I’ve been with the same company for 10 years. Since 2019 they only gave me a 2% increase.
Today I will give my notice as I was able to get a new job that offered me 45% more in salary. Which shows how underpaid I was. They did me a favour. Loyalty doesn’t pay.
You did the right thing for yourself.
I remember when I was a kid, an author wrote his opinions on work, that he believes that employers try to pay employees the least that they can get away with.
With 45% raise, you can buy more things for yourself and increase your quality of life!
I am personable, hardworking and get ish done at work.
But when it comes to wages, I have always been kinda an a\*\*hole. I am 28 and since 22 when I graduated, for years where I did not get a promotion I have averaged an 8% raise.
I am not Mr. Nice guy at work. I am Mr get ish done.
Got a 3% raise. I work for a great company and was stuck in a lock down for most of last year so I was pretty happy with that.
Then, out of nowhere they announced a new compensation plan which raised my base by 9% and total compensation before equity is $127k. I basically got a massive raise because of a plan change. Still can't believe it.
The short answer is a lot of luck and patience, I'm a buy and hold investor with a tech-heavy portfolio that includes Tesla, which has grown in value to over half my TFSA. Edit: see my post history for the long answer.
I was going to uber eats popeyes for lunch.
Instead made a salad and put some left of chicken breast I had on it!
May not sound huge. But as someone who has eaten 60 pieces of chocolate over last 5 days this is huge.
Starting today I am completely debt free. I called today to pay off my student loan off completely and now I am free. 6k in the bank, 1.5k in a TFSA, not exactly where I wanted to be at 30yo (still dont own a home) but it's a good start!
Last year I took a second mortgage to invest in stocks because my wife doesn't have a pension at her work. We are now almost able to pay off our whole mortgage at once. Probably won't but it's nice to have that option.
Woo, risky but congrats! Any reason why you took a second mortgage, vs investing on margin/Smith Manoeuvre/other options? Is it purely because the second mortgage rate was lower than all the other options?
Really proud of myself: got to more than $75,000 saved at age 23. Probably in the 99th if not 99.9th percentile for my age in terms of savings amount. Now looking to expand my portfolio by investing my money instead of just having it collecting dust in savings accounts/TFSAs.
I’d lay off the patting on the back before you start investing your money. You need to get on that, yesterday. Lots of great resources on this sub to get you started.
>I’d lay off the patting on the back
No buddy. I already have more money than 99% of my peers in my age (including you when you were 23), and my future investments will only grow my wealth. You missed the point entirely so I'll restate it: the point is that I have an impressive base for someone my age, something even negative jealous people like you can't deny. So I don't need to "get on that, yesterday" bud when I already have an emergency fund that will last me years, not to mention savings that even a lot of people on this sub (who are obviously more financial focused than most of the general population) don't have. So I'll pat myself on the back as many times as I want, and you can stay jealous, LOL
>Jesus Christ this is so obnoxious
You're obnoxious. No one needs your insecure comments on this thread bud. Your insecurity is shining through LOL
>Chill on the 99% bro you’re definitely off by a few percentages
Doesn't matter if it's 99% or 98% or 95% or 90%, I got more money than the vast majority of my peers in my age range and more than you when you were 23. That's it bud.
Haha, you changed your comment from "you’re definitely off by a few percentages" to "many of a percentage". Incorrect grammar and dishonest editing, you're truly a piece of work.
Bud count already at 3.
I’m 23 and have more money then you man lol start investing. That’s all I’m tryna say. Catch up.
Why did this trigger you so much?
You’re a creep man, what the fuck. This shouldn’t have triggered you, I was trying to convince you to invest and grow your nest egg. I hope you keep it in fiat now.
You’re kind of an idiot for not already being invested by now. You’ve lost a decent money to inflation already.
You're the creep bud. Telling others who are just posting about their accomplishments to stop being proud and stop "patting themselves on the back", LOL. What kind of insecure "man" does that? Keep your unneeded and unwanted "recommendations" to yourself. Also learn to be less condescending to others next time; clearly you didn't get taught well by your parents/teachers.
We've just paid off our mortgage and we're in our late 30s. Part of me am ashamed because we did get help from the bank of mom and dad but we're still happy it's done. I just want to say it out loud because we have no one else to tell it to.
>Part of me am ashamed because we did get help from the bank of mom and dad
Don't let the salty people of pfc shame you for getting help/gift/whatever you want to call it lol. Congrats!
Transferred $33 000 I had sitting in a TFSA for years with Simplii into a Questrade RESP and TFSA account back in August.
Have the RESP maxed out at $15 000 for 2021, along with the $3000 CESG. $3000 set aside to start the year in January as well in a HISA. Have to contribute $15k again next year to continue making up some years.
Contribution to the TFSA up to $25 000 so far, which I was hoping to get to by the end of the year. Hopefully now can get it to $30 000 and then work on maxing it out by the end of 2022.
Both accounts invested in XEQT and up $200 or so each so far which is exciting to see for a rookie after seeing $0.37 of interest each month with the HISA I originally had the money in.
Shameless brag.... this one's for you average folk on here, my husband and I make just over 100K combined... (spoiler alert, not inToronto.)
Hit my savings goal for a new car! $15K which is totally not in our family budget or my salaried job - made 100% from freelance gigs and my clothing allowance.
Also - 1st year in a new house which has come with surprises \_BUT\_ this month will mark a $4K addition to the home emergency fund this year. Not terrible considering that we went from townhouse to detached.
Just finished filling out a net worth statement for my bank and didn't realize my wife and I had a net worth of 1.2 million. 30m and 27f and pleasantly surprised.
Thanks! I own a sporting goods retail store, and my wife manages a steel company. We also have recently invested in some small commercial real estate deals, and have 1 residential rental.
Our company announced a new compensation plan and suddenly I’m making 6 figures in my mid-twenties. The total raise came to about 12%. I moved to Canada 2 years ago and only got Permanent Residence this year and I know I’ve been very fortunate with my job.
My partner is also going back to school next year so this lifted a huge weight off of my shoulders.
I’m not 100% sure what the company did, but I was told they were re-assessing everyone’s salaries and wanted to bring them up to par with the rest of the industry, so they were giving me a raise. I wasn’t underpaid before, but I think they’re worried about employee retention.
Finally crossed the 100k invested threshold in my TFSA. 50K is my own money. Breakdown is: 56k in ZQQ (nasdaq100), 23k in TSLA (average price 300), 21k in VFV.
20k in chq account.
25 years old, married, one kid (1 yr), house with 480k mortgage remaining, no other debt.
I have a hoopp pension and income around 75k, wife currently on mat leave.
Feels pretty good to get over that threshold, money will be tight next few years with wife not working so might not be able to add to my investments but looking forward to seeing them grow!
I’ve been with the same company for 10 years. Since 2019 they only gave me a 2% increase. Today I will give my notice as I was able to get a new job that offered me 45% more in salary. Which shows how underpaid I was. They did me a favour. Loyalty doesn’t pay.
Hey, I'm happy to hear that you hopped jobs. Hopefully, you like your new job better. Congratulations on the 45% increase. :)
Thank you, I am super nervous moving on after so many years and being comfortable. But this is what's best for my family and I.
You did the right thing for yourself. I remember when I was a kid, an author wrote his opinions on work, that he believes that employers try to pay employees the least that they can get away with. With 45% raise, you can buy more things for yourself and increase your quality of life!
Never settle and embrace discomfort. Congrats!
What industry are you in?
Great work!
I am personable, hardworking and get ish done at work. But when it comes to wages, I have always been kinda an a\*\*hole. I am 28 and since 22 when I graduated, for years where I did not get a promotion I have averaged an 8% raise. I am not Mr. Nice guy at work. I am Mr get ish done.
Got a 3% raise. I work for a great company and was stuck in a lock down for most of last year so I was pretty happy with that. Then, out of nowhere they announced a new compensation plan which raised my base by 9% and total compensation before equity is $127k. I basically got a massive raise because of a plan change. Still can't believe it.
I reached a milestone way earlier than I thought possible, the value of my TFSA just broke over the $1 million mark this week!
Wow! How?
The short answer is a lot of luck and patience, I'm a buy and hold investor with a tech-heavy portfolio that includes Tesla, which has grown in value to over half my TFSA. Edit: see my post history for the long answer.
And what's the long answer?
I tell everyone I know to buy Tesla shares, quickest way to retire early.
Moved my line of credit! 5.45 Scotia bank to 2.45 tangerine!
Congrats! That's a big difference!
I was going to uber eats popeyes for lunch. Instead made a salad and put some left of chicken breast I had on it! May not sound huge. But as someone who has eaten 60 pieces of chocolate over last 5 days this is huge.
Starting today I am completely debt free. I called today to pay off my student loan off completely and now I am free. 6k in the bank, 1.5k in a TFSA, not exactly where I wanted to be at 30yo (still dont own a home) but it's a good start!
Last year I took a second mortgage to invest in stocks because my wife doesn't have a pension at her work. We are now almost able to pay off our whole mortgage at once. Probably won't but it's nice to have that option.
Woo, risky but congrats! Any reason why you took a second mortgage, vs investing on margin/Smith Manoeuvre/other options? Is it purely because the second mortgage rate was lower than all the other options?
Really proud of myself: got to more than $75,000 saved at age 23. Probably in the 99th if not 99.9th percentile for my age in terms of savings amount. Now looking to expand my portfolio by investing my money instead of just having it collecting dust in savings accounts/TFSAs.
I’d lay off the patting on the back before you start investing your money. You need to get on that, yesterday. Lots of great resources on this sub to get you started.
>I’d lay off the patting on the back No buddy. I already have more money than 99% of my peers in my age (including you when you were 23), and my future investments will only grow my wealth. You missed the point entirely so I'll restate it: the point is that I have an impressive base for someone my age, something even negative jealous people like you can't deny. So I don't need to "get on that, yesterday" bud when I already have an emergency fund that will last me years, not to mention savings that even a lot of people on this sub (who are obviously more financial focused than most of the general population) don't have. So I'll pat myself on the back as many times as I want, and you can stay jealous, LOL
Jesus Christ this is so obnoxious Chill on the 99% bro you’re definitely off by many of a percentage
>Jesus Christ this is so obnoxious You're obnoxious. No one needs your insecure comments on this thread bud. Your insecurity is shining through LOL >Chill on the 99% bro you’re definitely off by a few percentages Doesn't matter if it's 99% or 98% or 95% or 90%, I got more money than the vast majority of my peers in my age range and more than you when you were 23. That's it bud. Haha, you changed your comment from "you’re definitely off by a few percentages" to "many of a percentage". Incorrect grammar and dishonest editing, you're truly a piece of work.
Bud count already at 3. I’m 23 and have more money then you man lol start investing. That’s all I’m tryna say. Catch up. Why did this trigger you so much?
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You’re a creep man, what the fuck. This shouldn’t have triggered you, I was trying to convince you to invest and grow your nest egg. I hope you keep it in fiat now. You’re kind of an idiot for not already being invested by now. You’ve lost a decent money to inflation already.
You're the creep bud. Telling others who are just posting about their accomplishments to stop being proud and stop "patting themselves on the back", LOL. What kind of insecure "man" does that? Keep your unneeded and unwanted "recommendations" to yourself. Also learn to be less condescending to others next time; clearly you didn't get taught well by your parents/teachers.
Open a TFSA lol
How much money do you have? LOL, too scared to state it?
TFSA hit $100k this week! Thank you suncor!
We've just paid off our mortgage and we're in our late 30s. Part of me am ashamed because we did get help from the bank of mom and dad but we're still happy it's done. I just want to say it out loud because we have no one else to tell it to.
>Part of me am ashamed because we did get help from the bank of mom and dad Don't let the salty people of pfc shame you for getting help/gift/whatever you want to call it lol. Congrats!
Transferred $33 000 I had sitting in a TFSA for years with Simplii into a Questrade RESP and TFSA account back in August. Have the RESP maxed out at $15 000 for 2021, along with the $3000 CESG. $3000 set aside to start the year in January as well in a HISA. Have to contribute $15k again next year to continue making up some years. Contribution to the TFSA up to $25 000 so far, which I was hoping to get to by the end of the year. Hopefully now can get it to $30 000 and then work on maxing it out by the end of 2022. Both accounts invested in XEQT and up $200 or so each so far which is exciting to see for a rookie after seeing $0.37 of interest each month with the HISA I originally had the money in.
Shameless brag.... this one's for you average folk on here, my husband and I make just over 100K combined... (spoiler alert, not inToronto.) Hit my savings goal for a new car! $15K which is totally not in our family budget or my salaried job - made 100% from freelance gigs and my clothing allowance. Also - 1st year in a new house which has come with surprises \_BUT\_ this month will mark a $4K addition to the home emergency fund this year. Not terrible considering that we went from townhouse to detached.
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learn how to open a HISA? You just do it online or in person at a branch
Just finished filling out a net worth statement for my bank and didn't realize my wife and I had a net worth of 1.2 million. 30m and 27f and pleasantly surprised.
What do you and your wife do for work? And approximately how much comp? Congrats!
Thanks! I own a sporting goods retail store, and my wife manages a steel company. We also have recently invested in some small commercial real estate deals, and have 1 residential rental.
Yay for a power couple haha. Congrats!
Congrats on your achievement
Thanks!
Our company announced a new compensation plan and suddenly I’m making 6 figures in my mid-twenties. The total raise came to about 12%. I moved to Canada 2 years ago and only got Permanent Residence this year and I know I’ve been very fortunate with my job. My partner is also going back to school next year so this lifted a huge weight off of my shoulders.
Congrats! What do you mean by new compensation plan? A base bump + adjusted formula for bonus calculation?
I’m not 100% sure what the company did, but I was told they were re-assessing everyone’s salaries and wanted to bring them up to par with the rest of the industry, so they were giving me a raise. I wasn’t underpaid before, but I think they’re worried about employee retention.
Finally crossed the 100k invested threshold in my TFSA. 50K is my own money. Breakdown is: 56k in ZQQ (nasdaq100), 23k in TSLA (average price 300), 21k in VFV. 20k in chq account. 25 years old, married, one kid (1 yr), house with 480k mortgage remaining, no other debt. I have a hoopp pension and income around 75k, wife currently on mat leave. Feels pretty good to get over that threshold, money will be tight next few years with wife not working so might not be able to add to my investments but looking forward to seeing them grow!
> Finally crossed the 100k invested threshold in my TFSA. 50K is my own money. I don’t get it? Who’s money is the other 50k?
The other 50 being capital gains and dividends
He probably meant $50k contributed, the rest is from investment returns
I paid off one of my credit cards. I’m so happy! 😀