Frugal living in rural Canada

Where are you and where are you going?
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CECTPA
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Joined: Tue Apr 19, 2016 9:27 pm
Location: Canada

Re: Frugal living in rural Canada

Post by CECTPA » Mon Nov 21, 2016 7:18 pm

Okay, I started working in the new capacity (desk job, not bedside nursing). Mon to Fri, 8 to 4, no night shifts. It feels like I'm a cheater... 100 times less stress. Busy, but manageable. I get the same rate per hour ($41), but no modifiers, because we only get modifiers when working nights, weekends or some crazy hours. So, I'm losing a bit of income, but the benefits are disproportionately bigger. With this kind of change in pace and with this change in stress levels I'm not in so much rush to retire. Not to the extent I was before :) But I'm on track, it's all good :)

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CECTPA
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Location: Canada

Re: Frugal living in rural Canada

Post by CECTPA » Fri Mar 10, 2017 11:32 pm

I'm quite discouraged and disheartened about the perspectives of my FI.
It became quite clear that my Mom back in Russia will not be able to get back to work after her back surgery. Everything is okay with her, she's not sick or anything like that. But she's retired and her pension in Russia is not enough to cover basic needs.
So, I have been sending her money for a year ($6000 total) and with that she has been living a decent life, though quite frugal, which I encouraged, as I can't and won't support a lifestyle more luxurious than mine.
Anyway, now it is clear that FI becomes quite distant in my situation. As my parents age their needs will become more and more expensive. I just need to decide right now what shall I do. Either back to killing myself at work with all that overtime and therefore better savings rate. I don't know how long I would last though.
Or just continue doing what I'm doing with rather low stress level and still enough income to cover everything but more distant FI.
For the last year I
sent my Mom $6,000
saved and invested $40,000
brought debt (mortgage) from $88,000 to $60,000

But for the majority of the year I was working full time, and now I'm 0.8 FTE and much more healthy mentally. My parents are relatively healthy and happy. I'm enjoying my job and my life.

Everything is good, even though FI is not that close. Oh well, I'll figure it out.

JamesR
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Re: Frugal living in rural Canada

Post by JamesR » Sat Mar 11, 2017 10:57 am

Would the extra time give you opportunities to do a side project that could generate some income or help reduce expenses?

Perhaps if you have a good portfolio allocation you can achieve FI sooner than you think, maybe ~7 years, especially with the magic of compounding interest etc.

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CECTPA
Posts: 105
Joined: Tue Apr 19, 2016 9:27 pm
Location: Canada

Re: Frugal living in rural Canada

Post by CECTPA » Sat Mar 11, 2017 11:32 am

JamesR, I have many options, actually, on what to do, I just need to pick a strategy.

The struggle right now is philosophical, the paradigm shift in my life. Since I have dependants now with unpredictable circumstances, I can't dream about full freedom anymore. Which is okay, I will readjust my dreams of decent life.

K60
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Re: Frugal living in rural Canada

Post by K60 » Mon Mar 13, 2017 8:05 pm

Would it be worthwhile to encourage your parents to join you in Canada?

boris10475
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Re: Frugal living in rural Canada

Post by boris10475 » Tue Mar 28, 2017 12:38 pm

Hey сестричка,
my vote is to stay on easier job and do what you got to do helping your family. If you burn yourself out on more demanding job I do not think the prospect of earlier retirement will appeal to you much. Looks like you are doing fine with your $$$ numbers, just keep doing what you are already doing. You can't bring your parents to Canada, can you?

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CECTPA
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Location: Canada

Re: Frugal living in rural Canada

Post by CECTPA » Tue Mar 28, 2017 2:18 pm

K60, boris10475,
That thought did cross my mind, but I could not see how it would be advantageous. My parents both are very involved in the community life where they live, have many hobbies that are only possible there and can't speak English. Plus it would be more expensive. I don't see any point.

boris10475
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Re: Frugal living in rural Canada

Post by boris10475 » Tue Mar 28, 2017 3:03 pm

Well, there are certain advantages too, as not having to have to travel to Khabarovsk to see your parents ( unless you have to go anyways), access to better?? and cheaper?? medical facilities in Canada, opportunity to be closer to your parents when they get older and will need some regular assistance, maybe sharing some living expenses with them as well. But as you said some people have strong emotional and community connections to their homeland, so this is a tough one.

James_0011
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Re: Frugal living in rural Canada

Post by James_0011 » Tue Mar 28, 2017 3:15 pm

wouldn't it be cheaper because they don't have to pay rent? Anyways, its not your fault that they didn't plan ahead better....

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CECTPA
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Location: Canada

Re: Frugal living in rural Canada

Post by CECTPA » Tue Mar 28, 2017 7:10 pm

boris10475 wrote:
Tue Mar 28, 2017 3:03 pm
Well, there are certain advantages too, as not having to have to travel to Khabarovsk to see your parents ( unless you have to go anyways), access to better?? and cheaper?? medical facilities in Canada, opportunity to be closer to your parents when they get older and will need some regular assistance, maybe sharing some living expenses with them as well. But as you said some people have strong emotional and community connections to their homeland, so this is a tough one.
There are advantages but they outweighed by disadvantages 10 fold. They own (debt free) a nice place in St Petersburg (they don't live in Khabarovsk) and the utilities are cheap. And as I said in the first post my house is really tiny. We would have to find a bigger place because there is no room for 4 people.

Medical care is overrated. Health care does not make people healthier. I actually call it "sick care." Healthy lifestyle, that I was able to promote to them had very dramatic results. They are off all meds, active and happy. I have very unorthodox views on health care (as an insider) and I don't think that it is better in Canada. It is a topic for a very big discussion and the bottom line is – I'm not concerned about their access to health care.

Remember, I live in the bush. And I don't have any plans of moving somewhere else. My parents have access to the world's best museums, operas, ballet, and fun events. My Dad sings in a choir, my Mom can have a Senior Citizen $5 ticket to opera. They are really having the best life possible there. And I'm happy to support it. But imagine here. Sitting at home, driving us crazy (Mom chats a lot), maybe watching some Russian TV. What's the point? Then, because of our "great" healthcare, when it's time to go, they might be "saved" and turned into demented Long Term Care zombies. So that our "wonderful" facilities can sustain life for decades and charge the provincial budget for all that.

Also, long term care in Canada is not free. You still have to pay, and in Russia for the same amount of money you can have a better personalised care at home.

boris10475
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Re: Frugal living in rural Canada

Post by boris10475 » Tue Mar 28, 2017 8:25 pm

It makes sense now. I used to go to college in St.Pet. back in the 80s. Great city, no doubt about it.

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