Give Me Back My Five Bucks

Dipping into the EF

Well, over a month later, I finally got my bill from the dentist for the work she did on my front teeth. I originally thought it would cost close to $1,500 to get the work done (porcelain crown and a veneer), but a month ago I was quoted $1,230 … and my invoice was only $868.20!!!

While that’s still an expensive bill, I think that’s pretty cheap for a crown and veneer. The EF is going to take a hit, but I’m okay with that.

Adjusting my Mutual Funds

Hey I just wanted to thank all of you for posting such thoughtful comments on what I should do with my mutual funds. I ended up switching over to a Money Market fund, as well as a T-Bill fund. The money that is currently still in the moderate risk funds I’m going to leave in there for now, because I don’t want to lose the 2% I’ll get charged if I move it into a different fund within 90 days of purchase.

Below are just a few of the responses I got:

Since you need the money short term, I think you’d be better off in the MM fund. Yeah, I’m tempted to pick up things while they are cheaper, but I think things are still overpriced. I also promised myself that I will try not to do anything without an investment strategy/plan. Investing is something you can’t cram into a night and I think it’s a lifetime learning process. You’re still young but if you need the money, I wouldn’t risk it.

Mike (fourpillars)
For a short term investment you need to go as low risk as possible ie MM fund.

The idea is to increase the probability that the $$ will be there when you need it. If you only have a one year time line then you cannot be sure that money invested in equities will all be there when you need it.

Once you buy a property and put a deposit down then you definitely need to make sure the rest of the downpayment is in money market & cash.

gates vp
Yeah Krystal, when you mentioned the HBP, I completely forgot to mention that you should be pulling part of your funds into “guaranteed returns”: T-Bills and Money Market funds.

Of course, the big question here is “when are you actually planning on dropping the money on the house”?

If you have <> 2 years, then you have a lot of options. You see, at the rate you’re going you’ll have way more than 20k in RRSPs in 2 years, but 20k is all that you can use.

If you figure on having 30 or 40k in RRSPs by the time you’re ready, then you can divvy up the pieces and grow 20k the “safe way” and grow the rest on the markets.

Personally, my big question would be “What am I going to do for investing in 2 years when I have my new place?”

Once you buy the home, much of the monthly pool of money you have for investing will become tied up in the home. Whatever part of your RRSPs left over after the home purchase now become your future “retirement” funds. So this is probably a nice reminder to ensure that everything is funded in a few years :)

Oh, and also a big thanks to Jagular, who wrote an entire post on Money Allocation for me!!!

Also, there was one comment asking for a little advice:

Can someone suggest some good, money-market accounts? I was looking into the ones with ING because I already have a lot of investments through them, but the returns (I was checking since inception) on most of them are even less that those on my saving accounts and GICs.

Personally, I’m with TD Canada Trust. Through looking at the MM funds, I noticed that they do return significantly less than other funds, but that’s what you get for the security of having your money in a very low risk fund. To be honest, I didn’t do much research at other financial institutions because all my investments are with TD, and I’d like to keep everything there for convenience. At least for now anyway.

Blah blah blah, whine whine whine

Wow, it’s been such a crazy last few days, I don’t even know where to start. It feels like my entire life is in disarray right now. The high from the concert on Sunday is slowly wearing off on me, but it’s what got me through yesterday and this morning.

Sunday night was the Ryan Adams concert, and it was amazing. I got to the venue a good 2 hrs. before doors opened, and was the 3rd person in line. :) So needless to say, I was front row centre. It was 2.5 hours of pure music goodness. It was what they call a “Red Cave” show (Blue Cave is acoustic), which is all pumped with energy and electric guitars and crazy jams.

It was way better than his show in 2005, and is now, by far, the best concert I’ve ever been to. Everyone is saying that it was one of his best performances this year. I only bought a tour t-shirt and a few stickers for a total of $31. I would have bought the tour poster for $20, but apparently they got stuck at customs at the border! I’ll have to fight the other rabid Ryan fans for them when they go on sale online since only 300 of each show got produced.

While waiting in line before the show, I met a couple who had been following Ryan up the coast, and they were kinda “in the know.” The band had put them on the guest list for Sunday’s concert b/c they couldn’t get tickets to the new venue. Anyway, after the concert, my friend and I hung out with them outside Ryan’s tour bus (the band was inside eating). Ryan recognized the couple, and came out to talk to us for a bit while he chowed down on some pizza. One thing led to another, and I found myself walking with Ryan Adams and Brad Pemberton (drummer) to 7-11 so they could get some snacks for their 16 hr. drive to the next show!!! How random! It was absolutely priceless to see my favourite musician in the world wandering the aisles of 7-11, checking out their DVDs, grabbing as much food as he could carry to the counter, all the while I’m trying to act nonchalant about it all … like it’s no big thing I’m hanging out with Ryan F’ing Adams.

















Anyway, sorry to write so much about the concert! :) It helps me take my mind off work and other stresses. I had to get up at 4:30am yesterday morning (after getting 2 hrs sleep) to catch the 7am ferry back. Then I worked from 9am – 11pm, and nearly broke down from exhaustion and not even having the time to eat a proper meal the entire time. This morning, I had a mini sob session in front of the BF b/c I didn’t want to work 12 hrs again today, and I wasn’t sure if I could take the time off work to go on our camping trip this weekend (it’s a long weekend for us here). But I really want to, so I’m going to try and make it work this week.

I know, I should stop moaning and complaining. It was my own choice to work so much, and I can quit the part-time job if I have to. I just don’t want to. So, as Ryan Adams would say: “blah blah blah, whine whine whine,” and Chin Up, Cheer Up.

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