Special

Is she everyman’s dream? Barely 30, badger-aggressive, six-figures, killing it in the boy’s club as an equities trader, based in Vancouver. “So,” she barks into her headset between clicks, “here’s the deal.” I wait in abject anticipation. “I wanna retire, like those other people you did it for. Eight years.”

Turns out that would make less than her forty. She fantasizes following in the footsteps of my two egomaniac, insufferable clients who achieved millionaire status by thirty, told their bank overlords to shove it, and set off to consume the world.

What would you do when you retire, I asked?

“Travel. Hang out. You know.” And you’d be surprised how many times I hear this from people of the same age. It seems the notion of ‘career’ has shrunk from something over 30 years to something closer to a decade or a dozen. Hedonistic, entitled, special. Working for decades is so analog. So Boomer.

Hungry girl has assets of $110,000 and no debt. Not bad compared to peers. But not enough to turn into a lifetime income fund in eight years. Not even close. Besides, it’s all in high-interest savings accounts and GICs. Turns out the equity tosser doesn’t trust stocks. Interesting.

Generalizations usually suck, and say more about you than them, but it seems some common themes are at play. This was emphasized by the moister-wrinklie slugfest in yesterday’s comments section. The kids are uber-educated, insanely risk-averse, materialistic, disloyal to employers, financially illiterate, and know everything. They may be savers, but not investors. They’re employees, not entrepreneurs. Like most young, they’re lefties. A key part of social justice is taxing the crap out of old people with assets. That’s only fair. They’ll die, anyway.

Boomers aren’t used to the political pendulum swinging away from them. For their entire lives they’ve been in the majority, moving markets with their wants and desires, living for the most part in the expansion and inflation their sheer numbers created. But now the moisters outnumber them, more so daily. The son of the father is prime minister. Wealth and assets are under attack, with taxes rising. It’s all too much.

More conflict lies ahead. The kids will push for equal treatment of all dollars – whether earned as an employee (like them), a small business guy, monied investor or old retired divvy-collecting dude. Look for T2 to play to the crowd in his second term with an increase in the capital gains inclusion rate, a potential change to the tax treatment of dividends and even start contemplating a wealth tax. Maybe’s we’ll even end up like Norway – a moister fav – where you can go online and punch up anyone’s tax return.

Well, the solution for all of this – unrealistic expectations of retirement, wealth envy, financial ignorance – is for everyone to invest money. That way even the screwiest Mill can see another path forward, one of their own design with unlimited potential for success (or failure). Start with the TFSA. When that’s full split money between an RRSP (to shift tax into other years) and a non-registered portfolio (to benefit from capital gains and dividends). Stick with it, max the tax-free account with pre-authorized debits from your bank account and never, ever listen to [email protected], eschewing costly mutual funds and brain-dead GICs.

Have a balanced portfolio, with 40% in safe stuff and 60% more growth-oriented. Since rates are rising, keep the bond exposure slim (they pay nothing but reduce volatility) but have lots of rate-reset preferreds which swell along with bond yields. Carefully weight Canadian, US and international assets, taking into consideration that we’re currently on fire, Trump’s a time bomb, the US is expanding, Europe’s in recovery and nobody should bet against China. Never hold individual stocks (unless you have seven figures to invest and can achieve diversification – which requires about 60 positions).

If you have a little money, hold three or four ETFs. If you have a lot, then 17 should be about right. And keep a small cash position, since that’s a defensive asset as well as ammo if an opportunity arises.

So, 2% cash in a HISA, 20% in a mixture of government, corporate, provincial and high-yield bonds plus 18% in preferreds make up the safer stuff. Put 5% in REITs, then hold 16% in Canadian equities, an equal amount in US markets and 23% in internationals, for the growth portion. Rebalance once a year. Put higher-taxed stuff (bonds) in a tax shelter. Reserve the TFSA for fast growers (like emerging markets). Enjoy a 50% tax break on capital gains in your non-registered. And don’t forget about income-splitting with your squeeze, which can be done through a spousal plan or maybe a joint account.

Or, you can go to a pathetic blog, whine about people with more than you and plan to retire shortly after puberty. Good luck.

302 comments ↓

#1 Darryl on 09.20.17 at 6:32 pm

Place holder

#2 Darryl on 09.20.17 at 6:32 pm

So the first guys don’t get it :)

#3 ShawnG in TO on 09.20.17 at 6:35 pm

i first thought six-figures means 100k+ in salary. but 100k in saving and want to retire? wah ha ha ha. too much weed

#4 TheSpangler on 09.20.17 at 6:36 pm

That’s awesome, an equity trader not trading equities in her own account.

#5 Screwed Canadian Millenial on 09.20.17 at 6:36 pm

So just to sum up many of the replies I received in the previous post. I have to reiterate how you boomers are so oblivious to how entitled, spoiled and arrogant you come off. Everything is about YOU, what you can GET, what the government owes YOU. It’s never enough. I’m debating to stop calling you boomers, and start calling you GIMMEs. Admittedly, you’re not all boomers but you sure as hell act like it. You truly are the Gimme Generation though.

https://imgur.com/qF0UuN2

Not an ounce of thought goes to those less well off than you. Nor towards paying it forward to the next generation. Forget about even trying to get you to care about the planet and maintaining a secure and prosperous future for the generations to come up behind you. Everything with you is GIMME NOW. In many ways you are like children. But even worse, all those characteristics that they say are the root of pure evil: greed, narcissism, arrogance, total self-involvement and a completely absent sense of empathy, they’re not just traits with you, you actually uphold them as values. You’re proud.

There’s so much pain and suffering going in this country but you’re completely blind to it. You just don’t care.

Half of Canadians making less than $33,000 per year.

Food bank use back to recession levels.

Food bank usage in Toronto back to recession-era levels, report says
https://www.thestar.com/news/gta/2017/09/18/food-bank-usage-in-toronto-back-to-recession-era-levels-report-says.html

Immigrants being exploited as slaves basically.
http://projects.thestar.com/temp-employment-agencies/index.html

Temporary Foreign Workers exposing Canada as a human trafficking organization afaic.

Foreign workers allege ‘life savings’ paid for Mac’s jobs that didn’t exist
http://www.cbc.ca/news/canada/british-columbia/foreign-workers-class-action-1.4297799

According to you, it’s so terrible for the economy that hard working Canadians get a raise. Yet supposedly at the same time we have a massive labour shortage. Which is it? You don’t even make sense.

But instead of all this, your top concern is that you don’t have a $10k TFSA. THAT’S supposedly the big problem in our society today. Give me a break. Wake up, look around you, get outside of your safe space, volunteer at a food bank.

You can’t have it both ways you know. You don’t want wages to go up (on anyone but yourself), you want to bring in all this cheap labour because you want cheap stuff, and then you complain that your taxes have to go up. Well the tax revenues have to come from somewhere, it’s going to come from where the money is. What’s left of it anyways. Most of this country is tapped out, as Garth has documented.

Hate me all you want, all I’m doing is giving you a different and accurate perspective of the other side of Canada. One that you have somehow completely closed off in your minds and also in what’s left of your hearts.

#6 TurnerNation on 09.20.17 at 6:39 pm

Historical fact: the 60-70s USA Hippies got booted away – into an overseas war.

Today’s local Millenial Hipsters, perennially pouting and scared shiftless over ‘the system’ might heed this lesson.

I can picture it: T2’s Million Manicure Army.

(How’s the weather in NK, now; and do they have Wifi?)

#7 blobby on 09.20.17 at 6:39 pm

People go on about these new tax rules being more “fair”.

I am personally all for fairness and equality.. so therefor, as a business owner, if my tax rules are the same as employees, I demand equality in perks too. So therefor I want to be able to claim EI. I want employees to lose paid holidays, if they want to go on vacation, they don’t get paid for that time. I want employees to not get pensions, rsp matching, etc etc.

I want employees to have to put $20k plus of their own money into a job before they start work. And go through a few years of not getting paid, with random months of not getting paid at all.
Etc etc etc… I think that’d be fair..

#8 TortyPapa on 09.20.17 at 6:40 pm

Thirty with $110,000 in assets? Retire in 10 years? Give me a break. Rent alone in Vancouver for 2bd/2bth is like $3000 without cable/internet/electricity. If you want to eat and live like a human being? Forget it. I am 32, have a lot more saved than that and can’t imagine retiring in 10 years, not even in 20, or 30. Life is getting more and more expensive don’t you know? Why don’t you tell her to put everything into Bitcoin? :D

#9 Screwed Canadian Millenial on 09.20.17 at 6:41 pm

In regards to Norway and those of you like Long Branch Apprentice complaining that it’s too expensive, yeah it’s expensive to you because you’re a broke Canadian with Loonie bucks. Norway is for Norwegians. They have a strong currency and high wages.

This comment from a Norwegian sums it up. https://imgur.com/hJQbYMM

Did I mention the $1 TRILLION (USD) in the bank?

Norway’s Oil Fund Hits $1 Trillion; Meanwhile, In Alberta..
http://www.huffingtonpost.ca/2017/09/19/norway-s-oil-fund-hits-1-trillion-meanwhile-in-alberta_a_23215451/

Damn, too bad Canada doesn’t have any oil eh…

inb4 some boomer screams about the NDP even though they’ve only been in charge for 2 years.

https://www.youtube.com/watch?v=uGTzbj3fRSw

And Garth is right, every Norwegian’s tax return is publicly available. What a crazy place! I can only wonder what you GIMMEs are hiding in those tax returns of yours.

#10 Money Miser @ Money-Miser.com on 09.20.17 at 6:41 pm

Financial freedom is definitely achievable in 10 years at 30 years old earning 6 figures, but it will take some extreme frugality to do so and she wouldn’t be living a very lavish lifestyle once she gets there. Her savings are quite small considering her salary, which tells me she spends a lot of her money on crap she doesn’t need. Not very conducive to financial freedom in 10 years.

Financial freedom is more about increasing your savings rate than it is investing wisely. Your Millennial Revolution couple retired on $1,000,000 but $800,000 of that was cold hard savings.

I actually have Garth to thank for the discovery of the world of financial freedom, now I blog about it several times a week!

#11 Tim on 09.20.17 at 6:42 pm

Trudeau is stupid enough to sell us out to China, but not stupid enough to mess with the tax rate on dividends or capital gains–he’ll lose the election if he does.

#12 bb on 09.20.17 at 6:43 pm

You forgot. They flip (invest in) homes as well.

#13 Jon on 09.20.17 at 6:43 pm

Really boomers don’t give how about all those 100,000 dollar gifts they give their kids to buy a house?

#14 BC_Doc on 09.20.17 at 6:44 pm

T2 Is making me consider moving my wad— across the border to the US where I was born or to a certain Western European country full of the little people where I also hold citizenship. We’ll see how the shoe drops and subsequent to that what my accountant recommends.

I’m interested too to see whether one solution may involve pushing small business owners into Individual Pension Plans which allow more income to be taken out of corps for tax sheltering.

Happy times.

#15 Screwed Canadian Millenial on 09.20.17 at 6:45 pm

A few more replies…

http://www.greaterfool.ca/2017/09/19/the-better-way/#comment-542123

#153 Long Branch Apprentice on 09.19.17 at 10:12 pm

You realize TFSA’s are funded by after tax income right? Who gets tax free capital gains? Do you even invest bro?

Another clueless idiot without a dime to his name crying about how the system is unfair. You’re either trolling the blog dog’s tonight, or an idiot, but most likely both.

Have fun being poor the rest of your life.

———-

Yeah no kidding. It’s a very simple point, I’m trying to figure out if you are deliberately being so uninformed about it. I’m trying to be as nice as I can. If you didn’t have a TFSA, if they didn’t exist, and you made gains in an investment account, you would have to pay capital gains tax on those gains. What is so hard about that for you to understand? Even Garth made a similar point on #276

I thought you people were supposed to be financially literate?

#16 Dirk Diggler on 09.20.17 at 6:45 pm

I have worked on trading floors for 17 years. Only a few should be there. They are the financial model people. The rest are in one of two buckets – guys who went to upper Canada college and hot girls. That’s it. The purpose they serve is of no value other than moving money around to play tax games. That’s it.

#17 Alex on 09.20.17 at 6:45 pm

lol… with 100K she wants to retire in 8 years !!!

wow !!

My net worth is 3M with more than half of that invested with 35% in bonds, preferred (8%), 65% in canadian, US and Intl stocks.

And I am 40 and will continue to work til my portfolio will reach the 5 or 7M mark… It is so fun and I must addictive making money and enjoying the fruits of my labor..

Great post Garth !

#18 Wage Gap and Mark Deflation on 09.20.17 at 6:46 pm

I hope that she wasn’t complaining about a “Wage Gap” earning those six figures while tens of thousands of Native Canadians are living in 3rd world conditions and barely survive on $5 a week under oppressive treaties.

Maybe $5 is Mark’s Deflation theory? But a feminist will allege that her six figure salary is a “Wage Gap?”

I’m oppressed!

#19 Screwed Canadian Millenial on 09.20.17 at 6:47 pm

Shoutout to Keith #17

http://www.greaterfool.ca/2017/09/19/the-better-way/#comment-542040

and Pepito #89

http://www.greaterfool.ca/2017/09/19/the-better-way/#comment-542058

You guys nailed it.

#20 TheSpangler on 09.20.17 at 6:49 pm

#5 Screwed Canadian Millenial

Dude as a Millenial myself, stop crying and blaming others on your problems. Most people are screwed as they are horrible with money, like $4 Starbucks twice a day. I watch my cash and put money in my TFSA and my recent hobby is buying stocks. I want the $10k limit back.

Suck it up and play the cards you are dealt, stop crying. Get a hobby, may I recommend riding a bike ;).

#21 Welcome to Slurrey on 09.20.17 at 6:49 pm

I’d like to see you do another post on the state of YVR real estate Garth. I’ve been following the blog forever. In 2013 you were calling for a correction, only to see values Bloat to ridiculous levels in 2015 and 2016….. with 2017 not much has changed. In order for your call for correction to be correct…… should we expect 2013 YVR prices sometime in the future ………… or is minimum 1 million dollar detached homes in Slurrey/Langley/Fraser Valley area the new norm ? Your thoughts……

#22 Cheese on 09.20.17 at 6:50 pm

I work a 30k job(now unemployed, this is scary), I am 36 years old. In the language of millenials, i have gone full #monkmode and in three years saved $150k. I could retire on $250k with my current expenses, it would be hard, but like Epictetus I would survive even as a slave.

My generation and younger I think would do well to read Marcus Aurelius, learn to live below your means, be respectful and be dilligent, and dont cling to a house or material things (these things can burn down, be repossesed).

I did not work full time until the age of 32. If i can do it, so can the others who have the advantage of being younger than myself. You can live a good life with very little money if you apply yourself, it is a challenge; but without challenge life would be boring.

Cheese.

#23 LALALA on 09.20.17 at 6:50 pm

“Never hold individual stocks (unless you have seven figures to invest and can achieve diversification – which requires about 60 positions).”

Where did you get this number from? Everything I have read puts the number of individual stocks needed for diversification at around 25-30

#24 PK on 09.20.17 at 6:50 pm

Screwed Canadian Millenial is so triggered right now

#25 Geoff on 09.20.17 at 6:54 pm

https://docs.google.com/document/d/e/2PACX-1vTmj7ZYs8tTpLsFa8eGMDKsbnhwNsvzbFgxtb5eEdPBCY0PLNq4RiAt13evqotKDQ4kMxQeKbQGS6T6/pub

I think a lot of people here might find this interesting.

#26 Not SCM on 09.20.17 at 6:56 pm

Okay SCM. I Give 10% before taxes to charity to help out the other guy. What do you do?

#27 Zapstrap on 09.20.17 at 6:56 pm

License plate is from BC. Must be Surrey.Just gotta be.

#28 Screwed Canadian Millenial on 09.20.17 at 6:59 pm

Last few things. No Garth isn’t paying me to increase engagement on his (formerly) pathetic blog. But perhaps he should. I hear he’s good for it, even with Trudeau punishing him so much.

No I’m not trolling. I’m dead serious and I back everything up with facts.

To the whiniest of you boomers who are crying that your safe space is being disrupted and who want me banned. I would just say that Garth clearly sees the tremendous value that I contribute to his (formerly) pathetic blog. So deal with it. You need to hear some alternate viewpoints.

Oh and one more thing about Norway. I would be welcomed with open arms. I actually care about the greater good. It is you GIMMEs who would not be welcome there. Sounds to me like many of you belong in Somalia.

Did you know Norway’s sovereign wealth fund does not invest in “unethical” or “immoral” companies. Crazy right?

https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway#Excluded_companies

Boomer heads just exploded.

Mr. Turner, what is my flight fund up to? Enough for first class I hope. Just like my commentary.

That’s all for now. I’ll be back later.

#29 Ian on 09.20.17 at 6:59 pm

I have a new theory to run by you dogs (and Garth).

Reading Robert Shiller’s book “Irrational Exuberance” currently. In it he talks about how both newspaper articles, and investment clubs, in the US rise and fall based on how the stock market is doing (they peak around market tops, then decline substantially as people become very negative on the stock market as it falls).

I’m wondering if we can measure this on this blog by the number of daily comments? Recently Flop mentioned the “Who Are You” post got over 900 responses back in 2016. So I’m wondering if before the top in housing in the spring, this blog had on average way more comments.

Mostly left (or at least by my observation) are the bear pack and those who have valued Garth’s advice all along. So I would be curious to see if the interest in the blog has declined as housing has fallen, if it will really fall as the housing decline accelerates. Or maybe it will increase as Garth becomes famous for warning people, since there are so few sources to get accurate information on this.

Would be fun to graph this over time!

#30 @ Millennial on 09.20.17 at 6:59 pm

You’re preaching to the choir…Boomers grew up in a time when it was legal to lynch Blacks and segregate them and falsely accuse them of crimes.

Boomers grew up in a time when the Canadian government wanted to “Take the Indian out of (Aboriginal) people”.

Boomers grew up in a time when it was illegal for a Black person to be seated near a white person.

Boomers supported the Iraq invasion in 2003.

Boomers consist mainly of our college professors who promote campus hysteria which is apparently the same witch hunts used against Black men in Jim Crow.

Boomers do not understand what you’re saying, because they grew up in a different time.

Go back to troll school. You suck at it. — Garth

#31 HigherTaxedStuff on 09.20.17 at 6:59 pm

The “Higher Taxed Stuff” that should be in your RRSP is not necessarily bonds. It’s whatever stuff would result in the highest tax $ paid annually. If that means Canadian equities, despite forfeiting the dividend tax credit, then so be it.

If your bonds pay 2% interest and your Canadian equities are paying you 4% dividends, you will pay more tax annually on your Canadian equities than on your bonds even after accounting for the credit. THEN you will pay tax down the road when you sell it and report a taxable gain.

I like keeping my bonds (US and Canadian) taxable and keep Canadian preferreds in my RRSP. US equities ETFs go into the RRSP too because the 15% withholding tax savings is material in the long-run like a nasty MER. Canadian and all other equities go into the TFSA until it is tapped out. Now its time to hold equities in the taxable account because you are too rich (yay!). Go Canadian in the taxable account for the rest of the year and just rebalance your under-represented US and Intl stocks in the RRSP and TFSA respectively next year when you get more RRSP and TFSA room. Don’t sell to rebalance and incur trading costs because why bother paying trading costs just to micromanage your asset allocation? Once per year is enough rebalancing.

#32 trader on 09.20.17 at 7:02 pm

An equities trader who doesn’t trust stock?
Where do you find these people?
Surely she has studied what these stocks do in long term.
Or maybe she is assigned to the penny-stock desk?

Weird.

#33 Love this Blog on 09.20.17 at 7:02 pm

#5 Screwed

I am not a boomer. It am trying to gain perspective
On your position. It would help if you could tel us:
Since you are anonymous I don’t see a problem

Years in the workforce
Annual income
Amount saved in RRSP
Amount saved in TFSA

Achievements at work i.e.) only 27 years old and supervise a staff of 7 at a —- company

#34 Doug t on 09.20.17 at 7:03 pm

My son is 23 – doesn’t expect anything from anybody – dislikes capitalism for the most part – hates greed and consumption – doesn’t drive – lives 5 min from work – feels like the world is completely FUBAR and just tries too live a relatively stress free life – he’s young but figuring it out.

#35 AK on 09.20.17 at 7:04 pm

“Look for T2 to play to the crowd in his second term with an increase in the capital gains inclusion rate, a potential change to the tax treatment of dividends and even start contemplating a wealth tax.”
——————————————————————-
There will not be a second term for T2.

#36 Ian on 09.20.17 at 7:05 pm

Sorry I meant to say ‘newspaper articles about the stock market’, not ‘newspaper articles’.

#37 HigherTaxedStuff on 09.20.17 at 7:05 pm

Oh! don’t forget: fill out your W-8Ben-E forms for all your accounts so that the withholding agents know to give you the lowest withholding tax rate possible on your US investments in whatever account you hold them in.

#38 n1tro on 09.20.17 at 7:07 pm

#295 IHCTD9 on 09.20.17 at 4:16 pm
#291 TnT on 09.20.17 at 3:50 pm
#282 IHCTD9 on 09.20.17 at 3:15 pm

Comedy Gold!

“that broke his brakes” – the jack just jacked like it always does. The reason buddy ended up with a leak is because he positioned the jack directly underneath the brake lines AND THEN JACKED HIS 2 TON CAR OFF THE GROUND with the lines sandwiched between the jack and the floor pan. The jack is innocent.

“must have been fun having these pointed out while figuring out how to change a tire” – I could have just thrown him the jack and left. I also wanted to get home before dark.

“like most people” – I don’t know anyone who can’t change a damn tire good grief…

“that you offered” – I offered him a great tool to complete the task at hand – you’re saying because he ****** up his car using my jack – that somehow I bear some responsibility for his broken brake lines?

“nice guy, that’s for sure” – Next time, I’ll just assume the kid has a handle on the situation, and just drive home I guess.

“nope, just a hard ass” – First time I’ve ever been called a hard ass for lending out a tool. Should I stop lending out tools so I can be a nice guy?
————————————————-
IHCTD9,

You know what your problem was? That you gave a shit and helped the kid out at all. Should have just drove on by. As for your critics, I guess they wanted you to get under the car and change the tire for the kid too. God forbid you scratch up his rims while changing the tire where then you would liable for the damages. There are lessons in life that can only be learned by failing. I’m sure the kid will know how to not to change a tire from this point on. Or at least, know to pay for a CAA membership.

#39 Random Canadian Millennial on 09.20.17 at 7:09 pm

Garth generally has solid advice and I show up here every day to get some amusement out of this circus show, especially the comments section.

As an Non-Screwed Canadian Millennial – meaning paid-off student loans, zero debt obligations, renting, tapped out RRSP and TFSA accounts – I get a serious laugh everyday, as well as waves of pity, for the zealous SCM comments.

Dude, you could be turning all that effort and intensity into actually doing something about your situation, like maybe making more money or pursuing a project you love. Instead, you seem to be expending into the literal black hole that is the Greater Fool comments section.

I mean, if you’re just trolling and you get some genuine enjoyment out of that, well please do continue to inflame the dogs around here as it is hilariously entertaining.

But if not, there are probably better uses for your time and energy. I know I’ve wasted some of mine typing this comment…

#40 crowdedelevatorfartz on 09.20.17 at 7:14 pm

@#5 Screwed Canadian Millenial

Apparently irony escapes you.

My generalizations about all millenials being lazy is about as ludicrous as your generalizations about Boomers.

All Boomers bad. Materialistic, self absorbed, planet killers

All Millenials good. Altruistic, charitable, planet savers.

Careful with the slagging.

Last time I walked by a Starbucks it seemed to be full of latte slorping young people quaffing $6 frappachinos while texting on $900 cellphones. ( Where do cellphones end up when next years model comes out? The Landfill next to the millions of coffee cups?).

My personal observations of young and old seem to be this.

While most old or young people talk about recycling and “saving the planet” …. put them in an anonymous crowd and the garbage hits the ground with equananimity , paper, bottles, cans . You name it. It becomes someone elses problem…
My personal fave was the bag of dirty diapers dumped not three feet from an empty garbage can ( methinks not too many Boomers having kids these days).

Eventually you’ll realize that it isnt just Boomers that are greedy, self absorbed, glutinous pigs that think nothing of squandering the worlds natural resources.
If you doubt me just check the expensive restaurants of any city to see young and old flashing Vutton handbags and Rolex watches.
Boomers have trained their children well
Hopefully you’ll realize that as you grow older and aquire more debt or obligations due to education, job status, family, whatever….. your options become limited
Just wait until the company you work for does something that totally disgusts you but you are forced to accept it because …….. financially you have no choice to leave.

Its called the real world and it isnt politically correct and it doesnt care about empowering its employees. All it cares about is profit.
So be careful at work with who you share your socialist environmentalist view of the world because they may want to climb the ladder of “success” by stabbing you in the back.

Last time I checked…..Greed and envy isnt just a Boomer trait and Keurig coffee shots arent biodegrable so if you want to save the world a little bit at a time…… grab a pound of ground coffee and stuff it in an old dirty work sock and throw it in a pot of boiling water for the bitter taste of reality sans the barrista

#41 NP on 09.20.17 at 7:14 pm

Hi Garth,

are Canadian equities best held in a TFSA, or in an RSP?

#42 dosuth on 09.20.17 at 7:17 pm

#5 Screwed Canadian Millenial on 09.20.17 at 6:36 pm

…”I’m debating to stop calling you boomers, and start calling you GIMMEs.”

BBWWAAA…pot calling the kettle black. Venting a spleen to say nothing. I believe this article is about a Millenial wanting to retire before 40…hug, go figure?

Too close to the chest? Your perspective is far from accurate and it appears you are the only one who “hates” you.

#43 S.Bby on 09.20.17 at 7:19 pm

Moisters wanna work a decade and retire as millionaires but Boomers now routinely work into their 70s.

#44 Money Miser @ Money-Miser.com on 09.20.17 at 7:20 pm

If she is earning six figures, has a $100,000 portfolio, hits a 65% savings rate (very difficult) and obtains a 7% ROI on her investments, she can retire in 8 years. Somehow I doubt she will be doing most of that (especially the savings rate) and even then I doubt she would enjoy the lifestyle in retirement if she did retire that early.

#45 Greyhelm on 09.20.17 at 7:20 pm

To SCM – Don’t let the idiots on here get you down. I’m reminded of the old saying “You are entitled to your own opinions, but not your own facts.”

You usually cite sources to back up your arguments – most of your critics just spew. You reference Piketty’s Capital in the 21st Century, the most important work on economics in decades. Do you think any of your critics have read it? Certainly not the ones who are still spouting the (disproved) “trickle down” economic theories. Their minds are closed to facts that don’t agree with their opinions. Besides, reading Piketty is admittedly hard work (which they profess to value).

Where I disagree with you is making it a generational thing. Not all boomers gave up reading and thinking when they left school. And not ALL millennials actually read or thought much while IN school. We are divided less by age than by our degree of commitment to continuous learning and honoring facts.

In that vein, two must-reads for everyone, but especially for conservatives whose minds are not fully closed:

The first was already recommended here awhile ago by a fellow blog-dog: The Spirit Level (stupid title). It is written by a couple of British epidemiologists. In their work studying health and disease around the world, they noticed a pattern: negative outcomes (such as infant mortality) were higher in countries with wide income disparities (inequality) and lowest in countries with narrower income gaps – not necessarily richer countries, just more equal. They wondered if this applied to more than just health outcomes.

Using the best statistics available, they ranked countries on a scale based on the degree of equality/inequality. Surprisingly (to me anyway) Japan is among the most equal societies on the planet, followed by the usual suspects (the Scandinavian countries, Germany, France, etc. – you know, the “socialist” countries). Canada, Australia, New Zealand are somewhere in the middle of the pack, and among the most unequal societies on earth are the United States and pretty much all of Latin America with the exception of Cuba, which is among the most equal.

Then they looked at the stats for a wide variety of socio-economic-health factors. For the most part, they found that if it was a negative outcome (infant mortality, rates for suicide, incarceration, etc.) they were highest in the more unequal societies, and vice-versa. Good outcomes (such as literacy rates, longevity, women’s education, etc.) were generally highest in the most equal societies. There are all kinds of nuances, but for that you’ll have to buy the book. (Get the hard copy as there are lots of charts, which don’t translate well to the screen.)

When they measured “happiness” (On a scale of 1-10, how satisfied are you with your life?) – well, you can guess the results.

Is happiness the goal in life? For that, you should read Yuval Harari’s Sapiens: A Brief History of Humankind. I won’t burden you more, but suffice it to say that it is one of the most intelligent and deeply thought-provoking books I have read in a long time. And a lot easier read than Piketty.

Ya gotta keep learnin’ guys. You’re never too old.

M68ON

#46 Debtslavecreator on 09.20.17 at 7:21 pm

Nominal asset prices will likely rise sharply with a couple of severe corrections along the way but you cannot trust this government and in theory investing savings in a balanced portfolio and using TFSAs and RSPs in theory are no brainers. History shows a different result in real after tax returns. Also ALL governments attack retirement savings in the final stage of the reset
The most likely path remains a negative real return after tax
So T2 will increase div tax and cap gains and your big gains before the big collapse will be eaten up by taxes, and what’s left will be destroyed by an increasingly devalued loonie
Money in RRSP and TFSA in “speculative” investments
or being traded “frequently” may and probably will be subjected to full taxation
One way or another sitting on financial investments for the bulk of your net worth will appear great on the surface but over time most will be getting wiped out as increasing stock and precious metal prices and eventually real estate prices are taxed away and what’s left will used to spend 5-600/week for basic groceries at no frills and 10-15k in property taxes
Trying to look for the positive here and I love the markets and they will survive in the long term but I don’t trust big governments – the study of post bubble crises and the resulting sovereign debt crisis’s have taught me to be skeptical of radical governments
Nothing but a modest RRSP and cash accounts for me

#47 Arlene on 09.20.17 at 7:24 pm

SCM#5
A wise elder once told me” don’t point your finger at anyone as two are pointing back”. To you dear SCM,
quid Pro Quo squared.

#48 Stone on 09.20.17 at 7:24 pm

#5 Screwed Canadian Millenial on 09.20.17 at 6:36 pm

I’ll break my own rule and respond once. We don’t hate you (well, maybe a little), we actually feel sorry for you. You’re so insecure you feel the need to respond to everyone who doesn’t agree with you. No one who is comfortable in their own skin would ever feel the need to lash out the way you do. Small, petty, narcissistic. That’s all I get off of you when I see your responses on here. It’s truely sad. Wouldn’t it be nice if everyone was rich? I’d like that but probably not realistic but it’s a nice thought. I’ve said my piece. Now let’s see if you prove me right by responding or actually ignore me. LOL. Bet you can’t resist.

Now onward to more important things. Garth, nice post. Love it when you talk investments. It’s more exciting to me than crumbling, mouldy real estate but that’s fun too. Sad about the stock pusher unless of course she’s recoverable. With what she has to start off with and a bit of patience, she could get there.

Also, breaking news!!! More dividends coming in as some of my ETFs went ex dividend today. I’m so excited. Portfolio YTD now sits at 4.77% and when the dividends are paid out for this month will be at 5.11% if nothing else changes (let’s hope it goes up in the meantime). Just at the cusp of a 7 figure investment portfolio. Probably will hit that milestone sometime in the first half of next year. Life is grand! Hoping all is going well with the other blogdogs and their portfolios.

#49 Mortgagebrokeron on 09.20.17 at 7:25 pm

Millennial.

I am not a boomer.

We live in a free enterprise economy. people who earn a low wage can increase their skills and earn more money. You start at minimum wage. Develope more skills and go get a better paying job or start your own business.

If you don’t hustle and work why would you expect the govt to help you get ahead?

Imagine you have two students in school. One smokes pot or drinks alcohol and doesn’t take class seriously. This student gets a grade of 40
The other is focused on achieving a 90 average and does extra work to do so.

Do we get the teacher to take away some of the achievers grades and give it to the lower achiever?

This is very similar to penalizing self employed people like me.

I WORK a lot. And hire people and give them employment. I get no ei, no vacation pay, no hourly pay, no pension plan and no one pays my cpp for me and I am ok with that.

I work hard to build equity in my company, now Trudeau wants to take close to 73 percent of it away.

I pay more than my fair share in wages and taxes already.

If we want fair share and equal treatment then take away govt pensions for civil service to the tune of 73 percent.

I think that is a ridiculous idea, and don’t think it is nice.

Why then is it ok to do that to small business?

Ps. Trudeau truly serves the billionaire class. He isn’t going after his friends who have money in Panama is he

#50 Bitcoinnaire on 09.20.17 at 7:26 pm

Why would anyone buy US equities at this point in time?

Bonds do nothing, preferred pay a meager 4% dividend, REITs are in the toilet etc. because everyone is by nature risk-averse and everything is indexed, further blending the asset mix into one mediocre mass of junk.

The young investor has to look at disruptive technology like Bitcoin or be really savvy and seek value in distressed companies or temporarily depressed securities.

If 1% of the current 200 trillion dollars parked into all of the financial instruments in the world migrates into Bitcoin as fiat currencies continue to devalue, Bitcoin promises at least four-digit growth if simply bought and held long term.

#51 BS on 09.20.17 at 7:26 pm

Half of Canadians making less than $33,000 per year.

Can we get off this half of Canadians reporting less than $33,000 thing as if it means half the country is living in poverty. Trudeau’s wife probably reports less than $33k income. Is she living in poverty? Half of the Westside of Vancouver where houses start at $3M report below $33k income.

What matters is family income plus family assets. Most individuals making under $33K have a partner who has income, plus assets that do not show up as individual income like a house, a business, RRSPs or TSFAs. There is also plenty of non-reported income like foreign income, basement suite rentals, flipping houses, tips, working for cash, etc. When tax rates are high people do what ever they can to not report income. Expect to see small business income fall off a cliff when T2 implements his fair tax plan.

#52 Canadian equities on 09.20.17 at 7:27 pm

#16 Canadian equities are better held in your TFSA. Withholding tax, what other countries charge for the profit you make off their companies, is waived in RRSP depending on the structure of the investment. The TFSA isn’t recognised outside of Canada, so withholding taxes apply. Except for bonds or a balanced fund I wouldn’t recommend holding anything Canadian in your RRSP. Makes more sense to put them in your TFSA or Taxable accounts.
Still, buy some EM in your TFSA for growth. If you’re under 35 I’d do 50 EM and 50 Canadian in my TFSA. And use ZEM. Not a Canadian wrapped US ETF. Bad tax consequences for that. ZEM is the only Canadian passive broad index in town that holds the securities directly. XEM and VEE are both wraps. And lame RBC uses smart beta, which is a joke.

#53 Dolce Vita on 09.20.17 at 7:29 pm

#5 Screwed Canadian Millenial

Millennial misspelled.

This is not the Save the Children nor the Sierra Club blog.

Nor will it be the Schopenhauer Appreciation Society that you are trying to turn it into with your incessant pessimism.

It is about finance and investment in Canada and how to achieve economic freedom.

A topic not unique to any age group.

Nor should you assume that Boomers here that bitch about taxes etc. do nothing for their fellow citizens in the form of altruism or philanthropy.

#54 BCIT student on 09.20.17 at 7:30 pm

Our parents will be leaving us a big inheritance.

That’s why we only need to work until 40.

We will do the same for our kids. It’s called paying it downwards.

Don’t hate the messengers please.

#55 JustMe on 09.20.17 at 7:31 pm

Early retirement is easy to achieve. Just ask the residents of the local homeless shelter how they did it. Then do what they did.

#56 BCIT student on 09.20.17 at 7:35 pm

I forgot to add that most of us “millennials” will have families in our late 30’s or early 40’s. That’s why the inheritances will come when we are 40. Our parents had us late too. My parents will be almost 80 (if they are still alive) when I am 40. They are also welcome to live with me in their later years.

In my culture, money will even be passed down while the parents are still living.

40 is the new 65! Don’t hate on one generation because the paradigm has shifted. Your generation (boomers) have internet when your parents didn’t.

#57 45north on 09.20.17 at 7:35 pm

tax changes to small business:

John Ivison: The government released its annual financial report Tuesday, closing the books on fiscal 2016-17.
The report was good news for the Liberals but it also indicated attempts to raise nearly $3 billion by increasing the top rate of income tax to 33 per cent had precisely the opposite effect — income tax receipts for the year fell $1.2 billion.

http://nationalpost.com/opinion/john-ivison-know-the-dirty-little-secret-about-taxing-the-rich-it-doesnt-work

“attempts to raise $3 billion by increasing the top rate of income tax had precisely the opposite effect”

as I’ve said before Bill Morneau’s proposed tax changes will result in less revenue. Employees will have to make up the difference.

Ontario seems to be taking the opposite approach:

Ontario Introduces New Measures to Help Businesses Save Time and Money
Changes Will Help Small Businesses and Cut Unnecessary Red Tape

https://news.ontario.ca/medg/en/2017/09/ontario-introduces-new-measures-to-help-businesses-save-time-and-money.html

Bill Morneau has made a mistake. His proposed tax changes aren’t going to survive.

#58 Tim on 09.20.17 at 7:36 pm

The biggest difference from a financial perspective is that many people older than mid 50s were able to buy a house with an average income and in large cities for many it has doubled or tripled in value, whereas now many young people with professional qualifcations good paying job are priced out of the market. So while those who have done well may have worked hard, much of the difference can be explained by random dumb luck, buying a house before money laundering and speculation have happened on a large scale.

#59 Akashic records on 09.20.17 at 7:38 pm

Just catching up after returning from overseas.

“Why does T2 think it’s okay to gut TFSAs, create a new tax bracket and whack business owners? Because, politically, it is. The federal Libs are out to destroy the NDP (currently trying to pick a leader), so they can suck off the soft socialists and rule Canada forever.
It’s a plan. So far, it’s working.”

Good analysis. Pitting against each other various groups is the bread and butter of politicians.

It is somewhat disappointing that you seem to play the same game on your blog by focusing on how to slice the cake, instead of analyzing why is the cake shrinking.

The shrinking cake is the root of the problems, how to slice it is a noise and diversion for the masses.

Your standard reaction would be, of course that we can’t do anything about the cake, at least we have to learn how to get a relatively bigger slice.

The problem with this train of thought is that it is an “employee mentality”, it is a Trudeau/NDP territory.

It would be truly refreshing to see a political party that has a platform that asks the fundamental question: why is the cake shrinking and how can this be changed.

Anything less is fools game.

#60 Ronaldo on 09.20.17 at 7:39 pm

$110,000 is not a lot of money when you consider that it was the average price for a single detached home in Vancouver in July of 1980, 37 years ago. That was about 4 times the average wage of 1 person. In fact my wage back then was around $25000 and my home was valued at $105000. 4 times my income. I was 33 at the time and my house was paid for.

What does that $110,000 buy you today? Well according to the chart below, it would buy you 6% of the average price of a single detached house in Vancouver in January of 2016 which was $1,826,541. That price represents 25 times medium ‘family’ income.

So you see, $110,000 is peanuts compared to what it was 37 years ago when things were kinda normal.

https://globalnews.ca/news/2531266/one-chart-shows-how-unprecedented-vancouvers-real-estate-situation-is/

#61 Happy Housing Crash Everyone! on 09.20.17 at 7:41 pm

Hey SHYSTERS remember when I told you about this house https://www.realtor.ca/Residential/Single-Family/18661715/132-LAURELCREST-AVE-Toronto-Ontario-M3H2B3-Clanton-Park which sold in just 5 days in April for $2,118,000? (I emailed Garth the post card from the realtor bragging about the sale/sale that fell through) Anyhow you can see its listed for $1,849,000 and its just sitting there. This was after they tried to sell it for $1,950,000 for WEEKS. The housing crash is going from bad to worse. NOTHING is selling. NOTHING! You dirty lying SHYSTERS promised sales would pick up. Sales are so bad you dirty rotten SHYSTERS refuse to publish the numbers. YOU DIRTY SCUM. Did I mention you are SHYSTERS? Driving down finch through Bayview and Young and for sale signs everywhere and nothing is sell in the once HOT HOT HOT areas.

Happy HAPPY Housing Crash Everyone!

#62 Still employed in AB on 09.20.17 at 7:42 pm

Let’s not tar my whole generation as basement dwelling socialists. Some of us paid for all of our education (privately without a penny of provincial funding) moved out at a reasonable age (21) and never looked back. It wasn’t easy and sometimes I was even discouraged while looking for the next job. If you can’t find a job where you live then move to where there is work. My grandparents, and my parents moved countries, all I had to do was leave my province of birth.

#63 Greg on 09.20.17 at 7:43 pm

You’re correct, Garth. Many moisters are “uber-educated”. It doesn’t mean they know anything. A BA today is probably like getting grade 13 in Ontario in the 60’s and 70’s. There is a college for everyone no matter how poor an applicant’s grades may be. Failure is basically impossible as students are allowed to keep re writing essays and take exams and tests over (if they even have to write them) until they are successful. If standards are extremely low and everyone gets a degree then the degree is meaningless. The right to attain a university education should be earned. It should not be an entitlement.

#64 Capt. Serious on 09.20.17 at 7:44 pm

We need to take this to the next level and talk about value and small cap tilts. This is porn for finance dorks:
http://mba.tuck.dartmouth.edu/pages/faculty/ken.french/data_library.html
Talk to me about book-to-market value baby.

#65 Sponge on 09.20.17 at 7:49 pm

So… ’bout 17 ETFs? Cool. So I’m thinking Canadian REIT, Canadian TSX, US Stock large, med, small, International developed, emerging, gov bonds, real bonds, corp bonds, hybrid bonds and prefs… That’s 12.. what am I missing Mr. Guru?

#66 Sponge on 09.20.17 at 7:51 pm

Can I Assume Prov and Fed should be separate bond etfs for one?

#67 Bankish on 09.20.17 at 7:51 pm

People can be so unrealistic if they don’t have long term life experience. One has to go through the ups and downs of the financial system to grasp that it takes a hell of a lot of equity to bring in a good retirement income.(different amounts for different people)
Garth send her back to the school of life(and work) and tell her to contact you in 20 years and maybe,just maybe you and her can talk retirement.

#68 Ronaldo on 09.20.17 at 7:52 pm

#5 Screwed Canadian Millenial on 09.20.17 at 6:36 pm

Quite the troll aren’t you?

#69 young & foolish on 09.20.17 at 7:53 pm

Wow … GIMMEs, you’ve been told!

#70 JustMe on 09.20.17 at 7:54 pm

The West is repeating patterns that led to the downfall of every high culture studied by J.D. Unwin.

After studying cultures as diverse as the Babylonians, Greeks, Romans, Anglo-Saxons, and dozens of other groups Unwin found a 100% perfect correlation between the practice of heterosexual fidelity and cultural development. Across 5,000 years of history, without exception, once restrictions on sexuality are lifted, especially female sexuality, a society destroys itself from within, and is later conquered from without.

It is exceedingly optimistic to think America and Europe (and Canada, eh?) will continue to prosper despite adopting practices that are perfectly correlated with decline, especially when one looks at the evidence of a civilization that is killing itself from within.

https://relampagofurioso.com/2016/05/30/jd-unwin-detailed-how-feminism-would-destroy-culture-30-years-before-womens-lib/

#71 Bob Dog on 09.20.17 at 7:58 pm

The Everything Bubble is ready to pop.

http://www.mauldineconomics.com/editorial/infographic-the-everything-bubble-is-ready-to-pop/zhb

Time to go to cash and wait for the correction.

#72 young & foolish on 09.20.17 at 7:58 pm

“Well, the solution for all of this – unrealistic expectations of retirement, wealth envy, financial ignorance – is for everyone to invest money.”

How is this the solution if thirsty future governments will tax it all away anyway ???

#73 bigtowne on 09.20.17 at 8:03 pm

The Vancouver equity trader is far from reality and asleep at the wheel keeping savings out of equity markets.

Most women realize after all the duty and work and investment of taking care of kids is finished you are then free to really put the pedal to the medal and be at the top of your career. In my case after 40 my whole career was very very excellent and I turned out to be the “alpha” professional I never knew I was.

For women it is all after 40 or after the kids are no longer your top priority and when a woman can focus on her goals without the distractions we are like the best woman and the best man all in one.

#74 For those about to flop... on 09.20.17 at 8:06 pm

#275 waiting on the westcoast on 09.20.17 at 2:54 pm
Who knew that Flop was causing global climate change to increase???

https://gizmodo.com/more-evidence-that-pink-snow-will-be-a-problem-for-the-1818540014

//////////////////////////

Hey Waiting,I knew I should have registered Pink Snow.

Those damn scientists and all their science…

M43BC

#75 Al on 09.20.17 at 8:07 pm

“If she is earning six figures, has a $100,000 portfolio, hits a 65% savings rate (very difficult) and obtains a 7% ROI on her investments, she can retire in 8 years. Somehow I doubt she will be doing most of that (especially the savings rate) and even then I doubt she would enjoy the lifestyle in retirement if she did retire that early.”

Numbers look good for her!

A single person living on 35% off a big shot equities trader salary would prolly be more then most Canadians earn. I hope Garth didn’t shoot her dream down and instead directed her to the right resources (I.e. mrmoneymoustache.com). She can then evaluate her situation for herself. Go girl!! ignore the naysayers!

#76 rainclouds on 09.20.17 at 8:07 pm

#5 SWM

There are poor boomers. they get divorced, sick, make stupid personal decisions, go to the food bank, care about the environment, donate to charities, sponsor refugees.

there are many folks your generation who are successful, positive, industrious, open minded while Some are greedy,stupid, tiresome,boring dicks.

reasonable people understand , We are ALL fallible AND equally capable of great acts.

The blame game speaks volumes

#77 Bruce on 09.20.17 at 8:08 pm

Garth, I have only been a reader of your blog for a few weeks, but this was the funniest yet – great stuff – just the laughter I need at the end of the day.

As for the T2 tax increases around things like capital gains inclusion rate increase, and changes to dividend taxation – I don’t think we have to wait until a second term for that. I think that will be next year, working to really stoke the class warfare and garner as many NDP votes as possible heading into 2019.

Not the wealth tax though. That will be a 2nd term item. By then, the tax changes done, almost here + those mentioned above will likely have taken a good size bite out of the economy, so additional taxes will be necessary.

#78 Spock on 09.20.17 at 8:08 pm

Minimum wage increase in Ontario

What a lot of folks fail to realize including our very own Screwed Millenial is that all the increases in the US were for specific cities.

The increase to $15 over here for the entire province. So you have the minimum wage worker in Cornwall making the same as the guy in Toronto. Same goes for payout for business owners.

You think the business owners in rural areas are going to be able to handle 40% increase (with no increase in business volume – at least in GTA and bigger cities you stand a chance).

We will see where this experiment by these crooks in power goes. Of course Wynn has shown such good acumen over the years when it comes to saving money for tax payers and not wasting excess of tax payers funds.

#79 penguin on 09.20.17 at 8:20 pm

Talked to a 21 year old at a party last weekend. He is convinced that 1/3 of his generation will never be capable of holding down a full-time job for their entire life. Many of his friends are also mad with the upcoming minimum wage hike. Some millennials worked hard to get up to $15. Soon their job wages will be no better than the slackers again.
ON48M

#80 bellend on 09.20.17 at 8:21 pm

poor dear didn’t sign up for a red hot capital gains rocket YVR house??? tut tut

#81 Pete on 09.20.17 at 8:24 pm

#78 Spock

What’s that conspiracy call agenda 21? This will force people into the cities while bankrupting all the small towns.

#82 crowdedelevatorfartz on 09.20.17 at 8:24 pm

Time for Screwed Canadian Millenial to move in with other Millenials to plan their next SJW “battle”?
Well I have JUST the Millenial Mecca.

The Collective named “Old Oak” in London England soon to be followed by 2 more Collectives in Jolly aulde Blighty.

Hopefully they can sit in one of the meeting spaces provided and discuss their ethical investments in Unilever stock. Unilever worth $176 Billion dollars and it prides itself on its shunning of dividend payments to shareholders to pay its employees a “fair wage” while reducing it carbon footprint. Uh Oh…..here comes Warren Buffet to make an offer…..will Unilever shun his multi billion dollar offer and take the high road or continue to stiff its shareholders……only time will tell.

Then we have our Millenial Warriors discussing the generational ponzi scheme known as “Pay as you go Pensions” where upon theMillenial generation paying into the pension plan is actually paying the previous Boomer generations retirement. The horror.
Start having lots of babies Millenials cause thats the only way you’re retiring with a hope in hell….

Please refer to The Economist Sept 2 edition pages 56, 58 and 59 for more info on all things Millenial.

The unfairness of it all is truly breathtaking

#83 Bruce on 09.20.17 at 8:29 pm

Crazy housing prices

Does everyone on this blog live in GTA and YVR? Does no one live in Montreal, Ottawa, Kingston, London, Halifax, Edmonton,…? Most of the country outside of GTA and YVR has (relatively) affordable housing.

I live in Ottawa, and the prices in my neighbourhood (quite nice but not flashy) have barely increased in 7 years. Helps to keep the property taxes under control (though they still seem to rise at about 4-5% a year no matter what).

While the variety of jobs is not the same, there are good opportunities in many cities if you look. Some cities might not have the restaurants of GTA, but better quality of life in other ways (green space, outdoor activities, good schools, better hockey teams:)

#84 Pete from St. cesaire on 09.20.17 at 8:30 pm

Hey Garth, I wish you’d cover the issue of the taxes and penalties to be paid when someone transfers their savings out of Canada. Many people on this blog have a great deal of money and they should be finding out how to legally export their after-tax dollars to Switzerland, Liechtenstein, Cayman Islands, etc, so as to side-step the inevitable cash-grab looming in the not too distant future. Moving their wealth away combined with the farsighted planning of obtaining (buying) a second citizenship (many countries offer this for as low as $300000) is the best way to protect their wealth, at least until they have left this mortal coil.

#85 Jungle on 09.20.17 at 8:32 pm

The boomer generation had it so easy, high paying manufacturing union jobs (think GM), no education required, at 18 so many become police officer with only high school diploma. ETC so many more examples.

No global compitition, no jobs shipped overseas, no technology/computers replacing workers.

In-laws bought detach house in Toronto on one income, raised two kids, two cars, vacations, all while working a parts counter. Sorry, but same standard not happening today. WAY harder now.

Cheap houses that made everyone wealthy for doing nothing.

Now given how easy it was, look at how many boomers screwed up. The debt, lack of savings, an retirement investments. Isn’t all their money in RE and most still have debt?

Stereotype much? — Garth

#86 Lead Paint on 09.20.17 at 8:32 pm

Screwed Canadian Millenial, many people value their freedom and don’t want to live in your utopian socialist society. This includes most people that make $30 k or less per year (many of whom are boomers). They see what happens in most places that implement socialism and don’t want it. It doesn’t work. For every Norway their are ten Venezuelias.

You have given yourself the position of being their champion, but frankly most will want nothing to do with you (however I’m sure you’re use to that).

Many of us who aspire to be wealthy create a ton of jobs and tax revenues, that pay a lot more of their hospital bills and social services than your whining ever will.

I mentor my millennial employees on how to grow their skills, succeed and be productive, as boomer mentors did for me. What is it you do to contribute?

#87 Bruce on 09.20.17 at 8:35 pm

# 78 @ Spock

I am sure the Great Wynne (if still around) will come up with yet another government program to provide some assistance for businesses in “certain affected regions (read: Liberal ridings). Just funnel more gov’t debt spending at the problem…keep the (target Liberal voters) happy enough.

#88 SamIAm on 09.20.17 at 8:35 pm

This is nuts, I don’t like the prospect of living under lefty regime in my retirement.

I am thinking of packing my bags and going to some tax haven, far far away.

Any suggestions ?

#89 FLHTK on 09.20.17 at 8:36 pm

Wow! The man has spoken! All hail that blog tonight. If that isn’t helpful I don’t know what is!

#90 Ian on 09.20.17 at 8:37 pm

Norway ‘doesn’t invest in unethical companies’…after making all its $ in petroleum. Hilarious!

Wouldn’t Panama be a better example? $20bln a year for 4mln people for letting ships pass through.

#91 TO THE GIMME GENERATION on 09.20.17 at 8:41 pm

Funny how no one addressed the elephant in the room when SCM basically pointed out,

HOW WERE THE BOOMERS PLANNING TO PAY BACK THEIR 650 BILLION DOLLAR DEBT ACCUMULATED OVER DECADES?

Crickets.

#92 Doug t on 09.20.17 at 8:43 pm

#70

You are so right – the west has painted itself into a corner -‘just from my perspective in the world of recycling for 25 years, on Sept 1st the government of China informed the WTO that it’s was banning ALL recycled plastics and mix waste papers worldwide from importation. The West has used China as a landfill for the last 30 years and they have had enough – it will not be long before many products in your recycle curb side box end up in your garbage heading straight for landfill just like the old days. China is also working to free itself from the “petro dollar” and back the yuan by gold – things change and BIG changes are coming.

RATM

#93 Ben on 09.20.17 at 8:43 pm

I reached financial freedom at age 35 (defined as net worth of 2.5 million). But I’m not “retired”. I still work. When you retire, you rot. Your brain rots. Your body rots. And you die early. Working/employment is healthy for you, irrespective of money/income. Why do you think billionaires still work? You think Warren Buffet will ever retire? Not a chance.

#94 Bruce on 09.20.17 at 8:44 pm

Hey Screwy,

I am going to help you out. You seem to have a sh*tty job & life, so here is a job opportunity for you. The industry I work in (telecommunications) has a real hard time finding workers with the right skills. That’s right – many companies want to hire and can’t find enough candidates with the right skills. And no, it is not about paying too little – these positions start in high 5 digits or low 6 digits (yep – we are talking around $100k/year). It is just that few have the right stuff. And no – we don’t get to bring in TFW for these…can’t bitch about that.

What are those skills? IP Network engineers and architects that have strong knowledge in cloud computing and software defined networking (look them up – they are real!!!). Also required are strong interpersonal and team work skills (OK – you will struggle with this – but surely anything is possible).

These skills are not easy to get – it will take hard work – but you can get started right by using that Internet thing-y that you are obviously on every day, but seem to only post rants. For no money other than you Internet access, you can get the basics learned in these areas and then determine the right paid courses to take (do not have to be college/university though).

Even better, these jobs are very mobile. You don’t have to live in GTA – come up to Ottawa. Much cheaper housing, you can easily bike to work, and are right next door to nature.

You can thank me later.

#95 Ian on 09.20.17 at 8:44 pm

You know the expression ‘if you’re not a liberal before 25 you don’t have a heart, if you’re not conservative after 25 you don’t have a brain’?

SCM is a little slow on the uptake so I give him until about 35. Maybe 40.

#96 JustMe on 09.20.17 at 8:45 pm

Little known facts about the Canada Pension Plan (CPP)

A pension benefit is calculated by dividing the individual’s earnings, by the contributory period multiplied by the CPP benefit rate, which is 25 per cent.

It generally makes sense to take the CPP/QPP early if you have stopped working. The contributory period continues until you start taking the pension or age 70 whichever is earlier. If you are no longer contributing, the zero earnings during the non contributory period before starting your pension may lower the overall benefit collected even if you waited until age 65.

http://www.bfinancial.com/documents/1777294/2215987/Little+Known+Facts+About+The+Canada+Pension+Plan.pdf

Working past 65? Beware this Canada Pension Plan oddity

The government works in mysterious ways. The intent behind some of their pension rules is mystifying at best and counterproductive at worst. A great example is a little-known anomaly in the Canada Pension Plan rules that involves what happens to CPP benefits and contributions at the age of 65 under different scenarios.

It is unfortunate that people who continue to earn employment income (after age 65) would be penalized.

https://beta.theglobeandmail.com/globe-investor/retirement/retire-planning/working-past-65-beware-this-canada-pension-plan-oddity/article34835504/

Everyone should take CPP at 60. No exceptions. — Garth

#97 Doghouse Dweller on 09.20.17 at 8:46 pm

#35 AK
There will not be a second term for T2.
———————————————————
Its debatable.
I was in the pharmacy getting my BP meds and the gaggle of pharma girls behind the counter were going giddy, giddy, gaga, over Justin,
“He is in town !” “He is over there right now !” ” giggle, giggle”.
They were ready to flock out the damn door.
I needed a double dose by the time I got home.

#98 AB Boxster on 09.20.17 at 8:47 pm

#30 @ Millennial on 09.20.17 at 6:59 pm


Boomers grew up in a time when it was legal to lynch Blacks and segregate them and falsely accuse them of crimes.

———————————————————

Ah yes.
The good ole days when you could burn crosses and lynch the blacks, and cheat the Indians out of their land for a few beads and some hooch.
Brings a tear to a boomer’s eye, remembering the fun we had.

Holy shit. Do you morons even have half a clue?

Though Carlin did say ““Think of how stupid the average person is, and realize half of them are stupider than that”

You must have be on the lower end of the stupid half.

#99 $33,000 thing on 09.20.17 at 8:52 pm

#51 BS on 09.20.17 at 7:26 pm

Half of Canadians making less than $33,000 per year.

Can we get off this half of Canadians reporting less than $33,000 thing as if it means half the country is living in poverty. Trudeau’s wife probably reports less than $33k income. Is she living in poverty? Half of the Westside of Vancouver where houses start at $3M report below $33k income.

What matters is family income plus family assets. Most individuals making under $33K have a partner who has income, plus assets that do not show up as individual income like a house, a business, RRSPs or TSFAs. There is also plenty of non-reported income like foreign income, basement suite rentals, flipping houses, tips, working for cash, etc.

——-

It would be interesting to know that how many of the “$33,000 thing” is reported on T4.

Probably those are the people who very unlikely to have meaningful family asset, RRSP, TFSA, foreign income, basement rental, etc.

#100 Cheese on 09.20.17 at 8:56 pm

#95 Bruce

Hell, I’m unemployed and self taught, tell me more about these ottawa telecom jobs (i’m in orleans). Is this mostly hyperviser layer stuff?

#101 Millenial_86 on 09.20.17 at 8:56 pm

It is just me or did Garth just blow up the weigtings?

Just you. — Garth

#102 Long Branch Apprentice on 09.20.17 at 9:02 pm

#15 Screwed Canadian Millenial

What are you trying to prove? That I should be taxed on income, and then taxed again on any profits as a result of my putting my money to work? You do realize there is a massive pension fund liability issue in this country, (due to your hated Boomers) and by limiting the TFSA you are doing a disservice to the Canadians that actually have the discipline to save some of their wages.

Do you actually invest anything or not? Because it sure sounds like you don’t have a clue about it.

So 1 comment on the internet proves what about Norway? I’ve actually worked there in real life (exploration geologist), and seen what life is like there firsthand. Have you ever been there? Or do you do all your research from a keyboard?

Ok, you bitch and whine about how half of Canadians make under $33,000. What’s your solution to the problem of Canadian wages? I already told you that there are good wages to be made in technical trades. What industry to you work in? I’m legitimately curious.

You do realize the Ontario Liberals have racked up such a debt that now the 3rd most expensive item on the budget is interest on the debt? That’s roughly $11.5 BILLION in tax revenue that doesn’t go to any social services, infrastructure or anything else actually useful to actual citizens. What’s your plan to deal that? Not too mention the increasing debt on the federal level.

#103 pppppapa on 09.20.17 at 9:07 pm

Garth, she sounds like she spent most of her money.
$100 000 by 30 is not a lot.

Even if she manages to pull what I did in the last 5 years (500% increase in net worth with a lot of risks from starting a business). She will only be at $500 000.

As we approach the 10 year anniversary of the 2007, the risk of a recession and a downward cycle is increasing. I doubt she has much of a chance to pull it off in the next decade.

What did you tell her? 10 years of hunkering down with her main job and a side gig? That’s what will allow her to make 1 mil by age 40.

#104 Ian on 09.20.17 at 9:19 pm

#88 Sam

Plenty of options!! You can go all “Tim Ferriss”.

http://read.bi/2ysZRvE

http://www.lifebuzz.com/see-the-world/

#105 $33,000 thing on 09.20.17 at 9:19 pm

The leaders of the G8 seem to forget that the only reason to have Capitalism is broad economic prosperity, which enables democracy for the masses.

How to achieve this is the role of the leaders of these countries, who now seem to care more about everything else, driven by fancy ideologies for the supposed betterment of the world.

These leaders of the leading Capitalist countries don’t seem to have a clue that a poor Capitalist economy will also cripple democracy and it won’t be much different from other failed social experiments in economies and democracies.

#106 Ian on 09.20.17 at 9:24 pm

#91 Generation

By balancing the budget through spending a whole lot less so the debt increase stops, then making government a lot smaller so it needs less tax.

Put those crickets in your elephant!

#107 Victor V on 09.20.17 at 9:26 pm

Fighting with your spouse? A 2nd mortgage might fix your marriage and your money says Kiki Berg of Dominion Lending

https://dominionlending.ca/news/fighting-spouse-2nd-mortgage-might-fix-marriage-money

#108 Garth fan on 09.20.17 at 9:29 pm

“killing it in the boy’s club as an equities trader…”

Woo hoo affirmative action at its finest!

My fave part of this post is Gartho talking (and predicting) a T2 second term. Given Garth’s prediction record, it means there won’t be a second term for tru-dolt and he can go back to being a substitute drama teacher.

#109 For those about to flop... on 09.20.17 at 9:31 pm

This article is not all about unicorns….well ,actually it is.

Carry on…

M43BC

“The Most Disruptive Unicorns Around The World, in One Map

Unicorns are private companies and startups valued at over $1 billion. As access to technology, crowdsourced funds, and venture capital became more accessible over the last decade, here are the top ten unicorns that disrupted entire industries and retained private ownership during growth.”

https://howmuch.net/articles/the-worlds-unicorn-companies-2017

#110 Raging Ranter on 09.20.17 at 9:32 pm

Screwed Canadian Millennial, I don’t think your problem is economic in nature. Your posts indicate a high degree of sexual frustration.

#111 Smoking Man on 09.20.17 at 9:34 pm

I’m calling for a 73% tax on Defined Pension plans
It’s only fair.

#112 april on 09.20.17 at 9:34 pm

$61 – Hey Happy Housing Crash how are the “SHYSTERS” doing in BC/Lower Mainland? condos selling like hot cakes?

#113 Grafton Foggerty on 09.20.17 at 9:35 pm

What would a wealth tax look like in Canada Garth?

Scary for those with inflated houses and not much cash. — Garth

#114 Millennial Realist on 09.20.17 at 9:37 pm

The Boomers have already moved into political irrelevancy. They will have no control over elections from now on.

We are also moving into the mortal eclipse of the Boomer generation. A huge percentage of them are now likely to be deceased by 2024, and almost all by 2030.

Fairness and social and economic justice are coming like a loaded freight train at 100 mph.

So cute to see the outdated dinosaurs on here denying it.

Get your estates in order, Boomers.

Time is almost up.

#115 jess on 09.20.17 at 9:39 pm

https://www.bloomberg.com/news/articles/2017-09-19/malaysian-corruption-allegedly-spreads-to-canadian-real-estate

===========
“the industry brims with theories on what makes millennials tick” i hope they are more ethical

Black Edge: New Yorker’s Sheelah Kolhatkar on Wall Street’s Biggest Insider Trading Story in History
StoryFebruary 21, 2017

Monday, September 18, 2017
Two Men Charged in Northern California in Alleged http://calgary.ctvnews.ca/calgary-patients-upset-over-closure-of-private-medical-clinic-1.3595587

=========================
health care clinic charged with fraud
FOR IMMEDIATE RELEASE
Friday, September 15, 2017
Owner of Two New York Medical Clinics Sentenced to 84 Months for Her Role in $55 Million Health Care Fraud Scheme

The owner of two Brooklyn, New York, medical clinics was sentenced today to 84 months in prison for her role in a $55 million health care fraud scheme.

https://oig.hhs.gov/fraud/strike-force/

Highlights

National Health Care Fraud Takedown Results in Charges against 412 Defendants for Approximately $1.3 Billion in Losses
Strike Force Statistics

As of May, 31, 2017

Criminal Actions: 1,791
Indictments: 2,326
Money: $2,516,688,278

#116 Dmitry on 09.20.17 at 9:42 pm

SCM is typical loser.
SJW who is for all good against all bad. Save the world, save the planet, do good, hug trees, etc.
All typical loser activist cliche words that mean nothing.
What did you personally did to help someone else, even one individual (never mind planet or even Canadians)?
What you’re pushing on us here is typical left socialist/communist BS. Yeah, let’s confiscate from wealthy and divide among poor losers like you – that’s all you want. Welcome to communism. I’m sure you’ll enjoy it if JT and his team will do that to Canada to get votes to stay in power.
Oh, what about other liberal BS, why are you not mentioning Ontario sex-ed in schools that corrupts children (developed by sentenced sex offender for Wynne), gender identity BS, parental rights that are threatened by bill 89, eHealth ontario failure that wasted billions of dollars, ontario gas plants cancellation to buy votes, ornge scandals and the list can go on.
Why are you not demanding fairness and justice here, asking government to stop wasting billions (never mind re-paying wasted billions back to taxpayers)?
Does not fit your narrative of nice huge government that will confiscate and suck resources from working middle class to waste on votes buying and other crap that you so want and desire. You want to be permanently attached to these government tits to feed you with all these socialist programs, do nothing, money for free, why work if government will give it to you for free anyway?
Do not worry, smart people will figure out their way out of this. That’s why they’re there in the first place doing well.
Ans you’ll be loser for the rest of your life providing “another alternative left socialist/communist” point of view to another losers like you.

#117 MF on 09.20.17 at 9:46 pm

#22 Cheese on 09.20.17 at 6:50 pm

You mean you are not a stock picker with a net worth of 3 M?

A legit genuine post, which is an increasing rarity around here.

Thank you for that.

MF

#118 rainclouds on 09.20.17 at 9:47 pm

#91 GG and SCM Funny how no one addressed the elephant in the room when SCM basically pointed out,

HOW WERE THE BOOMERS PLANNING TO PAY BACK THEIR 650 BILLION DOLLAR DEBT ACCUMULATED OVER DECADES?

——————————–

did u vote. If so, for which party? You may be part of the problem ….

I’m betting no

#119 Smoking Man on 09.20.17 at 9:49 pm

#240 JohnnyBoy on 09.20.17 at 11:34 am
#55 Screwed Canadian Millenial on 09.19.17 at 7:00 pm
@#49 Garth
Lol you crack me up. Just don’t make me go with Smoking Man. I was browsing his Twitter and it gave me nightmares.
Ok time for a break. All these boomers lecturing me is literally triggering me right now. Jk jk I have to go get some avocado toast before the bistro closes.

Ok I’m packing my bags
____________________________________________
On his twitter link he does Periscope videos.
They are actually hilarious to watch except it is sad.
I’m afraid that there is no acting there at all. This is the real Smoking Man. He is a grumpy old man probably in his mid to late sixties. A babbling boomer for sure. As someone pointed out before he is probably out of cash and dragging his sorry ass back to the GTA.
…..

Hoping those clips get me some sympathy from the judge. I play 4 dementional chess.
Learn wee grasshopper.

#120 Cheese on 09.20.17 at 9:55 pm

#117 MF
You’re welcome, I’d much prefer to tell the truth and have 3M as well. Alas I can only have one of the two :P

#121 Frank on 09.20.17 at 9:59 pm

Bonds or cash reduce returns. 25-30 securities for diversification? Some industries you don’t want to hold.

20 companies is plenty. Too much diversification diminishes the value of stock selection. Otherwise buy ETFs.

Screwed Canadian Millenial has done some great work in a challenging industry. Its easy to have the views she has. Its also the default view, explaining why the liberals are floging the changes so hard. All the small business changes were going to increase tax collection less than 1%, its an appeal to an unthinking mob. Class warfare could yet backfire.

I’m sure she is very interesting when she’s not the primary topic.

#122 Mark Baum on 09.20.17 at 9:59 pm

https://www.thestar.com/opinion/commentary/2017/09/20/trudeaus-sinister-stand-against-doctors.html

Trudeau’s Sinister Stand Against Doctors

“The math behind Trudeau’s tax plan is controversial and questionable at best. It’s created such uncertainty that decades-old small businesses worry about keeping their doors open. Family farms worry about passing down to the next generation. Mom-and-dad entrepreneurs worry that their kids made a mistake following in their footsteps. Instead of celebrating success, our government is scapegoating it.

The ripple effects of these tax changes will hit every small business — along with every single person who depends on them for jobs and services.

Our government pitted neighbour against neighbour, created class warfare where there was none.”

#123 MF on 09.20.17 at 10:01 pm

#58 Tim on 09.20.17 at 7:36 pm

Not just that, but also we were thrown under the bus by some of our largest institutions, like the Bank of Canada.

In 2008, the BoC dropped rates to near zero and kept them there for way too long, causing assets to go in major bubble territory….assets that were mostly held by the older generations. In order for us to have what our parents had and raise a family in a home, many of were forced to take on debt (since no one has a million lying around).

It was a completely failed policy, and now it’s funny watching them trying to “normalize” and try and “save us” from their stupid decisions.

Then the idiot in charge had the nerve to say that working for free is good.

People ultimately make decisions, but our central bank is to blame for the conditions that surrounded those decisions.

M34ON

MF

#124 Smoking Man on 09.20.17 at 10:03 pm

Been in downtown Clevland for 4 hours. Every single person here is walking freek show. Just short of Zombie Appocolypis

I so fit it here.

#125 The Limited Sage on 09.20.17 at 10:08 pm

Garth,

First Off, thank you for replying to my email the other night regarding my rrsp.

But since I’m pulling the rest of the money out of my robo-advisor TFSA and into my personally-managed TFSA through an online broker, would you suggest a large lump sum contribution towards my diversified etf stocks, or weekly dollar cost averaging? I won’t go over the maximum contribution for the year so I’m not worried about that.

Just curious as to what you think is the best option to fix up my TFSA before the end of the year. Thanks again.

#126 Spectacle on 09.20.17 at 10:11 pm

https://insideismailism.wordpress.com/2017/01/12/aga-khan-trudeau-bahamas/

So after reading about The devastation to Canadian business/entrepreneurs/and canadian society inmany ways, does anyone else see how
1) corrupt
2) two faced
3) recklessly entitled
..the current Trudeau government is.

That si $300,000,000 ( three hundred million Canadian dollars ). Your Trudeau GAVE to the corrupt Aga Khan. The Con, I mean Khan, bought a $100,000,000 (one hundred million dollar) Island with it, and promptly invited Trudeau down for New Years.

Hmmm. Double standard? In addition, the Khan laundered millions through Canada and his Religious Corporations. According to the CRA. Look it up, then tell us what you think & feel about Trudea.

#127 Rogue One on 09.20.17 at 10:12 pm

Just go to Mongohouse or one of the other Chinese sites that show the list/sell price of every property in the GTA.

TREB can’t do s**t to stop these sites…..even Zolo has a running total of market stats

#128 VICTORIA TEA PARTY on 09.20.17 at 10:13 pm

SCREWING THE MILLENNIALS FOREVER

The best way for the T2 gang to achieve that end (which seems to be what they wish for this voter cohort) is as follows:

1) tax capital gains more severely;

2) end the dividend tax credit;

3) jack up personal income taxes;

4) if T2 gets into a bind after all that then call up the idiot who runs Venezeula and ask him what to do next.

The result? Millennials won’t stand a prayer in their economic lives and will become a group of freakin’ handmaids to government.

The key to a thriving Millennial generation is always low taxes, no changes to current investment income penalties, and for this huge group to try to feel like winners instead of whiney snowflakes.

Come on you young uns. Stop your kleptomania.

As JFK once said: “Ask not what your country can do for you. Ask what you can do for your country.”

Wise words from a long-missed for US president.

#129 MF on 09.20.17 at 10:16 pm

#116 Dmitry on 09.20.17 at 9:42 pm

Don’t worry Dmitry,

Read this CBC article:

“Liberal support holds despite tax change attacks”

http://www.cbc.ca/news/politics/grenier-federal-polls-taxes-1.4296602

This is great news. The article says that despite these stupid ill advised tax changes, pathetic pandering to the corrupt UN, and wasted billions of dollars of debt..the “polls” show the Liberals would still get a majority.

And we all know what “polls” tell us.

MF

#130 Bruce on 09.20.17 at 10:18 pm

What’s with all this boomer bashing? I’m not a boomer but I can tell you this- many days I think the boomers are the only thing standing between Canada and a complete collapse in social order. The Millenials have no respect for the value of hard work, money, free speech, the constitution or a free and democratic society. And Gen X is too spineless to stand up to the Millenials.

#131 Graeme on 09.20.17 at 10:25 pm

Screwed Millenial,

I am in my early sixties and manage my money carefully so I can help younger people who don’t have wealthy parents.

I have given away a total of 70,000.00 in the last 4 years. I make about 100,000.00 per year so am not ‘super rich.’ I treat myself to some things but will go without big ticket items so that friends who haven’t been as lucky don’t have to go without basics.

It is so wretch inducing reading some of the comments on this blog from people in my age bracket. How anyone could be grasping for more when so many can barely feed themselves is beyond me. It shows a stunning lack of character.

I agree with everything you have written and hope you continue in your efforts on this blog. You are making a difference and hopefully changing minds.

Take care!

#132 good grief on 09.20.17 at 10:27 pm

But instead of all this, your top concern is that you don’t have a $10k TFSA. THAT’S supposedly the big problem in our society today. Give me a break. Wake up, look around you, get outside of your safe space, volunteer at a food bank.

……….

good grief. Save it . Stop generalizing, you’re making a fool out of yourself

YOU go volunteer at a food bank. Help others and stop criticizing people you don’t even know. GROW UP

#133 re., Millennial Realist on 09.20.17 at 10:30 pm

The Boomers have already moved into political irrelevancy. They will have no control over elections from now on.

We are also moving into the mortal eclipse of the Boomer generation. A huge percentage of them are now likely to be deceased by 2024, and almost all by 2030.

Fairness and social and economic justice are coming like a loaded freight train at 100 mph.

So cute to see the outdated dinosaurs on here denying it.

Get your estates in order, Boomers.

Time is almost up.

……..

what are you babbling about? Worry about yourself. You are in no position to give advice, are you?

#134 n1tro on 09.20.17 at 10:34 pm

#116 Dmitry on 09.20.17 at 9:42 pm
SCM is typical loser.
SJW who is for all good against all bad. Save the world, save the planet, do good, hug trees, etc.
——————————-
100% agree with you on the loser part. Have to disagree with your 2nd assertion.

SCM is not a SJW. Not sure if anyone can classify him. SCM wants wealth confiscation from those who have earned it while staying silent on the wealth his hero T2 has. SCM gives links to how the majority are “screwed” while blaming immigrants for taking all the jobs (remember this is one of the reasons he got banned the first time). SCM is an eternal victim where it’s everyone else’s fault.

2 best ways to deal with such a person.

1. As shown by my posts a few days ago, tell your story of how rich you are and what benefits you are using to stay that way. It doesn’t matter if you earned your riches or inherited, this will trigger SCM’s inner rage of victimhood and make him lose his shit. Fun to watch. I imagine it to be something like this
http://rs256.pbsrc.com/albums/hh185/amerikanmafia/typinganimation.gif?w=280&h=210&fit=crop

2. Post your stories (regardless of your generation) of how you made it or in the process of making it regardless of the adversities. This will poke holes in his “misery loves company” mentality and keep him silent. Kudos to the millennials who have posted to counter SCM’s victimhood. You millennials prove that the future is in good hands.

#135 Tony on 09.20.17 at 10:35 pm

Re: #35 AK on 09.20.17 at 7:04 pm

He means the year 2018.

#136 will on 09.20.17 at 10:36 pm

General question:

At what point did we go from living in the world to living on the planet? And what does it mean?

#137 I'm stupid on 09.20.17 at 10:37 pm

#10 Money Miser

Stop trolling for traffic to you site. No one cares.

#138 David McDonald on 09.20.17 at 10:37 pm

I was struck by yesterday’s interview with Michael Bloomberg on The PBS Nightly Business Report. He said he had no idea why the stock market keeps going up. If somebody that smart and that well informed has no clue then where does that leave me?

#139 millmech on 09.20.17 at 10:42 pm

114
Not a chance, the immigration numbers will dwarf you guys and those new Canadians want to work and will not let that happen.
I have never seen a generation of people so eager to continuously shoot itself in the foot(T2 should bring back the gun registry and save you guys some agony)

#140 Moses71 on 09.20.17 at 10:52 pm

Hey #91–guess the boomers can pay it back by bequeathing it to the debt instead of leaving it to the millennial adults. Great solution if you ask me!
Sorry, can’t typecast me, cuz I’m neither.
Generation X, to you. Just call me Madame

#141 SoggyShorts on 09.20.17 at 10:53 pm

#84 RentYVR on 09.19.17 at 8:04 pm
@#72 SoggyShorts

I’m not arguing that running a small business isn’t hard or without risk. Nor am I arguing for you to earn less than the employees who work for you. I’m saying that using the tax system to supplement your income (and paying less tax than someone with the same income level is a supplement) is the wrong approach.
***************************************
But using the tax system to defer some taxes by keeping money in the company for lean years (or when an employees ****s up and costs me $15) is something I think business owners need.

#142 acdel on 09.20.17 at 10:55 pm

Good one Garth!

#143 n1tro on 09.20.17 at 10:59 pm

#136 David McDonald on 09.20.17 at 10:37 pm
I was struck by yesterday’s interview with Michael Bloomberg on The PBS Nightly Business Report. He said he had no idea why the stock market keeps going up. If somebody that smart and that well informed has no clue then where does that leave me?
—————————————-
Don’t sell yourself short. Not much difference between an educated GF blogdog (who understands risk diversity) versus a money manager. Main difference is that you play with your own money while making your guesses. Society blindly associates having large amounts of money with some sort of divine insight when it really isn’t.

#144 SoggyShorts on 09.20.17 at 11:00 pm

#129 IHCTD9 on 09.19.17 at 9:24 pm
Same here- As a small business owner I voted against my own interests in order to make things better with a more representative system. Bamboozled again.
——

Hopefully some wisdom was gained.

Next time you’ll know what expect BEFORE you vote.
********************************************
What was the lesson I was supposed to take away from this?
I voted for someone based on one of their main campaign promises, and they abandoned it without any repercussions.
All I learned is that voting is pointless. Maybe I could make it better myself by devoting my time to protests or something, but I don’t have that much spare time. So maybe it’s my fault I guess? Is that the lesson? Voting isn’t good enough, I should add a part time job of protesting to make my vote count?

#145 Moses71 on 09.20.17 at 11:03 pm

Sorry, my last post was meant for #91!

#146 Raging Ranter on 09.20.17 at 11:06 pm

@#130 Bruce, we are not too spineless, there just aren’t enough of us.

#147 Annek on 09.20.17 at 11:06 pm

Re: Screwed Canadian Millenial
“Immigrants being exploited as slaves basically.”
I hear you and empathize with some of your issues.
But I want to remind you that many boomers and their parents were immigrants They had to work for minimum wage or less. There was no welfare, no universal health care, no subsidized housing etc. If you did not work , you did not eat. You had to learn the Language on the street. There was no ESL courses. People made fun of you because you were an immigrant Boomers and their parents did not have it easy and had to work hard to survive.i remember my mother picking tobacco and working the fields. I cleaned houses with my mom to make money. I learned to work hard and studied hard to become a professional so that I could have a decent life.
Again, don’t think that most boomers had it so easy.
Step back amd talk to them. You may find that your situation now is not that different than what they went through then. Don’t be so angry. What they have now is what they worked for. And so shall you if you apply yourself.

#148 Same guy new handle on 09.20.17 at 11:13 pm

SCM – so much easier than having to type it all out.
Let’s start by taking 99% of money from the following:
Steve J
Mark Z
Elon M
Jeff B
Google twins
Whoever the Netflix guy is.
You think they would have started those companies without the prospect of a big win?
Could you survive one day without their stuff?
A bunch of BS links copied here from where ever to suit my message.

For the maniac who said Cuba is more equal – just wow. You honestly think the people there live the same as the Castro brothers? That this blog could even be published there? That all those doctors are great, healthcare is free?

Please someone tell this person the horrible realty about living is a fascist totalitarian state.

Millennials…please tell us you know the difference between the unequal US and the equal Cuba.

#149 Not A Victim on 09.20.17 at 11:17 pm

Garth,

Thanks for the straightforward advice! I’ll be using this breakdown as a guide. One thing you’ve consistently mentioned is income splitting but I can’t seem to grasp whether you’re talking about investment income or employment income. Some enlightenment would be fantastic! I’m the sole breadwinner in my family so my personal tax burden needs to be smaller.

#150 Screwed Canadian Millenial on 09.20.17 at 11:23 pm

#131 Graeme on 09.20.17 at 10:25 pm

Wow thanks Graeme. Very nice of you to say.

“It is so wretch inducing reading some of the comments on this blog from people in my age bracket. How anyone could be grasping for more when so many can barely feed themselves is beyond me. It shows a stunning lack of character.”

You’re absolutely right about this. Their total lack of character is astounding. Even worse, they silo themselves in safe space echo chambers and think their behaviour is normal. Well it’s not.

Thank you for comment. It was a breath of fresh air.

#151 T on 09.20.17 at 11:28 pm

#5 Screwed Canadian Millenial on 09.20.17 at 6:36 pm

Wow there’s a lot of rage and generalization.

#20 TheSpangler on 09.20.17 at 6:49 pm
#5 Screwed Canadian Millenial

Dude as a Millenial myself, stop crying and blaming others on your problems. Most people are screwed as they are horrible with money, like $4 Starbucks twice a day. I watch my cash and put money in my TFSA and my recent hobby is buying stocks. I want the $10k limit back.

Suck it up and play the cards you are dealt, stop crying. Get a hobby, may I recommend riding a bike ;).

—-

This exactly.

#152 Screwed Canadian Millenial on 09.20.17 at 11:30 pm

#102 Long Branch Apprentice on 09.20.17 at 9:02 pm

Why are you so angry? This another problem with you GIMMEs, you can never admit when you’re wrong. You know exactly what you were trying to claim. I said why should the government subsidize tax free capital gains via $10k TFSAs for you GIMMEs. And you came back with some nonsense about double taxation. That has no bearing here. As I correctly pointed out, any investment income you would have otherwise made, would be taxed as capital gains. Even in a non-registered account (albeit at a sweetheart rate). Why do you GIMMEs think you’re so ENTITLED that the government should subsidize for you tax free capital gains? This is exactly why you come off as such spoiled, entitled brats. Again, nobody is stopping you from saving. Nobody is stopping you from investing. You make a gain, good wonderful congratulations, pay your damn taxes on it. That’s not too much to ask you know.

Seriously, you GIMMEs act like you’re the masters of universe, like you cured cancer, because you played around with money on your computer screen and made some nice gains based on wise recommendations from some dude on a (formerly) pathetic blog.

Good for you. Pay your damn capital gains taxes. Be thankful they’re not higher.

#153 Big Shot on 09.20.17 at 11:32 pm

SCM – Ther’s an opening in my organization. Pays $250k/year. There’s one catch.
You must be paid into your personal corporation. You won’t break any current laws. But may not pay your “fair share” of taxes.

What do you do?

#154 BS on 09.20.17 at 11:33 pm

99 $33,000 thing on 09.20.17 at 8:52 pm

——-

It would be interesting to know that how many of the “$33,000 thing” is reported on T4.

Probably those are the people who very unlikely to have meaningful family asset, RRSP, TFSA, foreign income, basement rental, etc.

Not true at all. Many spouses keep working part time or causally to keep their professional designation/career viable so they can return to work in the future if they choose. I know a nurse and an attorney personally who do this and get a T4 for under $20k per year. If they stopped working completely they may not be able to return to work 5 or 10 years down the road. Many others work part time by choice for family reasons, yet have high family income. Others without professions work at low paying jobs because they want to work. I know a person who works as a waitress part time yet between her and her husband they own assets over $10 million. The fact some people have other family income and assets allows them to do this. Even some retired people who are financially set choose to work casually or part time because they want to.

#155 Myra Andrews on 09.20.17 at 11:34 pm

Only one day with a high sell to list.

This data is for both Real Estate boards-GVRD and Fraser Valley.

Date New Sold %
20-Sep 436 144 33.0
19-Sep 424 330 77.8
18-Sep 531 192 36.2
15-Sep 305 167 54.8
14-Sep 385 269 69.9
13-Sep 434 251 57.8
12-Sep 465 191 41.1
11-Sep 561 273 48.7
08-Sep 341 158 46.3
07-Sep 392 139 35.5
06-Sep 466 188 40.3
Total 4740 2302 48.6 Overall

#156 Conservative Canadian Millenial on 09.20.17 at 11:37 pm

For all you cantankerous fogeys battling SCM – I’m right there with you. Forget him, he’s a loudmouth beta. Hopefully he can one day get laid, paid, and taxed so he can wake up and smell the bureaucracy.

I sincerely wonder how things will be in the future for my kids and I, what will become of my hard work, deferred pleasure, and honest savings when surrounded by an insatiable kleptocracy pandering to an ever-increasingly entitled society who only carry debt?

#157 Screwed Canadian Millenial on 09.20.17 at 11:40 pm

#116 Dmitry on 09.20.17 at 9:42 pm

Lol this guy. Wow just wow. Notice how so many of you can’t actually argue or debate the facts. All you can do is spew vitriol and hurl petty childish insults. Worse than children. Nothing I’ve said should make you this angry first of all. Second of all, lol I brought up the planet one time and look how it set you off. Thirdly, it’s hilarious that some of you boomers are calling me a SJW now. It’s like you’re just automaton parrots hurling the same old “get off my lawn” insults at people younger than you, whether they apply or not. I’m not even bringing up any SJW issues, again you guys are so triggered by the facts I bring to the table that you just hurl nonsensical attacks that don’t even make sense.

Since this has come up repeatedly, I wouldn’t call myself a SJW. Economic issues are far more important than social issues. Live and let live. Let people be happy. You boomers have only yourselves to blame for the current SJW backlash. You spent decades getting triggered and obsessing over nonsensical social issues like abortion, gay marriage, marijuana, etc. So much so, that Conservatives used these as wedge issues to drive you to the polls. Has the pendulum swung too far the other way with this crop of SJWs, yeah sure. But like I said, you have only yourselves to blame. You love big government when it comes to running people’s personal lives.

That’s it for tonight. What a lively comment section.

#158 Lookinin on 09.20.17 at 11:40 pm

You know something, Screwed Canadian Millenial , I find your take on things extremely interesting and I look forward to more observations like your first post today. I may not agree with all of it, but you’re poking the bear, aka us oldsters. Rather interesting to see things sink to the level of suggesting sexual frustration being the reason for your post. You know that you’re making headway when lunkhead comments like that appear. It’d be interesting though for you to put some “flesh on your bones” so to speak, and tell us a bit more about yourself, as Long Branch Apprentice has asked you. Cheers.

#159 Ronaldo on 09.20.17 at 11:42 pm

Millennials.

https://www.youtube.com/watch?v=hLpE1Pa8vvI

#160 Ronaldo on 09.20.17 at 11:55 pm

What you need to know about the Millennials:

https://mic.com/articles/30327/the-millennial-generation-needs-to-lighten-up#.Hfm0PEy0H

#161 The real Bruce on 09.20.17 at 11:55 pm

#130 Bruce

Maybe we Gen Xers are tired of having to deal with the narcissistic idiots and now their children.

#162 n1tro on 09.21.17 at 12:06 am

#146 Raging Ranter on 09.20.17 at 11:06 pm
@#130 Bruce, we are not too spineless, there just aren’t enough of us.
———————-
Also, we are too busy making something of ourselves in middle management positioning for the VP slot once the Boomers retire. Gen X…the greatest generation ever!

#163 Ronaldo on 09.21.17 at 12:15 am

Millennials in the workforce. Very funny.

https://www.youtube.com/watch?v=QXWNChoIluo

#164 n1tro on 09.21.17 at 12:22 am

#149 Not A Victim on 09.20.17 at 11:17 pm

Income splitting.

What Garth is referring to is using the spousal RSP method. If you are the bread winner while your wife makes significantly less, max out your RSP limit, then open a spousal RSP account and max it out too. Your income tax gets reduced by both contributions as long as the money stays in the account for 3 years.

The only other caveat is that if your wife splits on you, she would take the money with her. If your wife stays with you forever, during the time she is on mat leave or unemployed, start pulling out the spousal RSP up to the personal limit and pay no taxes. All legal and legit but I’m sure some will say you aren’t paying your “fair share” and whine about it but do what the government has afforded for you.

#165 Big Shot on 09.21.17 at 12:28 am

SCM has lots of time of their hands for this blog.

Couple questions.

Do you think vaccines cause autism?

Was 9/11 an inside job?

I can copy a bunch of links here to “prove” this.

Nice work saying others spit vitriol when that’s exactly what your next line is.

It sounds like a lot of people here aren’t angry with you. More like trying to guide you, learn from their experience.
65 years olds here didn’t lynch blacks, or do any of that other creepy stuff suggested. They got older and did what they thought they should. Were they scared of the unknown – sure. Did they change their views – sometimes. They had the benefit of demographics and technology. Not always their fault.

The war between old and young isn’t a war. It’s our experience vs your expectations.
You seem to love be the attention here. I hope there’s more for you on tinder.

#166 Pete from St. Cesaire on 09.21.17 at 12:56 am

General question:
At what point did we go from living in the world to living on the planet? And what does it mean?
————————————————————-
That happened when the collectivists took over openly. Individuality is being torn asunder and being replaced with collectivism; we are no longer individuals living on this planet, we are just one big collective of common interests, common needs, common aspirations. Individuals think independently and that may lead to impure thoughts of increasing one’s own wealth or some other modern heresy.
The world is a world inhabited by individuals.
The planet and collective humanity are one, no room for the dreams, talents, aspirations or abilities of individuals.

#167 Long-Time Lurker on 09.21.17 at 1:22 am

I don’t know why I’m writing this because Self-Screwed Canadian Millennial I rank you lower than Mark in this comments section. I ignore Mark because he’s either confused or a troll but at least he’s polite. Other people rant here as well but they don’t take up as much comment space as you.

Now, SSCM, if you want more money why don’t you start a business? There’s no minimum wage for business owners and there’s no guarantee that you’ll make any money either. Do you have any real cojones?

Let me guess, you’re the raving lunatic who threatened Garth and his family? Argue that.

#168 Dmitry on 09.21.17 at 1:31 am

#157 Screwed Canadian Millenial

Not angry at all. Nothing to be angry at.
Typical loser rant with no facts or reasons, just “Live and let live. Let people be happy. You boomers have only yourselves to blame for the current SJW backlash.”
Whatever that is supposed to mean.
Who told you I’m so called “boomer”?
I do not ever mention anything related to millennial vs boomer BS that is going on around here.
I do not give a s**t about anyone’s age.
One thing is important for me is how reasonable and logic is person’s arguments.
Just read my previous posts.
I also do not care about who’s ruling Canada – liberals or conservatives, as long as what they do (not what they say/lie) is making sense.
You should really go and live in one of those socialist/communist countries and experience all “fairness”. Maybe you’ll like it there and stay there.
But most likely you’ll understand/appreciate that Canada is giving you more – equality of opportunity, even for immigrants, sometimes even for illegal immigrants.
Where else you get that?
All you need to do is set goals and work towards them.
So easy to do.
Don’t be loser who’s been taken advantage of by current liberal government to get votes. That’s all they care – votes to stay elected by spewing this populist ideas of “fairness” and “equality”.
You will not be better off with anything they do – it’ll be only worse for everyone.
I have 3 kids, so I know what I’m talking about on the social issues front.
Do you have any kids?
Did you ever have to think for a moment how their future would look like in Canada?

#169 Happy Housing Crash Everyone! on 09.21.17 at 1:32 am

You dirty SHYSTERS are a joke. They now want to pretend they can police themselves before the government steps in https://www.thestar.com/business/real_estate/2017/09/20/toughen-realtor-licence-renewal-testing-says-orea.html . Keep e-mailing the government to get realtors regulated like financial advisors . These SHYSTERS are scared and trying to show everyone they are professionals…joke. I HATE SHYSTERS

#170 BillyBob on 09.21.17 at 1:34 am

It’s easy to shoot your mouth off when you have nothing to lose. Screwy’s angry loser schtick just guarantees he/she will always be a loser. Can’t succeed when you’re convinced you’re a victim. It’s like a self-imposed prison.

And to suggest that an angry, logic-challenged blowhard would actually change anyone’s mind about anything, well…keep dreaming. If anything this troll is just fuelling the millennial stereotypes and not doing any favours for the demographic.

Just a tip there Screwy – if you’re trying to influence people’s opinions and behaviour, it helps to not come across as a sarcastic a-hole. Don’t know why exactly, but people aren’t terribly receptive to any message being broadcast by those sorts.

#171 oldnilssy on 09.21.17 at 2:07 am

#28 Screwed Canadian Millenial on 09.20.17 at 6:59 pm

Oh and one more thing about Norway. I would be welcomed with open arms. I actually care about the greater good.”

Norway has to be one of the boringest places on the planet…..like vanilla ice cream without the vanilla or the cream.

They even created a PC version of Neil Young called Young Neils ffs!
https://no.wikipedia.org/wiki/Young_Neils

And those Nordic feminasties…..well just ask Tiga Woods what happens when you upset them….fore!

#172 Mark on 09.21.17 at 2:08 am

“Look for T2 to play to the crowd in his second term with an increase in the capital gains inclusion rate, a potential change to the tax treatment of dividends and even start contemplating a wealth tax.”

This sounds like a pretty extreme view. Just because T2’s government decided to uphold the concept of integration in the tax system, by cutting off abusive tax shelters such as income sprinkling (already illegal under current rules relating to transaction valuation between related entities, BTW), or passive investments in professional corporations, doesn’t mean that he’s going to magically and arbitrarily change the rates applicable to capital gains or dividends from businesses that have already seen tax applied.

If anything, T2’s moves are a strong commitment to enhancing the fairness of the tax system. That other stuff is just off-the-wall, and aside from some fear mongering from extreme quarters, has no basis in reality, or any known internal discussion within the Department of Finance, or even at any known levels of the Liberal government.

Professionals who have been abusing income sprinkling, and excessive earnings retention will just have to raise their prices, accept that the market doesn’t value their skills as highly as they may anticipate, or meet with their advisors and use other tax shelters (the opportunities available these days are almost endless with very favourably low valuations in the resource and public equity space!). At the end of the day, everyone will be paid their fair market value.

‘Excessive earnings retention’ – you fruitloops think keeping what you earn (instead of sending it to Ottawa) is a crime. Dangerous. — Garth

#173 Midnights on 09.21.17 at 2:34 am

Good read for our times…

http://charleshughsmith.blogspot.ca/2017/09/loving-our-debt-serfdom-our-neofeudal.html?m=1

#174 Oft deleted much maligned stock picker on 09.21.17 at 3:04 am

Trader girl will never retire a millionaire this side of 65 if she takes the balanced approach with a 6% return…..if all she’s got is 100K. At her age and trading at a stage where going to the bathroom could cost me an annual income for most. I was already well on my way to retiring, the first time, at 42…..quite comfortably…..but after a few trips around the world and all the best beaches…..you get bored and go back to work…..just warning ya……the millennial travel concept is over rated.

‘She doesn’t trust stocks’…..moron…..are there no multimillionaire twenty somethings in her company….there were plenty in mine…..scads. I remember making crazy bets on box trades gone viral with names like Babykins……and War Eagle……they were nothing companies that burst out like crocodile. Trading isn’t investing like saving isn’t investing…..investing is investing……it’s all risk….which is what Trudy and Moroneau don’t understand seeing that neither earned a dime in their lives. They’re even after the farmers and think the poor schlump with a field can order a crop to grow. T2 and McMoron havent a clue……nor do the desperate to do nothing millenials who voted this pathetic loser in.

I bought a one buck stock yesterday that posted a huge positive number…..up 20% yesterday….. $10 bucks easy …..a ten bagger as we say. Trader Girl needs to wake up….or get a bank job. If anyone thinks investing is going to make you rich without risk…….hahahahah….you been watching too many cartoons. I’ll let you know when my little pony hits ten bucks……

#175 T on 09.21.17 at 3:12 am

#123 MF on 09.20.17 at 10:01 pm

You don’t have to buy a house to have a home.

No one was forced to take on massive debt.

Asset bubbles weren’t caused by historically low rates. They were caused by people believing there is more value in something then there actually is.

The stupid decisions were made by those who took on more debt than they could afford long term, often believing the historically low rates would be around forever.

Get it straight already.

#176 fishman on 09.21.17 at 3:19 am

Screwed Canadian Millennial. You’ve got to be from back east. Norway doesn’t invest in companies that are immoral & unethical? The whole open cage fish farming industry in B.C. is owned by one big Norwegian company. Guess what? The greatest salmon river in the world ,Fraser, is in collapse. We are now on par to match returns just after the CPR dynamited a slide & blocked the river in 1913. B.C. doesn’t have enough salmon coming back to give the natives their traditional food & ceremony quota. Funny how the lower 48 got salmon. Columbia last year had biggest run since they put in the Grand Coulee. Alaska? well Bristol Bay alone had 48 million sockeye. Figure they’ll break through 200 million this year.I got some buds up in Russia killing sockeye.Millions of sockeye coming back to Russia. By the way get used to eating Alaskan & Russian sockeye because B.C. is finished for your life time. Guess what? none of those places have fish farms killing the juveniles on their way to the sea. Spreading lice & viruses as only an aqueous solution can. Only in British Columbia brought to you by Norwegian monopolists. You are not well informed.

#177 T on 09.21.17 at 3:23 am

#157 Screwed Canadian Millenial on 09.20.17 at 11:40 pm

Not everyone has as much time on their hands as you. It’s obvious you are screwed for your own personal reasons, troll or not. And a troll you most certainly are.

You win greaterfool today. Well done. Another idiot to ignore and scroll by.

#178 Steve French on 09.21.17 at 3:32 am

Checked out Smoking Man on his twitter periscope… sweet Jesus H. C. ….. Smokey was hammered!

I can see a brawl breaking out soon between Screwed Canadian Millennial and ole’ Smokey….

#179 Stone on 09.21.17 at 4:56 am

#162 n1tro on 09.21.17 at 12:06 am

So true. Gen X is the greatest generation ever! Underappreciated but super fantastic.

When I was younger, I wanted to be rich and famous. With experience, I realized famous is not a good thing. No privacy. I’ll stick with rich (affluent has a nice ring to it). Yes, GenX. Completely overlooked but actually controlling everything behind the scenes. As it should be (add diabolical laugh here). LOL

PS: Just to say ZPR dividend has increased from $0.035/unit per month to $0.038. Time to recalculate overall YTD return on the portfolio upwards. I so love my dividends. Fantastic!

#180 Ontario's Left Coast on 09.21.17 at 5:59 am

More proof that Garth is onto something:

http://business.financialpost.com/news/economy/housing-risks-could-even-threaten-financial-stability-in-canada-oecd

#181 Arne on 09.21.17 at 6:05 am

Garth, I read your article carefully, especially the last 5 paragraphs, then reluctantly waded through the usual 200 or so useless comments from people more interested in being witty than engaging in any meaningful debate, and I still don’t understand a frigging thing.

What the heck is a HISA? (Google tells me it’s the Human Initiative to Save Animals)

I’ve got a little money (so I think that means 3 ETFs for me) … which ones for crying out loud?

#182 Wrk.dover on 09.21.17 at 6:31 am

The circle of hate around SCM is vulgar. Eating the young is not going to benefit anything. SCM has presented facts, and been paid back with …? What would Boom say?

M64NS

#183 MF on 09.21.17 at 6:53 am

#175 T on 09.21.17 at 3:12 am

Nope.

You get it right “T”.

1) There is an inverse relationship between rates and house prices.
2) The BoC dropped rates to “stimulate” the economy..and kept them there way too long.
3) Not everyone is a speculator and flipper. Those who wanted to buy home for their families (or for shelter) are forced to take on larger debt as the asset increases in value.

I get what you are saying, and that people should take responsibility, but re read my post. The BoC is NOT innocent in all this.

That last part went straight over your head apparently.

MF

#184 Ace Goodheart on 09.21.17 at 7:20 am

There’s a trick about socialists that you have to know, if you want to learn how to “tax plan” around them.

Socialists tend to be wealthy. The working class are almost never socialists (with the exception for some reason, of teachers). While working class folks like unions, benefits, equal pay and that sort of thing, they hate taxation (because the middle class always get taxed more than anyone else).

Wealthy socialists tend to be from “money”. They are for the most part trust fund kids. Very few of them “came up” on their own. (Those who come up on their own tend to be more conservative, because they know how hard it is to make money and get somewhere when you come from nothing).

Trust fund kids tend to become socialist later in life, and it appears to be a form of trying to bond with a society which has always been inaccessible to them due to their family wealth.

So, taking into account the above, how does a person tax plan to survive a socialist government?

It is rather simple. Socialists will never knowingly tax themselves. They cling to their multi millionaire status, while attempting to help everyone else.

So you just have to make sure, that you are invested in the same way that they are. Socialists don’t run small businesses, for example (they don’t need to, a multimillionaire trust fund kid doesn’t need to earn 200K per year running a business, they get more than that off of their dividends). So they will tax the crap out of small businesses, because that doesn’t hurt them to do that.

They will not, however, tax dividends, because that is how the majority of them earn their money.

They will also never institute a wealth tax that would have the effect of reducing their own wealth. This may mean that any wealth tax they do put in place, has loopholes where they can hide their own money. Or it may have a “cap” (ie, anyone with a net worth slightly less than most of theirs, gets taxed).

These people are very, very good at protecting their own wealth while pretending to be “men and women of the people”. They are not. They are multi millionaire trust fund kids, who went to private schools, spend their vacations on private islands, do not associate with the working class other than for photo bombing and selfies, and are not you and me.

All you have to do is figure out the methods that they are using to exempt themselves from their own taxes, and then institute those methods in your own life.

#185 rainclouds on 09.21.17 at 8:02 am

Ask a complaining millennial if they voted

Crickets……………..

#186 Dharma Bum on 09.21.17 at 8:03 am

#61 Happy Housing Crash Everyone

“The housing crash is going from bad to worse. NOTHING is selling. NOTHING! ”
——————————————————————–

…and don’t forget to mention one more time, that it looks good on all of those dirty rotten uneducated scum bag low life lying client-misleading cheating Audi BMW driving stupid head shot on their business cards and lawn signs SHYSTERS!

https://www.youtube.com/watch?v=E24qCXfL2lU

SHYSTERS SHYSTERS SHYSTERS!

YAH!

https://www.google.ca/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=0ahUKEwis34H0m7bWAhVl3IMKHUJtBJAQjRwIBw&url=https%3A%2F%2Fwww.dohardmoney.com%2Fhi-im-a-real-estate-investor-and-other-stupid-introductions%2F&psig=AFQjCNHvmJOu7H6pvDVWmQmB3YJIMOJy_A&ust=1506081216335043

#187 Hana on 09.21.17 at 8:17 am

Everyone should take CPP at 60. No exceptions. — Garth

Garth, can you please dedicate post to this. I don’t understands benefits of taking CPP at 60 in case I am still employed. Even if that puts me into higher income bracket?

#188 crowdedelevatorfartz on 09.21.17 at 8:21 am

@#93 Gimme
“HOW WERE THE BOOMERS PLANNING TO PAY BACK THEIR 650 BILLION DOLLAR DEBT ACCUMULATED OVER DECADES?

Crickets.
++++++++

Two questions.

Why are you “shouting” ?
Ever heard of the “Debt Clock”?

http://www.google.ca/url?url=http://www.debtclock.ca/&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwjj1reTobbWAhUEwVQKHbXxBGsQFggkMAE&usg=AFQjCNH1vbaX3DIG4QL9GQpEIjvFCKJnXA

Created by Boomers worried about the looming $500 Billion dollar debt back in the early 1990’s…..

If you think $650 billion is a lot of money just give “Tax more, spend even more Trudeau” another term in office….

I’d say that his “equality, empowerment, rights for everyone” agenda will have Canada pushing $1 Trillion in debt by 2025 if he is re=elected.
You be working til you drop face first in the deep fat fryer at Mickey D’s in your 70’s if this keeps up.

Or you’ll be eating Crickets……….

#189 crowdedelevatorfartz on 09.21.17 at 8:29 am

@#131 Graeme
“I have given away a total of 70,000.00 in the last 4 years. I make about 100,000.00 per year so am not ‘super rich.’ ”
++++++

Wow!

I gave away more than $80k in 4 years

It’s called income tax.

#190 crowdedelevatorfartz on 09.21.17 at 8:39 am

@#157 Screwy Millenial Ideas

“You boomers have only yourselves to blame for the current SJW backlash. You spent decades getting triggered and obsessing over nonsensical social issues like abortion, gay marriage, marijuana, etc. So much so, that Conservatives used these as wedge issues to drive you to the polls. Has the pendulum swung too far the other way with this crop of SJWs, yeah sure. But like I said, you have only yourselves to blame. You love big government when it comes to running people’s personal lives. ”

++++
My God.

Trudeau was ELECTED on the very same issues you “blame” Boomers for.
As you focus on your idea of “important” issues like the legalization of pot ( which will be heavily taxed by the way), or carbon taxes( another govt grab for doing essentially nothing)
Eventually you will wake up(grow up?) and realize it isnt Boomers that “created the problem” ….its govt pandering to the latest block of voters……

Which in Trudeau’s case is YOU.

So many years ( and govts) from now when the world is in an even worse shit storm of economic, poltical and environmental upheaval and the voters of the day come hunting for people to blame for all the world’s ills.

Good luck blaming the ‘Boomers” because we’ll be gone and the next generation of kids will be blaming you.

#191 CJBob on 09.21.17 at 8:43 am

#164 n1tro on 09.21.17 at 12:22 am
…then open a spousal RSP account and max it out too…

The only other caveat is that if your wife splits on you, she would take the money with her.
__________
I don’t believe it works this way. If you’re married and divorce and didn’t have a prenub then all dollars are split including pensions and RRSP’s. Contributing to a spousal RRSP in this situation would contain no additional risk in my experiences (I’m an accountant not a lawyer though).

#192 IHCTD9 on 09.21.17 at 8:54 am

#38 n1tro on 09.20.17 at 7:07 pm

IHCTD9,

You know what your problem was? That you gave a shit and helped the kid out at all. Should have just drove on by. As for your critics, I guess they wanted you to get under the car and change the tire for the kid too. God forbid you scratch up his rims while changing the tire where then you would liable for the damages. There are lessons in life that can only be learned by failing. I’m sure the kid will know how to not to change a tire from this point on. Or at least, know to pay for a CAA membership.
_______________________

No kidding, some folks wouldn’t be happy unless I had went with him to his Hotel room, helped him with his bath, and made his lunch for him.

I guess I have certain baseline expectations of Men in general. I would never offer advice to a guy working on his own vehicle unless he asked – that’s how it works. This flat tire kid asked for nothing.

#193 crowdedelevatorfartz on 09.21.17 at 8:55 am

@#150 Screwy Ideas from a Millenial

“Thank you for comment. It was a breath of fresh air.”

++++++++
At the risk of repeating myself….

Two questions

Are you feeling ok?
Or did fill your lungs with soon to be legal “dope”?

You just praised a Boomer…….

#194 Dissident on 09.21.17 at 9:19 am

*blink* I am still trying to figure out why Screwed Canadian Millennial is happy about the TFSA cap being reduced.

You realize that benefits literally -everyone-? Sure, maybe you can’t afford to lob that much money per year into it, but your allowance never disappears; and its cumulative, since the inception date. (That’s how I understand it).

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html

I’m all for whining about unfairness, but that one just boggles the mind.

#195 TnT on 09.21.17 at 9:21 am

#192 IHCTD9 on 09.21.17 at 8:54 am

I guess I have certain baseline expectations of Men in general.

Your judging a guy based on his knowledge and experience of using a floor jack. It’s 2017 dude…

The fact that you pulled one out of your truck speaks volumes.

Would love to see you change a hard drive or SIM card next to a millennial.

Lawlz

#196 After Communism on 09.21.17 at 9:25 am

I never thought of this tax system as different taxes for different risk.

I always thought it was communism and capitalism trying to coexist inside one country and you could choose one or the other with your life.

Now I think you should see the folly of thinking there is some middle conservative way, accomodating some socialism within capitalism, like having your own freedom self-responsible areas of TFSAs and entrepreneurship and family, while socializing schools/medicine/retirement/welfare/familylessness

because the communist mindset got indoctrinated and now they want it all one way.

Opposing socialism/communism/atheism has to be on Christian principles, not coexisting with it, or else it takes over by justification, since you had no principle philosophy against it.

#197 Dups on 09.21.17 at 9:30 am

Hi Garth, great post today. May you please explain why an emerging markets portfolio value drops when they were purchased at a lower price than today? How does the currency effect this type of portfolio? Why don’t we see growth when this specific Emerging Markets found (lets name it Schroeder) has gone up 10-15% in the last 3 months? Is it because of CAD raising vs the other currencies the fund is invested in?

#198 };-) on 09.21.17 at 9:31 am

https://scontent-sea1-1.xx.fbcdn.net/v/t1.0-9/10377996_834416839956928_7322045953715645160_n.jpg?oh=2bf1e9b9017be8a197bae2e8e64728b8&oe=5A53F74A

These lots are now worth upwards of $500,000 today.
Who says Real Estate isn’t a good investment?

#199 crowdedelevatorfartz on 09.21.17 at 9:47 am

@#TnT

“Would love to see you change a hard drive or SIM card next to a millennial.”
++++++

O….M…G

Ladies and gentlemen.
The new age man.
He can change a SIM card faster than a Boomer can change a tire…..
Thats quite a skill set TnT. I’m surprised you even know how to fix anything what with the “throw away” generation that surrounds you.
Come back when you can unplug a Keurig coffee machine …..then we’ll talk

Careful what you brag about kiddo.

If the cumulative eye strain of staring at smartphones while endlessly texting and endless hours of “gaming” on computor screen don’t burn your retinas out……old age certainly will.

Enjoy having a nurses aide read you bedtime stories when you’re in your early 60’s at a govt subsidized manor because macular degeneration has rendered you legally blind( not to be confused with your intellectual blindness).
My personal favorite is George Orwell’s “Animal Farm”.

#200 Gonkman on 09.21.17 at 9:55 am

@@#192 IHCTD9 on 09.21.17 at 8:54 am

I guess I have certain baseline expectations of Men in general.

Your judging a guy based on his knowledge and experience of using a floor jack. It’s 2017 dude…

The fact that you pulled one out of your truck speaks volumes.

Would love to see you change a hard drive or SIM card next to a millennial.

Lawlz
______________________

Easy… as IHCTD9 is SMART enough to RTF (Read the Fng Manual).

Idiot boy who was going use the useless Jack provided probably never read his Car’s owners manual because on one or all of the following.

1. It wasn’t available in PDF.
or
2. He tossed it out to make room in his Glove Box for his wife’s or Girlfriends CRAP so “She” would have space and is Mangina.
or
3. Manual? They still make those?

If IHCTD9 had even suggested he should use the jack point he probably would of gotten a WTF look from the young lad.

IHCTD9 u better replace that floor jack. Cause its 2017 and no one uses those anymore… /Facepalm.

I must be getting old I still lots of uses for a Floor Jack. Maybe I should throw mine out from my garage because its 2017?

#201 IHCTD9 on 09.21.17 at 9:55 am

#83 Bruce on 09.20.17 at 8:29 pm
Crazy housing prices

Does everyone on this blog live in GTA and YVR? Does no one live in Montreal, Ottawa, Kingston, London, Halifax, Edmonton,…? Most of the country outside of GTA and YVR has (relatively) affordable housing.

I live in Ottawa, and the prices in my neighbourhood (quite nice but not flashy) have barely increased in 7 years. Helps to keep the property taxes under control (though they still seem to rise at about 4-5% a year no matter what).

While the variety of jobs is not the same, there are good opportunities in many cities if you look. Some cities might not have the restaurants of GTA, but better quality of life in other ways (green space, outdoor activities, good schools, better hockey teams:)
___________________________

I’ll never really understand the attraction to big cities other than job availability and large ethnic enclaves. The money is not really much better for a seasoned professional, and even if it was, the RE prices cancel all the gains 10X over. Then there’s the massive congestion, filthy air, stink, noise, and concrete.

Seriously, if you’re struggling to afford a box in the sky and jamming yourself into a subway or bus every morning, you better not be complaining about it if you haven’t explored your options.

#202 Eks dee Sipal on 09.21.17 at 10:02 am

#161 The real Bruce … “Maybe we Gen Xers are tired of having to deal with the narcissistic idiots and now their children.”

Nailed it! SCM is wildly entertaining. Getting banned by Garth for doing nothing wrong but offering an intelligent counter-point to the nauseating cacaphony of Conservative narrow-mindedness is a badge of honour. Been there done that. Hey Leo Troll, give it a try. What doesn’t kill you makes you stronger.

#203 Eks dee Sipal on 09.21.17 at 10:08 am

#162 n1tro …. I knew it! You ARE a wage slave, with some money saved, who thinks you are the $hit. My shoes still need shinin’, bro. Do you even understand the meaning of “Started from the Bottom”? The song is saying that Drake realized he couldn’t do it alone. He needed his crew. It’s a song of socialism, not conservatism. You, my friend, are a brainwashed bigot. And it’s sad that I have to say that… at first I thought you had some empathy as well as brains. Alas, I am disappointed again by a “Conservative”. Not the first time.

#204 n1tro on 09.21.17 at 10:10 am

#174 Oft deleted much maligned stock picker on 09.21.17 at 3:04 am

What’s the name of your potential 10 bagger? Best I got was LVS when it was at $0.50 and DNDN when it was below a dollar. Playing the pinks before FDA approval decision dates was nice. Good old pump and dump. Ahhh…to turn back time!

#205 Iconoclast on 09.21.17 at 10:24 am

#199 crowdedelevatorfartz

> Enjoy having a nurses aide read you bedtime stories
> when you’re in your early 60’s at a govt subsidized
> manor because macular degeneration has rendered
> you legally blind( not to be confused with your
> intellectual blindness).

Too expensive to have a human read stories.

It’ll have to be via youtube.

#206 Eks dee Sipal on 09.21.17 at 10:25 am

I don’t believe anyone should be paid a “wage”. Nobody should trade time for money. That’s exploitation. You do a job, and you get paid. Everyone should be a contractor. Very few posters on here understand this. Wage slavery is promoted by Conservatives while simultaneously poking fun at those caught in it. Nice.

It’s so easy poking holes in your trickle down/we provide jobs arguments. Shall we go there?

#207 Manitoba Whale on 09.21.17 at 10:25 am

#184 Ace Goodheart on 09.21.17 at 7:20 am
There’s a trick about socialists that you have to know, if you want to learn how to “tax plan” around them.
*****

Interesting way to look at it. Is it worth the lifelong sacrifice to save, LBYM, deal with FOMO? Will you ever get to the place where you can live off dividends, for example, and emulate the ‘wealthy socialists’ as you wisely described?
It is possible. As someone mentioned the other day:
Work hard, show up on time, don’t complain all the time.

Don’t be a dick any you too can live like a wealthy socialist. Sounds like a book title.

#208 IHCTD9 on 09.21.17 at 10:36 am

#195 TnT on 09.21.17 at 9:21 am
#192 IHCTD9 on 09.21.17 at 8:54 am

I guess I have certain baseline expectations of Men in general.

Your judging a guy based on his knowledge and experience of using a floor jack. It’s 2017 dude…

The fact that you pulled one out of your truck speaks volumes.

Would love to see you change a hard drive or SIM card next to a millennial.

Lawlz
____________________________________________

The guy is an adult male.

He doesn’t know how to change a ******* tire.

There is something not manly about a guy who struggles to change a tire. It’s like getting the $hit kicked out of you by a chipmunk. It’s the kind of thing that makes women and children point and laugh. It’s a matter of self respect. I’ll throw the guy a bone if he’s never swapped a transfer case before, but a damn tire? All cars have spare tires – everyone has to change one eventually.

C’mon, a SIM card? I think my T levels just dropped 25% reading that.

I’m looking at an old F350 dually right now – with a blown 460 BBF. If I buy it, you can come down and help me swap in a new one. Afterwards you can give me your phone and I’ll change the SIM card for you. Then we will discuss the differences.

#209 CJBob on 09.21.17 at 10:43 am

#57 45north on 09.20.17 at 7:35 pm
attempts to raise nearly $3 billion by increasing the top rate of income tax to 33 per cent had precisely the opposite effect — income tax receipts for the year fell $1.2 billion.

http://nationalpost.com/opinion/john-ivison-know-the-dirty-little-secret-about-taxing-the-rich-it-doesnt-work

“attempts to raise $3 billion by increasing the top rate of income tax had precisely the opposite effect”

as I’ve said before Bill Morneau’s proposed tax changes will result in less revenue. Employees will have to make up the difference.
___________
“A breakdown was not given, so it’s hard to say how big the impact will be in the current fiscal year.” – This is a telling quote from the article because it also means it’s impossible to tell from the data provided how much of the drop was related to the tax change mentioned versus other factors.

I’m not disagreeing that the conclusion MIGHT be correct, but it’s not a conclusion that can be reached based on the data provided. This is an example of confirmation bias. Finding the conclusion that meets your predetermined opinion. (and again MIGHT be right).

#210 Ian on 09.21.17 at 10:47 am

I don’t understand the generational arguments on this blog.

We’ve heard from millennials who have no clue, and those who seem very responsible. We’ve also heard from older folks who have made good decisions, and of course there are many who haven’t as well. On top of that not everyone falls into the millennial or boomer categories.

Every election has people voting from ages 19-100+. Everyone is responsible for the fact that we have a government size, and tax bite, that has grown faster than the economy over many decades.

I think blaming certain age groups and lumping everyone into one philosophical category in that age group is just ridiculous.

#211 unsweetened on 09.21.17 at 10:48 am

5 reasons on why high housing costs aren’t good for a country:

1. Sharply rising house prices are associated with increasing household debt, which increases the chance of a financial crisis.

2. Housing is prone to the Baumol disease. Because the housing sector has lower productivity growth than other sectors, a shift in spending towards it tends to reduce overall productivity growth.

3. Years of rising house prices have encouraged a culture of investment in bricks and mortar. This has diverted potential entrepreneurs into “property development” and away from perhaps more socially useful activity; has encouraged people to regard their house as their pension and so diverted capital away from business investment and formation; and might have encouraged early retirement and a loss of skilled labour.

4. High house prices give people an incentive to protect their investments, and this breeds the sort of nimbyism which can delay infrastructure investment.

5. High housing costs encourage people to commute long distances. Not only is this bad for their well-being, but it can also depress their productivity.

http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2017/09/the-harm-of-high-housing-costs.html

#212 crowdedelevatorfartz on 09.21.17 at 11:02 am

Speaking of Boomers
Former mayor of Surrey, current member of Parliament
Dianne Watts to make an “announcement” this afternoon?

Diane Watts to run for the BC Liberal leadership?
Diane Watts …..The new Premier after the NDP/Green Millenial coalition of naïve socialists fall on their fiscal swords?

We Boomers aint finished yet………..not when there’s one last magnificent tree to cut down and one last salmon to catch…………or one last capitalist Premier to elect…….

Pave paradise put up a parking lot……..

#213 HaHaHa on 09.21.17 at 11:04 am

Screwed Canadian Delusional (Milleniel..whatever) This nut is hilarious. Not every day you get to look inside the mind of a bona fide delusional crybaby. I enjoy it. Don’t stop keep it coming. People love watching a good train wreck.

#214 Dissident on 09.21.17 at 11:04 am

#184 Ace Goodheart on 09.21.17 at 7:20 am

Interesting perspective re the ‘selective taxation’.

#215 SilverSon on 09.21.17 at 11:15 am

@#131 Graeme
“I have given away a total of 70,000.00 in the last 4 years. I make about 100,000.00 per year so am not ‘super rich.’ ”

So, let’s think about that. When someone has charitable donations of $70,000 listed on their tax return, that means they didn’t pay income tax on that $70,000 earned. Had they, the amount of money they would have been able to keep would have been around $45,000. So in fact, this fellow gave away $45,000 and forced the government to give away $25,000 which they would have collected in income tax had he not made the donations. That’s $25,000 that the government now has to find somewhere else (hence further tax increases). Ponzi-go-round.

#216 SilverSon on 09.21.17 at 11:19 am

#169 Happy Housing Crash Everyone! on 09.21.17 at 1:32 am

Agreed. Financial advisers have fiduciary responsibility. The same should be required of realtors. Too much money involved in RE for that not to be the case.

#217 IHCTD9 on 09.21.17 at 11:20 am

#144 SoggyShorts on 09.20.17 at 11:00 pm
#129 IHCTD9 on 09.19.17 at 9:24 pm
Same here- As a small business owner I voted against my own interests in order to make things better with a more representative system. Bamboozled again.
——

Hopefully some wisdom was gained.

Next time you’ll know what expect BEFORE you vote.
********************************************
What was the lesson I was supposed to take away from this?
I voted for someone based on one of their main campaign promises, and they abandoned it without any repercussions.
All I learned is that voting is pointless. Maybe I could make it better myself by devoting my time to protests or something, but I don’t have that much spare time. So maybe it’s my fault I guess? Is that the lesson? Voting isn’t good enough, I should add a part time job of protesting to make my vote count?
___________________________________________

Voting isn’t pointless, but you need to be realistic about what you’re going to get.

My lessons thus far are as follows:

1. Politicians can not be trusted.
2. Politicians have little to no ability effect change.
3. Politicians will continue spending money we don’t have.

These lessons have, in the last few years changed my strategy on political matters:

1. I will now vote swan-dive, ie for the worst financial outcome.
2. I will now vote loudly via offsetting my tax load.
3. I will now prepare my household extensively for the high tax, low wage future I am voting for.

Trudeau is an excellent swan dive candidate, and I expect to be voting for him unless the NDP can find an even bigger douchebag.

#218 Enjoy it, suckers on 09.21.17 at 11:21 am

People engaging in this boomer vs moister, home owner vs renter, stocks vs ETFs, “job creator” vs “wage slave” and similar arguments day after day, with steadily increasing vehemency are enslaving themselves in just an other version of identity politics, designed to divide and conquer.

Enjoy it, suckers. You are no less tribal than people living in the past thousands of years. If technology wouldn’t have enabled to produce more stuff to fill your stomach, heat your homes and capture continuously your attention, you would be out on your feet to kill each other. Four weeks of global power failure would trigger you back to cannibalism.

#219 Centre Wing Millennial on 09.21.17 at 11:30 am

I bet SCM is about to get a big pay raise on Jan 1, 2018 and then again Jan 1, 2019 thanks to the cronies in Queen’s Park.

#220 Centre Wing Millennial on 09.21.17 at 11:31 am

The reason people like SCM are happy the TFSA limit got reduced is so that the all-knowing government can raise CPP and have more of us more dependent on them.

#221 IHCTD9 on 09.21.17 at 11:41 am

#147 Annek on 09.20.17 at 11:06 pm

Good post, and rings all kinds of bells. My parents are right on the line between boomers and the Silent Gen. Came here and learned English on the street, fought with the kids at school who picked on them for being immigrants – no human rights tribunal for any kind of discrimination they received. They got a lot of it. Hard manual labour in the fields, work day and night to make ends meet – and just barely made it through most months. Both my parents recall waking up on cold winter mornings with frost on their blankets, -15 degrees in the bedrooms, even with a pile of wood and coal in the stove downstairs. 2-3 people per bed.

When I think of boomers, I think of lots of actual real work, a tough youth, and maybe some financial vindication as the years went on.

Millennials today who have not stuck themselves with massive debts got it so easy it’s tough to explain.

#222 Penny Henny on 09.21.17 at 11:43 am

#133 re., Millennial Realist on 09.20.17 at 10:30 pm
The Boomers have already moved into political irrelevancy. They will have no control over elections from now on.

We are also moving into the mortal eclipse of the Boomer generation. A huge percentage of them are now likely to be deceased by 2024, and almost all by 2030.
/////////////////////

I’m a later Boomer at 52 yrs old. Dead by 2030! Yikes!

#223 Calgary Rip Off on 09.21.17 at 11:47 am

That was an interesting read Garth.

Here’s another perspective: Time is limited. Real time is not the same time as perceptual time.

Are you physically and mentally stable? Youngsters would be better off protecting their physical and mental health than worrying about finances.

Yes you need money to live. Quality of life is enhanced by being well. Can you put a price on wellness? No you cannot.

What I see for many in their thirties and twenties is impatience. Boomers? Much misplaced focus.

The world owes me nothing. I focus instead on taking advantage of relationships, accomplishments, and experiences. These are the things that form memories and forge who you are. Death is the great equalizer. And death is closer than anyone thinks. Will you be ready?

#224 SilverSon on 09.21.17 at 11:54 am

Anyone else noticing that SCM’s comments prove exactly what he/she is trying to disprove about millennials? Maybe everyone noticed ages ago and I’m the slow one. It’s not so much what is written, but how it’s written. I think SCM stands a better chance of being taken seriously if he/she planned out his/her comments and took some time to reflect on them before posting. For example, comments containing disorganized thoughts, arguments that don’t make sense as a result of being written in haste, and immediate responses to criticism demonstrates a lack of patience, lack of discipline, poor attention to detail, and strong need for instant gratification. All of those traits are what most millennials deny that they exhibit. People with good attention to detail usually enable spell check.

Note to SCM – may I suggest you take a breather and plan your comments before posting. Put some care into it. I want to understand more about millennials so I can help those that I know, but I’m not doing everything for them. In the same spirit, I suggest you show some sort of sign that you want to help yourself and then others will try to help you.

I am told SCM is a Toronto journalist. Perhaps she would care to confirm this. — Garth

#225 Penny Henny on 09.21.17 at 12:00 pm

Why are teachers allowed to work 4 years and have their pay spread over 5 years so they can take a 1 year paid sabatical?

Make them use rrsp room like everyone else!

#226 aa6 on 09.21.17 at 12:16 pm

The millennials are the same as the boomers at the same age. They have spent 12 years in a communist education system, and then onto another 4-6 years of communist university training.

They come out fully expecting to get a high paying government job for life. For some millennials whose parents have conncetions and privilege they do get those high paying governments jobs.

For the other millennials who don’t get the government jobs, they have to work hard, and then see the majority of their money taken away in various taxes.

I have seen social justice warrior communists coming out of college at 24, to become hard right conservatives by 30 – when they realize they are the sucker expected to work and pay for everything.

#227 SilverSon on 09.21.17 at 12:16 pm

#79 penguin on 09.20.17 at 8:20 pm

“Talked to a 21 year old at a party last weekend. He is convinced that 1/3 of his generation will never be capable of holding down a full-time job for their entire life.”

— Wow, that’s depressing.

“Many of his friends are also mad with the upcoming minimum wage hike. Some millennials worked hard to get up to $15. Soon their job wages will be no better than the slackers again.”

— When minimum wage hits $14/hr, all those who worked hard to get to the $14/hr level today are going to expect a $3/hour increase, will they not? And those currently earning $17/hour are going to want a $3/hour increase so they’re not paid the same as the people that were paid $14/hour before, and so-on. Same when minimum wage gets to $15/hour. When we get to that point, fine establishments like the Belfountain General Store will have to reluctantly increase its prices enough to cover the raises that they are required to give its 19 employees. Then the ice cream for me and my dog will cost me more, which means I have to give up something else unless my company increases its prices to its clients so that I can hopefully get a raise.

So if minimum wage is increasing to make living more “affordable” for people, and this will trickle throughout everything, why would anyone believe that Canada is not experiencing inflation? Oh right … because that’s what the government says and most Canadians are too financially illiterate to figure it out. The Canadian gov’t has a firm grip on its citizens’ nads and they love squeezing.

#228 SilverSon on 09.21.17 at 12:20 pm

“I am told SCM is a Toronto journalist. Perhaps she would care to confirm this. — Garth”

If it’s true, I weep for the future of Canada.

#229 Gravy Train on 09.21.17 at 12:26 pm

I think I can say without fear of contradiction—even the Flopster may agree—that this has been the screwiest, screwed-up, and screwed-over comment section in recent memory! :)

#45 Greyhelm on 09.20.17 at 7:20 pm

Thanks for those three book reviews! I’ve just put holds on all three books at the library. There are 19 holds on Harari’s book Sapiens, so I may have a bit of a wait! :) Oh—and I’m also a boomer who still reads and thinks! :)

#96 JustMe on 09.20.17 at 8:45 pm

From the Web site you provided: “To obtain a copy of the Estimate Request for Canada Pension Plan (CPP) Retirement Pension form visit the Service Canada website at servicecanada.gc.ca or contact your local Service Canada office through the blue pages of your local phone book.

“Request two scenarios using the Estimate Request for Canada Pension Plan (CPP) Retirement Pension form:
• Retire at 60, start CPP at 60
• Retire at 60, start CPP at 65.”

Everyone should take CPP at 60. No exceptions. — Garth

Thanks to both you and Garth for sharing that information!

#230 OMG on 09.21.17 at 12:30 pm

There’s a trick about socialists that you have to know, if you want to learn how to “tax plan” around them.

Socialists tend to be wealthy. The working class are almost never socialists (with the exception for some reason, of teachers). While working class folks like unions, benefits, equal pay and that sort of thing, they hate taxation (because the middle class always get taxed more than anyone else).

Wealthy socialists tend to be from “money”. They are for the most part trust fund kids. Very few of them “came up” on their own. (Those who come up on their own tend to be more conservative, because they know how hard it is to make money and get somewhere when you come from nothing).

Trust fund kids tend to become socialist later in life, and it appears to be a form of trying to bond with a society which has always been inaccessible to them due to their family wealth.

So, taking into account the above, how does a person tax plan to survive a socialist government?

It is rather simple. Socialists will never knowingly tax themselves. They cling to their multi millionaire status, while attempting to help everyone else.

So you just have to make sure, that you are invested in the same way that they are. Socialists don’t run small businesses, for example (they don’t need to, a multimillionaire trust fund kid doesn’t need to earn 200K per year running a business, they get more than that off of their dividends). So they will tax the crap out of small businesses, because that doesn’t hurt them to do that.

They will not, however, tax dividends, because that is how the majority of them earn their money.

They will also never institute a wealth tax that would have the effect of reducing their own wealth. This may mean that any wealth tax they do put in place, has loopholes where they can hide their own money. Or it may have a “cap” (ie, anyone with a net worth slightly less than most of theirs, gets taxed).

These people are very, very good at protecting their own wealth while pretending to be “men and women of the people”. They are not. They are multi millionaire trust fund kids, who went to private schools, spend their vacations on private islands, do not associate with the working class other than for photo bombing and selfies, and are not you and me.

All you have to do is figure out the methods that they are using to exempt themselves from their own taxes, and then institute those methods in your own life.

…………

garth warned of reading the comments section.

You sir are delusional and have NO idea of the acts/intent of the wealthy. Your generalites speak of YOU. But keep the narrative as it appears to bring you peace

#231 Ace Goodheart on 09.21.17 at 12:31 pm

RE: #207 Manitoba Whale on 09.21.17 at 10:25 am

“Interesting way to look at it. Is it worth the lifelong sacrifice to save, LBYM, deal with FOMO? Will you ever get to the place where you can live off dividends, for example, and emulate the ‘wealthy socialists’ as you wisely described?
It is possible. As someone mentioned the other day:
Work hard, show up on time, don’t complain all the time.”

It is very possible. It’s actually a lifestyle. There are a couple of kids who are Garth’s prodigies so to speak (he occasionally mentions them in this blog and I believe he did so again yesterday) who actually did that at age 30 and have a web site chronicling their world travels following their retirement (at age 30!).

North America is set up to put people into permanent jobs with 25 year payment plans on their lives. It is set up that way by banks, government and the ultra wealthy. Opt out. A lot of people do.

#232 crowdedelevatorfartz on 09.21.17 at 12:34 pm

@#210 Ian
“I think blaming certain age groups and lumping everyone into one philosophical category in that age group is just ridiculous.”

*******

As the actor said on Inglorious Basterds
That’s a bingo!

https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjK1Ie92rbWAhXoxFQKHbw4DOIQyCkIKDAA&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DhaJLOvOwvkI&usg=AFQjCNGUXZtgsF0cs7pfpqkcTWxOUxzmag

#233 Ace Goodheart on 09.21.17 at 12:34 pm

RE: #207 Manitoba Whale on 09.21.17 at 10:25 am

When you “wake up” from your “life” as a debt slave, it is like waking up out of the Matrix. It is the best feeling you will have short of that first teenage sexual experience. It is amazing to be free of all the debt and the obligations. You start to think and to see things again, instead of just hating life and surviving it through any way you can. Life is not supposed to be a horrible experience, it is made that way and planned that way, for the benefit of a small group of people, at the expense of everyone else.

#234 T on 09.21.17 at 12:37 pm

#175 T on 09.21.17 at 3:12 am

Nope.

You get it right “T”.

1) There is an inverse relationship between rates and house prices.
2) The BoC dropped rates to “stimulate” the economy..and kept them there way too long.
3) Not everyone is a speculator and flipper. Those who wanted to buy home for their families (or for shelter) are forced to take on larger debt as the asset increases in value.

I get what you are saying, and that people should take responsibility, but re read my post. The BoC is NOT innocent in all this.

That last part went straight over your head apparently.

MF

——

You are a lost cause my friend. Keep blaming others for your problems, you will get very far in life that way.

To directly respond to your points.

1) Not always. This is not a direct relationship.
2) Stimulate they did. It didn’t mean people should have taken million dollar loans.
3) No one was forced for buy a home.

Keep trying. You might get it one day.

#235 I am told SCM is a Toronto journalist on 09.21.17 at 12:42 pm

I am told SCM is a Toronto journalist. Perhaps she would care to confirm this. — Garth

You are “told”, eh?

The plot and the competition thickens…

I hope “she” is throwing into a mix some vpn proxy.

One hour of content analysis would vocabulary and style fingerprint mostly anyone, unless they pay painstaking efforts to avoid this discovery and they have the intellectual and literary capacity to build a cover. The masters of this game can also pick their communication fingerprint gender at will on the fly.

Let’s get the popcorn…

I guess that’s a yes. — Garth

#236 Pre-retiree on 09.21.17 at 12:49 pm

Doubly upset at T2 now that I realize that not only does he fuel the fire to keep people like SCM going but that he also uses my taxes to do so…

#237 Wrk.dover on 09.21.17 at 12:54 pm

#225 Penny Henny on 09.21.17 at 12:00 pm
Why are teachers allowed to work 4 years and have their pay spread over 5 years so they can take a 1 year paid sabatical?

Make them use rrsp room like everyone else

—————————————–

A sabbatical is a paid study leave.

What you are referring to is a deferred salary leave. It helps prevent burnout, and gives new blood a chance at a trial year, costing the system less money. My wife did three years on and the forth off three times, and then 2 and a 1/2 on and 1/2 off. Cost about $100/ week take home back in the day when she cleared $500/ week. most teachers could not afford to do it. I stopped working altogether at 35 on her first year off. Here is why:

I had run out of payments and figured out I can make more of what after tax money will buy by not earning money. Want a $5000 chimney? Get $1000 worth of bricks and cement and make it. Want a $3000 transmission? Get the $400 grand master rebuild kit and make it. Want a $25,000 kitchen? Get a $4000 materials and make it.

I retired at 35 with a net worth of .2 million (my half) of which 1/4 of that was/still is, in tools and equipment. It was that easy. My wife retired 17 years later after working 14 and 1/2 more years.

She has a small 60% transferable DBP and life is excellent for both of us!

Some will be congratulatory on a situation well handled, while the majority of the current bloggers will pour on the hate and fury now! ‘magin.

M64NS

#238 n1tro on 09.21.17 at 12:55 pm

#203 Eks dee Sipal on 09.21.17 at 10:08 am
#162 n1tro …. I knew it! You ARE a wage slave, with some money saved, who thinks you are the $hit. My shoes still need shinin’, bro. Do you even understand the meaning of “Started from the Bottom”? The song is saying that Drake realized he couldn’t do it alone. He needed his crew. It’s a song of socialism, not conservatism. You, my friend, are a brainwashed bigot. And it’s sad that I have to say that… at first I thought you had some empathy as well as brains. Alas, I am disappointed again by a “Conservative”. Not the first time.
—————————————-
“Started from the bottom” isn’t a song about socialism. It’s about a guy who had nothing and is at the top and bragging about it. His “crew” aren’t the ones writing the lyrics or performing on stage. And his “crew” aren’t the ones who worked regular jobs to donate money to support Drake’s success. But nice try though.

As for being a “wage slave”. Does that make you feel better that I might be suffering like you? Can a person be successful and not be labelled “conservative” and a “bigot” to boot?

I doubt you read my response to your last rant but I don’t own a Tesla and I’m not the type to flaunt my success to anyone. I wrote that stuff to trigger SCM because I can predict behavior as evidenced by Garth having to delete the response.

I have played many roles in my life having started from the bottom. Immigrant (non white – because you know how bigoted non white immigrants are), poor student, entrepreneur, volunteer, commodities trader, “wage slave”, etc….although, given what I currently make and having zero debt, “slave” isn’t the appropriate word. More like “wage director” third in line to the pharaoh.
Keep on hating “bro” and see where that gets you.

#239 JohnnyBoy on 09.21.17 at 12:56 pm

#178 Steve French on 09.21.17 at 3:32 am
Checked out Smoking Man on his twitter periscope… sweet Jesus H. C. ….. Smokey was hammered!
I can see a brawl breaking out soon between Screwed Canadian Millennial and ole’ Smokey….
__________________________________________
Go back to the older ones, some are classic. Count the F-Bombs and when you get to 1000, keep counting.
Was always hoping he would do one without booze and explain his Forex ventures, but alas the 65 year old brain has been fried.

#240 Pre-retiree on 09.21.17 at 1:08 pm

#111 Smoking Man – I’m calling for a 73% tax on Defined Pension plans
It’s only fair.
________________________
You’re right Smoking Man.
In other words, and I am plagiarizing this from an article I read recently:
“A Canadian is a Canadian is a Canadian….except if you’re rich”

#241 Im stupid on 09.21.17 at 1:08 pm

Everyone is entitled to their opinion, even if it’s stupid.

What we have in society today is the same as it’s always been, the haves and the have nots. The only difference is that with technology every moment can be captured and shared. I don’t blame millennials for wanting, they’re like a homeless person outside a resturaunt watching others eat. It sucks, I’ve been there I know. The fact remains that we’re at an impasse those that have, earned it and don’t want to share. Those that want, want them to share.

There is only one problem with the situation. If suddenly a have not got some they wouldn’t want to share either.

#242 MF on 09.21.17 at 1:13 pm

T,

Don’t get what?

You just placed the blame on an millions of “others” for causing homes to be overvalued…then proceeded to say I should stop “blaming others”.

I don’t understand.

Anyways,

I said the BoC’s policies enabled our debt orgy. That is the point of monetary policy right? To influence people’s behaviours.

What I get is Economics is not a true science. It’s basically guesswork and unproven theory that everyone “hopes” works out well. Anyone who proclaims to know more about the topic is delusional but please lecture me some more.

MF

#243 n1tro on 09.21.17 at 1:14 pm

#209 CJBob on 09.21.17 at 10:43 am

I’m not disagreeing that the conclusion MIGHT be correct, but it’s not a conclusion that can be reached based on the data provided. This is an example of confirmation bias. Finding the conclusion that meets your predetermined opinion. (and again MIGHT be right).
———————————————–
Well said. We have a differing opinions in the past but technically could you not apply what you wrote above to your position on climate change?

#244 Alberta Ed on 09.21.17 at 1:16 pm

‘Tax fairness’ should include all government employees, including MPS and Senators — no tax breaks, freebies or gold-plated pensions. No special rights for indigenous people, either.

#245 Ian on 09.21.17 at 1:16 pm

China’s debt is going to be the next story coming down the pipe…sovereign debt just got downgraded…

They are the ‘new GTA’ lol.

http://business.financialpost.com/news/economy/sp-hands-china-expected-rating-cut-on-debt-growth-concerns-2

#246 MF on 09.21.17 at 1:17 pm

SCM is a journalist?

Not surprised. Can’t imagine having all that time to write comments while working three part time contract gigs 7 days a week like the rest of us Millennials. The rest of us trying to navigate our world.

Lol @ the boomers who got sucked in.

Shout out to crowdedelevatorfartz. You don’t have kids do you?

MF

#247 Ronaldo on 09.21.17 at 1:18 pm

Re: SCM

You’ve all been had. Total Troll.

#248 I am told SCM is a Toronto journalist on 09.21.17 at 1:18 pm

#235

I guess that’s a yes. — Garth

—-

You should have a better source, at least someone with English as a mother tongue.

Maybe T2 is playing a game with you to add some drama now that you uncovered his plot to steal the NDP voters :)

#249 Ponzius Pilatus on 09.21.17 at 1:18 pm

#149 Not A Victim on 09.20.17 at 11:17 pm
Garth,

Thanks for the straightforward advice! I’ll be using this breakdown as a guide. One thing you’ve consistently mentioned is income splitting but I can’t seem to grasp whether you’re talking about investment income or employment income. Some enlightenment would be fantastic! I’m the sole breadwinner in my family so my personal tax burden needs to be smaller.
————-
Move to Germany.
The tax system is very family friendly

#250 Screwed Canadian Millenial on 09.21.17 at 1:39 pm

Lol Garth, swing and a miss on that one. I’m not a journalist. You shouldn’t believe whatever Pizzagate-level conspiracies these boomers come up with. I’m just a long-time fan of your blog and got tired of the boomer GIMME GIMME echo chamber in your comment section. I’m a “he” btw.

IHCTD9 keeps calling me “she” because it thinks it hurts my feelings. Lol. Next he’s going to claim I have coodies. Like I said, a lot of these boomers are children.

Now my writing style is being analyzed? Lol. You guys are good for the laughs. Cmon boomers put the tin foil hats away. We’ve got a lot of Alex Jones wannabes here.

#251 TurnerNation on 09.21.17 at 1:42 pm

Silver son exactly. I’ve been saying Minimum Wage = Maximum wage under this marxism
They pretend to pay us…we pretend to work.

Say for fun google: Huffington post editorial board, click on Images.

Narcissus personified. Our future is here already.

#252 Screwed Canadian Millenial on 09.21.17 at 1:57 pm

Btw boomers, I take it as a compliment that you guys think I write so well that I must be a Toronto journalist. What an honour! I’ll be adding that to my resumé. Right after I submit it at Turner HQ, I can drop in at the Globe and Mail and Toronto Star offices as well. Such great publications. Better than that rag Sun.

#253 re., AG on 09.21.17 at 1:57 pm

They will also never institute a wealth tax that would have the effect of reducing their own wealth. This may mean that any wealth tax they do put in place, has loopholes where they can hide their own money. Or it may have a “cap” (ie, anyone with a net worth slightly less than most of theirs, gets taxed)

………

lol. Would you like their wealth spread to the masses? Kinda like how the middle class loves to spread its wealth? :)

your entire post was rubbish, this part deserved a highlight. Provide facts rather than pathetic rheteric

#254 Screwed Canadian Millenial on 09.21.17 at 1:59 pm

#247 Ronaldo on 09.21.17 at 1:18 pm

Whoever told Mr. Turner that I’m a journalist, that’s the troll. I’ve been nothing but honest here.

Methinks she doth protest too much. — Garth

#255 TnT on 09.21.17 at 2:07 pm

Where’s the beef!

People belly aching all over this site about Millennials and the best part is….

Wait for it….

Who raised these Millennials?

~queue the crickets~

Everything Millennials do that causes fists to shake in the air by the older generation is a learned behavior.

Who handed them the Gold Stars for showing up?
Who told them not to drink from the garden hose?
Who bought the gadgets at the end of their hand?
Who told them not to play in the street?
Who fed them Rotten Ronnies instead of teaching them to cook?

Lawlz!

#256 crowdedelevatorfartz on 09.21.17 at 2:11 pm

@#246 MF
“You don’t have kids do you?”
++++++

None that I’m aware of.
Why?
Are you a Lawyer specializing in paternity suits?

#257 CJBob on 09.21.17 at 2:12 pm

#243 n1tro on 09.21.17 at 1:14 pm
———————————————–
Well said. We have a differing opinions in the past but technically could you not apply what you wrote above to your position on climate change?
______________________
Thanks, I’m in a better mood today :-) Going up to Muskoka to see the fall colours this weekend and the weather looks like it will be amazing. High twenties. Proof of global warming? Of course not, I kid. Still…

I’m not sure I ever stated an opinion on climate change. With respect, what I did what disagree (a bit rudely I’m afraid) with your statement that we were writing blank cheques to India and China with no strings attached. Perhaps it was just hyperbole but some of the right wing enthusiasts around here might take it literally so I pointed out that the statement was incorrect in several ways.

#258 Herb on 09.21.17 at 2:18 pm

Screwed Canadian Millennial,

I apologize for the abuse you’ve been taking. As I pointed out a few days ago, “ideology is impervious to facts.” Look at the bright side: all the attacks on you have been ad hominem. There have been no factual arguments, only right wing talking points and rhetorical bludgeons.

But look at the really bright side: if, as Garth alleges, you are a Toronto journalist (male or female being immaterial on a non-misogynistic blog, right?), remember that Garth was one too, for the Sun, no less, and has demonstrated that there is life after journalism.

#259 IHCTD9 on 09.21.17 at 2:31 pm

#250 Screwed Canadian Millenial on 09.21.17 at 1:39 pm

IHCTD9 keeps calling me “she” because it thinks it hurts my feelings. Lol. Next he’s going to claim I have coodies. Like I said, a lot of these boomers are children.

__________________________________________

Well, I refer to you as “she” because you are female…

#260 oh dear on 09.21.17 at 2:38 pm

Btw boomers, I take it as a compliment that you guys think I write so well that I must be a Toronto journalist. What an honour!

………

oh no. You, definitely, are not. An angry troll perhaps.

#261 Pulitzer Prize Winning Canadian Millenial on 09.21.17 at 2:41 pm

#247

Methinks she doth protest too much. — Garth

———

Believe what you want Garth. I’m honestly trying to save you the embarrassment of believing something so silly. I have too much respect for you to lead you on some wild goose chase which is more than i can say about your fans here. You think I’m that Sara lady from the Toronto Star? Is that it? The one with the crazy last name? Because I linked her article a couple times? It was a great story and just the tip of the iceberg of what’s going on in this country in regards to the labour market. If Anything i have a crush on her.

I would point out that I’ve linked articles from a variety of sources. Toronto star, cbc, globe and mail, national post. No infowars or zerohedge from me. Anyways Garth i enjoy the conspiracies and analysis and the compliment that I write so well but I’m not a Toronto journalist.

Anyways as someone else mentioned, i would be interested in a post about your CPP at 60 comment.

Gotta go. Im on mobile. My editor is going to kill me if I don’t get this story done by 5.

#262 Tazi Bnu on 09.21.17 at 2:44 pm

If “fairness” is supposed to be the ultimate goal of tax policy, why didn’t the Deaus go after an easy target first. The trust fund strategies that they used for their family wealth. A trust fund’s main purpose is to reduce taxes. A trust fund has no employees, doesn’t produce any goods or services, and doesn’t take any risk other than investment risk. I’m guessing this a key part of Deaus’ financial plans, as they refuse to release their finances we can only guess, hence why they’re leaving out this one big tax strategy used by the uber rich.

#263 Eks dee Sipal on 09.21.17 at 2:44 pm

nitro, buddy, listen. I like you. You’re a lot like me. Probably same age. I have succeeded in softening up your rhetoric.

My throat dries up and my eyes water whenever I think about how far I’ve come and I congratulate you on your success also. Obviously, you don’t quite get the Drake song.
Never mind. I wouldn’t say I’m suffering. My only boss is maybe God, (maybe). Your particular race or background of hardship does not excuse you for the classless comments you make here. I confess, I didn’t have the time to read your response from the other day, but it appears that you just admitted to being a troll? I think you have much more to offer than that. Am I wrong?

So tell me. Do you have any dependants? Most right-wing leaning fools only have themselves to take care of and that certainly colours their worldview and leads them on a path to the dark side.

#264 kommykim on 09.21.17 at 2:50 pm

Toronto-area family on the hook for $37K commission after failed home purchase:

http://www.ctvnews.ca/canada/toronto-area-family-on-the-hook-for-37k-commission-after-failed-home-purchase-1.3599860

#265 Vlad on 09.21.17 at 2:51 pm

#48 What to say. I agree with this “Whiney” millennial. If you think you’re so smart, have you ever considered looking into the past to see what your profession could have afforded you 40 years ago? What your hard work could allow you to do? It’s black and white, DEAD obvious, that boomers worked less for more of the NECESSARY things in life. Food, shelter and education. This is NOT DISPUTABLE… These are facts.

However… to all the other whiney millennials I offer this: “The wise man adapts himself to the world. The fool insists that the world adapt itself to him”. This is the world. Deal with it. We’ll get our revenge when we claw back every benefit these people didn’t earn.

#266 derkavich on 09.21.17 at 2:55 pm

Let’s focus on technical instead of emotions. Please excuse my lack of insight or my ineptitude

Garth mentioned rate reset preferred ETFs. A quick search finds ZPR with a rate rest, but the other rivals or competitors do not have rate resets such as the famous CPD. Is there any techniques or methods to determine one to hold or split between them both ?

#267 Midnights on 09.21.17 at 3:00 pm

Jim Rogers says ETF holders will get mauled by ‘the worst’ bear market ever…
https://www.google.ca/amp/www.marketwatch.com/amp/story/guid/2351A012-9E88-11E7-AA90-B086B184E871

RR is a nutbar. — Garth

#268 Braj on 09.21.17 at 3:21 pm

#235 I am told SCM is a Toronto journalist on 09.21.17 at 12:42 pm
I am told SCM is a Toronto journalist. Perhaps she would care to confirm this. — Garth

You are “told”, eh?

The plot and the competition thickens…

I hope “she” is throwing into a mix some vpn proxy.

One hour of content analysis would vocabulary and style fingerprint mostly anyone, unless they pay painstaking efforts to avoid this discovery and they have the intellectual and literary capacity to build a cover. The masters of this game can also pick their communication fingerprint gender at will on the fly.

Let’s get the popcorn…

I guess that’s a yes. — Garth

I figured it out. SCM is Smoking Man.

#269 SilverSon on 09.21.17 at 3:25 pm

#250 Screwed Canadian Millenial on 09.21.17 at 1:39 pm
“Now my writing style is being analyzed? Lol. You guys are good for the laughs. Cmon boomers put the tin foil hats away. We’ve got a lot of Alex Jones wannabes here.”

– You’re right that I’m an analyst for a living. Although nobody needs to be an analyst to see that the SCM’s writing style undermines the points he/she is attempting to make. Wrong about me being a boomer though – I’m in the middle of X.

#252 Screwed Canadian Millenial on 09.21.17 at 1:57 pm
“I take it as a compliment that you guys think I write so well that I must be a Toronto journalist”

– SCM’s comments aren’t well enough written to be a journalist. That’s why it’s so sad if he/she actually is a journalist and writes like that unintentionally. But then someone named “I am told SCM is a Toronto journalist” feels the need to suggest to everyone it is intentional with the comment:

“One hour of content analysis would vocabulary and style fingerprint mostly anyone, unless they pay painstaking efforts to avoid this discovery and they have the intellectual and literary capacity to build a cover. The masters of this game can also pick their communication fingerprint gender at will on the fly.”

– Ignoring that the first sentence has the words in the wrong order (obviously written in haste for instant gratification just like SCM does), the comment strongly suggests that SCM might really be a journalist and posting under multiple names. Also seems to be suggesting how smart he/she is for being able to write in more than one writing style (which it really isn’t).

I like Happy Housing Crash guy’s rants about realtors better.

#270 Braj on 09.21.17 at 3:25 pm

#250 Screwed Canadian Millenial on 09.21.17 at 1:39 pm
Lol Garth, swing and a miss on that one. I’m not a journalist. You shouldn’t believe whatever Pizzagate-level conspiracies these boomers come up with. I’m just a long-time fan of your blog and got tired of the boomer GIMME GIMME echo chamber in your comment section. I’m a “he” btw.

IHCTD9 keeps calling me “she” because it thinks it hurts my feelings. Lol. Next he’s going to claim I have coodies. Like I said, a lot of these boomers are children.

Now my writing style is being analyzed? Lol. You guys are good for the laughs. Cmon boomers put the tin foil hats away. We’ve got a lot of Alex Jones wannabes here.

Sure we got some of those round here, but don’t speak ill about the $10,000 TFSA contribution limits. You’ll get crucified with that kind of talk.

I think it should be raised back up, I can barely wait for the Liberal reign to end in Ontario/Canada. I’m thinking the NDPs will be up next. If we go too far left, we’ll either end up in Civil War or with a Conservative government to bring the scales back to balance.

#271 Mike in Edmonton on 09.21.17 at 3:38 pm

#9 Screwed Canadian Millenial on 09.20.17 at 6:41 pm
In regards to Norway and those of you like Long Branch Apprentice complaining that it’s too expensive, yeah it’s expensive to you because you’re a broke Canadian with Loonie bucks. Norway is for Norwegians. They have a strong currency and high wages.

This comment from a Norwegian sums it up. https://imgur.com/hJQbYMM

Did I mention the $1 TRILLION (USD) in the bank?

Norway’s Oil Fund Hits $1 Trillion; Meanwhile, In Alberta..
http://www.huffingtonpost.ca/2017/09/19/norway-s-oil-fund-hits-1-trillion-meanwhile-in-alberta_a_23215451/

Damn, too bad Canada doesn’t have any oil eh…

inb4 some boomer screams about the NDP even though they’ve only been in charge for 2 years.
*********************************
This whole Norway has a $Trillion saved story has started to make its rounds lately.

Need I (unfortunately labelled as an old Millennial) remind you that Norway also has a personal tax rate of up to 78%, a VAT of 25%, and no sponge provinces to suckle away all the oil royalty revenues from Alberta…. Somewhere estimated to be around 1/2 a Trillion $’s in equalization payments provided from Alberta since it’s inception in the 50’s.

#272 Millennial Bashing on 09.21.17 at 3:48 pm

Screwed Canadian Millennial is a troll, and in it for the reaction of upset baby boomers.

I am gen X myself, but can assure you that since the Dark Ages, old generations have talked disparaging about ‘those young wippersnappers.’

“In my day, we wouldn’t do this foolish bla bla bla bla.”

The more upset the blogdogs get, the more fun SCM is having.

Leave it be, your generation isn’t better than other generations. Just different.

#273 crowdedelevatorfartz on 09.21.17 at 3:51 pm

@#261 Pulitzer Prize
“If Anything i have a crush on her.”
+++++

If you have multiple personalities that love each other……would you be considered LBGTQQX2?

#274 SCM supporter on 09.21.17 at 4:00 pm

Dear SCM,
Respect. Keep it up…
Another Screwed Canadian Millenial

#275 n1tro on 09.21.17 at 4:14 pm

#263 Eks dee Sipal on 09.21.17 at 2:44 pm
nitro, buddy, listen. I like you. You’re a lot like me. Probably same age. I have succeeded in softening up your rhetoric.

My throat dries up and my eyes water whenever I think about how far I’ve come and I congratulate you on your success also. Obviously, you don’t quite get the Drake song.
Never mind. I wouldn’t say I’m suffering. My only boss is maybe God, (maybe). Your particular race or background of hardship does not excuse you for the classless comments you make here. I confess, I didn’t have the time to read your response from the other day, but it appears that you just admitted to being a troll? I think you have much more to offer than that. Am I wrong?

So tell me. Do you have any dependants? Most right-wing leaning fools only have themselves to take care of and that certainly colours their worldview and leads them on a path to the dark side.
———————————————
Is it trolling to purposely trigger a troll? I have dependents. The very people that I speak out for when it comes to silly government meddling for some “noble” cause because it is currently popular to blame everyone else for their own issues. I’ve stated several times, depending on the topic, I can be liberal, conservative, or libertarian. It would probably surprise you how many topics we agree on so don’t label others a category based on their view of a particular topic.

Whichever way one leans is independent of their foolishness.

#276 I am told SCM is a Toronto journalist on 09.21.17 at 4:20 pm

#269 SilverSon on 09.21.17 at 3:25 pm

– You’re right that I’m an analyst for a living.

===

Not sure how could you pull this off, you must be good at praying.

#277 jess on 09.21.17 at 4:26 pm

fake news regarding unnamed quebec mayor …no worries google is creating an educational model on how to recognize news ;) waterloo students learn from home (3days/wk) on their “free” chrome books
==================

it stopped when the russian media exposed it 50 such accts. 600000 followers ..gorka knew all along that it was a russian propaganda site
tea party news indeed!internet russia
automate tweets that retweet each other
http://www.cnn.com/videos/politics/2017/09/20/pro-trump-twitter-accounts-weaponized-russia-us-election-ebof-pkg-griffin.cnn

“The hoax has such viral power that one website, the right-wing Canadian blog Debate Post, has published the story twice this year — within four days of each other.

https://www.buzzfeed.com/ishmaeldaro/dorval-mayor-pork-letter-hoax?utm_term=.js0Yj8KXzZ#.ipvzM42695

====================

The Ukrainian connection – Mr Artemenko
http://www.independent.co.uk/voices/russia-investigation-trump-paul-manafort-ukraine-yanukovych-mike-flynn-a7959161.html

#278 Braj on 09.21.17 at 4:33 pm

#274 SCM supporter on 09.21.17 at 4:00 pm
Dear SCM,
Respect. Keep it up…
Another Screwed Canadian Millenial

They only way you are screwed, is if you screw yourself.

Make your own decisions, live your own life. Don’t expect your friends, family, government, employer, or fellow citizens to bottle feed you.

#279 Smoking Man on 09.21.17 at 4:35 pm

#239 JohnnyBoy on 09.21.17 at 12:56 pm
#178 Steve French on 09.21.17 at 3:32 am
Checked out Smoking Man on his twitter periscope… sweet Jesus H. C. ….. Smokey was hammered!
I can see a brawl breaking out soon between Screwed Canadian Millennial and ole’ Smokey….
__________________________________________
Go back to the older ones, some are classic. Count the F-Bombs and when you get to 1000, keep counting.
Was always hoping he would do one without booze and explain his Forex ventures, but alas the 65 year old brain has been fried.
….

Why should I share my market insites with this blog when all I got was a lousy 60 book sales from millions of blog dogs. Every time I do a crazy periscope I get about 10 sales from twitter. I think I do a pretty good Hunter S Thompson imitation. Sales are exponentially growing. I should be able to buy a new TV in a few months.

As I’ve said all along Smoking Man is an invented character whos soul purpose is to generate interest in my book.

One of 10 current income streams. The secrete to building wealth.

#280 David W2 on 09.21.17 at 4:47 pm

#22 Cheese

If you earn $30k /YR, how can u possibly save $150k in 3 yrs? Something doesn’t add up.

#281 Dan.t on 09.21.17 at 4:52 pm

See how fun the blog comments get when things start to transition, people are pissed, especially the younger generation who got suckered in (based on their own stupidity and entitlement) to 1.2 mil POS tear down that a Boomer bought for 182k 24 years ago.

Dumb policies, get mad at the elected officials who lie, cheat, then lie and cheat some more and tell the people, you have to pay for it. Then vote them out. Only recourse but I’ve been around the world and some places people would be on the street ready to riot but…that only happens in Canada when the local hockey team loses.

Anyhow, http://www.ctvnews.ca/canada/toronto-area-family-on-the-hook-for-37k-commission-after-failed-home-purchase-1.3599860

That about sums it up. Who forced them to buy at the very top. It’s different this time! I guess not for those people. And sure, that realturd is going to donate the 37k commission to charity- haha- as if!

#282 I am told SCM is a Toronto journalist on 09.21.17 at 4:53 pm

#268 Braj on 09.21.17 at 3:21 pm

I figured it out. SCM is Smoking Man.

—-

You don’t know Smoking Man if you think he is not perfectly happy with being SM. Not to mention the “she” part.

#283 jess on 09.21.17 at 4:54 pm

Screwed Canadian Millenial
The problem isn’t training. The problem is there aren’t enough good jobs to be trained for. Will humans become as redundant as horses?

https://www.theguardian.com/technology/2017/sep/21/coding-education-teaching-silicon-valley-wages

#284 TEMPLE on 09.21.17 at 4:59 pm

Power to you, Screwed Canadian Millennial! I’m squashed somewhere in between the boomers and millennials (part of the so-called Baby Bust, if you ascribe to Foot’s demographic divisions) and have likewise been caught in the backwash of the boomer cohort. Even so, I’ve still been successful, and am very comfortable financially now in my mid-40s. VERY comfortable, and I only say that to set the tone rather than to brag because the important thing is that I agree with a whole bunch of the things you are saying. And even though fairer taxation will cost me money, it’s the right thing to do. So, keep on kicking ass! Some of us are on your side!

TEMPLE

#285 RyYYZ on 09.21.17 at 5:01 pm

#208 IHCTD9 on 09.21.17 at 10:36 am
All cars have spare tires – everyone has to change one eventually.
====================================

Everyone who drives should know how to change a tire. I changed one for my mom when I was 10. Also, when I get a new car I browse through the owner’s manual so I know stuff like where the jack and spare tire are, and where the jack points are (as well as what features there are, how they’re supposed to work, etc).

#286 Smoking Man on 09.21.17 at 5:06 pm

Don’t even read SCM.I do see the bugger puts in a good effort to get his point across. I respect that as one with very little work ethic.

Until you’re north of 50 you really don’t know shit no matter how well presented.

You will never hit the jack pot with a bet reading his well crafted bull shit.

#287 45north on 09.21.17 at 5:09 pm

CJBob: A breakdown was not given, so it’s hard to say how big the impact will be in the current fiscal year.” – This is a telling quote from the article because it also means it’s impossible to tell from the data provided how much of the drop was related to the tax change mentioned versus other factors.

I worked 10 years at Stats Canada. I don’t see why Revenue Canada cannot be more forthcoming with the data. I do remember Justin Trudeau promising a “data driven” policy approach. Stats Canada was very careful not to release data that could be individually identified. It was aware that if it released data for two farmers in an area, then one farmer could deduce the other farmer’s income. Even so Revenue Canada should be able to do some pretty good analysis of its own data. In the case of Canadian Controlled Private Corporations it doesn’t seem that hard to figure out if there is an increase or decrease in revenue. Broken down by province at least. But what about members of Parliament? They are a trusted group. If they were sworn not to reveal individual returns, I think they should see the data at a very fine level.

#288 Graeme on 09.21.17 at 5:09 pm

Silverson,

I gave the 70,000.00 away, out of my savings of 250,000. I did not claim it as a deduction. The money went directly to people I know who were in desperate straits.

Nothing makes me feel happier than to make a truly huge difference in the lives of people who are worthy but economically displaced for any number of reasons.

This is the secret, not just to a happy life but to a life of joy.

You may have amusement, ego enrichment from ‘winning’ in a competitive environment but likely not the deep emotional reward one experiences from helping others in a way that turns their entire lives around.

I remain gobsmacked at the cruelty I witness here on a daily basis. I hope it is born of ignorance and not arrogant sadism.

#289 OverheardYou on 09.21.17 at 5:10 pm

I’m also a Millenial, and I can’t help but disagree more with Screwed Canadian Millennial’s opinion and view. I know fellow millennials do drink $5 lattes, go out partying and expect a $60K salary with their ‘degree’ showing they can read a book and follow instructions.

I worked hard to earn a 1M in 10 years. I set a goal an forged a path towards it. I didn’t start out wealthy either, grew up in Scarberia. My parents are indebted, should be retired but can’t, still had a mortgage 30 years later. In fact they owed more than they originally bought the house for. Go figure. I worked hard and paid off their mortgage for them because that’s what I believe is right.

You can go an whine all you want, but I learned as a young entrepreneur, life doesn’t hand you things on a golden platter. If you want something, go get it. Don’t moan and complain about problems when your situation is based on the choices YOU made. Grow up Screwed Canadian Millennial. It also saddens me to see other millennials who feel the same way as you but have nothing to show for it. When was the last time you really tried to build something that wasn’t for yourself?

#290 jess on 09.21.17 at 5:43 pm

It is the owner responsibility to inspect his property
The finding comes as the mayor’s office prepares to launch London’s first publicly accessible ”name and shame” rogue landlord database that will provide information on landlords who have been prosecuted.

..”The owner of a three-bedroom house in north-west London where 35 men are living in rooms full of mattresses has insisted he had no idea of the conditions at the property and threatened to take legal action against the council for calling him a rogue landlord.

Brent council raided the property on Winchester Avenue, Queensbury, after complaints from neighbours. Mattresses were found wall to wall in all of the rooms except the bathrooms.

The owner of the property, Sunil Hathi, who is a doctor, told the Guardian he was shocked by the discovery and has pledged to evict the men as soon as possible.”

https://www.theguardian.com/uk-news/2017/sep/21/owner-of-house-where-35-men-are-living-threatens-to-sue-brent-council

#291 jess on 09.21.17 at 5:47 pm

entitlement

Electoral Reform Society questions value offered by the ‘worrying number of couch-potato peers and lobby-fodder lords’
115 peers claim £1.3m despite not speaking in Lords for nine months guardian uk

#292 AGuyInVancouver on 09.21.17 at 6:22 pm

#265 Vlad on 09.21.17 at 2:51 pm
#48 What to say. I agree with this “Whiney” millennial. If you think you’re so smart, have you ever considered looking into the past to see what your profession could have afforded you 40 years ago? What your hard work could allow you to do? It’s black and white, DEAD obvious, that boomers worked less for more of the NECESSARY things in life. Food, shelter and education. This is NOT DISPUTABLE… These are facts.

However… to all the other whiney millennials I offer this: “The wise man adapts himself to the world. The fool insists that the world adapt itself to him”. This is the world. Deal with it. We’ll get our revenge when we claw back every benefit these people didn’t earn.
_ _ _

This is a very good point. When my parents bought their house in suburban Richmond, it was roughly double my dad’s yearly wage as a university prof. Today that same house would be about 10x a new prof’s salary.

#293 Gravy Train on 09.21.17 at 6:26 pm

#242 MF on 09.21.17 at 1:13 pm

“… Economics is not a true science. It’s basically guesswork and unproven theory that everyone ‘hopes’ works out well. Anyone who proclaims to know more about the topic is delusional….”

Neoclassical economic theory—both at the micro and macro levels—is based on rational economic agents. Behavioral economics is mainly concerned with the bounds of rationality of economic agents, usually integrating insights from psychology, neuroscience and neoclassical microeconomic theory.

Wait a minute—why am I trying to educate this youngster? I must be delusional! :)

MF, you were getting pummeled with body blows by so many of the blogdogs for days on end, so you must be relieved now that SCM is the lightning rod for their wrath. It’s been fun and entertaining. :)

#294 Screwed Canadian Millenial on 09.21.17 at 6:41 pm

#287 45north on 09.21.17 at 5:09 pm

Any idea why Statscan constantly cuts off data instead of continuing them? So annoying when I’m trying to dig up older data sets. Seems just laziness to me. US sources like FRED and BLS are so much better than Statscan.

The case of the disappearing Statistics Canada data
http://www.macleans.ca/economy/economicanalysis/the-case-of-the-disappearing-statistics-canada-data/

#295 Screwed Canadian Millenial on 09.21.17 at 6:43 pm

#283 jess on 09.21.17 at 4:54 pm

You’re right Jess. There is so much less demand for labour. And the future does not look bright with huge advancements in automation. That’s why I’ve argued for the abolishment of the TFW program and a 2/3 reduction in immigration intake. Politicians don’t seem to have a clue and certainly don’t have labour and wages.

#296 Screwed Canadian Millenial on 09.21.17 at 6:43 pm

#282 I am told SCM is a Toronto journalist on 09.21.17 at 4:53 pm

Lol who told you this anyways? The Deep State?

#297 Screwed Canadian Millenial on 09.21.17 at 6:46 pm

#274 SCM supporter on 09.21.17 at 4:00 pm

http://www.greaterfool.ca/2017/09/20/special-4/comment-page-1/#comment-542576

Thanks bro I will keep fighting these boomers.

#258 Herb on 09.21.17 at 2:18 pm

http://www.greaterfool.ca/2017/09/20/special-4/comment-page-1/#comment-542559

Thanks Herb. You’re right the comment section is appalling sometimes. A lot of these people claim to be grown ups but they act worse than children.

#298 Manitoba Whale on 09.21.17 at 6:58 pm

#220 Centre Wing Millennial on 09.21.17 at 11:31 am
*****

Love the name. I am a Centre Wing Generation X’er.
Doesn’t have the same ring to it though.

#299 JL on 09.22.17 at 1:50 am

thanks Garth you never fail to lift my spirits :) you can’t buy dry wit like yours….

#300 Rogue One on 09.22.17 at 1:45 pm

I’ll keep posting this everyday so everyone in the GTA has the facts! but here it is again:

There are Alot websites that publish the list compared to sell price of GTA properties. TREB keeps trying to hide and shutdown, because they don’t want you to know this info.

My favourites:

Mongohouse.com (provides list/price and price history)
Zolo.ca (provides a summary of price trends by region)
Real Market Watch (for list/sell, but often gets shut down)

Yourself knowledge equip with, buying house before.

#301 McLovin on 09.22.17 at 3:49 pm

An ‘equity trader’ playing with the big boys, and she wants to hire you to put her into a standard, 60/40 diversified portfolio? She trades either institutionally or for retail clients?

This can’t be real. If it is, it is truly scary.

#302 Karl on 09.23.17 at 5:19 pm

Holding 60 individual stock positions is no different than a index fund or an ETF. Better to invest in a half dozen individual stocks (CVX, ORCL, BAC…..) and hold them than try to keep up with a large portfolio. Same with ETFs, they spread the risk for you and again a few is better than many. Yes i live in the US and yes I have followed my own advice.