No lid

LABS modified

Sheesh. Some people lead literal lives. They trust what government employees say (“I’m here to help you…”), or actually believe everything written on this blog. What a mistake that would be, as the CBC just found out.

Some days ago I referenced Kristy & Bryce, who until this week operated under the mysterious anons of Firecracker and Wanderer. They emerged from the primordial goo of this blog a few years ago after saving the huge sum of $500,000 by their late twenties and said they wanted to be millionaires. Four years later (more or less) they were, helped along by stuffing their money into the 60/40 balanced and globally-diversified ETF portfolio this blog is always yammering about (because it works).

So when they hit seven figures they came to my office with bubbly and we tossed a few. It was a happy moment, and then they embarked on a non-stop, semi-debauched tour of the world. Core to becoming millionaires by 30 was the fact this couple was never house horny, nor succumbed to the family and peer pressure telling them real estate was the only path ahead.

Instead they plowed it all, every dollar they could land, in the portfolio which exactly resembles the one I have described here. (17% in a mix of government, corporate, high-yield, real return bonds; 5% in REITs; 18% in preferreds; 17% in Canadian equities; 21% in US growth; 18% in international markets; 4% alternative strategies.) So when that mix hit a million, it was completely liquid. No need to engage a realtor, hold open houses or pay commission – they just started drawing off income, quit their day jobs, and hit the road.

So what went wrong?

Only this – they didn’t shut up about it. Inspired by their own success, K&B decided they could grow even wealthier by finding a way to monetize their message. (This is what ambitious, successful people so. They breed money.) So they started a web site for other Millennials who have been suckered into the real estate/debt vortex, dishing out homespun financial advice and eyeing a future advertising or subscription revenue stream. All good. Then came the publicity.

After hearing their pitch, the CBC took the bait and ran a big story which I referenced here some days ago, peppered with dreamy pictures of the kids cavorting with each other and their conquered world. It ended up being the most-read, most commented-on piece in the corp’s history, because (a) everybody wants to get rich, (b) Millennials only believe what they read online and (c) the anti-house message was mesmerizing.

Of course, of the thousands who commented, huge numbers crapped all over K&B because they are, well, Canadians. We’re all supposed to get mortgages, talk only about our houses, dis other assets and hate 1%ers. Lots of people also accused the CBC of giving the kids way too much attention, and of turning their news site into an infomercial for ‘Millennial Revolution.’

Naturally, there was an overreaction. The CBC recoiled in horror, doing a quick follow-up piece in which they helped spread the hate against K&B and managed to weave me into it. Of course, in the meantime I’d written about this brewing little tempest, pointing out that my young clients were easy to trash because they self-promote on the same epic scale as T2.

So here’s the story:

B and K modified

It said: “Turner, their adviser, praised the couple’s commitment to generating a $1 million portfolio in his blog. But he also finds them “nauseating,” referring to them as “tireless self-promoters and reasonably irritating juvenile 1%-ers.’” This was also repeated in the headline: “Their own advisor calls them ‘nauseating’…”

By the way, the reporter didn’t call. Worse, the poor thing believed I actually meant what I wrote, while everyone wo comes here routinely knows the only serious topics are canines and hormones. The rest – all that financial and real estate stuff – is façade.

Well, Kristy was not amused. “Would you mind confirming for Sophia from the CBC that you meant those statements as a joke?” she asked. So I did, once the reporter contacted me. “If you read my blog for a few days you will see that irreverence, sarcasm, snarkiness, self-deprecation and general pathos are key elements,” I pointed out.
Hours later, this edit appeared: “Turner, their adviser, describes them in his blog as “nauseating,” and “tireless self-promoters and reasonably irritating juvenile 1%-ers.” He tells CBC News he meant the words in a light-hearted way and emphasized that the two “are examples of what vision and guts, plus the ability to be creative and contrarian, can achieve.”

See how nice I can be when pushed?

The moral of the story: lobsters.

A fisher dude walked down the pier away from his lidless lobster pot, full of catch. ‘Why no lid,’ he was asked. ‘Won’t they get out?’ He looked back, then replied, ‘No way. They’re Canadian lobsters. When one reaches the top they all pull him back down.’

210 comments ↓

#1 Jimmy on 08.18.16 at 6:35 pm

Yes!!

#2 unbalanced on 08.18.16 at 6:40 pm

JIMMY—-you are the man!

#3 Jimmy on 08.18.16 at 6:42 pm

Everyone hates ______ for being number one.
Sound familiar?

#4 TopOThe on 08.18.16 at 6:44 pm

Go Jimmy!

#5 mitzerboy aka queencitykid on 08.18.16 at 6:52 pm

i’m happy to be balanced
thx garth

#6 Doug t on 08.18.16 at 6:53 pm

Jimmy u dawg

#7 common sense on 08.18.16 at 6:54 pm

Oi vey…

What has urinalism come too?

#8 Cecil Henry on 08.18.16 at 6:54 pm

The basis of liberalism and its god ‘equality’, is ENVY.

Canada is steeped in it, T2 is its latest leader.

Socialists of all stripes must just admit where they stand: Envy justifies all. ‘What’s mine is mine. What’s yours is ‘ours’ (ie: mine too!!)’

Envy is one of the seven deadly sins. And it is still with us today. Socialism justifies it, excuses it, hides it, enables it.

Want to see ‘socialism in a picture’??

https://punditfromanotherplanet.files.wordpress.com/2015/07/social-justice.jpg?w=590

http://3.bp.blogspot.com/_nHxd6JKTkN4/S8SxgtP2WdI/AAAAAAAAABM/XwR4qo9N09k/s1600/Snap_2010.04.13+13.57.50_003.png

#9 Jimmy on 08.18.16 at 6:54 pm

You thought things are bad now:
http://www.cbc.ca/news/politics/canada-china-visa-offices-foreign-workers-1.3714991

One more step to our sovereignty being eroded

#10 bdwy sktrn on 08.18.16 at 6:55 pm

http://www.cbc.ca/news/canada/british-columbia/tom-davidoff-study-1.3726641

Vancouver’s rental prices reaching new highs, UBC prof warns
UBC professor Tom Davidoff says the city’s rental prices are on track to increase by 20% this year

The main reason for these sky-high prices is the strong demand for rental housing in the city, coupled with limited supply.

The current vacancy rate sits at 0.6 per cent.
——————————
wanna live in van? ya gonna pay one way or the other

#11 Dwilly on 08.18.16 at 6:56 pm

I wrote after your original post on these too that while they had some good things to say and share, and had no doubt done well for themselves, their “tone” was not going to make them any friends.

There was a way to share and present this that would’ve prompted a lot more people to listen, and far fewer to disengage due to the tone. Too bad they couldn’t find it. Lesson hopefully learned. We all make mistakes, I just try not to make mine on the CBC.

#12 Doug t on 08.18.16 at 6:56 pm

Lesson for these two — don’t talk in public about your finances

#13 dirty details on 08.18.16 at 6:57 pm

Hi Garth,

Can you shed some light on some details, please – the important one:

1) they started with $500K, invested in a div ETF portfolio

2) 4 years later the value of their investment portfolio reached $1000K

Q: what’s the break-down of the $500K growth in 4 years?

How much additional money was deposited to the investment account over the 4 years, on top of the original $500K?

How much of the $500K gain was ROI on the initial and additional investments – which was, I assume reinvested?

#14 james on 08.18.16 at 6:58 pm

I wouldn’t expect much from the CBC. They are basically a taxpayer funded (to the tune of billions) version of the National Enquirer these days. Half the stories are just licensed from AP and Reuters, it seems. The only good journalists left in Canada are a handful of people at the Toronto Star.

Makes sense that Canadians would be outraged. They view housing in the same way a 13th century religious fanatic views God. To criticize housing as a route to wealth is to cross the borders of secularism into sacrilege. It is the only route to upward mobility, short of joining one of Ontario’s public sector agencies with 5 to 1 pension contributions.

It’s a good time to remember those surveys about Canadians and savings… what was it, 50% don’t have $2k in liquid assets? Hence the venom.

#15 Context on 08.18.16 at 6:59 pm

Upon seeing this story when it went to press my past experiences kicked into gear as asking myself why the grandstanding. There had to be a hidden motive going forward. I have personally known much younger than them where $1 million was pocket change. They kept humble, guarded, and made sure that only a few would know about their asset investments. The last thing they would ever want is public disclosure about money and they never bought expensive cars.

#16 Metaxa on 08.18.16 at 7:00 pm

A fisher dude walked down the peer away from his lidless lobster pot, full of catch. ‘Why no lid,’ he was asked. ‘Won’t they get out?’ He looked back, then replied, ‘No way. They’re Canadian lobsters. When one reaches the top they all pull him back down.’

Anecdote time!
Scientists placed a group of five monkeys into a pen.
In the pen was a ladder and on top of the ladder was a nice bunch of bananas.

Any time a monkey climbed the ladder to grab a banana the scientists hosed the remaining four monkeys down with ice water.

Soon the cold, wet monkeys were looking pretty hard at the monkey eating the banana.

As the monkey began another climb for yet another banana the remaining monkeys began to grab him and beat on him and prevent him from getting a banana.

Then the scientists removed one monkey, substituting a fresh one who had never seen the pen, ladder, banana or the other monkeys.

This monkey watched and then participated in the grabbing and beating of the climbing monkey.

Switch out another monkey, ditto.

Soon enough all monkeys had been switched out but they still continued to grab and beat any one who decided to climb up the ladder for a banana.

Despite never having been hosed down, none of the monkeys would allow any other monkey to climb the ladder.

The scientists switched one last monkey only this one knew sign language so they could talk to it.

After a day or so the scientists asked the special monkey why they grabbed and beat any monkey who tried to grab a banana.

His answer: Because that is the way it always has been done around here.

#17 not 1st on 08.18.16 at 7:01 pm

No joke, I totally find them nauseating, and smug and clueless.

And Garth, this isnt about home ownership at all, its about diversification, sufficient income and a realization of what it truly costs to live in this country. $40k, thats kraft dinner territory.

And honestly, I though you would be more prudent in your advice to them and mention that living on $40k for 40yrs is going to be tough, maybe they should top it up a bit. You always say running out of money is the biggest concern. I guess they are going after a side income shucking products to other millennials after leveraging off your fame.

#18 Randy Randerson on 08.18.16 at 7:02 pm

Crabs in a bucket mentality. Most Canadians hate success, that’s why they secretly want communism to take hold.

#19 Victoria Real Estate Update on 08.18.16 at 7:05 pm

My comment # 13 from yesterday elicited some of the most hilariously ridiculous comments from those who still try to argue that Canadian house prices are comparable to those in the US.

They get angry when I post examples of houses in the US that bring attention to the extreme degree of overvaluation of Canada’s housing market.

Looking at the examples I provided yesterday, I’m sure there are grade 5 students who could immediately pick out the obvious points that were made.

First, with similar incomes and interest rates in Canada and the US, house prices should be comparable (that had been the case for a long time until 2006). The US housing market isn’t considered to be overvalued.

Second, tiny little Moose Jaw, SK is considered by most to be a dry and hot dust bowl in the summer and freezing cold in the winter. The house I pointed out was the cheapest listing with the specs I listed. Canadians would be looking at approximately $380 K in Canadian dollars to purchase it.

To use the line of thinking of a realtor, the vast majority of Canadians prefer not to live in Moose Jaw. LOL

Third, examples of similar houses from various American cities point out how ridiculously overvalued Moose Jaw’s market is.

Americans would be looking to pay (in American dollars):

• Only about 25% more than the Moose Jaw house to purchase the house in beautiful San Diego – a city that millions of Americans choose to live in for obvious reasons.

• Well below half of the cost of the Moose Jaw house to purchase either the Palm Bay or Jacksonville house even though these locations offer residents warm summer weather and the ocean.

• Around 30% less than the Moose Jaw house to buy the Davenport house even though residents there don’t have to deal with the extreme cold that those living in Moose Jaw deal with. The Davenport house is much larger than the Moose Jaw house and has a backyard pool.

• Approximately a quarter of the price of the Moose Jaw house to buy one of the houses near Phoenix, even though AZ is considered by millions of Americans to be a desirable place to live.

Some of my haters, who couldn’t grasp the main point of my post, apparently thought that their personal dislike for Arizona justified the fact that the Moose Jaw house costs Canadians 4 times as much as the Arizona houses.

They also seem to think that their personal dislike for Florida (where many American celebrities and athletes choose to live) justified the fact that the houses in Jacksonville and Palm Bay cost Americans well below half of the coat of the Moose Jaw house.

Do Canadian celebrities and athletes choose to live in Moose Jaw for the lifestyle as much as America celebrities do in Florida and Arizona?

Sometimes it helps to lose the anger and bias and look at things objectively.

#20 Randy Randerson on 08.18.16 at 7:05 pm

Honestly, if GT finds me “nauseating,” referring to me as “tireless self-promoters and reasonably irritating juvenile 1%-ers”, I’d be very turned on. /wink.

Haters are going to hate, I’d pay them no mind. I’m halfway to my 7-figures portfolio too, better buy a shirt with a target sign on it.

#21 S.Bby on 08.18.16 at 7:06 pm

This is Canada; we are all expected to be equally miserable.

#22 bdwy sktrn on 08.18.16 at 7:08 pm

sky-high prices is the strong demand for rental housing in the city, coupled with limited supply.
————————–
forgot to add this is NOTHING like the situation in SF.

#23 WallOfWorry on 08.18.16 at 7:10 pm

#9….”You thought things are bad now:
http://www.cbc.ca/news/politics/canada-china-visa-offices-foreign-workers-1.3714991

I fail to see how this is bad. In fact, it is necessary. If you look at the demographics of our workforce we need to attract immigration to drive future growth that will sustain the social programs that most Canadians cherish. What is the concern?

#24 ANON on 08.18.16 at 7:13 pm

Nothing against lobsters (of any color), but I heard a better version of this story with terrestrial animals and gravity.

#25 Smartalox on 08.18.16 at 7:15 pm

When the CBC ‘broke’ the amazing story of the wanderer and the firecracker, my wife sent me a link to the article. She knows I’m a regular blog dog, but in as much as she’s on board with the ‘rent and invest (a bundle)’ strategy that has served us well for more than 6 years, she also still believes that Vancouver real estate will ‘always go up’, that ‘the money from China’ is making it so, and that ‘we missed our chance’ by her not buying something (ANYTHING) when she first moved to Vancouver, over twenty years ago.

After reading the story on CBC, she confronted me, and asked ‘so why aren’t WE doing that?’

To which I replied ‘but we ARE!’ Granted, not to the same degree as W&FC, but I pulled up the spreadsheet that shows we’re on track to clear $500k this year, based on savings and earnings, and with continued savings have our nest egg fully fledged in two years’ time, (five if we decide to buy a house, when prices correct).

Then she surprised me by pointing out she’d been saving a small surplus every month, and had amassed an extra $12k, year-to-date. That’ll shave another year off retirement, down the road!

We don’t save as aggressively as W&FC, but we already do enjoy annual vacations to Maui, in addition to regular travel elsewhere, and ‘little luxuries’ here and there.

#26 Alberta Ed on 08.18.16 at 7:16 pm

I wouldn’t take CBC seriously; no one else (with any sense) does. After all, they’re used to drinking their own bath water.

#27 TnT on 08.18.16 at 7:19 pm

I always said Canadians are Crabs in a bucket….. They can’t wait to pull someone back in from the edge.

#28 F.dover on 08.18.16 at 7:27 pm

Yesterday when the Smoking Man was in apparent trouble and he smoothed it over by saying he had tried his own ‘threat’ on himself and he liked it, that was world class political science teflon… smoothed over with K.Y.
Maybe some of that is what is needed with the pesky millenial issue.

#29 Jealousy will get you no where on 08.18.16 at 7:31 pm

Well I find these youngsters nauseating. I didn’t have a million until I was at least 35. And I did it the good ol’ fashion way. Hard work, and company granted stock options! Which unlike most other people that got them I held until they were almost going to expire. Sniff. I miss those days. Companies are a lot more fussy about what they hand out for long term incentives these days, only executives get options.

Alas, most companies do not issue options like the glory days. Back then they didn’t see the risk because oil stocks had been so sleepy and most people cashed them as soon as they were in the money. “You can’t eat options” was the mantra. But I didn’t need the money and was reluctant to cash them anyway since I had to pay child support on the proceeds and I thought I was paying enough. Then oil & gas went on a big run, and I ended up paying fabulously more child support than I would have ever imagined. As much as I had not intended to create such a windfall for my ex-wife, it was good for me too. Sadly, those days are long gone. Sniff. Sniff.

I saved and invested most of my windfall, whereas I think my ex spent it all. Lots of new cars and flyaway vacation trips. Not many single moms can do all that, but on the other hand my kids got to ride around in new cars and go on vacations too, so it wasn’t all wasted I suppose. Plus it factored into the schedule 7 calculation so my kids didn’t miss out on piano or soccer or what have you, which is a problem for many children of divorce.

Oh and then I took a bunch of the proceeds from the options (after tax, after child support) and invested in a REIT which almost doubled in 3 years as interest rates collapsed (didn’t see that coming I bought for the dividend, and yes it wasn’t very diversified), so I sold. Another big child support (and tax) cheque had to be written and vola! Another new car!

I feel like I’m in the bucket with the Canadian lobsters. Oh well because most of it was capital gains I got to keep more than 50% even after child support.

My kids are over 18 now and in university so I pay them directly and they use it for rent or tuition or what have you, but alas the windfalls are all gone and none appear on the horizon.

So what is the point of this pointless rant? If you win the lottery (or luck out on stock options and real-estate speculation), you should visit someone like Garth and not the car dealer or travel agent. It’ll change your life much more permanently.

Oh and back to our nauseating millennials, who have managed to get featured by Garth several times now, they only have $500,000 a piece, so if I were them I would still be trying to kick the pot up. $500,000 isn’t enough to retire on at 30-something. That’s just advice from an old guy. Great they got to take a year off and see the world, why not they are ahead of schedule, but they should probably go back to whatever they were doing to save all that money for a while if the new website doesn’t work out. Or they could do both. But they are too young and not sufficiently funded to retire now IMHO. Plus, they were obviously high earners so they are wasting a key asset by not working.

#30 wallflower on 08.18.16 at 7:31 pm

Media, writ large, has not done a decent job in 25 years. CBC is the worst of the critical thinkers (conflicts of interest). G-man, you should have not engaged. It then goes down to their impoverished level.
You can send them my email address. I will take the fu**ers on.
Institutional media is yesterday. Your blog is today.
It rocks.

#31 AB Boxster on 08.18.16 at 7:36 pm

The CBC has unfortunately degenerated into an ultra liberal, left wing , T2 pandering, conservative idea hating, hive of social justice engineering opinion forming drones, whose politically correct groupthink is served up to Canadians and called news.

#32 Context on 08.18.16 at 7:37 pm

#28 F.dover :- Smoking Man went out grocery shopping tonight in Mississauga at Starsky to stock up.

#33 Doug t on 08.18.16 at 7:38 pm

#9 Jimmy

Canada -like many western countries – is suffering from low birth rates and our super intelligent politicos think the answer is to open the flood gates. Canada won’t be your/my canada in another 30 to 50 years – we can thank T2′ father for starting the sea of change instead of figuring out ways to encourage citizens to have children. The world is evolving and the facts speak for themselves – for example statistics show that if the century long trend continues than Canada will be 50% Muslim by 2050 by exponential growth. In Europe it will happen much quicker – for example stats show that the Netherlands will be 50% Islamic in 15 years – so it seems to be a natural consequence to our own countries ineptitude over decades and just allowing constant increases in immigration – time always tells

#34 F.dover on 08.18.16 at 7:43 pm

I too am starting to drink Garths cool aide…here is what my GIC,s are not doing for me. US inflation calculator

http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=5048&year1=2000&year2=2016

#35 X on 08.18.16 at 7:45 pm

Of course CBC ignored any and all compliments to the couple for their financial discipline. They saved, budgeted, set out goals, sought out advice from professionals. Good on them. How many of the haters have done any of those things.

Congrats again to the couple for achieving their financial goals.

Lobsters….funny. Is that why the Liberal party colours are red too?

#36 ww1 on 08.18.16 at 7:53 pm

#13 dirty details on 08.18.16 at 6:57 pm
What’s the break-down of the $500K growth in 4 years?
How much additional money was deposited to the investment account over the 4 years, on top of the original $500K?
How much of the $500K gain was ROI on the initial and additional investments – which was, I assume reinvested?

The question has been asked and answered several times over the last couple of weeks. The analysis always goes something like this :

#106 Herb on 08.16.16 at 9:43 am
The simple facts of the case would have avoided a lot of unnecessary excitement – save $893,414 over 8 years, add $125,000 in investment returns, and you’re a self-made millionaire. Duh.

#37 palebird on 08.18.16 at 7:53 pm

‘No way. They’re Canadian lobsters. When one reaches the top they all pull him back down.’ Exactly Garth and that is why I am not a proud Canadian ..that plus the horror and the almost unbelievable feedback on the murder of a young man in Saskatchewan the other day. I am from Saskatchewan and although the act was sickening it was not that surprising.

#38 Lobsters in Europe on 08.18.16 at 7:55 pm

For what it’s worth, in many northern-Euopean countries lobsters not only pull the top ones down, they already spring into action when they see one starting to float upward. The mere suspicion of such a lobster can, in fact, already lead to quite the pull.

#39 Cory on 08.18.16 at 7:56 pm

I’m Canadian but glad I’m not human. I was excited for these people and even for Garth since obviously publicity is good for business and the blog alone is a lot of work and takes a tremendous amount of time to build a following but it is obviously paying off now and that’s great. These kids made a choice (a good one) and stuck with it. I say good for them!

I’m different that way I guess. I’m able to put myself in other people’s shoes to “see” through their eyes and doing this certainly gives a completely different perspective but it also helps tremendously in investing. I realise the work and dedication that is required not to be mediocre like our society wants us to be. How dare anyone get better grades than my Johnny!! Scores in sports?? say WHAT??

They should have kept their mouths shut about all of it and just go live their lives. Yes, I understand the thought to monetize their experience but it’s futile. For them to continue to comment about their wealth and lifestyle now will only breed more contempt from the jealous losers that can’t get off their couch and figure things out.

I do my own investing. I’ve put in tremendous amounts of time to learn (for many other things too), still do and we have certainly hit our stride so not everyone is a failed DIY stock picker. Anyone can do it in today’s world but people are lazy, want others to do things for them, and show their human traits of jealousy and pettiness when they can’t understand something and see others who are perceived to be doing better than they are. People think we are poor and I tell them we are. We are but we are also excellent money managers and run our household as a business with a rock solid balance sheet so we get by ok and love deflation since our cash is worth more and rent is dropping like a rock as expected.

We live liquidity with zero debt and when people ask how we live without having to work a lot, I say we live on love and then keep on moving. I used to attempt to discuss things but it was a very frustrating event most times because I could never understand. Why bother? so I don’t.

These kids need to do the same, get back below the radar and enjoy their just rewards/fruits of their labour otherwise they will continue to see true human nature online as they have seen recently.

#40 Cecil Henry on 08.18.16 at 7:57 pm

DELETED

#41 Metaxa on 08.18.16 at 7:58 pm

And honestly, I though you would be more prudent in your advice to them and mention that living on $40k for 40yrs is going to be tough, maybe they should top it up a bit.

Um, well I see it like this.
Start with a million, take out $40K year one…meanwhile that million is still growing while you spend the $40k.

Next year its a million and a bit…take out another $40k, the portfolio grows despite the removal…or how about you take out only $20K month one and leave the other $20 in for half a year, it grows.

So on and so on…soon you will be able to take out $50k, then $60K and you still haven’t eroded the original million unless you want to buy a pair of matching Teslas or something.

#42 Mean Gene on 08.18.16 at 7:58 pm

To be Canadian you have to talk about hockey especially during the summer, buy lottery tickets and yammer on about real estate while drinking Timmy Ho’s coffee.

#43 tkid on 08.18.16 at 7:59 pm

#13, you want detailed statistics, GO TO THEIR FREAKIN’ WEBSITE! Jeebus, the number of jerks who post here demanding information because they’re too lazy to read a few posts is astounding.

And I’m not surprised that the cbc’s journalistic standards are lower than the National Enquirer’s. There have been a number of times where the cbc have shown they possess utterly no ethics.

#44 YVRpeasant on 08.18.16 at 8:00 pm

I think what people forget about the Millennial Revolution message was the first part that said, GET A WELL PAYING EDUCATION/JOB.

People say “well their situation isn’t typical because they have high salaries.” which is true, but that’s part of the message. It’s just too late for the majority of people in their late 20s and 30s who’ve already chosen their careers.

As I recall, they were banking over 100K/yr after living expenses by the end of it. They probably only made 100-200K in investments over the whole time. So even if they dumped it all in a chequing account they’d be in the same place in another year or two.

Not to downplay the importance of investing (its what will keep them afloat going forward), but making big and spending little is really what got them there.

#45 The Spectre on 08.18.16 at 8:07 pm

Well, nauseating is knowing that Canadians pay 1 BILLION dollars for this crap of CBC EVERY YEAR.

But hey, what to expect from a population that elected Trudeau!?

Btw, think i our dyslexic smoking man mentioned something about they should remain anonymous. Totally right.

Poor couple, victim of their own success.

What a bunch of losers those haters.

#46 WallOfWorry on 08.18.16 at 8:12 pm

If we believe that the Canadian real estate market is a bubble waiting to burst how do we not see the same in the bond market? Arguably, this bubble is much bigger with far greater implications?

http://www.marketwatch.com/story/why-hedge-fund-honcho-paul-singer-is-calling-this-the-biggest-bond-bubble-ever-2016-08-18?link=sfmw_tw

#47 WallOfWorry on 08.18.16 at 8:15 pm

#33….”Canada -like many western countries – is suffering from low birth rates and our super intelligent politicos think the answer is to open the flood gates. Canada won’t be your/my canada in another 30 to 50 years – we can thank T2′ father for starting the sea of change instead of figuring out ways to encourage citizens to have children”

Doug: You are kidding right? Canada’s history is one of immigration….it is how we built the country that we have become. Our cultural diversity helps us attract the best and brightest for who wouldn’t want to live in Canada? Let me guess….you want to build a wall?

#48 crowdedelevatorfartz on 08.18.16 at 8:17 pm

The CBC, or “the Corpse” as Frank magazine affectionately dubbed it, deserves nothing more than a financial enema to cleanse the socialist, feminist, politically correct, anti male, anti money, anti everything success related ……and then take their cushy govt garanteed pensions away as well.

#49 Quebec is Great on 08.18.16 at 8:19 pm

Kudos to K & B for “grandstanding”. They knew what was going to happen and did it anyway. If their message helps prevent even 1 person or family from enslaving themselves to a lifetime of debt due to a bad decision then they know it was worth the negative publicity. Bravo to K & B for taking on that pain as it was a selfless act that we all should respect them for. Where else have you seen such huge publicity demonstrating sensible financial wisdom with values aligning with those of this blog.

From my standpoint K & B prove the point of this blog and will probaby save thousands of house horny people from a lifetime of debt.

And yes, for the record. .. anyone that has ever read even one of GT”s blog post know it was meant jokingly.

#50 Yuus bin Haad on 08.18.16 at 8:26 pm

Imagine having to explain a throwaway.

#51 Crab on 08.18.16 at 8:28 pm

Stereotypes… What’s next? Ethnic jokes?

#52 Smoking Man on 08.18.16 at 8:31 pm

The renovation are done. Got a new huge telescope, good supply of JD. Lake Maskoka bitches….

Aliens are mine tonight…

Oh those kids got beat up huge in the comments of that communist CBC website.

What do expect from the lunatic left.

#53 Millenial on 08.18.16 at 8:32 pm

Honestly Garth, I’m embarrassed for you that you care so much about the CBC. Just ignore them, and continue blogging…. jesh.

#54 paulo on 08.18.16 at 8:34 pm

Hey interesting story, these kids did well played the game of life well it seems. to bad far to many have fallen into the house lust syndrome i hear it daily from my employees moral of the story get your priority’s right and stick to them be balanced in your investments,follow the advice found here. do not become a pawn in the real estate ponzi game playing out in many areas particularly yvr,yyz or any spot within 100 nm of the above good luck remember caution diligence and common sense are your friends

#55 Nero on 08.18.16 at 8:34 pm

http://www.rbc.com/newcomers/ +

http://www.cbc.ca/news/politics/john-mccallum-substantially-increase-immigration-labour-shortages-1.3718831 +

http://www.cbc.ca/news/canada/british-columbia/beijing-capital-airlines-announces-flights-to-vancouver-1.3725804
=
No real estate correction in YVR, or anywhere else in Canada. it’s nothing personal….’Welcome to the Machine’.

Pass me my fiddle….

#56 Keeping the Faith on 08.18.16 at 8:36 pm

Thank you Garth for this extremely educational story and K&B update!

The wife and I are coming up to a similar situation as K&B. We haven’t unshackled yet from the chains of the corporate world but are considering the time is nearing and because of our relatively young ages, we expect a lot of pushback from family,friends, coworkers (temporarily).

As a result, the K&B story in MSM grabbed our attention to “How’s this going to go?”. We have our answer, jealousy and ignorance is a ruthless combination of human emotions.

I think we will stick with plan A and tell people we are going to live simply and not advertise our high network and large nest egg as a result of balanced, regular investing, learning how to manage our money and rejecting home ownership.

I’ve concluded: people don’t listen, never want to learn and are happy living in their own world views … never needing to improve.

Thanks a Million Garth! (pun intended)
… for everything you do to educate, raise the bar on personal finance knowledge and show what it really means to ‘put yourself out there for the betterment of society’.
You are a good man.

#57 Vancouverless on 08.18.16 at 8:38 pm

Garth, the only real issue I have with the whole story is that it seems largely neglected that the two were highly trained people in the IT field who had both large paycheques and could live frugally. The large income seems very much over looked.

I gross less than of what they do, made the bad, bad, life choice of doing a PhD, and yet at about the same age, without the benefit of cohabitation with a SO to cut living costs, have roughly half of their per person net worth (all liquid assets in a similar portfolio.) If I had their income for so many years in my 20s, I probably could have outdone them based on my lifestyle and investment strategy. I still have yet to see a six figure paycheque but I’m not butthurt about that.

The biggest difference though? I chose a career path that I actually enjoy. Their blog is hard to read with all the anger and anxiety. They may have won the finance game, but they still come off as losers for being so angry and bitter. It is nauseating. That stuff destroys a person internally. I can do frugal and cheap with a strong focus on savings like they did, but at least I don’t hate my everyday life or my job as a scientist.

#58 cbc crap on 08.18.16 at 8:48 pm

#31 AB Boxster on 08.18.16 at 7:36 pm

The CBC has unfortunately degenerated into an ultra liberal, left wing , T2 pandering, conservative idea hating, hive of social justice engineering opinion forming drones, whose politically correct groupthink is served up to Canadians and called news.

— 00 — 00

I completely agree. I have stopped going to the website because of how distorted the propaganda machine is over there.

#59 acdel on 08.18.16 at 8:52 pm

That’s the problem with a certain sector who wish to crow about their success as apposed to keeping your big mouth shut and enjoy your life as you designed it. Seriously most people could give two hoots. Enjoy and shut up! Financial opinions are always regarded well; your lifestyles, who cares?

There was a great book a few years back named “Millionaire next door” I enjoyed it and it brought a whole new outlook on a way of life.

#60 JO on 08.18.16 at 8:53 pm

The sad and pathetic reaction to the success of these two merely reflects our ongoing moral decline that is an effect of the fraudulent monetary policy and government interference in markets (CMHC, tax policy , etc).
The majority of those commenting negatively are sad failures and mostly in debt. They are losers. As Canadians we need to worth a lot about these morons who attack success and look to corrupt politicians to steal from us. Add in these mostly young losers , growing numbers of boomer welfare losers and large numbers of government workers and their well off retirees and you have a shit storm brewing. As the debt bubble dies out and unemployment rises with explosive tax increases hitting from all levels you can expect the scum to attack anyone who has been prudent
These smart young investors will likely fave rising capital gain and dividend taxes and inflation
Let’s just hope the pond scum in Canada’ s capital doesn’t pull a banana republic and confiscate RRSPs and TFSAs once they take what remains of our taxable wealth through inflation / currency destruction and the taxation of the illusory gains

#61 ANON on 08.18.16 at 8:53 pm

Lesson no. 1 in bubbles:
Be especially liquid and mobile if you live here.
Lesson no.2: be liquid and mobile in general, it can’t hurt at all (except your comfort, but that’s a given in any case).

#62 Context on 08.18.16 at 8:53 pm

Bayview Village :- Is there any negatives in the area? It is empty and appears nobody has ever lived there with a prime view. Condo high rise 2+1 with 2 bathrooms $245,000 with taxes at $2,676.21 and a corner unit with a good balcony. Subway is a short walk and building is not old.

#63 J on 08.18.16 at 8:59 pm

My father always said “the easiest way to have money is don’t spend it”. So their approach is hardly new. Gloating isn’t new either, but the latter isn’t quite so smart. A lot of people work hard at their jobs, and by doing so, meaningfully contribute to society. I’m sure these two did not build the planes they fly on, or pilot them, load their baggage, or serve their own drinks. They didn’t build the hotel they stay in, harvest the food they eat, weave the fabric of their clothes…etc., etc. But they certainly benefit from a portfolio stocked with funds backed by companies filled people who do these jobs. I’m glad they worked hard and saved money. More people should. But to become non-functioning members of society and to gloat about it – not such a great message from two people so obviously able to be and do so much more. These two should hope that they have children willing to be more industrious for longer in life as, to quote my mother, ” who’s going to wipe your ass in the nursing home”.

#64 Barb on 08.18.16 at 9:07 pm

Great post!

CBC is the most sickening left-wing, revolting and disgusting media out there.

Pisses me off my tax dollars fund their drivel.

And that H insists the radio alarm is tuned to their schlock at 6 a.m. daily. Gets me out of bed though just to turn the crap off.

Their “interviewers” were all born under the same rock.

#65 ShawnG in TO on 08.18.16 at 9:08 pm

well the reporter probably just read a few pages of this pathetic blog, didn’t understand much of it, so just lifted your words, err, i mean, quoted your words, and end up upsetting everybody.

it is my guess that the reporter probably doesn’t have much sense of humour either. but i mean that in a light-hearted way.

#66 Cici on 08.18.16 at 9:13 pm

What a pathetic excuse of a “journalist” that Sophia person is…real journalists contact their sources for original quotes and cross-reference for validation. Unfortunately, not a lot of real journalism going on in Canada anymore.

Anyways, Firecracker and Wanderer, your miles ahead of most of your detractors, so keep doing what you are doing and revel in/profit from the hate.

Personally, I think the feisty Ms. Firecracker should show off her fight by mentoring some average mediocre moron(s) with average salaries (like myself), publically flaunting them to a new state of financial nirvana for all to see and envy. Let the haters put that in their pipes and smoke it

#67 WUL on 08.18.16 at 9:21 pm

About 15 months ago I called for American Pharoah in the Preakness for the Triple Crown. Let me turn from the equine species to the human species. If I am wrong, I will serve ice cream at Belfountain with Smoking Man. Rum and Raisin will be replaced with JD and Raisin.

Our sprinter De Grasse is a nice story. Usain Bolt will win with a romp in the 200 metres which goes in 10 minutes.

From the equine sphere we know that if horse A and horse B have the same rapidity of stride but horse A has a longer stride, horse A wins. There is no significant difference in the rapidity of stride between Bolt and De Grasse, hence the Jamaican wins going away.

If my prediction is wrong, as it usually is, it will be fun to work along side a Nectonite.

#68 JSS on 08.18.16 at 9:21 pm

This is an interesting blog today, showing how envious Canadians are.

Many years ago, I worked as a manager for a large local organization. It was my first management job, and the org taught me a lot about what discussions happen in the management boardrooms, that cubicle works are never privy too. One day, my boss and I were interviewing for supervisors. After the first interview, my boss said to me to go look in the window to see what car the guy is driving. I asked why? He said that if he drives a nice car, it will cause jealousy and resentment among the staff. They couldn’t stand seeing someone driving a decent car. Several months later, I bought an Audi A4. I didn’t know that my boss drove that black Jetta. I was let go a month later.

Moral of the story is if you have money, keep your mouth shut and act poor. If you have a nice house, don’t advertise. If you have a nice car, drive it in the evenings or weekends. Or else, get used to walking around with a target on your back.

#69 I'm stupid on 08.18.16 at 9:22 pm

Isn’t it funny that a couple of 30 somethings that know nothing of investing are giving advice. They’re message is basically live under a rock and give your money to someone who actually knows what to do. Here’s some advise; don’t eat yellow snow!

#70 S.Bby on 08.18.16 at 9:24 pm

‘Renting is a beautiful thing’: The case against home ownership.

http://www.theglobeandmail.com/real-estate/mortgages-and-rates/renting-is-a-beautiful-thing-the-case-against-home-ownership/article31458725/?reqid=9351b12d-da76-4efd-bbb7-336434de67d4

#71 Freedom First on 08.18.16 at 9:24 pm

Yes. I know how Kristy and Bryce feel. It is the reason I have never desired to become a “Face”, and I would have, if I had not made the decision to change course.

Look at Garth, and all the hate mail he receives, I don’t know how he can stand it. Must be with the help of his abs and gonads of steel, plus the Amazons, headed by Dorothy, and his security commander, bandit.

For myself, a single man who loves: a) living alone, b) women, c) Freedom, d) Truth, e) Financial Independence, is, of course, going to be both revered by some, and hated/envied by others. It’s human nature.

Look at the hate comments some of the dawgs receive here. Mainly directed at the truthers. No surprise.

#72 ww1 on 08.18.16 at 9:25 pm

#41 Metaxa on 08.18.16 at 7:58 pm
Um, well I see it like this. Start with a million, take out $40K year one…meanwhile that million is still growing while you spend the $40k. Next year its a million and a bit…take out another $40k, the portfolio grows despite the removal…or how about you take out only $20K month one and leave the other $20 in for half a year, it grows. So on and so on…soon you will be able to take out $50k, then $60K and you still haven’t eroded the original million unless you want to buy a pair of matching Teslas or something.

Everything old is new again.

link :Let me Google that for you

#73 broader mind on 08.18.16 at 9:27 pm

Read Dando Shaft by Don Calhoun. He was the peoples millionaire .

#74 Long Branch Apprentice on 08.18.16 at 9:28 pm

Typical Canadian reaction of zero sum thinking. If someone else is successful, then it must take away from your own achievements.

How many times have I hear my peers try to subtly brag about how much their house has gone up in value, but when I talk about buying cars cash or my 6 figure investment portfolio, the talk quickly changes to how I’m throwing away money on rent or how I’m paying someone else’s mortgage.

It’s sad really, to watch grown ups try to one up one another.

And where does this behaviour incubate?

Hmm…

#75 Grooby on 08.18.16 at 9:29 pm

It’s interesting how you manage to get a shot in on Trudeau, even if it’s completely irrelevant.
‘Socialism’ is about sharing things that are better served by being available to public as a shared good, and not for profit (ie health care). A number of posters today are drawing a very tenuous link between greed and envy and socialism. People with any measure of common sense and rational thought know it is the opposite; pure capitalism thrives on greed and envy.

There’s a reason that Norway has the happiest people in the western world. They’ve removed ‘greed’ as a primary motivator for living. If only we could be so lucky here.

Now bring on the haters…

#76 Go to AA Smoking Man on 08.18.16 at 9:34 pm

#52 Smoking Man on 08.18.16 at 8:31 pm

The renovation are done. Got a new huge telescope, good supply of JD. Lake Maskoka bitches….

Aliens are mine tonight…

Oh those kids got beat up huge in the comments of that communist CBC website.

What do expect from the lunatic left.

— 384

#84 Smoking Man on 07.27.16 at 9:27 pm
I don’t know why I share this shit with all you bastards.
Having no friends by choice this my only outlet. Is that not fkd up or what.

An alcoholic with no friends, what a surprise. Best thing is to come onto the internet and talk with all your imaginary friends. Stop being such a pussy and get some help.

#77 Smoking Man on 08.18.16 at 9:40 pm

#58 cbc crap on 08.18.16 at 8:48 pm
#31 AB Boxster on 08.18.16 at 7:36 pm

The CBC has unfortunately degenerated into an ultra liberal, left wing , T2 pandering, conservative idea hating, hive of social justice engineering opinion forming drones, whose politically correct groupthink is served up to Canadians and called news.

— 00 — 00

I completely agree. I have stopped going to the website because of how distorted the propaganda machine is over there.
.

If I didn’t drink so much. Developed a work ethic. I unleash Smoking Man on the CBC comments section.

They would shut it down. I would trigger so many mind fkd teachers pets that mass suicide would entail.

And the left keeps encouraging me to quit drinking…
There would be consequences.
Further confirmation that they are truly insane..

Let rabid dogs sleep.

#78 European on 08.18.16 at 9:41 pm

If you make good doe or are successful these days you have to stay quiet, and keep it on the down low.

If anyone even gets a sniff of the fact that you are good at what you are doing they will try to figure out the key to your success and attempt to imitate.

Very few these days try to carve out their own path.

What makes it harder is the social media age that we live in today. You can’t hide, and you can’t hide your success. The imitation more than ever is now becoming a factor when carving your own path. Everything has been done and documented, so making better decisions than everyone else does not necessarily prevail to someone just copying what someone else did. Sad reality of today. As countries China and Russia are the biggest culprits, and often this is engraved in their culture.

I would say another phenomenon with these two cultures is flaunting your wealth. But that’s a different story. In this case the attempt for media attention is obviously a business decision, which in my mind discredits their message somewhat. Non the less, the bigger issue of everyone trying to copy everyone else’s success or bring them down has been well described in this blog.

#79 Freedom First on 08.18.16 at 9:43 pm

#63 J

J. You are entitled. Listen up.

That is okay. I know I owe nobody nothing. And nobody owes me nothing either. This is good.

Also, I will decide everything I do or not do, in my life.

However, J, feel free to KMA.

#80 BOOM! on 08.18.16 at 9:45 pm

I’ll applaud Wanderer, and Firecracker for their lofty achievement, and for ignoring the “siren call” for a house.
Wanting to monetize their fame via a blog of their own, as well as their other pursuits they have detailed there along with their nest egg of $1MM should allow them to do pretty much whatever. NOT a bad future for one’s early 30’s. Never fear, times also change through life.

Anyone who reads 3 days of Mr. Turner’s blog writings will see his acerbic humor, a bit of irony, and most of all his wonderful writing style. Maybe he isn’t Samuel L. Clemens, or Ernest Hemingway, but the guy writes an entertaining & humorous blog!

His financial wit is accurate as well. The CBC writer, Dim Wit, or whoever improperly framed Mr. T’s comments in the article. Too bad.

Old advice: whatever you read in a newspaper is probably half right, whatever you read on-line is always suspect.

….and that’s the way it is…

#81 BOOM! on 08.18.16 at 9:46 pm

Portfolio continues to eek out those gains…
what can I say?

#82 Freedom First on 08.18.16 at 9:50 pm

#76 Go to AA Smoking Man

I am fan # 33 of the Smoking Man. Maybe even an imaginary friend.

#76, keep coming here and you will become a fan too. Trust me.

#77 Smoking Man

Let rabid dogs sleep. Perfection!

#83 Aggregator on 08.18.16 at 9:51 pm

CMHC just sold $5.25 billion of Canada Mortgage Bonds with ultra narrow spreads (14 bips) over Canada benchmark bonds. And just like that $5.25 billion worth of mortgages goes into the hands of global investors, making room for banks and lenders to dish out even more mortgages.

When you borrow money to buy or refinance a home, you agree to use your home as security.

This market isn't going down with spreads like that. Sorry. Banks are just re-gauging their balance sheets. They'll be back soon.

#84 No Mercy on 08.18.16 at 9:51 pm

So you come out of University as an Engineer.

Save 20K at the start and move to 50K later on.

8 years later you are +500K.

They did this x2.

Big deal.

Add a few kids and the equation changes.
Add an accident and the equation changes.
Travel too much and the equation changes.

You need $3M to somewhat retire as a single person. x2 you need $4M.

I had a few years off in my 30’s. It was required.

I also employed 70 people in my late 20 to mid 30’s. I brought much more to Canada then penny saving with a cushy jobs.

So 2 kids equating to 500 saving x2, I don’t see the big deal. What I see kids behaving stupidly and bragging about what exactly?

500k each. OK. Good job. You are doing very good.

But bragging about it is nauseating.

#85 Smoking Man on 08.18.16 at 9:54 pm

#76 Go to AA Smoking Man on 08.18.16 at 9:34 pm

Your never going to stop are you… Tell you what I’m doing right now. Trying figure this 3000 dollar telescope I bought the other day for my newly renovated Maskoka cottage…

The booze makes reading the instructions difficult..

But I’ll tell you. When you have made so many all in bets cause you have a Gambling addiction. The bets go south.

Knowing if you upload you lose….time to make a choice.

Booze gets you through those tight spots.

I don’t expect a person like you to understand. You probably think you’re going to live for ever..

A candel that shines twice as bright as a longevity bugger looking for the 100 year certificate from the queen.

Live fast dye young.. In the end when both me and you are rotting flesh underground.

Each of us will not remeber this post..

It’s for historians to figure us out….

#86 Karma on 08.18.16 at 9:57 pm

#23 WallOfWorry on 08.18.16 at 7:10 pm
“#9….”You thought things are bad now:
http://www.cbc.ca/news/politics/canada-china-visa-offices-foreign-workers-1.3714991”

I fail to see how this is bad. In fact, it is necessary. If you look at the demographics of our workforce we need to attract immigration to drive future growth that will sustain the social programs that most Canadians cherish. What is the concern?”

Perhaps we need extra future employees (students). But China’s in a bigger demographic nightmare than us. So they need to keep their people there. I don’t see the incentive for China to want this.

#87 The Wet Coast on 08.18.16 at 9:58 pm

25 years ago my marriage ended and I was evicted from my home. I had twin girls that I had to support. I was sleeping in a flea bag rental on a inflatible mattress. I started slowly saving just a little month after month. I learned how to invest and while not as Garth would like I got better at it. So here I am 25 years later. I can live anywhere I want and buy most anything I want. But I am happy with a 10 year old Toyota. Wealth
Is about disipline and self denial. Simple as that.

#88 Metaxa on 08.18.16 at 10:03 pm

@ #72 WWI

I can Google fine thank you very much.

Your point?

#89 Chaddywack on 08.18.16 at 10:06 pm

Doesn’t surprise me about the CBC.

Unless you show unrelenting deference for our “Dear Leader” Trudeau you will be crapped on by the pinkos who work there. Grosses me out thinking how much of my tax dollars go to that propaganda machine.

#90 common sense on 08.18.16 at 10:06 pm

I love Lee Adler:

“Stocks have risen 54% although Industrial production has barely changed since 2007. Therein lies the power and uselessness of central bank policy. It works for speculators and not for the economy. A case can be made by discouraging savings, QE and ZIRP actually retard economic growth.”

Well said.

Industrial production is less consequential than employed consumers in an economy 70% based on spending. The comment us not well stated. — Garth

#91 Jr on 08.18.16 at 10:14 pm

#76 Go to AA Smoking Man on 08.18.16 at 9:34 pm
An alcoholic with no friends, what a surprise. Best thing is to come onto the internet and talk with all your imaginary friends. Stop being such a pussy and get some help.

Forgive this lunatic fool great Smoking Man… he knows not what he does. He doesn’t understand your greater purpose. Looking forward to the second chapter of the book of smoking man.

#92 European on 08.18.16 at 10:15 pm

#84 No Mercy

Its a business decision. They obviously know the limit of investing in a diversified portfolio and they are hungry for more. They took a risk, and why not. I don’t think its bragging. But what I think it does, is it discredits their message a little because why would they advertise if they are happy or satisfied with their financial situation. How can you be with 1M? You can’t now a days.

And like you said 500k x2 is very much doable if financial security is your priority. No big deal, really. Many of us have done it. Some discipline, and a bit of luck with the specific partner (even if they don’t match your 500k). Again, its obviously a business decision not bragging.

#93 kids on 08.18.16 at 10:15 pm

Neither Garth nor these millennials know how much kids cost! And not just the financial costs… but opportunity costs.

#94 Doug t on 08.18.16 at 10:16 pm

#33

Nope no wall just a change in the way government deals with issues – I didn’t say I had a problem with immigration – I have a problem with easy lazy thinking by politicians

#95 Smoking Man on 08.18.16 at 10:17 pm

This is amazing.

I can see the craters on the moon.. Bit out of focus not sure if it’s me or working the telescope properly.

Got crazy diamonds on the ear buds. Maskitos getting stond with every bight. How the hell are they going to make it home… They won’t see the spiders Web.

There you go lefties… Another worthy cause for Soros lot.

Save the drunken Miskito society…….

#96 Jessica on 08.18.16 at 10:18 pm

Their website is so great for people just starting out on the investment path because it explains in basic lay language. I understand this blog a lot better now after reading theirs. I was saddened for Canadians when I saw the 2nd CBC story. Because those kids as everyone calls them are doing a great service educating would-be investors who don’t where to start but don’t want to ask their bank. It would be a shame for them to get discouraged now. Thanks for your blog, too. Those who really want to learn will. Others will keep their heads in the sand.

#97 Jr on 08.18.16 at 10:20 pm

Looking forward to hearing from the prophet of profits. Will he educate us with a parable of the great witch of dc? Or will he inspire us with a tale of the Trump justice maker?

#98 Metaxa on 08.18.16 at 10:21 pm

When I would buy a new restaurant I’d gather the staff and give them a state of the union address.

One of the things I’d tell them was that although they may not agree with everything or everybody going forward, I expected them to bring me solutions, not problems.

Be a contributor, not a bitch and moan type in other words.
Be the change you want to see.

Reading posts 1-90 tonight makes me remember that…some of you need to channel the hate into something constructive.

#99 stage1dave on 08.18.16 at 10:24 pm

Not often I think about John D., but I do remember two of his unspoken rules from…unhh, well, somewhere…

1) Say nothing!
2) Hide the profits

Sage advice, but you have to swim amongst the Canadian lobsters for a while to appreciate it. Couple other things I’ve noticed as well; it’s a big ocean and most of the lobsters are usually at the bottom.

(btw, this post in no way is to be construed as hate speech against lobsters)

#100 Smoking Man on 08.18.16 at 10:26 pm

#82 Freedom First on 08.18.16 at 9:50 pm
#76 Go to AA Smoking Man

I am fan # 33 of the Smoking Man. Maybe even an imaginary friend.

#76, keep coming here and you will become a fan too. Trust me.

#77 Smoking Man

Let rabid dogs sleep. Perfection!
….

Fellow ordained dude… I never got a book review regarding chapter 1 on my blog….

Click my name up top for it.. …..

I need to know what #33 thinks…..

#101 Kamilapea on 08.18.16 at 10:30 pm

“We hate it when our friends become successful.”

#102 Brazil ex-pat on 08.18.16 at 10:33 pm

Sales are plummeting in Metro Moldcouver. But this has nothing to do with the 15% foreigners tax of course.

http://globalnews.ca/news/2887766/data-is-the-metro-vancouver-real-estate-market-in-free-fall/

#103 WUL on 08.18.16 at 10:41 pm

Sorry, hit Submit button too soon. I meant to return to topic. The multi-millionaires in my neighbourhood do not go to the CBC outlet on Memorial Drive in Calgary to brag about their wealth.

Declasse. (Dunno how to put accent marks here).

#104 Miss Liz on 08.18.16 at 10:42 pm

I’ve been rolling my eyes for the past two days. Love K & B, their story and they’re blog. The literal take on Garth’s endearing jabs are hilarious. I thought Canadians were supposed to have a sense of humor…

#105 IHCTD9 on 08.18.16 at 10:42 pm

CBC is unreadable drivel these days. I say fold the whole dump and let T2 fight Climate change in Africa with the money saved. I’m finding the Star to be a great read in comparison – and that’s saying a lot coming from a knuckle dragging neandercon to whom you will never tell much – like myself.

A ramshackle collection of leftwingnut looney Trudeau fanboi apologists gorging at the public trough posing as professional journalists. Endless Trudeau leg-humping, selfie posts and shirtless spy photos. Ass grabbing centrefolds, hottest PM competitions, and a 24/7 T2 Jackboot licking frenzy that never seems to end.

I’ve seen dead Carp stuffed to near explosion with maggots that had more appeal than your typical CBC article.

Oh, and Herb: 941 million in 9 years – don’t forget buddy!

#106 Interstellar star stuff on 08.18.16 at 10:46 pm

#95 Smoking Man on 08.18.16 at 10:17 pm
This is amazing.

I can see the craters on the moon.. Bit out of focus not sure if it’s me or working the telescope properly.

Got crazy diamonds on the ear buds. Maskitos getting stond with every bight. How the hell are they going to make it home… They won’t see the spiders Web.

There you go lefties… Another worthy cause for Soros lot.

Save the drunken Miskito society…….


But can you see the alien base that’s on the dark side?

#107 Jr on 08.18.16 at 10:47 pm

#76

Go away lefty. You are not worthy enough to even breath the second hand smoke of the great historian known as the smoking man!

#108 Smoking Man on 08.18.16 at 10:49 pm

Jesus Christ I just spotted a naked Jamaican Man on the moon..

Wow.. Myth busters got to do an episode on this phenomenon.

Impressive is all I’m saying…

Talk about luck….. Yet the second he thinks he’s a victim is the day you lose the entrepreneur spirt and the day you settle for less.

Difference between a man who had it all. And a man who through it away…

The mirror. What you see in it.

Dr Smoking Man
PhD in weird thoughts…

#109 april on 08.18.16 at 10:50 pm

Vancouver panic selling in August/Sept according to a Van realty consultant with an impeccable track record.

#110 Paul Heyes on 08.18.16 at 10:52 pm

Garth, I rarely post but every now and again you need to be told that you are a legend. Keep her lit big man.

#111 Aggregator on 08.18.16 at 10:55 pm

Equifax Canada Reports: Delinquency Rate Up for Millennials, Seniors Adding More Debt

The delinquency rate among young millennials (18-25 years) hit 1.8 per cent in the second quarter of this year, an increase of 11.7 per cent from their 1.6 per cent rate in the second quarter of 2015. However young adults didn't add much debt over the past year with the average change at $167, while the debt obligations of seniors (65+ years) increased by $1,134 (8.2 per cent) to $15,001 according to Equifax Canada's Q2 2016 National Consumer Credit Trends Report.

Total consumer total debt (excluding mortgages) also remains on the rise. As of Q2 2016, Canadian consumers owe $1.666 Trillion, compared to $1.618 Trillion in Q1 2016 and $1.568 Trillion a year earlier, an increase of 3 per cent and 6.3 per cent, respectively.

"While debt among seniors has increased, they are also the only age group that saw its delinquency rate decrease over the past 12 months. They currently share the lowest delinquency rate, 0.9 per cent, with the 55-64 age group," said Regina Malina, Senior Director of Decision Insights at Equifax Canada. "For the most part, older Canadians have always demonstrated an ability to handle their spending and what they owe. Young people, and really everyone, should be reminded to practice good budget and money management habits.

Millennials are defaulting in greater numbers whie seniors are tapping equity in their home to survive; non-mortgage debt is growing at 6.3% while GDP is below 1%. Looks totally sustainble.

#112 not 1st on 08.18.16 at 10:55 pm

#41 Metaxa on 08.18.16 at 7:58 pm

Dividend stocks are not growth stocks. Capital appreciation is traded for regular cash flow. Their nest egg will be exactly the same in 30 yrs. Look at the dividend stocks on the TSX, XDV for example – right where they were 10 yrs ago.

#113 Smoking Man on 08.18.16 at 11:02 pm

Regarding the pic up top….

No lives matter.. The most safe think you can say in today’s mind fkd world.

#114 joblo on 08.18.16 at 11:04 pm

Let’s get back to the almighty Central Banks….. who continue to punish savers and pensioners keeping interest rates at 5,000 year lows. Forcing these folks to seek yield in a dangerous asset bubble. Does it makes sense that you buy bonds for capital appreciation and stocks for income? Since when, since 2008?

What about bankrupt Governments passing the HUGE debts to future generations (they are so screwed) while the insolvent BIG banks can keep making money and bonuses?

Is a 0.25% increase in interest rates really going to derail the stock markets. Really?

Anyone?

#115 steerage steward on 08.18.16 at 11:08 pm

A lot of people have said to me quietly that they hope there is a substantial housing crash.

http://www.zerohedge.com/news/2016-08-18/vancouver-housing-market-implodes-average-home-price-plunges-20-1-month-market-devas

#116 Gordon Bates on 08.18.16 at 11:30 pm

Rights, envy is pandemic among Canadians . People hate if you’re more talented and skilled than they are, any bright office worker can tell you stories of how co workers steal work and in many cases bosses will steal you work and credit it to a favorite without credit to the creator , just to even things up so the others don’t feel too bad . Canada is very sick in this regard. They steal potted plants and yard decorations , even Christmas lights and kids shoes off the front porch. This desperate envy is everywhere and often folks will beggar tha elves to ‘keep up with the jones’. I think it stems from the basic inequalities setting people against one another as civic servant lobbies have suppressed private enterprise and liberal lobbies pit one group against another by greasing the fat civic service and it always seems like they can afford ore while average folks are taxed to death and are burdened with saving for retirement while the civil servants get free ride.

#117 one hell of a return on 08.18.16 at 11:38 pm

… and I’m not kidding.

#118 Cheaters Prosper on 08.18.16 at 11:39 pm

http://www.scmp.com/news/world/united-states-canada/article/2005794/canada-tax-chiefs-knew-foreign-moneys-big-role?utm_source=&utm_medium=&utm_campaign=SCMPSocialNewsfeed

Gee, seems the average citizen on the ground knew what was happening for decades but was rebuffed by political correctness. The role of foreign capital has had a destructive role on the average Canadian taxpayer for decades both in increased house prices and higher taxes to cover the tax cheats.

As has been pointed out many times, prices in Vancouver moved away from the 3x income model in 1986 following Expo and they paid a hefty premium since the 1990s. Hmmm – I wonder why?

Now you know why people say the city is a write-off. The horse has left the gate and some toothless measures like a foreign buyers tax will do absolutely nothing.

The CRA would prefer to chase the honest Canadians for a few hundred bucks for moving or transit expenses than chase the big foreign capital fish. Pathetic.

But lets keep going with the meme of 5% foreign buyers having ‘no impact’ which has morphed to the ‘new realization’ that they have an impact, but still a small one.

Oh, and of course locals are gorging on debt and magnifying the problem – they see that their leaders have sold them out and are trying to compete with their only means they have – debt.

#119 BillyBob on 08.18.16 at 11:48 pm

Hmmm…MOST people realize that being a glib smartass has consequences, somewhere around age 12….;-)

As far as Leung and Shen, I had a read through a good sampling of the comments at CBC on the article, and most of the “hating” seems to be pretty reasonable calling out of the fact that the money was largely made through saving…not investing. Even Mr. Turner doesn’t try very hard to correct the implication that half a mil was “doubled” solely by investment wizardry.

My own story parallels theirs in several general ways, although I have ten years on them. Unlike them, I love my job, however in the beginning stages in Canada it made for an extremely poor living. Eventually I was able to parlay it into overseas highly-paid tax-free employment, and the frugal, saving habits I had developed out of necessity paid off in spades. Was able to save over a million (CAD equivalent) and invested it. My money is in a balanced, diversified portfolio managed by the German version of Garth, based in Singapore, with the money held elsewhere, because I tired of paying taxes to support the loser lobsters in Canada that are mentioned. For the record I do agree with many of the principles they espouse: earning, saving, investing, only owning property if it makes financial sense.

Also like these two, I worked hard and saved most of what I earned. If there is anything at all to be learned from them THAT is probably it. But I have no wish to emulate them in retiring and traveling the world because a) I enjoy what I do and b) my job IS traveling.

I mention this solely to explain why I have no motivation for jealousy based on their monetary achievements, I’m quite content with my own. The real reason there is so much vitriol towards them has more to do with the fact that they come across as smug, self-aggrandizing braggarts. They’re simply not likeable or sympathetic, and now trying to “monetize” their accomplishment only makes them appear as opportunistic a-holes. Which may be the case, or simply a cultivated image, who knows. But their “message” would probably be more effective if people didn’t find them “obnoxious and nauseating”. Which is a shame, because Canadians really do need to wake up about the cult of real estate.

What I DO know is that if you have to constantly boast about things like how “deliriously happy” you are, it’s usually an indication that you probably aren’t so much. Happy/rich/well endowed people don’t have to brag about it. (Good reference to “The Millionaire Next Door” earlier.)

#120 IHCTD9 on 08.18.16 at 11:54 pm

#87 The Wet Coast on 08.18.16 at 9:58 pm
… But I am happy with a 10 year old Toyota. Wealth
Is about disipline and self denial. Simple as that

——————

Very good, my wife calls it “delayed gratification”, sometimes it’s sweeter when you wait, other times you lose the desire while waiting. You become more wealthy either way it goes.

My daily driver just turned 17 years old.

#121 El presidente trump on 08.19.16 at 12:45 am

I already have my own statues…. A tribute to me… a winner. The people love me. Smoking man loves to be naked too. Together we will make America naked again.

https://dudo6el28sqqp.cloudfront.net/gothamistgallery/2016/8/18/2bbbccbc4081816trumpstatueusq-11-jpg-mobile.jpeg

#122 Wow abe on 08.19.16 at 1:12 am

K & B live off $30-40k per year from their investments? That’s poverty IMO. No thanks.

#123 Rexx Rock on 08.19.16 at 1:18 am

Make money from Canada and live in a cheap country like Mexico or Columbia.Canada is one big racket.Travel the world and see whats out there.At least living in another country you pay less taxes going to war and welfare.

#124 Robert on 08.19.16 at 1:18 am

Not sure why so many have their knickers in a twist over this yarn. Aren’t they just millennial members of the DINK club which has been around at least since the 70’s. (Double Income No Kids). Back then, they stood out by having money to burn and time to play while the rest of us got about building families. Have to admit many of us were jealous of the freedom and material success at a time when we struggled through the recession of the 80s and double digit interest rates. A million today buys you a modest YVR bung. Big deal.

#125 SWL on 08.19.16 at 1:22 am

@TurnerNation

Ouch on CXW – Corrections Corp of America. I never did have the heart to invest, although I also thought it would be a sure bet

Garth’s right on individual stocks. Buyer beware

I still enjoy your tips

#126 Wishful thinking and Radio Moscow... on 08.19.16 at 1:34 am

#55 Nero agree and no one will invest (i.e., McCallum’s new immigrants which in theory have money) in a RE market that does this in just 4 days (Zolo/Vancouver):

Aug. 15: Avg. Price = 1.2 MM (Qtrly Change = -19.8%, Yrly Change = +3.6%)
Aug. 19: Avg. Price = 1.1 MM (Qtrly Change = -25.3%, Yrly Change = -7.6%)

Yup, an 8.3% price drop and yearly gains wiped out in 4 days…free fall may well end up being an understatement.
______________________________________

Garth, who cares about Radio Moscow…from the posts today, no one. You should not either, but still, good on you that you set the record straight about the 2 Millennials.

Nice to see young people succeed…of course, with a “little help” from that dog loving Boomer dude with a beard.

Lobster moral…too funny (add wit to the above accolade).

#127 Random snowboarder on 08.19.16 at 1:50 am

#101
https://m.youtube.com/watch?v=1nRRu9WAA-k

#128 BS on 08.19.16 at 1:55 am

#44 YVRpeasant on 08.18.16 at 8:00 pm
I think what people forget about the Millennial Revolution message was the first part that said, GET A WELL PAYING EDUCATION/JOB.

People say “well their situation isn’t typical because they have high salaries.” which is true, but that’s part of the message. It’s just too late for the majority of people in their late 20s and 30s who’ve already chosen their careers.

“Too late” for people in their late 20s and 30s to make a career change? Clearly you are very young and naive. It is never too late to make a career change. Even in your 50s or 60s. The key is to not tie yourself up with debt and anchor yourself to a house so you can’t make a career change because the next payment is due and you have no mobility.

In fact the Firecracker couple have just made a career change at 30 and it is a perfect example of how to do it. They worked their butts off in careers they hated and saved (most Millennials just quit the job they hate and/or go into debt after the first pay cheque so they can’t ever save or quit).

Now these two are in a position to do what they want with enough income from investments to survive without working for someone else. The couple are calling it retirement but clearly that is not their goal. Although they have not monetized it yet it seems they are doing this self promotion thing for a reason. I suspect they will end up with some type of business soon and do very well. Traveling the world just adds to the story. Plus I am sure they are enjoying it more than the 9 to 5 grind. The free press will help them. They are almost assured another article or two in the future. Very smart.

Then people will say ‘ya but’ you had a million to get started and all that free press. Nobody gave them either. They earned both. Lets see how they do. My prediction is they do well.

#129 Jim on 08.19.16 at 2:00 am

Garth, sounds like CBC tried to Trump you!

But dont worry, %95 of what the CBC says is absolutely true, they only lie when its important.

#130 BS on 08.19.16 at 2:05 am

#93 kids on 08.18.16 at 10:15 pm

Neither Garth nor these millennials know how much kids cost! And not just the financial costs… but opportunity costs.

So people who have kids cannot be successful? There are pros and cons to every situation. Kids provide tons of opportunities through networks and connections you would never have otherwise. I know many people that have started businesses solely based on relationships their kids brought. You just need to figure out how to monetize them. Many others have. Quit making excuses and the success will come easier.

#131 BS on 08.19.16 at 2:14 am

#84 No Mercy on 08.18.16 at 9:51 pm
So you come out of University as an Engineer.

Save 20K at the start and move to 50K later on.

8 years later you are +500K.

They did this x2.

Big deal.

If it is no big deal then why do 99.9% never achieve it at that age? Oh ya your list of excuses was to follow.

#132 siddelly on 08.19.16 at 2:22 am

Another CBC breaking story on Vancouver’s Real Estate Corruption via Gloria Macarenko from On The Coast:

http://www.scmp.com/news/world/united-states-canada/article/2005794/canada-tax-chiefs-knew-foreign-moneys-big-role

It seams that CRA was warned that money laundering or something like it was being perpetrated as far back as 1996 and had no interest in looking into it. This was just prior to the hand over to China of Hong Kong and dirty money was looking to leave pretty quickly at the time.

Just the locals, right? I don’t think so.

#133 millenial1982 on 08.19.16 at 2:40 am

#95 Smoking Man on 08.18.16 at 10:17 pm
This is amazing.

I can see the craters on the moon.. Bit out of focus not sure if it’s me or working the telescope properly.

Got crazy diamonds on the ear buds. Maskitos getting stond with every bight. How the hell are they going to make it home… They won’t see the spiders Web.

There you go lefties… Another worthy cause for Soros lot.

Save the drunken Miskito society…….
————————————————————————————
Those craters are just your wrinkles you’re looking in the mirror not through your telescope. You prick I owe you that one for last week calling me a mind [email protected] student and suck up or something like that. Renovations to a cottage? Unless you mean adding a smoking screen room or leveling it sounds like you’re just part of the herd to me…

#134 Freedom First on 08.19.16 at 2:45 am

#100 Smoking Man

Your book will be made into a movie and win an Oscar.

007
Freedom First
PHD of Freedomonics

#135 hh on 08.19.16 at 2:47 am

#62 Context on 08.18.16 at 8:53 pm
“Bayview Village :- Is there any negatives in the area?”

Overall it’s a good area. Good shops, restaurants, the Y, and the Don Valley walking/cycling trail close by.

Major negative is the weekday traffic. Bayview / Sheppard is a choke point for commuters. The noise and pollution would be a problem for me, maybe you not so much..

#136 Freedom First on 08.19.16 at 2:51 am

#101 Kamilapea

Yes. And you probably helped them a great deal. I know I learn something from everyone.

Of course, to be polite, I don’t tell 99% of people what I learned from them.

#137 maxx on 08.19.16 at 6:50 am

The difference between Canadians and Americans?

Americans love success. You can feel the attitudinal change the second you cross the border.

Canadians have some great cultural traits. They also have a truly nasty one – the green-eyed monster – especially when it comes to self-made millionaires.

A favourite line, delivered by character Elaine Benes in Seinfeld:
“Here’s to those that wish us well, and all the rest can go to he!!”

Kristy and Bryce, you did it! Keep it up.

Oh, and I’d love to get a demographic profile of the bulk of this vitriol….I’d wager it’s the same one that seethes with hatred at Boomers.

#138 yvr2zrh on 08.19.16 at 6:56 am

What I don’t understand exactly is how people believe that with $1 million you can stop working and do what they are doing – without ever looking back – or forward.

I’m well past the million mark, basically the same age as them, and could not fathom stopping the savings as I currently do not have enough to stop working. They will get their fame, they will run out of money (if they don’t work again). However – I can’t believe people are flaming them for dissing the house ownership. People are so delusional.

#139 maxx on 08.19.16 at 7:03 am

It would appear that the young aren’t the only cohort eschewing re:
Spoke to a realtor yesterday who was not having a great day. Told me that he had boomer clients who had been working with him for a while, searching for a waterfront home as soon as they sold their current home in a great neighbourhood.

They finally sold. But guess what? Once they had all of that yummy cash in their hot little mitts, they decided to……..rent!

Smart. Those very fortunate souls who manage to sell ought to take a page from this book, as most properties ex TO and YVR are just festering.

Cash opens up so many doors………..

#140 Ace Goodheart on 08.19.16 at 7:09 am

Your millennial prodigies have been accepted into the stardom class.

They will now become idols.

People will comment on their looks.

Everything they say and do will be evaluated and taken apart bit by bit.

They will need to hire image consultants.

They will need to get used to speaking from scripts.

They will need a speech writer.

My advise to them would be go travelling again. Stay away from social media, newspapers, any form of media, for at least a year. Forget this ever happened, and go live their lives.

Otherwise, this is not going to end well. Fame is not something anyone wants. Fortune, yes we all want that. Fame is deadly and to be avoided at all costs.

#141 pBrasseur on 08.19.16 at 7:33 am

I don’t know which is worse, bad journalism or the absence of a sense of humor?

Either way it sucks that we have to pay for it…

#142 CJBob on 08.19.16 at 7:40 am

#19 Victoria Real Estate Update on 08.18.16 at 7:05 pm
_________________
Thanks for the analysis, we’ll continue to give your work the consideration it deserves.

#143 maxx on 08.19.16 at 7:48 am

#39 Cory on 08.18.16 at 7:56 pm

“……we are also excellent money managers and run our household as a business with a rock solid balance sheet……”

My heroes. Wise to boot, however, observe the attitude of big corps and business generally when you attempt to keep costs down.
Recently had a “chat” with a multinational that promised a price reduction and then reneged on it the following month. We called them on it, they wouldn’t budge…”business decision” and all that crap. So we cancelled the service. A 35-year relationship with a perfect payment profile, down the toilet. A few hours later, they called and tried to renegotiate a price somewhere in the middle.
Nope. They ARE replaceable.
Self-indulgent, crap-attitudes that are found in Canadian companies are rare in the US.

#144 crowdedelevatorfartz on 08.19.16 at 8:08 am

@#134 Freedom First
“Your book will be made into a movie and win an Oscar.”
*******************************************

You mean like THIS Oscar “contender” starring Sean Connery in the lead?

https://www.google.ca/url?url=https://www.youtube.com/watch%3Fv%3D9RgHr7AdrfA&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwjAs8LGuM3OAhUFymMKHcz5DOMQtwIIHTAB&usg=AFQjCNEk4908tpTjek7m7esFj0FtjmdJhA

God help us all.

#145 MF on 08.19.16 at 8:21 am

Lots of negativity here.

First off I do not believe there is a crab mentality among Canadians. F and W were criticized because of the fact they didn’t buy any real estate and still made it. Vast majority of morons are leveraged like crazy and depend on this to continue to not be wiped out. If F and W come on the CBC and advise against buying real estate of course they are going to be ridiculed.

We ARE proud of Canadian businesses that succeed and Canadians who are successful (just not Justin Bieber. Can’t stand that guy.)

MF

#146 Ferrari on 08.19.16 at 8:22 am

Everyone “who” comes here? …

#147 Aggregator on 08.19.16 at 8:33 am

Canada Retail Sales -0.1%, exp. 0.5%
Canada Retail Sales ex Autos -0.8%, exp. 0.3%

#148 MF on 08.19.16 at 8:47 am

#47 WallOfWorry on 08.18.16 at 8:15 pm
#33 Doug t on 08.18.16 at 7:38 pm

I grew up and live in the GTA and I was born here. All the immigrants I grew up with have grown into good hard working Canadians. My girl friend and all her friends are very recent immigrants from the Philippines and they all work like crazy and buy tons of junk (lol). With regards to the Government’s new idea to bring in more Chinese, what’s the problem? They are peaceful and hard working. Yes real estate will go up in some areas but it will be temporary and the crash will come regardless IMO.

Immigration is a huge positive if done correctly and I think Canada has done a decent job of picking the best and assimilating them so far. That being said, there is a precedent being set in Europe right now showing what happens if you try to fix the economic problems with immigration too hastily, and without thinking or vetting properly. There is lots of social tension and resentment there and the terror threat is now permanently elevated. Europe should be a lesson on what not to do with regards to this issue.

MF

#149 MF on 08.19.16 at 8:50 am

BOOM!,

Thank you for that response a few days ago. What you described is the Obama recovery in a nutshell.

-Lots of plentiful but crap jobs that no one wants
-Share buy backs like crazy
-Government manipulation of statistics and markets.

Will be interesting to see what happens if Trump is elected, and we no longer get false Obama statistics. Rates may rise yet.

MF

#150 robert james on 08.19.16 at 8:52 am

More from Vancouver,, maybe it should titled “The Wealthy Homeowners that thought they were Wealthy “…. http://www.digitaljournal.com/pr/3044499

#151 WalMark of Sadkatoon on 08.19.16 at 9:04 am

Posters who say $1m not a ‘big deal’ yet don’t have $1m

Hmmm

#152 james on 08.19.16 at 9:06 am

#77 Smoking Man on 08.18.16 at 9:40 pm

#58 cbc crap on 08.18.16 at 8:48 pm
#31 AB Boxster on 08.18.16 at 7:36 pm

The CBC has unfortunately degenerated into an ultra liberal, left wing , T2 pandering, conservative idea hating, hive of social justice engineering opinion forming drones, whose politically correct groupthink is served up to Canadians and called news.

— 00 — 00

I completely agree. I have stopped going to the website because of how distorted the propaganda machine is over there.
.

If I didn’t drink so much. Developed a work ethic. I unleash Smoking Man on the CBC comments section.

They would shut it down. I would trigger so many mind fkd teachers pets that mass suicide would entail.

And the left keeps encouraging me to quit drinking…
There would be consequences.
Further confirmation that they are truly insane..

Let rabid dogs sleep.
………………………………………………………………..
You do know that in unvaccinated humans, rabies is almost always fatal after neurological symptoms have developed. Oops sorry, your neurological symptoms have already manifested. Bye bye!

#153 NoName on 08.19.16 at 9:15 am

#131 BS on 08.19.16 at 2:14 am

If it is no big deal then why do 99.9% never achieve it at that age? Oh ya your list of excuses was to follow.

—–

99.9 “families/couples” in Toronto never achieve what FC and W did because their midian income is 3-3.5x smaller. it takes money to make/save money.
Toronto’s midian family income for 2012 before tax 71k, FC&W after tax income for 2012 168k. does that explains it for you?

would you like me to repeat this 3x times for you?

—–
data from, mill-rev website and census families include couple families, with or without children, and lone-parent families.
Source: Statistics Canada, CANSIM, table 111-0009.

and press PLAY to learn more.

#154 Braj on 08.19.16 at 9:37 am

#17 not 1st on 08.18.16 at 7:01 pm
No joke, I totally find them nauseating, and smug and clueless.

And Garth, this isnt about home ownership at all, its about diversification, sufficient income and a realization of what it truly costs to live in this country. $40k, thats kraft dinner territory.

And honestly, I though you would be more prudent in your advice to them and mention that living on $40k for 40yrs is going to be tough, maybe they should top it up a bit. You always say running out of money is the biggest concern. I guess they are going after a side income shucking products to other millennials after leveraging off your fame.

————————————————————————-

Who said they were going to retire forever? I would gladly take $40k/year and explore the world a bit, not only that but take the time to figure what’s worth putting effort into in this life. Also, in their type of work, part time is not uncommon either, nor remote work.

No one even said they were forced to live in Canada under those costs, the idea is freedom. They’d leverage off you if they could, I’m sure you’d do the same.

#155 KJ on 08.19.16 at 9:38 am

I saw that original unedited CBC story and shook my head. They’ve hired a bunch of people trained by the Buzzfeed listicle editors it seems with half their reporting.

#156 ww1 on 08.19.16 at 9:51 am

#88 Metaxa on 08.18.16 at 10:03 pm
@ #72 WWI
I can Google fine thank you very much.
Your point?

What you described is well known as the 4% rule in the retirement planning community. It says you can safely withdraw 4% of your capital every year (adjusting up each year for inflation) without much risk of running out of money.

It obviously all depends on investment results going forward and, unlike your proposed scenario, most times you will erode some (or even all) of your initial capital.

The google link points to sites that talk about the 4% rule. Note that most of the recent sites express concern that the 4% might be too aggressive given current yields.

If you want to play “what if” for safe retirement rates, here’s a link to a great site :

link > FIRECalc®: How long will your money last?

#157 Eks dee Sipal on 08.19.16 at 9:54 am

#75 Grooby… right on, dude. It’s easy to spot the greedy ones on this blog, they’re the ones who throw out the labels.

We just want a better world, they want the world to themselves. They are hypocritical, short-sighted, and just plain wrong. Most of them don’t value education. High-school dropouts making millions by buying low and selling high. And this somehow is celebrated as progressing our civilization how exactly? As I’ve proven here, Steve Jobs is simply an actor, who also played John Lennon, the real technology behind the company is military-borne.

Progress is made by eclectic genius supported by the collective State. Don’t point to the Soviet Union and tell me that was socialism; no, that was corruption. Like East Germany. And what about China? All your claims that socialism does not GDP make are totally worthless. They’re buying up the world, Africa, South America, also Canada, 80% of whose industries are owned by Chinese companies.

Right-wingers are simpleton dinosaurs, and they just don’t have any more answers for us. What worked before will not work forever. Right-wingers say they believe in democracy or a Platonic Republic or whatever, but when the votes show that their ideas are not working, they complain and throw out labels. Everyone else is stupid except you?

You think you have a leg to stand on in spewing your ideology because you sit on a pile of coin? Guess what: no, you don’t. Google ‘Big 3 BAILOUT’ and tell me what capitalism is, again?

#158 The American on 08.19.16 at 9:56 am

At #19: Victoria Real Estate Update, you said, “Sometimes it helps to lose the anger and bias and look at things objectively.”

So I propose you provide objective data with similar city comparisons. That’s all I’ve requested. You are one STUPID son of a bitch if you cannot understand that.

Look, the price of a NYC flat is much greater than one in Moose Jaw, Canuckistan (wherever the fuck that is). But that wouldn’t be a fair comparison to determine if pricing is overvalued. You shouldn’t be in statistics at all if you cannot grasp this concept.

#159 The American on 08.19.16 at 10:00 am

Victoria Real Estate Update, and if you feel I am so wrong, then why not use an apples-to-apples comparison? Wouldn’t you be curious to see how quickly the gap starts to close when you actually use similarly sized and desirable areas from one country to the other? Of course not, because you want the gap to be as large as possible. I’m not sure what your agenda is, other than to show Canadian real estate is overvalued. We all get it. We all know it. But really, it isn’t quite as overvalued as you portray it is, comparatively speaking.

#160 The Sexless Marriage on 08.19.16 at 10:02 am

DELETED

#161 cgc on 08.19.16 at 10:02 am

Hi Garth,

In your portfolio mix, you specify a percentage of government bonds. However, the bonds that I have seen pay less than inflation, and since their value is inversely proportional to interest rates, and since interest rates are at historic lows, would a bond bought now have no where to go but down in value?

Wouldn’t now be a terrible time to buy bonds since they are outpaced by inflation, and destined to go down in value?

This might be a silly rookie question, but I would appreciate your insight!

The government bond weighting is low – about 7% – and nobody buys them for yield. They are, instead, a cheap stabilizer for balanced portfolios, keeping volatility down and also mitigating equity losses during unexpected events like Brexit. Yes, rookies think the purpose of every asset class is to rise. — Garth

#162 mark on 08.19.16 at 10:04 am

It’s amazing how many people want to drop their daks and open their bowels on them instead of listening.

Garth works in financial advice so he knows how stupid people are and how hard it is to get the message through. Most of the people who’ve crapped on them are the ones who will spend their lives lurching from financial crisis to financial crisis before stumbling into a financial adviser’s office a few years from retirement and expecting a miracle to happen.

Ain’t gonna happen.

#163 Context on 08.19.16 at 10:05 am

#135 hh:- Thanks as the listing must be a mistake for the 2+1 2 bathrooms in this beautiful condo building selling for $245,000 as comparatives are all over $400,000.

#164 Context on 08.19.16 at 10:31 am

The real estate cartel are monitoring this blog as the same listing was just changed from $245,000 to $425,000 with the exact same pictures.

#165 AK on 08.19.16 at 10:34 am

Home ownership rate.

China: 90%
Russia: 83%
Brazil: 73%
Canada: 67%
Turkey: 67%
Australia: 67%
UK: 65%
US: 63.7%
Japan: 62%
Germany: 52.5%

Traditionally, the less developed a country, the higher the ownership rate. — Garth

#166 For those about to flop... on 08.19.16 at 10:51 am

4 Freedom First on 08.19.16 at 2:45 am
#100 Smoking Man

Your book will be made into a movie and win an Oscar.

007
Freedom First
PHD of Freedomonics

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

You mean like Oscar the grouch?

Doesn’t he live in a garbage can?…

M42BC

#167 Fred Sauvage on 08.19.16 at 10:59 am

DELETED

#168 Victor V on 08.19.16 at 11:01 am

Soaring food costs, lower gas prices push Canada’s inflation rate down as retail sales fall

http://business.financialpost.com/news/economy/canadian-inflation-rate-falls-unexpectedly-to-1-3-in-july-as-retail-sales-register-surprise-drop

#169 Victor V on 08.19.16 at 11:04 am

#163 Context

Also depends on proximity to the 401. Many condos in that area are a stone’s throw from the highway — significant pollution.

#170 The Wet Coast on 08.19.16 at 11:06 am

Immigration is great, even necessay. That said, do we really need “World Class Cities” with people stacked up like cord wood in concrete pidgeon holes?

#171 Smoking Man on 08.19.16 at 11:14 am

Wow! Vancouver Real Estate Market is Toast.
Down 20%

You See, the herd thought the market was driven by Asian Buyers.

Now that they believe no more Asian Buyers, everyone sits it out. There was never any significant Asian buyers, just the perception that there was.

Perception = Reality

Garth got that one right, grand slam if you ask me.

#172 Victor V on 08.19.16 at 11:17 am

Canada’s a real estate nation, just waiting for a crash

http://www.pressreader.com/canada/the-globe-and-mail-bc-edition/20160819/281792808436348

#173 TurnerNation on 08.19.16 at 11:21 am

Anyone know a good divorce lawyer? The Canadian way. Turn 50% into 80%.
Get it over with now you kids.

M40ON

#174 YVRpeasant on 08.19.16 at 11:22 am

#128 BS

““Too late” for people in their late 20s and 30s to make a career change? Clearly you are very young and naive. It is never too late to make a career change. Even in your 50s or 60s.”

No need to get insulting. My point is that if you want to be a millionaire by 30, you have to choose a high paying career right off the bat (which is part of Firecracker’s message, along with saving and investing)

Of course anyone can change their career at any time.

#175 Brazil ex-pat on 08.19.16 at 11:31 am

#125 SWL on 08.19.16 at 1:22 am
@TurnerNation

Ouch on CXW – Corrections Corp of America. I never did have the heart to invest, although I also thought it would be a sure bet

Garth’s right on individual stocks. Buyer beware

I still enjoy your tips
++++++++++++++++++++++++++++++++++++

This disgusting company should have been shut down years ago. With all the crooked cops and lawyers grabbing kids (under 25) and putting them in jail for 5 years for a joint they can make a kick back profit. Absolutely abhorrent. This is why we need people like Trump to make America great again. He would never let this happen.

#176 Context on 08.19.16 at 11:39 am

Its not fair as spent over an hour looking at the area and wanted to buy it at the old price for $245,000 as this was a good flip. The real estate cartel took my flip away and now they want $425,000 for the same condo unit. This is not a good way to do business by changing the listing price on me. The grocery store has a policy in place that if one finds the same item with two prices the customer pays the lower price. The grocery store has more goodwill than the real estate industry.

#177 Dups on 08.19.16 at 11:44 am

500k to 1M. Was the 1M before or after tax? Did they have a plan for retirement money aside? Medical, dental, bills etc. Two people living on 30 to 40k a year for both (15 to 20k) each. Seems like there is a lot of things they did not take into account, life is not cheap.

With this theory welfare receivers or people that make less than 15K/year should be very happy too?!

#178 Keith in Calgary on 08.19.16 at 11:55 am

“The CBC has unfortunately degenerated into an ultra liberal, left wing , T2 pandering, conservative idea hating, hive of social justice engineering opinion forming drones, whose politically correct group think is served up to Canadians and called news.”

Best desciption ever !!! Forgot to include “gold plated pensioned and unionized lazy ass employees” in that list.

#179 tkid on 08.19.16 at 12:06 pm

Making $40,000 in Cdn dividends is not equal to a $40,000 salary. You get a tax break on Cdn dividends (but if you can figure out how much of a break you’re a better person than I):
https://turbotax.intuit.ca/tax-resources/tax-investment/federal-dividend-tax-credit-in-canada.jsp

$40,000 in dividends is more like $50,000-$60,000 in a salary. Can anyone do the math on this one?

I’ve noticed there aren’t many cbc-ers coming onto these boards to shred, but I think they might be getting diverted by Smoking Man.

I’m going to start using this as my signature:
Save the drunken Miskito society…….

#180 salonist on 08.19.16 at 12:32 pm

5 minutes with my uncle

#181 Victor V on 08.19.16 at 12:42 pm

#179 tkid

In some cases, one can earn $50K in dividends and pay zero tax. Not something the average CBC snowflake would think possible.

http://www.theglobeandmail.com/globe-investor/investment-ideas/strategy-lab/dividend-investing/you-do-the-math-almost-50000-in-earned-dividends-0-in-tax/article4599950/

#182 Willdaman on 08.19.16 at 12:50 pm

The government bond weighting is low – about 7% – and nobody buys them for yield. They are, instead, a cheap stabilizer for balanced portfolios, keeping volatility down and also mitigating equity losses during unexpected events like Brexit. Yes, rookies think the purpose of every asset class is to rise. — Garth

————————-
In the current environment, if govt bonds are primarily for the purpose of reducing volatility and mitigating losses, would it not make sense to replace these with gics rather than buying govt bonds that are guaranteed to lose money once interest rates start their inevitable climb?

No. — Garth

#183 DisgustMadeMePost on 08.19.16 at 12:57 pm

My sister commented the other day that ‘young people today are media whores’.

Maybe in general people just are, given the opportunity.

Either way, the old saying still rings true:

Discretion is the better part of valor.

#184 IHCTD9 on 08.19.16 at 12:57 pm

#170 The Wet Coast on 08.19.16 at 11:06 am
Immigration is great, even necessay. That said, do we really need “World Class Cities” with people stacked up like cord wood in concrete pidgeon holes?
________________________________________

Immigration is not great, but it is necessary to keep the welfare state alive when the indigenous Canadians won’t reproduce.

The retiring Boomers need all these Chinese and Indian folks to come here, work, and pay taxes so that they will have their CPP, OAS, and Healthcare maintain solvency.

Unfortunately, it probably takes 10 South Asians to produce the same Government Revenue as 1 Western European. Many of these foreign folks in the GTA don’t spend like crazy – consumerism is just not part of their Culture at all.

I have many Indian business associates in the GTA. They pack 3 generations in one house, serve them all with 1 or 2 vehicles, don’t smoke, drink, shop, travel, buy toys, hell – they don’t even like to read a book! I gave one of them a 50.00 Timmies card because he would not use the typical LCBO (or even Chapters) gift cards I hand out. Took the guy an entire year to empty it out, would not eat donuts so it all went to coffee.

It’ll probably take a generation or two before Revenue catches up with population density as culture changes take place. In the meantime, the Government will have to borrow to support the infrastructure or it won’t get done. World Class cities need world class revenue, and that’s where areas like the GTA will come up short.

#185 n1tro on 08.19.16 at 1:01 pm

K&B needs to stop believing in their own hype. Kudos on living like poor people off $40K/year and taking free/paid advice from greaterfool.ca and then trying to monetize it in their own blog.

#186 rocklobstas on 08.19.16 at 1:01 pm

“They’re Canadian lobsters. When one reaches the top they all pull him back down.” Garth

Gartho…time for a bit of edjamacating my son…what you are referring to is the crab mentality….
https://en.wikipedia.org/wiki/Crab_mentality

nothing to do with lobsters!

#187 CJBob on 08.19.16 at 1:08 pm

#182 Willdaman on 08.19.16 at 12:50 pm
…if govt bonds are primarily for the purpose of reducing volatility and mitigating losses, would it not make sense to replace these with gics rather than buying govt bonds that are guaranteed to lose money once interest rates start their inevitable climb?

No. — Garth
__________________
I have this portion of my balanced portfolio in laddered 5 yr GIC’s so I always have access to 20% each year, averaging about 2.5% with zero risk which is better than gov’t bonds. Garth has at least been consistent is thinking this is a bad idea, although with gov’t bonds well below that rate right now I don’t see why.

#188 rocklobstas on 08.19.16 at 1:15 pm

I am pretty sure the dog on the right is not a purebred as it looks to skinny, although it is clearly younger….just sayin….

#189 NoName on 08.19.16 at 1:16 pm

#179 tkid on 08.19.16 at 12:06 pm

There is method to their madness.
(that is by the way compliment!)


“This happens since capital gains are taxed at only half the rate of earned income. Ditto for dividends, because by claiming the dividend tax credit rich people reduce their government bill by approximately 50%. Or sometimes, 100%. Somebody with a portfolio of $1.2 million in bank stock kicking out about $48,000 in annual dividends (an average of 4%) would end up paying zero tax. That’s right. Nothing. But if you earned $48,000 in Ontario working as the personal masseuse to a Re/Max broker, you’d pay just over $8,000 in tax.”

http://www.greaterfool.ca/2015/02/24/tax-this-2/

komunists your turn, now!

#190 NoName on 08.19.16 at 1:22 pm

#177 Dups on 08.19.16 at 11:44 am

working is expencive!
cost us 350 for gas, 200 for parking, 300 car insurance and 100ish for tims, a month (2 cars)

#191 ETFs on 08.19.16 at 1:34 pm

What do you guys think about this RBC balanced model ETF portolio? – Thanks!

Cash Equivalents – 3.0%
CMR 3% CAD iShares Premium Money Market

Fixed Income – 37.0%
VAB 4% CAD Vanguard Canadian Aggregate Bond Index
VSB 9% CAD Vanguard Canadian Short-Term Bond Index
XHB 4% CAD iShares DEX HYBrid Bond Index
RBO 12% CAD RBC 1-5 Year Laddered Corporate Bond
BSV 4% USD Vanguard Short-Term Bond
VCSH 4% USD Vanguard Short-Term Corporate Bond

Canadian Equities – 20.5%
XIC 5.5% CAD iShares S&P/TSX Capped Composite Index
ZLB 5.0% CAD BMO Low Volatility Canadian Equity
CDZ 10.0% CAD iShares S&P/TSX Canadian Dividend Aristocrats Index

U.S Equities – 21.5%
VUN 11.5% CAD Vanguard U.S. Total Market Index
IJH 3% USD iShares Core S&P Mid-Cap
VGG 7% CAD Vanguard U.S. Dividend Appreciation Index

International Equities – 18.0%
XEF 6.5% CAD iShares MSCI EAFE IMI Index
RID 7% CAD RBC Quant EAFE Dividend Leaders
XEC 4.5% CAD iShares MSCI Emerging Markets IMI Index

Not so hot. For example, way too much in bonds and emerging markets. — Garth

#192 M.Giardino on 08.19.16 at 1:38 pm

Mr. Turner

I wanted to tell you that I was completely disenchanted in the way certain members of our society have been behaving these past few years. The whole notion of blaming others when life goes awry due to greed and lack of empathy truly astounds me. I enjoy your blog, I enjoy your insight, and I enjoy how freely you give away such valuable knowledge to the masses. Your reasons for doing so are your own, but I finally felt it necessary to let you know how this singular reader of your blog feels. A few years ago you spoke to my wife and me about investments and the strategy involved. Rest assured, we took your advice (THANK YOU) and are well on our way to a more secure liquid state. I don’t know how you do it day in and day out; subject yourself to such asinine behavior from the blog-ites. I just wanted to let you know that you are making a difference in the lives of people are are the silent majority.

I look forward to speaking again with you in the near future.

Best Regards and please, keep up the good work.

#193 S.Bby on 08.19.16 at 1:47 pm

#112 not 1st
Dividend stocks are not growth stocks. Capital appreciation is traded for regular cash flow. Their nest egg will be exactly the same in 30 yrs. Look at the dividend stocks on the TSX, XDV for example – right where they were 10 yrs ago.

XDV is not a dividend growth stock, it is an ETF.
Telus for example is a dividend stock and look at where it’s gone over the last 10 years.

#194 Smoking Man is my Bitch on 08.19.16 at 2:05 pm

DELETED

#195 rosie on 08.19.16 at 2:13 pm

#175 Brazil ex pat

Not so fast Trumpkin. You Trumpkins are consistently touting the orange one, saying he’ll do this or he’ll do that. Nobody, including Heir Drumpf himself knows what he would do, given the chance. Many have tried to illicit an answer from him on many policy topics, but so far nothing, just a wall, which will leave you stuck in Brazil.

http://www.bloomberg.com/politics/trackers/2016-08-18/trump-likely-to-reverse-private-prison-policy-compass-point

#196 Aggregator on 08.19.16 at 2:34 pm

Updates to Terms Governing Government of Canada Securities Auctions

(PDF) Customers of government securities distributors are able to participate in Government of Canada securities auctions by bidding through government securities distributor(s).

Good news. Now hedge funds can bid direct on Canadian government bond auctions. This means more govt bonds will be in the hands of professional traders who have no interntion of holding bonds over the long term. Just trading them in the secondary market.

#197 axeman on 08.19.16 at 2:44 pm

#191 ETFs on 08.19.16 at 1:34 pm

Buy your own ETF’s in a self directed portfolio, you are paying a MER for a fund that is paying a MER on each one of these, and you have no control over the so called balance. Also yes, you dont’ want a lot in Bonds of any kind, they simply do no make any money. I am even thinking of going 70/30, with my 70 in Prefered shares of Dividend Paying Companies with consistent track records of resisting down turns… look at JNJ, Walmart, Mcdonalds etc…

#198 Context on 08.19.16 at 3:32 pm

The CBC fakes lots of stuff but they can’t fool me. I have caught them editing video tapes and changing the reality to make black look white. Look at all the interviews being staged using a green screen for example, and all of you are being had with technology.

#199 Bo.Diddly on 08.19.16 at 4:09 pm

The Tallest Poppy Syndrome is a real thing and woven deeply into the fabric of Canadian society. Australia is worse though.

#200 Context on 08.19.16 at 4:27 pm

There are some fans in this room who swoon over the writings of Hunter S. Thompson and his integrity. His wife Anita finally after decades came forward to return what he had stolen while in Idaho during 1964 as her husband was a thief. He went to Hemingway’s home and removed the trophy elk antlers from the front door and took them for himself. Now who is it in this room who holds up the writer Thompson higher than God?

#201 45north on 08.19.16 at 4:37 pm

Washed Up Lawyer: Declasse. (Dunno how to put accent marks here).

two ways:

html markup: déclassé

and native ascii characters

déclassé

problem with html markup the original text is pretty much unreadable

#202 Port of Van on 08.19.16 at 4:48 pm

Cargo is down 6% due to “lower Loonie”

“Cargo traffic at the Port of Vancouver fell 5.9 per cent in the first half of the year as a result of the weaker loonie, a tepid global economy and the shift of some cargo back to U.S. ports following a lengthy labour disruption last year.”

Canadians consuming less and the lower labor cost vs. a US port cannot make up for the loss of purchasing power in Canada.

Ports are a major part of Vancouver etc. economy.

#203 Freedom First on 08.19.16 at 4:55 pm

#166 For those about to flop…

Flop. What’s up? You’re better than that.

#204 45north on 08.19.16 at 5:06 pm

Brazil ex-pat: from your link: Is the Metro Vancouver real estate market in free fall?

the chart “Total number of homes sold” goes from 597 last year to 87 for the same period this year. This drop in sales is more severe than anything I read about in the US during its housing crash.

#205 PetroLogic on 08.19.16 at 5:12 pm

Mr. Firecracker is an unfortunate looking male.

I’ll stick to my mortgage, thank you very much.

#206 For those about to flop... on 08.19.16 at 6:54 pm

Boss ,I just put my comment on today’s post.
Scrap these two…

#207 Where's The Money Guido? on 08.19.16 at 8:34 pm

Re: #175 Brazil ex-pat on 08.19.16 at 11:31 am
#125 SWL on 08.19.16 at 1:22 am
@TurnerNation

Ouch on CXW – Corrections Corp of America. I never did have the heart to invest, although I also thought it would be a sure bet

Garth’s right on individual stocks. Buyer beware

I still enjoy your tips
++++++++++++++++++++++++++++++++++++

This disgusting company should have been shut down years ago. With all the crooked cops and lawyers grabbing kids (under 25) and putting them in jail for 5 years for a joint they can make a kick back profit. Absolutely abhorrent. This is why we need people like Trump to make America great again. He would never let this happen.

Just check out what this co. is all about: http://grassrootsleadership.org/cca-dirty-30

#208 Shinshin on 08.19.16 at 10:15 pm

This is rayciss against dark colored laboratory dogs!

#209 CJBob on 08.20.16 at 9:13 am

Those suggesting that the housing correction are definitely underway across the country reminds me of Leon Lett in the Superbowl. Don’t celebrate too early…

https://www.youtube.com/watch?v=NTeqQY_T2mE

I don’t have a horse in this race, let’s see how it plays out.

#210 Kootenai Ma on 08.21.16 at 3:57 am

Hi Kristy, Bryce and Garth,

Being a long time blog doggess, I guess, I totally realized from the reporter’s article and quotes there Had to be a Garth connection, AND that the reporter had no idea of Garth’s rollicking humour and reverse flattery :)))

At 54 and fledging kids, I am Nowhere near what you have accomplished here. You Rock, create a sweet life, be grateful for All, I wish you well !