and marching in formation)... you don't need a degree but you do need a lot of patients. ;D
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Just putting this out there for any vets who are wondering how to retire on next to nothing.
I've lived in a few countries already and I've been able to do it on almost nothing. (I teach English)
You can live in Mexico for less than $180/month for 2 people and buy a fairly nice 2 bedroom house for under $20,000 if you feel so inclined. (Foreign ownership is possible through a trust with a national bank)
China is doable on around $400 to $500/month for a really nice 2 bedroom apartment.
The Philippines is about the same as Mexico and probably a little safer.
You can also work and make a bit of money if you get bored of sitting around.
As an example:
If you have a TESOL which takes about a week to get, you can bring in around $2000 to $2500(China) and $1000(Mexico) to start per month. The job probably resembles BMQ (lots of yelling and marching in formation)... you don't need a degree but you do need a lot of patients. ;D
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I was not sure where the best place to post this is, but this thread seems like a good place.
I am currently going through the application process and I have run into a bit of a money issue. I informed my work that I was going through the application process so they could be prepared if I am accepted. I thought letting them know in advance was the right thing to do, but because I did they have reduced my working hours to eight hours per week so they can train other people to take over. I am going to have a very hard time going from 25-30 hours per week to eight. My first instinct was to find another job so I can make the money that I need, but it is unlikely anyone would want to hire me when I am at this stage of my application.
Any suggestions would be appreciated, thanks guys!
I am currently going through the application process and I have run into a bit of a money issue. I informed my work that I was going through the application process so they could be prepared if I am accepted. I thought letting them know in advance was the right thing to do, but because I did they have reduced my working hours to eight hours per week so they can train other people to take over. I am going to have a very hard time going from 25-30 hours per week to eight. My first instinct was to find another job so I can make the money that I need, but it is unlikely anyone would want to hire me when I am at this stage of my application.
Any suggestions would be appreciated, thanks guys!
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kev994 said:
FTFY
http://www.labour.gov.on.ca/english/es/pubs/guide/termination.php#cons_dismissal
"A constructive dismissal may occur when an employer makes a significant change to a fundamental term or condition of an employee's employment without the employee's actual or implied consent.
For example, an employee may be constructively dismissed if the employer makes changes to the employee's terms and conditions of employment that result in a significant reduction in salary or a significant negative change in such things as the employee's work location, hours of work, authority, or position. Constructive dismissal may also include situations where an employer harasses or abuses an employee, or an employer gives an employee an ultimatum to "quit or be fired" and the employee resigns in response.
The employee would have to resign in response to the change within a reasonable period of time in order for the employer's actions to be considered a termination of employment for purposes of the ESA.
Constructive dismissal is a complex and difficult subject. For more information on constructive dismissal please contact the Employment Standards Information Centre, 1-800-531-5551."
Where do you work right now? (Industry and wage is fine) How long have you worked there? IN all honesty you shouldn't of told them anything. You are right it is the "right thing to do", but you also need to look out for your self. Once you post some more information I'll try and suggest more.
Edit: If you do any searching online only look at Ontario links, nothing else is relevant as it varies by province.
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If you have room, RRSP
RESP
GIC / TBill
Savings for next years income tax blitz
Lots and lots of take out
Donate it to a charity
Donate it to me
Buy a motorcycle
Buy a gun
Buy several guns
Buy me a gun
More take out
Mopar accessories
A Karaoke machine
I could go on... but you could pay me to shut up...
RESP
GIC / TBill
Savings for next years income tax blitz
Lots and lots of take out
Donate it to a charity
Donate it to me
Buy a motorcycle
Buy a gun
Buy several guns
Buy me a gun
More take out
Mopar accessories
A Karaoke machine
I could go on... but you could pay me to shut up...
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Jska said:
Would asking a Financial Planner not be the best option, than anonymous folk on the internet?
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BinRat55 said:
T-Bill ??? I wouldn't ever recommend a T-Bill to anyone (never for the past two decades anyway).
TFSA would be better than most of those suggestions, other than "Donate it to me". >
Eye In The Sky
Army.ca Legend
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What George said above. Everyone has different needs based on different lives, right?
Personally, mine went into a spousal RRSP. I was not willing to tax the 48ish% tax hit on taking it in cash. Now, it is being invested and growing in worth (I hope!).
Personally, mine went into a spousal RRSP. I was not willing to tax the 48ish% tax hit on taking it in cash. Now, it is being invested and growing in worth (I hope!).
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George Wallace said:
There is also this sticky,
Entering the CF and YOUR Money....
http://army.ca/forums/threads/26093.0.html
10 pages.
OP: "I would wish for the mods to sticky this thread, and any and all advice, questions, and occasionally opinions to do with personal finances be discussed here."
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