GYOW

Days ago we sliced & diced the young musical Starbucks babe who decided to gamble it all on a condo in dubious Mission.

Is it cultural, tribal or just FOMO pressure that makes kids hot to get mortgaged? Do they believe it’s an easy path to getting money without working? Maybe an overpowering urge for stability and nesting? Or is it just social – succumbing to peer pressures – that would make a young person trade freedom, flexibility and infinite choices for condo fees, property tax and a mortgage payment?

Dunno. But if you could buy a home for two or three times your income, it might not matter. Today it can be ten or twelve (at least) times annual earnings. In Vancouver, says the National Bank, it now takes 29 years to save enough for a down payment – which is the definition of futility. So why do people keep trying? Why not just (a) move or (b) decide there are more productive things to do with your money, and your days?

An enduring tenet of this pathetic blog is this: the goal of life is not a house. Instead, it is the worthy spending of your time.

So here’s a counterpoint to the Mission-bound Ms. Sbux. Please welcome Scott…

“Just a short note to let you know I’m liking that blog.  I’ve been following your advice for years and your blog does a great job,” he says in the obligatory suck-up.

My own tale of woe.  I started out as an English major at UofT.  I wisely came to my senses, and moved to Manitoba where I switched majors, improved my employment prospects after graduation, and took full advantage of a relative lower cost of living, whilst enjoying the same standard I had in T.O.

My tale gets worse.  I actually graduated with 0 debt.  I’m one of those weirdos who held a job despite managing a full course load. I eventually found satisfactory employment completely unrelated to anything I studied in school.  I was lucky, because although we’re all in a profession where we’re pulling in a good wage, I was mentored by a few of the guys in money management.  They set the foundation.

So did I buy a house in cheap, cold Winnipeg?

No.  I rented.  For years.  My sad tale continues.  I bought groceries and made food like a normal person, I never did “Timmy’s runs” and don’t even think about talking to me about $tarbucks. I endured ridicule.  “How come you don’t buy a house?”  “Tim’s (coffee, what else) is like, the best ever.”  I was single then, performing shift work, so I needed a low-maintenance place to rest up and have little worries.  Toilet blows up?  Property Mgt deals with it.  I’ve paid for that in my rent.  I can make own coffee (still do) for pennies a cup.

I’ve heard it more times than I care to remember, “You’ll never get ahead by bringing coffee from home.”  It all adds up.  It does.  Or, “You’re a young guy.  Buy a house and sell it down the road, you’ll make lots of money.”

I learned early.  A house doesn’t make money.  It COSTS money.  So amid all the mockery and snickering along the way I quietly worked, invested and basically didn’t make a life and/or money stupid move.  Like investing in a speculative venture or ponzi/pyramid scheme.  I guess the kids call that Bitcoin these days.

My sad story ends with me being semi-retired.  I can pick and choose my hours and have enough FU money (I guess the ‘moisters’ refer to this as … ‘Freedom Unlimited’.) to call it a day if I choose.

Ok I guess that wasn’t so short after all.

A few observations:

Too many people try and spend their way to wealth.  You refer to the Audis and so forth.  They might be faking-it-till-they-make-it.  But, they’re all fake, and they’ll never make it.  Next time you see a massive house, or an Audi, or a high cost purchase, ask yourself, “Is it bought and paid for, free and clear?”  Sometimes it is, most often – nope.

For the ‘moisters’ out there – I believe getting married is the most important financial decision you’ll ever make.  More than your education, profession and even what you’ll invest in.  My wife, bless her heart, is even more of a bad ass than I am.  She possesses an MA in Philosophy and also worked a job completely unrelated to her post grad work.  She’s completely on the same page with how we invest and manage our finances.

We still consider $100 a lot of money.  As time went on we eventually caved in and bought a house and not a mortgage.  We only have one vehicle, and we can afford to buy new. 0 financing.  If we don’t get the deal we want, we’ll walk.

We also learned from our parents.  I know, it’s odd in our world today, but my folks actually knew each other and stayed married.  Same with my wife.  Buy only what you can afford.  Save.  Invest.  One step at a time.  Don’t skip steps or take shortcuts.  Don’t listen to morons.  Don’t do stupid shit and go to jail.  And etc.

You must either be bored if you’ve read this far.  One more thing – I believe a lot of this house-horny nonsense is a result of those ridiculous TV shows (buy it, flip it, renovate it, design it, buy it? and etc etc etc.  Selling them on something they can’t afford.  But hey, it’s “on trend.” Ok, thanks Garth.  I know you have more important things to do.  If you want to gleefully dissect this and pass along a response that’d be solid.  Cheers.

Scott’s moral: go your own way.

If the goal is freedom from worry and work at an age you can enjoy it, real estate my not be the right path. Especially now when costs are extreme and historic. Nobody needs to own, nor be in debt, to have a home. That’s where you live with the ones you care about. It’s where the dog sleeps.

Emotional and financial goals are often opposed. People make decisions by rote and instinct, not always with intellect and forethought. What worked for the parents may not for the child. What others covet may be your downfall. Pick the destination, then go your own way. Proudly.

212 comments ↓

#1 Leo Trollstoy on 02.18.18 at 3:34 pm

Generation First

#2 For those about to flop... on 02.18.18 at 3:40 pm

CONFIRMED PINK SNOW.

These guys perhaps begrudgingly lowered the price at least 4 times to try and find a way out but they got caught in the trap.

The details…

Paid 2.93 April 2016

Sold 2.88 December 2018

They tried to limit the damage but after known expenses and such they will probably have to recycle a lot of wine bottles to make up for the 225k that’s gone.

Or they could bang their heads on the kitchen Cabernet…

M43BC

Sold on December 16 2017

2306 w 12th Ave,Vancouver

Paid 2.93 in April 2016

Originally asking 3.28 then3.19 then 3.08 then 2.99

Just sold for 2.88

Tax assessment 2.81

2306 W 12th Avenue, Vancouver paid 2.93 ass2.81

Jun 16:$3,280,000
Jun 29: $2,998,000
Change: – 282000.00 -9%

https://www.zolo.ca/vancouver-real-estate/2306-w-12th-avenue

https://www.bcassessment.ca/Property/Info/QTAwMDAwMERKRw==

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#3 Millennial905er on 02.18.18 at 3:41 pm

I am hiring temp agency workers for a 2 month contract. PILES of real estate agents applied. Must be getting dire out there.

#4 Buy? Curious? on 02.18.18 at 3:43 pm

Shouldn’t Manitoba be called Peopletobia?

#5 crowdedelevatorfartz on 02.18.18 at 3:46 pm

A great story.
Simple, easy, unpretentious way to become comfortably well off.
Well done Scott.

#6 Zapstrap on 02.18.18 at 3:53 pm

Not saying Scott is a miser, but most misers don’t know how to spend the money when they end up with it. They leave it to someone who does.

#7 unbalanced on 02.18.18 at 4:01 pm

Manitoba aint that bad.

#8 Bill Janovick on 02.18.18 at 4:04 pm

Scott is a Canadian Hero! He moved to Winnipeg!

#9 AlMac on 02.18.18 at 4:08 pm

Did this guy work in the bubble gum factory too?

#10 Linda on 02.18.18 at 4:12 pm

Scott & his wife rock:) But the sensible, long term path is not what most want to hear. What they want to hear is ‘get rich quick’ and ‘you CAN have it all, right now’. The other way is so old school & boring, plus it takes like, discipline. What do you mean, I can’t have by goodie right now? I want/need it! (insert justification here).

When one hears about how so many are in financial difficulties, it is very reassuring to hear from those whose choices resulted in financial success.

#11 Terrie Rolph on 02.18.18 at 4:15 pm

I love this. :)

#12 Real estate on 02.18.18 at 4:26 pm

There’s a time to buy and a time not to buy

We purchased our beautiful home 22 years ago . The cost was approx 2.5 times income . We never saw this as an ‘asset’, hoping for explosive apprecition over time . Of course it ‘costs ‘money to maintain a house . But we could afford it , housing was reasonably priced and we planned on raising in this house – it would be ‘home ‘

Two decades later this standard house now sells for over $1,000,000 in Mississauga . A ridiculous appreciation given household incomes have changed little . This generation ,sadly , does not share the same good fortune as my wife and I had . Sad what has happened

#13 Dave Ahem on 02.18.18 at 4:27 pm

This is a nice “save-a-buck” story for a lot of people stuck in “save-a-buck” mode. If you can combine that with “make-a-buck” now you’re getting somewhere. Nobody talks about that side on this blog. My spouse and I increased our combined pay over 25k this year. We bought in Toronto 3 years ago and qualified then but we have spent as much time trying to make bucks as save them. Everyone else should too. Most who end up broke didn’t lose it in stocks or real estate, they never had it to begin with.

#14 Martin9999 on 02.18.18 at 4:27 pm

“ I can make own coffee (still do) for pennies a cup.”

To save 15k thats 10,000 coffes

1 coffee per day / it will take you around 30 years to save that kinda cash (inflation not calculated)

Sad thinking !!

#15 Martin9999 on 02.18.18 at 4:29 pm

If this is the way on being wealthy, you guys are reading commical books

Chears

#16 Rainman on 02.18.18 at 4:34 pm

He didn’t seem that happy really? and seemed to lead a boring life. I agree you don’t need to buy a house to be happy and successful, but have some fun and go and enjoy the world. Missing the point about this post other than it makes sense to save? Know when to spend a little too and enjoy life?

#17 Bubble Gum Kids on 02.18.18 at 4:39 pm

The kids of the bubblegum king moved to Winterpeg!

#18 Bezengy on 02.18.18 at 4:46 pm

I agree with Scott, some people may call me frugal, but it’s true that if you take care of the pennies, the dollars will take care of themselves. Money isn’t everything, but it certainly does give you options.

BTW…I thought this was going to be a “Grow Your Own Weed” story, any advise heading our way on that topic?

#19 TRUMP on 02.18.18 at 4:46 pm

DEBT is like a loaded gun…

You can use it to get everything you want in life or you can blow your head off with it.

Just depends how you manage it.

#20 Dan.t on 02.18.18 at 4:47 pm

Makes too much sense. Give it up… In canada it is only about how much house you have and the fake image you present to others. My impression of Canada anyhow. Used to be different but…in BC, all that matters. Just don’t drill people too deep on their financial situation and how they actually bought their “place” ( Bank of mom, friend loan, inheritance etc.) , just admire the AUDI, BMW and other stuff, bet it’s all paid for. Isn’t it 1,71$ debt to every 1$ earned in Canada.

Funny thing is, housing in Canada is somewhat the same as Bitcoin. Limited supply, the earlier you got in, the more you can now leverage risk free and the more you made, and if you do it right, buy more houses on leverage, and the earlier you got in, the cooler you are….no difference. You know right away what someone bought for in BC,

….” so when did you buy your place?- 2001 (you made a fortune), 2004 (still kicking ass- genius or just born at right time or right age), 2010( risky but you still the man), 2014 (doomers, screw you- my condo is on fire)- 2016 (ya, I m up like 100k on my condo), 2017 (whatever- I m in the condo game), 2018 in Van, nothing changing to date.

All that matters in Canada is real estate. Go outside Canada, for a while, not for like 2 weeks— you might find no one really cares as much about housing and rent vs own as Canada….but Canadians made it that way.

#21 TheDood on 02.18.18 at 4:54 pm

Think the point of Scott’s story is pretty simple……

Don’t be in such a rush to flush your finances away buying real estate. Save, invest, and live within your means – most Canadians don’t have a clue how to do this – quite evident in the massive pile of household debt most are in these days. There is no such thing as ‘good debt’, unless you are saving and paying yourself first, and paying debt second. If all your money goes towards debt/bills and none toward paying yourself, then it is bad debt. Period.

#22 Mark on 02.18.18 at 4:57 pm

GYOW? Grow Your Own Weed?

#23 Raging Ranter on 02.18.18 at 4:58 pm

All good, but is he still in Winnipeg? By all means stay out of the high cost regions like the GTA and Lower Mainland. But despite what Scott says, that’s not an easy city in which to get ahead financially. The relative “cheapness” of Winnipeg is a false economy. Here are some things that make Winnipeg expensive:

1) High MB income taxes that were only indexed starting last year (that’s 15 years of bracket creep most other provinces – except for PE and NS – didn’t have).
2) Frigid cold weather means a lot more vehicle maintenance and fuel consumption.
3) Point #2 is important, because the public transit is AWFUL, unless you both live and work on a major route.
4) Pot-holed streets in the spring destroy the suspension of even the sturdiest vehicle.
5) Photo radar and red light cameras everywhere, and the fines are exorbitant.
6) Low wage economy – most people doing well in Toba work for one or another level of government or for a Crown corp like Hydro, MPIC or MLLC.
7) Terrible rental market. Rents for single family houses are higher than Ottawa, with not nearly the selection. Apartment rents are cheaper, but apartments are universally $hit. (Might be some decent condos to rent now, I’m not sure.)
8) You will spend a fortune on plane tickets visiting friends and family, because everyone with a desire to improve their life ultimately moves away. The people you are left with are people who grew up in the city and still move in the same cliques they did in high school, even in their 40s and 50s. (I’m not exaggerating – this is a major Winnipeg characteristic oft noted by those moving there from elsewhere.)
9) You will spend even more money on plane tickets because there is not one point of interest anywhere within a day’s drive of Winnipeg. Feel like a Sunday afternoon drive? There is simply NOWHERE to go.
10) Therefore, EVERYONE goes to “the lake” on weekends. By “lake”, they often mean a cottage in a mosquito-infested subdivided swamp that is actually half an hour from the nearest open body of water. You either own a cottage, or you spend your weekends in the city with the other miserable souls who can’t afford one. Most people of means ultimately succumb and spend big bucks on a cottage, because the alternative – spending every summer weekend in an empty urban wasteland – will eventually lead to depression and suicide.
11) Every time someone you know – or their kids – gets married, you are obligated to cough up for a pair of “social” tickets. Don’t buy the tickets? You just lost a friend. I’m not sure how this crude tradition started, but I assume it’s because Tobans are generally so poor that they need to hold fund-raising “socials” to pay for the mosquito fogging and other incidental costs of their summer wedding.

That’s all I can think of for now. I’m a native Toban. I grew up in the Interlake, and spent the first 15 years of my adult life in Winnipeg. While I have only myself to blame, that city stole my youth. I was born there. What’s Scott’s excuse?

#24 Ray on 02.18.18 at 4:58 pm

And the Liberal or NDP governments will eventually say Scott is corrupt and unfair. Why should he be financially secure while everybody else is hurting. He must have done something illegal or had some sort of an unfair advantage. The only “fair” thing to do, in their opinion, is tax the crap out of the ‘Scotts” so everyone is equal.
(The Liberals & NDP confuse equal outcomes with equal opportunity)
Congratulations Scott, well done!

#25 Stan Brooks on 02.18.18 at 4:59 pm

Any attempt to behave rationally in a mental institution will be futile.

There is no logical arguing with emotions, religion and manias, with brainwashing which are extreme in Canada today.

There will be no logic in unwinding all this except the theft of anything exposed to the thieves.

Plan accordingly. Save you past labour/assets/money.
Nobody will help you when you need it.

#26 Stan Brooks on 02.18.18 at 5:04 pm

#20 Dan.t on 02.18.18 at 4:47 pm

Exactly.

Don’t waste your time and intelligence with this place.
It is not worth it.

#27 DON on 02.18.18 at 5:05 pm

#6 Zapstrap on 02.18.18 at 3:53 pm

Not saying Scott is a miser, but most misers don’t know how to spend the money when they end up with it. They leave it to someone who does.
***************

Soo what? Life with security is blissful. Loosen the Zapstrap.

#28 Stan Brooks on 02.18.18 at 5:15 pm

#23 Raging Ranter on 02.18.18 at 4:58 pm
All good, but is he still in Winnipeg? By all means stay out of the high cost regions like the GTA and Lower Mainland. But despite what Scott says, that’s not an easy city in which to get ahead financially. The relative “cheapness” of Winnipeg is a false economy. Here are some things that make Winnipeg expensive:

——————————-

All Canada is like that.
No jobs in small cities/same price of food.

Jobs in the big cities that does not justify expenses, you are pretty much wasting your time living non-enjoyable live, living to work for profit of the elite until you expire with nothing.

Cannibalization of the workforce in an era of automation.

If you are looking to live decent life, move to Europe or states like Minneapolis, Texas, Georgia, hell even Arizona.

10 times more livable when considering income and lifestyle.

Just need to erase that ‘proud Canadian’ thingy from you brain.

Speak to Canadians living in US for long time. Completely different perspective of life and values.

Your kids when you have them will appreciate it,
You will have none if you stay here Just the mortgage.

#29 Parksville Prankster on 02.18.18 at 5:20 pm

… Scott sounds like an alright dude, but I get jumpy around folks who use words like ‘whilst’, ‘shan’t’, or ‘m’lady’…

#30 Raging Ranter on 02.18.18 at 5:26 pm

@ #15 Martin99999,

Scott sounds like he’s doing alright, despite his unfortunate choice of location. The Internet if full of comments from guys like you, pretending to be wealthy and successful, sneering at anyone who doesn’t share their highly leveraged existence. If you really had money, you’d have neither the time nor the inclination to be here bragging about it. Maybe you should be looking for a part time job to supplement your income. That Audi in your driveway isn’t going to pay for itself.

#31 Stan Brooks on 02.18.18 at 5:29 pm

#12 Real estate on 02.18.18 at 4:26 pm
There’s a time to buy and a time not to buy

We purchased our beautiful home 22 years ago . The cost was approx 2.5 times income . We never saw this as an ‘asset’, hoping for explosive apprecition over time . Of course it ‘costs ‘money to maintain a house . But we could afford it , housing was reasonably priced and we planned on raising in this house – it would be ‘home ‘

Two decades later this standard house now sells for over $1,000,000 in Mississauga . A ridiculous appreciation given household incomes have changed little . This generation ,sadly , does not share the same good fortune as my wife and I had . Sad what has happened

—————————–

You won from the lottery.

A good house in Mississauga was 200 k 18 years ago.
Now is 1.2 million.

Now think about your kids who will have no chance of affording anything that you could and make the right choice for them.

You would not wont them to pay for somebody else sins.

#32 Who Knew on 02.18.18 at 5:32 pm

Is this really a surprise.

B.C.’s Attorney-General has pledged to crack down after an explosive investigation in the Globe and Mail uncovered what Vancouver journalist Kathy Tomlinson called Vancouver real estate’s “latest dirty little secret”: “shady money” from B.C. drug traffickers — funneled through property transaction loans and repaid to fentanyl suppliers in China.

The exposé by Tomlinson and Xiao Xu showed that some profits of the deadly fentanyl epidemic — which killed a record 1,422 British Columbians last year, 43 per cent above 2016 — are being laundered through the province’s skyrocketing real estate market.

Over roughly the same period, as opioid deaths began to jump in late 2014, property values also soared, pricing many locals out of the housing market. According to the Globe, at least “17 such lenders … have collectively claimed a $47-million stake, plus interest, in 45 Vancouver-area properties in recent years.”

Attorney-General David Eby vowed to get to the bottom of the allegations, and said that his government’s independent investigation by Peter German — an anti-laundering expert lawyer and former RCMP and Correctional Service deputy commissioner— could “explore what connection, if any” the allegations may have to real estate, casino crime and taxes as part of his casino investigation launched last fall.

#33 Rental Dreams on 02.18.18 at 5:34 pm

Now here you go again, you say
You want your freedom
Well who am I to keep you down
It’s only right that you should
Play the way you feel it
But listen carefully to the sound
Of your loneliness
Like a heartbeat drives you mad
In the stillness of remembering what you had
And what you lost, and what you had, and what you lost

#34 gfd on 02.18.18 at 5:34 pm

Civil unrest! Thousands of Vancouverites are preparing to brave freezing temperatures to join the affordable housing rally this afternoon in downtown Vancouver, to pressure British Columbia’s NDP government into taking action two days before Premier John Horgan and Finance Minister Carole James unveils the much anticipated provincial budget.
https://thinkpol.ca/2018/02/18/thousands-expected-vancouver-housing-rally-today/

#35 Stan Brooks on 02.18.18 at 5:42 pm

#34 gfd on 02.18.18 at 5:34 pm
Civil unrest! Thousands of Vancouverites are preparing to brave freezing temperatures to join the affordable housing rally this afternoon in downtown Vancouver, to pressure British Columbia’s NDP government into taking action two days before Premier John Horgan and Finance Minister Carole James unveils the much anticipated provincial budget.
https://thinkpol.ca/2018/02/18/thousands-expected-vancouver-housing-rally-today/

——————————

There is no doubt, the elite in this place will reap what they saw. And it will not be pretty.

#36 Stan Brooks on 02.18.18 at 5:42 pm

reap what they sow.

#37 When the Whip Comes Down on 02.18.18 at 5:45 pm

I am in a relatively new job. Speaking with two of my new colleagues recently, separate conversations with each of them, it was revealed to me that neither of them have any retirement savings to speak of. One has ~$20,000 he says, the other has no savings but a line of credit (debt, don’t know how much). Both of them make ~$80,000 per year. We have a small company pension plan, not super generous like a govt plan. These two individuals are in their LATE 50s!!!! I couldn’t believe it. Their kids are older and actually out of the house. Yes, both have houses, still with mortgages, but not big ones. I don’t know what they must spend their free cashflow on. I don’t know what they will do in 10-12 years, probably still will be working. My point is, how do you get to be almost 60 with no significant liquid wealth? This is but one random example I have provided. But its these two who I think of when I hear about the surveys of people approaching normal retirement with zilch savings of their own.

#38 Gary Smith on 02.18.18 at 5:46 pm

#23 Raging Ranter
——————————-/
Well put. I’ve not visited the blog in a few days. The years old “rent, don’t buy, prices may (GTs predictions always with an out clause) fall is getting old. And a lot of people missed out on the way up, and now can’t afford the condo they are “smartly” renting for 2k, before expenses they would have paid even while owning (utilities/internet).

A lot of mothering statements in this blog, but I’m sure/hope that moisters use common sense-live within you means. Buy your home for the right reasons-stability, marriage with kids, staying close to family AND a 15 year + horizon. Things can fall in value.

Buy a home as an investment with caution-especially in today’s markets in vancouver and Toronto.

AND if you are holding onto a presale condo to flip, the BC NDP may have a surprise for you in a couple of days.

#39 morrey on 02.18.18 at 5:50 pm

the insanity continues:

“Your own ‘White House’ in West Vancouver – for $22M”
Vancouver Courier FEBRUARY 17, 2018

#40 Chico on 02.18.18 at 5:50 pm

#4 Buy? Curious? on 02.18.18 at 3:43 pm

Shouldn’t Manitoba be called Peopletobia?

———————————————–

For sure….like totally….that’s like waaay better :)

#41 When the Whip Comes Down on 02.18.18 at 5:54 pm

#29 Parky Pranks – Maybe they’re english. I had a work buddy who was from the north of england, talked like that a lot. Even said Dern’t meaning “dare not”. I’d never heard that one.

#42 Another Deckchair on 02.18.18 at 5:55 pm

For those who think coffee is inexpensive:

do a web search for “tim hortons yacht” and see what selling coffee can purchase.

A work-day coffee from one of those coffee shops (like the one with the green mermaid insignia) plus the required edible item, is probably on the order of 20% of your yearly TFSA allowance.

Go twice a day, and you are up at 40% of the TFSA yearly…

#43 JG on 02.18.18 at 5:59 pm

Love the vid. Made my day.

#44 FOUR FINGERS WATSON on 02.18.18 at 6:04 pm

Is it cultural, tribal or just FOMO pressure that makes kids hot to get mortgaged? Do they believe it’s an easy path to getting money without working? Maybe an overpowering urge for stability and nesting? Or is it just social – succumbing to peer pressures
…………………………….

It is all of the above. It is never just one thing.

#45 Mean Gene on 02.18.18 at 6:05 pm

Sina on the drums, discovered her a few months ago doing a cover of Jump by Van Halen https://youtu.be/abwqTcRjgiY

For the moisters this applies https://youtu.be/yQeC_6bOFqs

Rock on Garth!!!

#46 Ace Goodheart on 02.18.18 at 6:06 pm

Financial freedom through badassity. It’s not a myth. It’s a way of life. Scott is a member of our very exclusive club.

Price of entry?

Having a functional brain and being willing to use it….

#47 I’m stupid on 02.18.18 at 6:11 pm

#14 Martin9999

“ I can make own coffee (still do) for pennies a cup.”

To save 15k thats 10,000 coffes

1 coffee per day / it will take you around 30 years to save that kinda cash (inflation not calculated)

Sad thinking !!
————

The coffee is a metaphor for stupid discretionary spending. Small adjustments to your spending habits and long periods of time will put you in a better financial place.

I learnt this lesson at 28 when I was clearing out my closets and realized I was donating 15k of clothes to Goodwill.

It starts with Tim’s/Starbucks coffee. I brew my own coffee in the morning, I set the machine and it’s ready when I leave for work. It’s cheaper and faster than having to stop at Tim’s.

Things that make a big impact on net worth over time:

Ultra name brand clothes, you’re paying for marketing not quality. Buying good quality clothing that isn’t Armani doesn’t change your quality of life.

Buying lunch instead of packing a lunch. Not only do you save money by packing your own lunch but you usually make bad eating decisions by buying your lunch. Doing this actually increases your quality of life.

Don’t smoke or drink ( that includes drugs).

Don’t gamble, including the lottery.

Buy a fuel efficient vehicle if you drive a lot for work.

Always shop around for the best insurance rates once your policy comes up for renewal. Insurance companies like giving new customers great rates then start to increase them slowly over time.

Don’t pay for first class airfare unless you’re taller than 6 2. Don’t stay at 5 star hotels the difference between 4 and 5 star is minuscule.

Don’t shop at high end grocery stores, fine food stores etc etc.

Don’t buy/rent more space than you need. Extra bedroom for guests is a good example of useless square footage if you have guests once a year. Theatre room is another, you can go to the actual theatre for less than the cost of the square footage and equipment cost.

Avoid debt, there is no such thing as good debt when it’s for personal consumption.

You can ignore the above if you have $5million or more.

#48 TheSecretCode on 02.18.18 at 6:12 pm

DELETED

#49 Chico on 02.18.18 at 6:13 pm

#23 Raging Ranter on 02.18.18 at 4:58 pm

———————————————–

Thank you so much for that! I laughed and laughed and laughed. I showed my son and thought it was hilarious as well. Stay away from any tall bridges bud.

#50 Chico on 02.18.18 at 6:15 pm

#26 Stan Brooks on 02.18.18 at 5:04 pm

#20 Dan.t on 02.18.18 at 4:47 pm

Exactly.

Don’t waste your time and intelligence with this place.
It is not worth it.

————————————————

It’s nice to see that you’ve not wasted any of your time complaining about Canada. How stupid you would be if you did that, eh?

#51 Chipshot on 02.18.18 at 6:16 pm

Great post and video Garth. The kids will inherit this mess so best they don’t get caught up in this disaster waiting to happen.

#52 Linda on 02.18.18 at 6:17 pm

Vancouver has freezing temperatures? Say it ain’t so!

#53 gfd on 02.18.18 at 6:24 pm

Civil unrest.
Thousands of Vancouverites are preparing to brave freezing temperatures to join the affordable housing rally this afternoon in downtown Vancouver, to pressure British Columbia’s NDP government into taking action two days before Premier John Horgan and Finance Minister Carole James unveils the much anticipated provincial budget.
https://thinkpol.ca/2018/02/18/thousands-expected-vancouver-housing-rally-today/

#54 Michael King on 02.18.18 at 6:25 pm

Writing from Vancouver Kitsilano (Westside). This is one of the most expensive areas for real estate in the city. There are LOTS of “For Sale” banners out this afternoon. A sign of the times: one detached house for sale also had a notice saying that a mortgage specialist was in attendance. The individual wasn’t from a Big Five bank or even a credit union. This is who he works for.
https://www.xeva.ca/
Yikes!

#55 crossbordershopper on 02.18.18 at 6:29 pm

so the goal in life is to have a non fun life in the prairies. You dont take much risk, assuming your a normal health person then you should be 65 without much health issues. If your lifestyle doesnt include smoking drugs, drinking and crazy women, sure you can go to work and end your working life with some cash, quite a bit of it.
but what is living? the drunk native in Winnipeg, no nat racist, you have to go there to know what i am talking about, have a good life, just like in Sask where I am currently. Having no expecations in life other then to cut costs and be a miser is ok, but its a boring simple life,
life is to be lived, before you die. I have seen it all , depressed millionaires, and happy poor people, its perspective, drywall is drywall, so tired of it.
go get some sun in Florida, being poor at 65 I think is great, live in florida 6 months or my buddy Paul, he is 71 now, lives 6 months in bahamas fishing, and 6 months up here at sisters house.
great life, did nothing, saved nothing and is currently snorkling, while everyone else up here is packing a lunch for work tomorrow.

#56 Victor V on 02.18.18 at 6:33 pm

“My sad story ends with me being semi-retired. I can pick and choose my hours and have enough FU money (I guess the ‘moisters’ refer to this as … ‘Freedom Unlimited’.) to call it a day if I choose.”

=========

Amen => https://youtu.be/xdfeXqHFmPI

#57 TheSecretCode on 02.18.18 at 6:45 pm

I am out shopping yesterday to get some food (like who can afford food anymore in BC after paying the mortgage? but collected some extra cans as my third job in producing a few extra beans) and who do I see?

Just to my left: R.Coleman…the former top cop and BC Lib…and what is he doing? I had to walk by on my way out to see and he is reading Sam’s article in the paper while standing at a high table near the sandwich bar…lol!

It was pointed out to me by some people talking by the cash register about how cheesed off they were about housing costs and saying some pretty not-so-nice comments about Big R and how he was complicit in not doing anything about housing and the laundering happening at River Rock and throughout BC when they knew about it.

You obviously can’t blame just one person for the out of control housing and laundering problem, with banks more than willing to accept the money from wherever, whoever, whatever.

…but the point is that it is pretty obvious out on the street in BC right now how unhappy people are with this mess, and the house of cards and politicians are no doubt are in uncharted territory. This conversation btw is the crappiest one anyone could ever have…like there are not better things in life than worrying about being homeless or not able to live in an area where there is employment…and therefore basically be pushed out of employment…pray for the young up and coming.

http://www.vancourier.com/news/two-housing-rallies-planned-for-sunday-1.23177203

#58 TheSecretCode on 02.18.18 at 6:54 pm

I will listen to what the announcement is by the NDP this week, then proceed to list my Kelowna SFD in chasing the biggest SFD buy opportunity since the US SFD of 2011: Calgary, AB 2018.

790K for the SFD in Kelowna with the equivalent SFD in Calgary right now being sized up at around 495K. Bye, bye mortgage and hello free and clear on title on the investment property with the opportunity of a massive rental cap infusion. Renting it out sub $1000 per month for the whole house in Calgary will have me in a higher net position…imagine when the Calgary market recovers what the opportunity will be like…

This is how you do it folks…buy when people are rushing out…sell when people are rushing in…and if you are wanting to walk a real fine line…wait up until just before the tide turns (like happening now) without missing out…we will see if that time window has expired.

#59 common sense on 02.18.18 at 6:58 pm

I love Scott….

Simple, good choices he was comfortable with. So easy in principle, sometimes hard to do because of perceived social pressure to impress those who do not give a S%^& in the end of what your worth or have. Take care of yourself. Period.

I love FU money and lifestyle.

Debt free, lying on my couch, 3 hours a day grossing $250/day 4 days a week carefully playing low risk, small bet WTI oil futures, listening to great music, peaceful, stress free as a clam….

Thanks for sharing this story Garth and when friends say it “must be nice”, I say nothing. I took responsibility and made CHOICES.

#60 BlogDog123 on 02.18.18 at 7:03 pm

But we need smart hardworking people, good high earners to keep paying taxes. Look at Atlantic Canada, population decline, larger percentage of retirees vs. young and rising incomes. Not a big tax base, resulting in punishing provincial income tax rates for the high earners who choose to remain.

If young adults are up to their eyeballs servicing housing debt, they can’t spend their money (sales taxes), or upgrade their skills ($ career education) or contribute to labour mobility (change locations for better salary).

#61 Lost...but not leased on 02.18.18 at 7:05 pm

#23 Raging Ranter

Thanks for the scoop on LoserPeg..err Winnipeg

A picture is worth a thousand words..but a good rant is worth a thousand pictures !

#62 Pete on 02.18.18 at 7:06 pm

#12 Real estate on 02.18.18 at 4:26 pm
There’s a time to buy and a time not to buy
We purchased our beautiful home 22 years ago . The cost was approx 2.5 times income . We never saw this as an ‘asset’, hoping for explosive apprecition over time . Of course it ‘costs ‘money to maintain a house . But we could afford it , housing was reasonably priced and we planned on raising in this house – it would be ‘home ‘
Two decades later this standard house now sells for over $1,000,000 in Mississauga . A ridiculous appreciation given household incomes have changed little . This generation ,sadly , does not share the same good fortune as my wife and I had . Sad what has happened
—————————————————————
That’s BS!

You bought in 1996 – 6 years after a major crash. You were just plain lucky. In 1990, a typical house in Mississauga (that I owned at the time) cost $300k or 6x the average salary. Same house in 1996 was $180k. I know because I was in that market. Your $1M house is probably down to $900k by now and will be $700k in not too much longer. It takes several years for an unwinding to happen. Don’t feel sorry for youngin’s – the market will correct, but after some major pain for those that bought recently and listened to the wrong people. Thank God I cashed out!

#63 NoName on 02.18.18 at 7:13 pm

Scott is David Bach, Mr latte factor himself.

https://youtu.be/pneBKFjxInQ

#64 Andre on 02.18.18 at 7:20 pm

One of the biggest challenges in life is to find balance in our actions/behavior. Balance in work/leisure time, sex partners /stable relationship, spending/saving, exercise/french cuisine can be hard to find. Very few people got it right all the time; most people will go through phases. I think that aging helps ( it did in my case). The ideal is to survive the unbalance periods in life and do our best to do not jeopardize our future and/or options. Freedom and happiness are the only true measures of success in my opinion.

#65 Esso on 02.18.18 at 7:21 pm

Hey Scott, thanks. My spouse and I are like you. We followed a slightly different path but are now comfortable and stress free working toward retirement. A decent house, a decent vehicle, but nothing fancy. In our early to mid 40s, we now have 30 years olds asking for advice. Like you said, good marriage, common sense, modest life.

#66 For those about to flop... on 02.18.18 at 7:26 pm

Recent Sale Report/ Realtor Assistance Needed.

This luxury condo in Richmond sold 7 days ago.

These guys had a bit of breathing space but a comparable unit had sold for around 3 million in the last year or so.

It is an astronomical amount to pay for any condo,let alone in Richmond but someone thought it was worth it and now we have to see how far along the rabies are…

M43BC

102-5131 Brighouse Way, Richmond paid 3.02 asking 3.58

Nov 27:$3,988,000
Ju Feb 9: $3,880,000
Change: – 108000.00 -3%

http://www.rew.ca/properties/R2137308/102-5131-brighouse-way-richmond-bc

https://www.zolo.ca/richmond-real-estate/5131-brighouse-way/102

https://www.bcassessment.ca/Property/Info/RDAwMDBLMkI3VA==

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#67 My dog has issues on 02.18.18 at 7:42 pm

#64 Andre

Great post! Reminds me of this….

“Do not be overrighteous,
neither be overwise—
why destroy yourself?
Do not be overwicked,
and do not be a fool—
why die before your time?”

#68 Kyle Griffin on 02.18.18 at 7:47 pm

That must have felt so good getting a bitcoin bash in there that you didn’t even have to come up with yourself haha. Still 4x on my crypto holdings that make up a small percentage of my entire investments, just sayin

#69 Chico on 02.18.18 at 7:58 pm

#60 BlogDog123 on 02.18.18 at 7:03 pm

But we need smart hardworking people, good high earners to keep paying taxes. Look at Atlantic Canada, population decline, larger percentage of retirees vs. young and rising incomes. Not a big tax base, resulting in punishing provincial income tax rates for the high earners who choose to remain.

—————————————————-

Please define “punishing provincial income tax rate.” This sounds like something you got from the CBC or some other “news” outlet that needs to use some sort of a scale to measure who is the “best” and the “worst” in an attempt to get you to read the article, yet never talks about the other costs that affect a region. It’s like BC over the last several years bragging about the “best economy in the country,” while they were spending themselves into oblivion.

Regarding your comment about “those that choose to remain,” you might want to get with the times. The fastest growing city in the country last year…Halifax.

#70 Danny on 02.18.18 at 8:07 pm

Long….but worth the read.

Real Estate buying……is no doubt …a sociological pressure…..everyone selling it are like those ”snake oil salespeople ” of long ago….pushing their remedy as a cure for all your troubles.

I am surprised that real estate propaganda photos….don’t show images of sexy women like selling a car used to show!……or those well fit beautiful models these days that are selling vacation spots!

But actually many condominium billboards and flyers do.

Buy a condominium and you will become magically healthy and have great sex.

Good try Mr. Developer…….won’t work on me!

#71 Darryl on 02.18.18 at 8:08 pm

Wow
Garth posted tunes .
Impressive for Teens . Especially the drummer . Guitar not bad either . Is that SCM on lead vocals ?

#72 LadyInWaiting on 02.18.18 at 8:14 pm

CIBC (other banks to follow soon) quietly announces change in mortgage qualification — a stress test for individuals with foreign income. May be hard to determine the impact of this change for Vancouver RE, as other simultaneous changes may be coming in BC this month. I apologize if this was already posted.

#73 Babou on 02.18.18 at 8:25 pm

Sorry in advance, this is a long one.
Ok, these little stories about how wise people are not to invest in real estate are just that- little stories about people. They don’t prove anything, and the enormous effort being made to pitch this version of truth is having the opposite of it’s intended affect in my case. The fact is that real estate can be and has been a phenomenal investment in certain places at certain times. Vancouver or Toronto may not currently be one of those places, but Vancouver at least certainly has been. The fact is that real estate in Vancouver has been a gold mine for quite a long time and a lot of people have made huge windfalls from it.
My wife’s parents worked pretty much all their lives at reasonably well-paid jobs and invested their money carefully. They now have a fairly comfortable retirement but by no means a lavish one. The piece of dirt that they lived on for the past 30 years, which they bought for $300K, was worth $3,500,000 last time they checked. The dirt made more than the both of them saving and investing for their entire lives. And there are a LOT of people in Vancouver like this who have made enormous fortunes from real estate. In theory they could have bought that house and rented it out and been bums for the rest of their lives and ended up in the same place as the couple who worked and saved. That is one thing I keep hearing on this blog is that there is a loss of freedom associated with owning a home and I think this is simply not true. You can always rent it out, and know you have a place to come back to. If renting is so good, rent your home out to someone willing to pay the big bucks and rent a cheap place for yourself. If you have timed it well then the prices will go up and someone else will pay down your mortgage so you can make money on both ends. The big piece of logic I see missing from all this anti-owning rhetoric is that the more money you invest the more you can make. If you have $20,000 in your TFSA and you make a whopping 20% increase one year you made a staggering $4K. At this rate it will take you 30 years of grinding away at your job to be able to retire. If instead you borrowed $1 million and took a risk and invested in real estate then that same 20% gain made you $200K. And there you just saved yourself 10 years of scraping along to get a portfolio started. Real estate (in Vancouver) is the only way I know of for average young folk to get hold of enough cash to make real money.
While I have not been around long enough to benefit from the huge boom in Vancouver over the past 20 years I caught the tail end of it, and I challenge Garth to tell me how I could have done better (apart from buying Bitcoin of course and selling it at $20K ;).

-Bought first condo in Victoria in 2008 (one month before the crash) for $335K. Put down 20%, and rent paid for the costs of owning/servicing debt/strata etc. This place didn’t do so well but has gone up and is currently worth approx $450K, and remaining mortgage is $220K

-Second condo was Vancouver pre-build 2 bedroom purchased in 2010 for $450K. It completed in 2012 and we lived in it happily for 3 years and then sold it in June 2016 (right before the foreign buyers tax) for $830K. Cleared $300K tax free, and while living there cost was comparable to renting because we had put 20% down.

-3rd condo was another pre-build, this time a one bedroom penthouse across the street from our 2 bedroom and we paid $475K for it in 2015. We put 25% down and it completed in Spring 2017. Is currently rented out and generating $600/month above expenses/strata etc. Recently spoke to our realtor about putting it on the market and she suggested a price of $800K. So likely another $300K there.

-Finally with the profits from the sale of 2 bedroom we purchased a detached home in November 2016 in east Vancouver for $1,570,000. Apparently detached homes went up 8.3% percent in 2017 (though that is the Vancouver average and I suspect east Vancouver is higher since west side was actually down) which means an increase of $130K. According to my math our increase in worth from increase in value and renters re-paying our debt comes to around $900K. Garth I challenge you to show me how I could have made that much by investing:

2008- $75K

2010- $100K

2015- $125K

2016- $410K

When I plug these numbers through a compound interest calculator at 8% return I get total profit of $236K. So a little more that 1/4 of what I was able to generate through real estate. Garth how much would your balanced portfolio have made with these numbers in this time?
And by the way I love the portfolio idea and am planning to divest of all real estate except for the house. I just don’t like starting with the portfolio. I don’t want to have to work for 10 years before any real money starts coming in. I think real estate has been much better, though yes, it is riskier. I say buy it while you’re young and can wait it out if it goes south. You’re going to need a place to live anyway. What do you think Garth?

I think those who brag online probably have issues. – Garth

#74 mathman on 02.18.18 at 8:28 pm

The coffee metaphor is so reflective of people today.

The leader of my company brings his own coffee and eats leftovers for lunch, the millennials on the bottom of the corporate ladder buy $7 coffees and never bring their lunch, while at the same time wearing the nicest suits in the building.

The pennies matter a lot – Scott is not a miser, he simply knows the value of a dollar.

It has never in Canadian history been so beneficial to be dumb as in the last 8 years – ignorance to any level of numeracy has led to great RE gains. The reality is these folks will also never sell and the gains will be wiped away, those the levered up with go bankrupt.

Math

#75 Doug t on 02.18.18 at 8:42 pm

Those kids ROCK – I love it – bunch old Dodgers all of us talkin money and retirement but these kids are SO alive and COOL and kickin out the jams – ROCK ON you guys

RATM

#76 Rooster on 02.18.18 at 8:44 pm

#23 Raging Ranter on 02.18.18 at 4:58 pm

That’s all I can think of for now. I’m a native Toban. I grew up in the Interlake, and spent the first 15 years of my adult life in Winnipeg. While I have only myself to blame, that city stole my youth. I was born there. What’s Scott’s excuse?
——————-
I had to laugh at this post. I have previously lived in Winnipeg for 10 years, it is hard to argue with any of those points!

#77 Where is he? on 02.18.18 at 8:44 pm

What happened to freedom first?

#78 Mark on 02.18.18 at 8:45 pm

“In 1990, a typical house in Mississauga (that I owned at the time) cost $300k or 6x the average salary. Same house in 1996 was $180k. I know because I was in that market. “

FWIW, my recollection of Mississauga was that houses that went for $500k in the late 1980s/early 1990s, were down to $250-$300k by the mid 1990s, and the same houses are now trading at just around $1M, pretty much flat since the 2013 apex in prices in the GTA/GVR.

Professional salaries have probably doubled since 1990, so the ratios of the peaks aren’t all that severely out of whack.

Of course, the same neighbourhood was once upper-middle class, and is now just middle class for $1M. High density living arrangements are increasingly common.

Interestingly, when I went for a walk in the neighbourhood over Thanksgiving. Half the houses, you could distinctly smell curry and Indian spices emanating. The other half, the traditional Turkey dinner. Oh what olefactory delights!

#79 Newcomer on 02.18.18 at 8:46 pm

I get that this is a financial blog, and so we see the word here through glasses of a particular tint, but whatever happened to healthy young-adult goals like getting into the bondage scene in Berlin, joining a cult, saving the world or plotting the overthrow of whatever was in need of overthrowing. Man, people sure don’t go their own way like they used to.

#80 Raging Ranter on 02.18.18 at 8:51 pm

Bayou, you just described classic bubble behaviour. Leveraging real estate gains into more real estate. Minsky called that ponzi borrowing. You are now way over exposed to a single asset class. Best cross your fingers and hope there is no crash.

#81 Cici on 02.18.18 at 8:54 pm

Those kids are all so awesome…not just another cover, the kids are real!

#82 Damifino on 02.18.18 at 8:56 pm

#71 Darryl

Impressive for Teens . Especially the drummer.
——————————-

That drummer is a German girl named Sina. She’s now an 18-year-old wunderkind who’s come a long way since that video. She has long career ahead.

I played drums for 53 years, a few of those years professionally. I’m not even fit to carry her drums to a gig let alone set them up for her.

#83 Chico on 02.18.18 at 9:05 pm

#76 Rooster on 02.18.18 at 8:44 pm

#23 Raging Ranter on 02.18.18 at 4:58 pm

That’s all I can think of for now. I’m a native Toban. I grew up in the Interlake, and spent the first 15 years of my adult life in Winnipeg. While I have only myself to blame, that city stole my youth. I was born there. What’s Scott’s excuse?
——————-
I had to laugh at this post. I have previously lived in Winnipeg for 10 years, it is hard to argue with any of those points!

————————————-

You mean the city of Winnipeg “stole your youth?” How does a “city” do such a thing?
Scarborough ate my heart!
Kelowna took my sister!
Quebec City destroyed my marriage!

#84 Andre on 02.18.18 at 9:21 pm

#23 Raging Ranter

I am laughing hard at your post. Number 9 and 10 are the best of all… :) My wife is from Saskatoon. We met in TO but moved to SK after our first child was born. We stayed for a total of 8 months, after which I convinced her that we should moved to Brisbane Australia :)… I am now back in the North (couldn’t keep her away from her roots that long)…:) I feel your pain :)

#85 Raging Ranter on 02.18.18 at 9:25 pm

@#77, Freedom First has added a vow of silence to his vow of chastity. The sllence extends to Internet commenting.

#86 Smoking Man on 02.18.18 at 9:27 pm

The exit continues . Smart money leaving before we go from socialism to communism.

https://www.ctvnews.ca/mobile/business/montreal-s-oreo-cookie-plant-prepares-to-shut-its-doors-1.3808792#_gus&_gucid=&_gup=twitter&_gsc=6PrQcsT

#87 JSS on 02.18.18 at 9:30 pm

#78 Mark.
So what does curry spices have to do with your story? Are the immigrants in Mississauga bothering you? What is your point?

#88 Millennial-falcon on 02.18.18 at 9:32 pm

https://www.theglobeandmail.com/opinion/youth-pay-the-price-for-british-columbias-real-estate-crisis/article38018591/

#89 MrMarket on 02.18.18 at 9:35 pm

Garth it’s the lure and idea of “easy money” that makes people want to get mortgaged. Real estate comprises the majority of the Canadian economy and we’ve been brainwashed for years that it’s the path to wealth thanks to emergency level interest rates that have lasted for over 10 years (where is the emergency?). Now Poloz is panicked and scared and the BoC is afraid to raise rates because it’ll bring everything down.

People don’t want to work nor do they want to wait to make money. That’s why people don’t invest. They are literally too stupid and too lazy and want fast and easy money. Now the country is f’ed economically because of it. Hey let’s just build that pipeline and everything will be fine right? That and some more photos of grown men wearing socks with ducks on them.

#90 Big Daddy on 02.18.18 at 9:40 pm

DELETED

#91 Prairieboy43 on 02.18.18 at 9:43 pm

What happened to Freedom First? Freedom First made himself a New Years resolution.

http://www.msn.com/en-ca/money/markets/this-guy-lost-dollar10000-trying-to-time-this-volatile-market-%e2%80%94-using-his-credit-card/ar-BBIMnvz?li=AAgh0dA&ocid=UE12DHP
PB43

#92 Dobermanduke on 02.18.18 at 10:00 pm

#14 Martin9999 on 02.18.18 at 4:27 pm

“ I can make own coffee (still do) for pennies a cup.”

To save 15k thats 10,000 coffes

1 coffee per day / it will take you around 30 years to save that kinda cash (inflation not calculated)

Sad thinking !!

—————————————————

Wow, that point was totally lost on you!

#93 Anti Scott on 02.18.18 at 10:01 pm

Dear Scott,

Congratulations on being semi retired. I honestly and sincerely congratulate you on your ability to develop a plan and stick to it. However, you do not need to be so smug about your situation. The goal of life should be to maximize options and freedom. One doesn’t need to limit one’s life choices to achieve this goal. Frankly, your life seems a little dull to me. I live in a considerably more expensive jurisdiction (Manhattan) and have managed to avoid debt an save an F-load of money. So, the point is, you don’t have to be a smug martyr to get ahead in life. Live life, man.

#94 SoggyShorts on 02.18.18 at 10:17 pm

#73 Babou on 02.18.18 at 8:25 pm
As you say, realestate can generate more wealth than investing sue to leverage…but you know you can leverage investments too, right? You can borrow money to invest. Like a lot of it.
Do you know why it’s not generally recommended to do that?
Risk. At least borrowing to invest allows you to spread it around and reduce some of that risk.
Would you borrow 1m to buy 1 stock?
How is that different from a home?

Also, most people don’t live in the GTA/van. Just look at alberta- the last 10 years while van/gta prices went nuts, prices in AB are FLAT
So those who invested reasonably doubled thier money, and those who bought a home lost money.

#95 Martin9999 on 02.18.18 at 10:19 pm

To #30 Raging Ranter on 02.18.18 at 5:26 pm

I drive a benz by the way, not an audi

#96 Martin9999 on 02.18.18 at 10:23 pm

To #47 I’m stupid on 02.18.18 at 6:11 pm

Your name says it all pal

I hope your coffee machine doesnt breaks dowm and it serves you a lifetime. ;)

#97 SoggyShorts on 02.18.18 at 10:26 pm

#47 I’m stupid on 02.18.18 at 6:11 pm
The coffee is a metaphor for stupid discretionary spending. Small adjustments to your spending habits and long periods of time will put you in a better financial place.

I learnt this lesson at 28 when I was clearing out my closets and realized I was donating 15k of clothes to Goodwill.
*****************************************
People are crazy with clothes. $400 for a pair of jeans?
My wife and I have been together for over 15 years, and we have spent maybe $1,000 on clothes in Canada, we do buy a decent amount of clothes, but we do it when we vacation in Asia for 5 cents on the dollar. The only exception is the occasional pair of shoes for me since it’s pretty hard to find size 13 over there….

#98 AJ on 02.18.18 at 10:33 pm

#55 crossbordershopper

Amen.

#99 dr. talc on 02.18.18 at 10:35 pm

#53 gfd on 02.18.18 at 6:24 pm
Civil unrest.
Thousands of Vancouverites are preparing to brave freezing temperatures to join the affordable housing rally this afternoon in downtown Vancouver, to pressure British Columbia’s NDP government into taking action two days before Premier John Horgan and Finance Minister Carole James unveils the much anticipated provincial budget.
https://thinkpol.ca/2018/02/18/thousands-expected-vancouver-housing-rally-today/

The rulers and controllers want the disenfranchised masses to paint signs and march around in circles:
that’s what they want.

#100 Martin9999 on 02.18.18 at 10:36 pm

To #92 Dobermanduke on 02.18.18 at 10:00 pm

So much gor a fimancial blog trying to make a financial pointon saving at tim hortons

I admit, truly this blog is a charm and is definitely one of a kind.

Without the comment section , the audience of this blog wouldnt be what it is

Cheers

#101 JRT on 02.18.18 at 10:39 pm

In 2005 this tune was popular in European night clubs.

https://en.wikipedia.org/wiki/Winnipeg_Is_a_Frozen_Shithole

Never been to Winnipeg but lived in Prince George once.

OT. Concerning the Sherman murders in TO, This info was given by someone who is in a position to know. Take it for what it’s worth. I know no more than what I revealed.

Barry Sherman was to go to Washington to be interviewed by the Office of The Inspector General.During the Haiti earthquake disaster a few years ago his pharmaceutical firms gave millions of dollars in badly needed drugs and large amounts of cash through the Clinton Foundation.The money and drugs never reached Haiti. You know where this is going. There are also a couple of other murders that are associated with this situation. The Inspector General will be releasing a report next month that is going to shake US politics and the Clintons. Of course the corporate media and the CBC and their ilk will be vewy vewy quite on this.

#102 Re., Pete on 02.18.18 at 10:51 pm

‘That’s bullshit ‘

Huh?

You sound angry . You okay ? I was sharing my experience . And yes we did get lucky .

House was bought for $264,000 . I bought just 2 yrs out of dental school .

Our house is worth over $1,000,000. Mortgage free. And if it drops to $700,000? I don’t care . We love our home . I don’t include our home in our retirement numbers . Could retire tomorrow if I wanted to . I like my job

Take a pill . Geez

#103 Mark on 02.18.18 at 10:51 pm

“#78 Mark.
So what does curry spices have to do with your story? Are the immigrants in Mississauga bothering you? What is your point?”

Extraneous info. Just thought it was kind of neat walking along and every second house the smell that emanated changed from turkey to curry.

I personally prefer eating the latter, not the former.

#104 SoggyShorts on 02.18.18 at 10:54 pm

#55 crossbordershopper on 02.18.18 at 6:29 pm
so the goal in life is to have a non fun life in the prairies.
*******************************
I prefer to be smart about some things so that I can afford to be dumb with others.
Make my own coffee
Have friends over for drinks instead of out for drinks.
Spend a little time online shopping around before making a purchase, especially something you know is made in China anyways, you can get it for 70% less direct.
Wait for a sale on vacations etc.
Switch cell phone providers/insurance companies as often as your contract allows.
Netflix over cable.
etc.

All of the little things that have no negative impact on our life enjoyment allow us to take multiple out of country vacations each year(where the wife gets amazing dresses custom made for $30 each) In fact, 95% of what is in our closets is made and bought in Asia.

I have a business partner, who I know for a fact has made exactly the same income I have for the last 8 years. He plays the hero and picks up the bar tab for his friends(and strangers), gets drunk and decides to get a hotel room instead of a cab, wears $400 jeans and $500 sunglasses that look like the $30 ones etc.
He literally lives paycheck to paycheck, and I plan to retire very comfortably for my wife’s 40th birthday in a couple of years.

Being smart with money doesn’t mean you have to be miserly or live a boring life. That wouldn’t be “smart”

#105 Dead Cat Bounce on 02.18.18 at 11:08 pm

I often thought about moving to Saskatchewan as I hear it’s quite affordable compared to YVR.
I’ve had some friends from here that have moved back as they were from there, they always say people are much happier there then in Vancouver, they’ve said strangers will even say hello on the street.
Sounds crazy to me, but after a bitter few days here on the west coast, close to 10 cm of snow last night, and now the current temperature has dropped to -1.
I sometimes wonder just how bad could living in somewhere like Saskatoon be ?

#106 Hey Pete .. on 02.18.18 at 11:58 pm

You angry ?

Yes our house is worth over a million dollars in Mississauga , not $900,000- you have no clue the area and size of the house .

Why would you lash out …and embarrass yourself ?

Of course we got lucky . I stated such in the original entry -missed that ? It’s going to $700,000? Talking out
Of your ass?

#107 Russ on 02.19.18 at 12:06 am

Darryl on 02.18.18 at 8:08 pm

Wow
Garth posted tunes .
Impressive for Teens . Especially the drummer . Guitar not bad either .

Is that SCM on lead vocals ?
=============================

I don’t believe so.

The girls in the video have talent and soul.

#108 Old Ron the Realtor on 02.19.18 at 12:13 am

Winnipeg.

“Whenever you get there, there is no there there”

—– Gertrude Stein

#109 Fake News Again on 02.19.18 at 12:20 am

FUNNIEST pic ever. But I am biased. The town I live in is full of blonde bible thumpers that feel there is some passage in the bible that states “Thou shalt wear long blue jean skirts…..”.

I honestly thought there was some giant blue jean skirt sale when I first moved here until someone tuned me into the fanaticism of the church folk here…..

#110 Stan Brooks on 02.19.18 at 12:31 am

#50 Chico on 02.18.18 at 6:15 pm
#26 Stan Brooks on 02.18.18 at 5:04 pm

#20 Dan.t on 02.18.18 at 4:47 pm

Exactly.

Don’t waste your time and intelligence with this place.
It is not worth it.

————————————————

It’s nice to see that you’ve not wasted any of your time complaining about Canada. How stupid you would be if you did that, eh?

========================

There is a difference.

I consider it charity work, owned to the good people of Canada, not the elite.

Volunteering is in our blood, no?

A few minutes a day.
Vs 12 hours of rat racing daily.

Self delusion will not help us.

#111 mousey on 02.19.18 at 12:40 am

Watched the video and then watched about two hours of Sina playing the drums. Holy crow can that young lady play drums! Wow. I will be dragging out my snare drum and hi-hat from the garden shed into the kitchen and terrorizing the cats. I hope they like long drum solos.

#112 peeptopia on 02.19.18 at 12:40 am

#4 Buy? Curious? on 02.18.18 at 3:43 pm

Shouldn’t Manitoba be called Peopletobia?”

U can do better, how about People-we-topia

#113 Sockeyemoon on 02.19.18 at 12:42 am

On year of the dog…
“As the elements of the year is unbalanced, we are going to see overcapacity and a glut of resources and property, making this not a good year for investing in a new house.”

#114 ShawnG in TO on 02.19.18 at 12:44 am

“Freedom Unlimited” money. hahaha. i love this guy. we need to make this term a regular in GF land.

#115 The Fat Lady on 02.19.18 at 12:55 am

YOU ONLY LIVE ONCE…..

Let loose, Live large and when you go broke…… take the bankers with you!!!!

#116 Today As Is Tomorrow on 02.19.18 at 12:59 am

Almost 2 months into B20 and Victoria, its surrounding communities, are not seeing any impact. Inventory is so low that houses languishing since the summer are still selling at ridiculous prices. There is no deluge of inventory; or price drops; and stuff no one wanted is selling for full price. And while some say that you have to wait six months, if the pre-approvals supposedly dried up on January 1st, then the impact should be seen within a few months.

An interesting side note is that houses that could not sell with ‘local’ realtors are now selling with those that specialize in international marketing like Sotheby’s and Volks and Engels.

People think that the Feb 20th provincial budget will somehow be a game changer and depress the market – it is not going to happen. For those waiting, this site already jinxed it as any proclamations here turn out to be the opposite.

And more importantly, the BC gov already said that it does not want to hurt hard earned equity (read boomer equity because real estate is their retirement plan); they know that a 25% correction would be a massive failure pinned on them; and they already said there will not be a foreign ban.

So onwards and upwards go prices throughout BC.

#117 Canadian Expat on 02.19.18 at 1:17 am

Scott sounds like he has lived a boring AF pennie counting life. Live a little Scott, enjoy yourself.

#118 Canadian Expat on 02.19.18 at 1:17 am

Penny rather

#119 Loomis on 02.19.18 at 1:21 am

@Martin9999 – If you drive a Benz and not an Audi, then you’d better make that part-time job a priority as Ranter recommended. If making your own coffee is pointless as you say, then by all means pick up some shifts at Tim Horton’s. The point of not wasting money on frivolous expenses was clearly lost on you, but very telling at the same time.

Wealthy people who stay wealthy (as in real liquid wealth and not home equity) appreciate the value of money and are not prone to mindless consumption. They don’t brag online about wealth or assets either.

#120 Midnights on 02.19.18 at 3:24 am

Finance Minister Bill Morneau has little room for new budget spending
http://business.financialpost.com/news/economy/trudeaus-finance-chief-has-little-room-for-new-budget-measures

#121 Cheekmonster on 02.19.18 at 4:30 am

Going forward renting might be the better route as things unfold and cause prices to go down (hasn’t happened much yet in the Burlington/Waterdown area).

But going backwards buying was the smarter way as the increase in value far outweighed the costs for most. Perhaps that was a once in a lifetime opportunity. Who knows.

Anyway, I think this guy took the long route to the financial freedom given the circumstances of those times.

#122 Al on 02.19.18 at 5:06 am

Scott is a mustachian. The Mission ladies outnumber the Scott’s 999 to 1.

“People make decisions by rote and instinct, not always with intellect and forethought.”

That’s prolly why.

#123 Big Bad Daddy on 02.19.18 at 5:18 am

DELETED

#124 Rooster™ on 02.19.18 at 5:25 am

#76 Rooster on 02.18.18 at 8:44 pm

#23 Raging Ranter on 02.18.18 at 4:58 pm
While I have only myself to blame, that city stole my youth. I was born there. What’s Scott’s excuse?
——————-
I had to laugh at this post. I have previously lived in Winnipeg for 10 years, it is hard to argue with any of those points!
*************

I never been to Winnipeg, but I been to Spain. I wish to report an identity theft.

“I made my break and a big mistake stealin’ when I should’ve been buyin'” Uriah Heep

#125 Rooster™ on 02.19.18 at 5:42 am

#86 Smoking Man on 02.18.18 at 9:27 pm
The exit continues . Smart money leaving before we go from socialism to communism.
**************

Canadian Socialists play the Russian Communists today @ 7 am on CBC.
An assured success will be followed by a crushing of the American Capitalists on Wed. @ 11 pm. Apparently, the previous triumph over tyranny was controversial because the Americans fired more shots. Don’t they always?

Go Canada!

#126 BillyBob on 02.19.18 at 5:43 am

#76 Rooster on 02.18.18 at 8:44 pm
#23 Raging Ranter on 02.18.18 at 4:58 pm

That’s all I can think of for now. I’m a native Toban. I grew up in the Interlake, and spent the first 15 years of my adult life in Winnipeg. While I have only myself to blame, that city stole my youth. I was born there. What’s Scott’s excuse?
——————-
I had to laugh at this post. I have previously lived in Winnipeg for 10 years, it is hard to argue with any of those points!

===================================

Oh, I dunno. I lived in the ‘Peg for a couple of years and thoroughly enjoyed myself. Great local cultural scene with live music – largely due to the “horrible isolation” alluded to. Cold in the winter, oh yeah. But blue skies most of the time, not depressing like the soggy west coast.

Friendly people…and the girls…ahhh, the girls…short summer, and man they would make the most of it. Temperatures come up, and suddenly everyone is basking in skimpy outfits out on the patios. Grand Beach, anyone?

I lived like a king on Corydon Ave, could never have afforded the equivalent in Shamcouver.

But ’tis the Canadian way to tear things down, I suppose, and find fault wherever possible. Must suck to be miserable like that wherever you go.

#127 Our pal val on 02.19.18 at 6:04 am

Go Feds go… 0.5% go your own way…. that should get Canada to sign the USA nafta deal

#128 Corduroy Rhodes™ on 02.19.18 at 6:27 am

#129 Mark on 02.18.18 at 2:10 pm
#104 Dow Jones on 02.18.18 at 1:13 am
“The TSX is a joke.”

The TSX hasn’t gone anywhere in the past decade due to the headwind of falling long-term interest rates and minimal inflation. But there’s reason to believe …..
************

Market to Mark

Low interest rates certainly haven’t kept the CDN banks from posting record profits, at least those willing to hose their own Grandma. The oil sector must be wishing rates were higher so their debt servicing could let them gracefully mothball their stalled projects. Our miners also love high rates and low commodity prices. Wood eye invest in lumber when all we can export tariff -free to the US is hockey sticks (and Victory)? Valeant’s bagholders must have realized that low rates were bad for the over-leveraged company.

“Reason to believe……
Standin’ over a dead dog
Like if he stood there long enough that dog’d get up and run” Bruce!

#129 I’m stupid on 02.19.18 at 7:14 am

I’d like to amend my statement regarding my portfolio. The total loss is 1.7%, in line with Garth’s statement a few posts ago.

#130 Big Bad Dad on 02.19.18 at 7:45 am

DELETED

#131 Rexx Rock on 02.19.18 at 7:55 am

Its Vancouver,my wife’s sister bought a condo a couple of years ago and has already made over $250,000.They go up because of high demand and a great economy in Vancouver.Wages are high in YVR or you wouldn’t see these price gains.If the economy turns south in Vancouver then we may even see a small decline in prices.

#132 Guess Who on 02.19.18 at 7:58 am

My own tale of woe.  I started out as an English major at UofT.  I wisely came to my senses, and moved to Manitoba where I switched majors, improved my employment prospects after graduation, and took full advantage of a relative lower cost of living, whilst enjoying the same standard I had in T.O.

—————-

I’m not sure I buy this story. Even an English minor would know that modifying the adjective “lower” requires the adverb “relatively”, not the adjective or noun “relative”. Unless he was living in his Aunt’s basement.

Proper adjective use is in decline everywhere. My father’s Canadian Forces used to be “Armed”. I wonder what today’s recruits are being issued ?

#133 NEVER GIVE UP on 02.19.18 at 8:17 am

#32 Who Knew on 02.18.18 at 5:32 pm
Is this really a surprise.

B.C.’s Attorney-General has pledged to crack down after an explosive investigation in the Globe and Mail uncovered what Vancouver journalist Kathy Tomlinson called Vancouver real estate’s “latest dirty little secret”: “shady money” from B.C. drug traffickers — funneled through property transaction loans and repaid to fentanyl suppliers in China.

The exposé by Tomlinson and Xiao Xu showed that some profits of the deadly fentanyl epidemic — which killed a record 1,422 British Columbians last year, 43 per cent above 2016 — are being laundered through the province’s skyrocketing real estate market.

Over roughly the same period, as opioid deaths began to jump in late 2014, property values also soared, pricing many locals out of the housing market. According to the Globe, at least “17 such lenders … have collectively claimed a $47-million stake, plus interest, in 45 Vancouver-area properties in recent years.”

Attorney-General David Eby vowed to get to the bottom of the allegations, and said that his government’s independent investigation by Peter German — an anti-laundering expert lawyer and former RCMP and Correctional Service deputy commissioner— could “explore what connection, if any” the allegations may have to real estate, casino crime and taxes as part of his casino investigation launched last fall.
===================================

1422 deaths due to China’s Fentanyl exports. Surely the government of China is turning a blind eye to this. Perhaps payback for the Opium wars Of the 1800’s. Still a sore point in China.

Our BC Liberal Government had full knowledge of this and the use of Property for money laundering.

The property bubble has also caused the non birth of hundreds of thousands of babies due to high living costs.

Ten years ago I would have laughed at you if you told me I would ever vote for the NDP, but so far it seems they are the only party trying to get to the truth.

If David Eby gets down to real business and if the party can deflate the housing bubble I will be a real supporter of NDP policy at least until they become corrupt like the Liberals.

#134 Jerry on 02.19.18 at 8:29 am

Babou: “What do you think Garth?

I think those who brag online probably have issues. – Garth”

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

Welcome to west coast Garth where we actually go online to brag about having 1.8 million dollars in mortgages.

All of this just as OSFI legislation kicks in and SFD sales are tanking.

Sorry Babou, just like the Seinfeld episode, things are not going to go well for you.

Oh, by the way, this is a real example of Vancouver speculators moreso than the "chinese" investor. Mind you the media and the real estate boards have done such a good job of "foreign buyer" hype that Horgan will be "crashing" this party.

#135 maxx on 02.19.18 at 8:31 am

Scott and his wife have minds of their own.
Without that trait, it is nearly impossible to become rich, as you are simply a lemming – putty in the hands of the marketing machine. Buy this today, replace that now.
I totally understand where this brilliant example of smart money management is coming from. They both realize that money doesn’t usually disappear in huge chunks from people’s balance sheets……it gets pi$$ed away slowly, invisibly, over long periods of time.

As Scott says, if you don’t get the deal you want – walk.

People holding wallets have the power, but so rarely make use of it.

#136 crowdedelevatorfartz on 02.19.18 at 8:34 am

@#120 Midnights
“Finance Minister Bill Morneau has little room for new budget spending…”
+++++

WHEN has that ever stopped a Liberal from taxing and spending more……?

#137 Victor V on 02.19.18 at 8:54 am

Real estate expo is coming back to Toronto to “teach” flipping and offer tips on becoming wealthy trading Bitcoin. The fools in attendance don’t stand a chance; lambs to slaughter…

https://realestatewealthexpo.com/toronto-2018

#138 Raging Ranter on 02.19.18 at 9:10 am

@ #84 Andre, Saskatoon is a dream compared to Winnipeg. I’d happily live in Saskatoon (but not Regina, AKA “Mini-peg”). Though I have to admit, I’ve never gone to S’toon during the winter. I’d imagine it can be trying.

@ #95 Martin9999, glad you picked up a part time job as a valet parking attendant. BONUS: You get to park so many nice vehicles. Last night a Mercedes was the highlight. Tonight will be something else. Well done. Don’t forget your thermos.

@ #126 Billybob, I’m not miserable anymore cuz I left Winnipeg in 2005. Still go back to Toba 2-3 times per year to visit family. Manitoba is Siberia with transfer payments. You’ll note that a few others have agreed with the points I brought up. None of them is an exaggeration. Most people who have lived in Dirtypeg know exactly what I’m talking about. Glad your experience was better.

#139 Wrk.dover on 02.19.18 at 9:17 am

#102 Re., Pete on 02.18.18 at 10:51 pm

House was bought for $264,000 . I bought just 2 yrs out of dental school .

Our house is worth over $1,000,000. Mortgage free. And if it drops to $700,000? I don’t care . We love our home . I don’t include our home in our retirement numbers

———————————————-

Same goes for my home of 38 years that cost a years income back then (plus 6 months of my time to build) , except the numbers and occupation. They don’t matter.

Nor do I include our paid off for 30 years, updated home in our net worth. Get it? I do!

Go rural.

#140 Wrk.dover on 02.19.18 at 9:19 am

Actually our net is the same as our gross.

#141 Another Deckchair on 02.19.18 at 10:14 am

Choice:

Sit in a Benz in traffic, or spend a month in Portugal walking, cycling, and just enjoying life.

Easy decision. Love to get down to 0 cars, but for now have 1 for the family. IMHO only Losers spend their day stuck in traffic.

#142 Stan Brooks on 02.19.18 at 10:20 am

http://business.financialpost.com/news/economy/trudeaus-finance-chief-has-little-room-for-new-budget-measures

1. Statement:
Finance Minister Bill Morneau is being told there is little additional fiscal space for new measures as he meets private-sector economists Friday to discuss the state of the Canadian economy ahead of the Feb. 27 bud.

Comment:

The honorable finance minister was told there is no money in the budget? I thought he was creating the budget as he is an expert/financial wizard/star.

Told by who, the drama teacher?

========================

2. Statement

Speaking after announcing the date earlier this week, Morneau said the budget would “continue to ensure that middle class Canadians are doing well” and include investments in research, science and skills training for what he called the “economy of tomorrow.”

REDUCING DEBT
Still, the Feb. 27 plan is likely only a placeholder for a more ambitious pre-election budget that should arrive at about this time next year. The constrained fiscal framework could pose a serious dilemma for Prime Minister Justin Trudeau’s government, which says it remains committed to at least reducing the nation’s debt as a share of gross domestic product.

“We want to continue to show Canadians that we can make those investments while reducing the amount of debt as a function of our economy,” Morneau told reporters Tuesday outside the legislature in Ottawa. “That will continue to be our anchor.”

Comment:
Investment? What investment? You mean inflation?
And he measures only federal debt. How about total debt?

So we grow credit constantly, there is higher multiplier between GDP (that includes debt) compared to FEDERAL debt growth as GDP includes debt /credit!

The more credit we get the more GDP ‘grows’ due to spending and the ratio declines!

If you measure TOTAL debt that grows by 300 billions a year while GDP ‘grows’ at 3-4 % with real inflation at least 6 % you get the real picture:
Ongoing inflationary depression for 10 years.

3. Which private sector economists is Mr Tax consulting and why am I not invited?
I have much better companies in my resume than Morneau Sheppel or even top Canadian banks.

4. Mr Tax did not mention declining saving rates:

https://tradingeconomics.com/canada/personal-savings

Record decline to 2.6 % from net income!

What investments if you have no savings and no foreign investments in this place?

debt is now called investment?

You need breakdown of the savings but I guarantee you that certain people save more and invest while the public/average Canadian goes deeper and deeper in debt.

Question: how can TSX perform when there is no money to go into the stock market as it all goes to serve ever increasing debt?

Answer: It can not.

So invest wisely, diversify and mind the registered plans, you might be growing nesting eggs for somebody else to spend.

4.

#143 Assuming your responsibilities on 02.19.18 at 10:25 am

Interesting how many identify with Scott. I believe many blog dogs do but we don’t hear from them as they dont spend much time blaming others for their shortcomings…. or come up with logic like « yeah but he lives in Winnipeg ».

#144 Stan Brooks on 02.19.18 at 10:45 am

Here it is:

https://www.ctvnews.ca/canada/canadians-record-debt-levels-have-resulted-in-record-net-worth-report-1.3508018

Canadians’ record debt levels have resulted in record net worth: report

Getting rich by spending more and more on credit.
Bhahahahahahahahahahahahahaaha

Of course assets are function of cost of money and the whole thing is a house of cards with the loonie most likely giving up first as there is no way rates are going higher.

Inflation at 6 %, around 10 lately (food inflation 15-20 %), but rates at 0?

Inflation, horrendous inflation is already here.

Hint: This is not Venezuela with at least nice weather where you can grow some food if needed.

This is a cold world where you get everything you eat from the store. Or the closest garbage bin.

#145 TurnerNation on 02.19.18 at 10:48 am

#86 Yes Smoking man here’s how it will go down in this post national de-industrialized tax slave farm:

1. Public sector unions – of course.
2. Banks and Insurance companies.
3. US owned retail stores…like Tim Hortons. Check any large mall, it’s all US chains.

– A KFC just opened in Leslieville (Queen/Greenwood), a Taco Bell deposed the legendary Hideout music venue QueenW.

4. The Kanadian price gouging Duopolists and billionaire families we know and love. You have freedom of choice…pick any one:

Bell/Rogers (I predict the Shaw Bros. will sell)
Loblaws/Sobeys
Air Canada/Westjet
Rexall/Shoppes Drugmart
Tim Hotons/SBUX

– Everything must change, any congregation will be subject to State communist rules like the old days. The Diversity Police will break down door into South Side Johnny’s or any watering hole and declare it as lacking in diversity. Everybody out, papers pleeze.

#146 chumpy le chump on 02.19.18 at 10:49 am

If you take 1 thing from Scott’s story, make it this: choose your spouse wisely. Do not let emotions into the decision making room. If their values regarding money do not align with yours, do not marry them. Everything flows from money. You have problems with money, you’ll have problems in every other area of your life.

#147 IHCTD9 on 02.19.18 at 10:57 am

#47 I’m stupid on 02.18.18 at 6:11 pm
————

Excellent.

Definitely not stupid.

#148 TurnerNation on 02.19.18 at 10:58 am

T:MSI – MORNEAU SHEPELL INC stock price is breaking out.

#149 LivinLarge on 02.19.18 at 11:01 am

“As Scott says, if you don’t get the deal you want – walk.”…should be the new “Golden Rule”.

We used to call it the “Silent Close”. Just keep your mouth shut after a first offer…the seller (of almost anything) will come back with a sharper pencil if you simply go silent.

Worked today on a roof quote. Estimate done Thursday and I just went silent and they came back with a 20% discount. Certainly helps that the subtrades market has gone totally dry right now too.

#150 conan on 02.19.18 at 11:14 am

Reasons to live in Winnipeg # 345

No need to tell your kids to wear their hats and gloves in Winnipeg. Yes, its that cold.

https://www.youtube.com/watch?v=58cmO-XuMmI

#151 For those about to flop... on 02.19.18 at 11:20 am

Jumpin’ Jack Flash…

M43BC

“This Map Shows How Gas Taxes Determine the Price at the Pump.

Americans are back to purchasing large SUVs and trucks instead of passenger cars, fueled in large part by confidence in the U.S. economy. And with President Trump set to unveil a broadnew infrastructure plan with a rumored $200 billion price tag, now would be a good time to review the current levels of gas prices and taxes around the country. That’s why we created our new map.

We gathered the data from a couple different places—we found average gas prices from AAA.com and tax information from API.org. We combined both datasets to color-code each circle on the map, representing how expensive a gallon of gas costs on average in each state. Dark blue circles indicate expensive prices over $3.00/gallon, and light blue indicates cheap fill ups under $2.50/gallon. Then, we added a second circle to represent both the state and federal taxes levied on gas. This approach transforms the complicated reality of energy taxes into an easily understandable map.

Several interesting trends are readily apparent. First off, the federal gas tax comes out to 18.4 cents on the gallon sold in every state. The amount was last adjusted 25 years ago in 1993, back when a gallon cost about $1.06. And since the federal gas tax is not pegged to inflation, gas could cost $10.00 a gallon and the feds would still only collect 18.4 cents. This situation might change as Congress and President Trump negotiate an infrastructure spending deal, but who knows? For now, total taxes only change on our map from one state to another based on that particular state’s laws.

There are two clear regions with high gasoline prices in the Northeast and across the Midwest. Hawaii ($3.34) and Alaska ($3.08) are outliers in the dataset because of their extreme distance from the continental U.S. Hawaii has a relatively high total tax burden of $0.64 built into its price, but Alaskans pay the lowest rate in the country of $0.31/gallon, of which only 12 cents goes to the state government. That’s extraordinarily low because Alaska is one of the top oil-producing states, and the government already collects so much money directly from oil companies that it actually pays its citizens every year. Anyway, there’s also a group of light blue states across the South, where the tax burden is low and the price at the pump is relatively cheap. The least expensive state in the country is Texas, where it costs only $2.28. That’s right, gas is cheaper than a gallon of milk ($2.33) in six states—Arkansas, South Carolina, Mississippi, Missouri, Alabama and Texas.

All of this indicates how state and federal gas taxes are the primary reason why it costs more at the pump in some places than others. Take California for example. The state is obviously in a league of its own regarding taxation. The average cost for a gallon is $3.18, of which 22.6% goes to the state and federal governments. That tax represents $0.72 of the price for every gallon. In neighboring Arizona, the tax burden is only $0.37 on the gallon, and the average overall price is consequently much cheaper at $2.35 per gallon. It’s simple—the more something is taxed, the more it costs.

Top 10 States Where it is Most Expensive to buy a Gallon of Gas
1. Hawaii: $3.34 and $0.64 for taxes

2. California: $3.18 and $0.72 for taxes

3. Alaska: $3.08 and $0.31 for taxes

4. Washington: $2.94 and $0.68 for taxes

5. Oregon: $2.83 and $0.55 for taxes

6. Pennsylvania: $2.82 and $0.77 for taxes

7. New York: $2.69 and $0.63 for taxes

8. Connecticut: $2.68 and $0.58 for taxes

9. Nevada: $2.68 and $0.52 for taxes

10. Michigan: $2.64 and $0.61 for taxes

If President Trump proposes an increase in the federal gas tax, people living in these states are likely to feel it the most. They are already paying more than anyone else to fill up, and an increase in the federal tax will only make the situation worse. A better solution might be to peg the federal gas tax to inflation so that it rises and falls in tandem with the broader economy. This option would remove the issue as a hot-button political debate and ease the pain people feel when they hit the road.”

https://howmuch.net/articles/gas-prices-and-taxes

#152 IHCTD9 on 02.19.18 at 11:26 am

#103 Mark on 02.18.18 at 10:51 pm

…every second house the smell that emanated changed from turkey to curry.

I personally prefer eating the latter, not the former
————

You eat straight curry?

Man that’s nasty!

#153 Smoking Man on 02.19.18 at 11:30 am

The best hang over.

You try to spit and there is none. The wife says . No more smoking man. You try and book yourself into the Stillwater treatment centre in Welland
and discover no vacancy till June.

Life is all I’m saying.

#154 Walkin' back to Georgia on 02.19.18 at 11:45 am

#35 Stan Brooks on 02.18.18 at 5:42 pm
#34 gfd …..

There is no doubt, the elite in this place will reap what they saw. And it will not be pretty.
———_-

Hey Stan, if you have the time, watch this new exposé on Little Potato’s other illegitimate half-brother. It might cheer you up!

“The Trader (Sovdagari)” on Netflix
http://www.netflix.com/title/80209006

#155 Penny Henny on 02.19.18 at 11:46 am

Hey Stan Brooks this one is for you.
My dog is reading a book on FBI profilers so I thought I would ask him to read through a few of your comments and this is what he came up with on you.
-mid 50’s
-cuacasian
-divorced
-moved out of Canada after ex wife kicked you out of the house
-out of work
-small inheritance after parents passing
-lives alone
-no friends, basically a loner

and here is the worst part
-cat lover
n

#156 Stan Brooks on 02.19.18 at 11:48 am

#145 TurnerNation on 02.19.18 at 10:48 am

Shoppers drug mart was bought by Loblaws in 2013.

RBC gave their friends 6 billion loan for that.
The deal was arranged in a van.

As a result in many neighborhoods/plazas you have clear monopoly, in addition shoppers started marketing increasingly PC products.

What did competition bureau say?
No problem. In kanadah monopolies are fine. we work for them.

#157 Damifino on 02.19.18 at 11:49 am

#132 Guess Who

Proper adjective use is in decline everywhere.
———————————

I agree adjectives should be used properly, but more importantly, their use should be minimized. Peppering prose with too many adjectives is the hallmark of weak writing. It’s bad a habit left over from the days when authors were paid by the word.

They get paid? – Garth

#158 Smoking Man on 02.19.18 at 11:50 am

Joggers trying to run away from death. Idiots is all I’m thinking.

Better to face the animal with a smoke dangling from your mouth and an empty micky of JD in your back pocket.

Eyes wide open. Flip it the bird and say bring it bitch.

Every time I do that. Deaths tail goes down and it runs way.

#159 Old Ron the Realtor on 02.19.18 at 11:53 am

YIKES !!! Real Estate Expo coming to Toronto. Last time they showed up the market crashed 20%.

Real live actors. Its like Comic-Con without the Star Wars costumes.

#160 Penny Henny on 02.19.18 at 11:55 am

#153 Smoking Man on 02.19.18 at 11:30 am
The best hang over.

You try to spit and there is none. The wife says . No more smoking man. You try and book yourself into the Stillwater treatment centre in Welland
and discover no vacancy till June.
——-

Let me know when you get here. I’ll meet you at the Rex for a beer. Great pizza there too.

#161 Stan Brooks on 02.19.18 at 11:56 am

#155 Penny Henny on 02.19.18 at 11:46 am
Hey Stan Brooks this one is for you.
My dog is reading a book on FBI profilers so I thought I would ask him to read through a few of your comments and this is what he came up with on you.
-mid 50’s
-cuacasian
-divorced
-moved out of Canada after ex wife kicked you out of the house
-out of work
-small inheritance after parents passing
-lives alone
-no friends, basically a loner

and here is the worst part
-cat lover
n

——————————-

Nice attempt (for character profiling/attack when you have nothing to say to arguments), except wrong on all accounts.

Your friend need a better read, that FBI agent is a fraud.

BTW I enjoy such attacks :)
You prove that I am worth reading.

#162 A J on 02.19.18 at 12:04 pm

I think there is such a fine line between living a frugal life, and letting frugality run your life. I think you can live within your means, but still enjoy life. It’s all about priorities. If you enjoy travelling, then maybe rent and travel. If you’re a homebody, spend all your extra money on your home. There’s no one-size-fits-all approach. But, we’ve been sold the idea that there is. And people feel that they need to impose their ideas on everyone else. Do whatever you want. The key is to figure out what that is. Instead of listening to friends, family, the media, etc, really sit down and figure out how to make your best life. THEN, live within your means to achieve it. The mistake a lot of people make is taking the path of everyone around them. Make your own path. And don’t expect to live to be 100. Live your life now and everyday, within your means, but in a way that makes you truly happy.

#163 Stan Brooks on 02.19.18 at 12:06 pm

#160 Penny Henny on 02.19.18 at 11:55 am
#153 Smoking Man on 02.19.18 at 11:30 am
The best hang over.

You try to spit and there is none. The wife says . No more smoking man. You try and book yourself into the Stillwater treatment centre in Welland
and discover no vacancy till June.
——-

Let me know when you get here. I’ll meet you at the Rex for a beer. Great pizza there too.

=========================

So you live in Welland?
Great place, center of the universe. Is the lake frozen?

Great pizza, in Canada?

Sigh.

Your IP is Bulgaria. I’s 3 there today. – Garth

#164 Penny Henny on 02.19.18 at 12:19 pm

#161 Stan Brooks on 02.19.18 at 11:56 am

Nice attempt (for character profiling/attack when you have nothing to say to arguments)
////////////////////

That is all you are Stan.
One big argument.
No wonder you have no friends

#165 Trojan House on 02.19.18 at 12:38 pm

Doesn’t say whether he has kids or not. Pretty easy to save when you don’t have kids.

I also don’t think buying a coffee is going to break the bank. However, what people never talk about is the money they spend on lottery tickets! It seems for most people that is their retirement account. How many times have we been in line at the check out counter behind someone checking their 50 lottery tickets?!!! Talk about frustrating. How much did they spend? And then with their $20 in winnings they buy another 60. You ain’t gonna win. You have a better chance of getting hit by lighting. I’m sure people spend $100s each month on lottery tickets. If only they took that money and started investing. At least you give yourself better odds at having money for retirement.

#166 IHCTD9 on 02.19.18 at 12:48 pm

Lots of good posts here today.

Scott has it figured out. Youth is for working, making plans, and executing. You don’t want to start making sacrifices and working OT when you’re 50 years old.

That’s not to say you need to live a “boring” life when you’re young, I don’t see a connection between spending boatloads of money and having fun at all.

In my case, a lot of what I consider “fun” actually makes, and saves me a ton of cash. I like working on my house, building decks, renovating etc… I like working on old heavy equipment, and that stuff actually sells for big bucks if everything works and is in good shape. I can drive for near free thanks to being a car enthusiast my entire adult life. My hobbies and interests have left me with just about zero maintenance or repair issues that I can’t handle myself.

I enjoy road trips up north, ATV’ing, and fishing. The ATV’s are really the only “expensive” fun that I have. I’ve always fished off the shore, but I may splurge on a 12’ Jon boat and a 5hp motor this summer and try my luck with trolling. What’s important is all my toys were bought used, with cash; and all were awesome deals at the time.

Having a pile of money saved up drastically ups your quality of life. No fear about job loss, no stress over debts, or expenses (which you kept low). No worry’s about your car blowing up. No anxiety over what happens at retirement. A big pile of cash allows you to help others in need, whether that’s looking after your aged parents, or helping the guy down the road who needs a new roof. Helping others who really need it is more “fun” than spending on yourself. Dollars also equal extended independence when you are elderly, and no stress for being a burden on others.

Having no fear allows you to concentrate on the good things in life – which are mostly free. You can live a full, content, “fun” life in your youth, even while setting yourself up for the future.

#167 Stan Brooks on 02.19.18 at 12:48 pm

Your IP is Bulgaria. I’s 3 there today. – Garth

Absolutely, this is where my proxy is.

Tomorrow will be Italy.

#168 Stan Brooks on 02.19.18 at 12:50 pm

Or Russia/meddling with elections?

#169 IHCTD9 on 02.19.18 at 12:55 pm

#162 A J on 02.19.18 at 12:04 pm

…Instead of listening to friends, family, the media, etc, really sit down and figure out how to make your best life. THEN, live within your means to achieve it. The mistake a lot of people make is taking the path of everyone around them. Make your own path. And don’t expect to live to be 100. Live your life now and everyday, within your means, but in a way that makes you truly happy.
———

Excellent

#170 Stan Brooks on 02.19.18 at 12:57 pm

I am in Germany now

#171 Stan Brooks on 02.19.18 at 12:57 pm

Now in US/using hyperloop

#172 april on 02.19.18 at 12:59 pm

$131 – realtor spin.

#173 april on 02.19.18 at 1:01 pm

#116 – clueless

#174 New NDP Supporter on 02.19.18 at 1:05 pm

Globe investigation into money laundering in B.C. real estate will lead to new rules, AG says

Vancouver Metro ‘Narconomics and its tentacles’: B.C. vows crackdown on fentanyl-real estate laundering

What on earth were the BC Liberals doing while this was going on? Oh yea getting rich on Real Estate…ethics matter 1400 dead in BC alone from fentanyl I will never vote BC Liberal again. NEVER.

#175 akashic record on 02.19.18 at 1:11 pm

#163 Stan Brooks on 02.19.18 at 12:06 pm

Your IP is Bulgaria. I’s 3 there today. – Garth

===

Bulgarian interference with Canadian minds.

#176 Penny Henny on 02.19.18 at 1:30 pm

#167 Stan Brooks on 02.19.18 at 12:48 pm
Your IP is Bulgaria. I’s 3 there today. – Garth

Absolutely, this is where my proxy is.

Tomorrow will be Italy.
//////////////////

What is with the proxy Stan.
Are you using it cause Garth had previously banned you when you were posting as Euro Observer

#177 Stan Brooks on 02.19.18 at 1:38 pm

#175 akashic record on 02.19.18 at 1:11 pm

Bulgarian interference with Canadian minds.

Sure. I will take that.

=================

#176 Penny Henny on 02.19.18 at 1:30 pm

What is with the proxy Stan.
Are you using it cause Garth had previously banned you when you were posting as Euro Observer

==================

Not really/posting as Euro Observer.

#178 Victor V on 02.19.18 at 1:42 pm

#156 Stan Brooks on 02.19.18 at 11:48 am
#145 TurnerNation on 02.19.18 at 10:48 am

Shoppers drug mart was bought by Loblaws in 2013.

RBC gave their friends 6 billion loan for that.
The deal was arranged in a van.

As a result in many neighborhoods/plazas you have clear monopoly, in addition shoppers started marketing increasingly PC products.

What did competition bureau say?
No problem. In kanadah monopolies are fine. we work for them.

====================

No need to feel victimized by the perceived inequities of our economic system.

Buy shares in RBC, collect the dividends and watch your money pile grow. And if you don’t like keeping the profits, donate them to charity.

#179 Stan Brooks on 02.19.18 at 1:57 pm

#154 Walkin’ back to Georgia on 02.19.18 at 11:45 am
#35 Stan Brooks on 02.18.18 at 5:42 pm
#34 gfd …..

There is no doubt, the elite in this place will reap what they saw. And it will not be pretty.
———_-

Hey Stan, if you have the time, watch this new exposé on Little Potato’s other illegitimate half-brother. It might cheer you up!

“The Trader (Sovdagari)” on Netflix
http://www.netflix.com/title/80209006

===================

Nice movie.

But this is my favorite one:

https://www.netflix.com/watch/80075560

#180 Howard on 02.19.18 at 2:01 pm

Wow. Nice one, Vancouver. Pathetic.

Vancouver criticized for boasting about low pay of its tech workers in Amazon HQ bid

http://nationalpost.com/news/canada/city-of-vancouver-criticized-for-boasting-about-low-pay-of-its-tech-workers-in-amazon-hq-bid

#181 SoggyShorts on 02.19.18 at 2:12 pm

#169 IHCTD9 on 02.19.18 at 12:55 pm
#162 A J on 02.19.18 at 12:04 pm

…Instead of listening to friends, family, the media, etc, really sit down and figure out how to make your best life. THEN, live within your means to achieve it. The mistake a lot of people make is taking the path of everyone around them. Make your own path. And don’t expect to live to be 100. Live your life now and everyday, within your means, but in a way that makes you truly happy.
———
Excellent

***********************************
But there are some things that do fit everyone that are just basic math that many people miss.
For a very basic example:
I’ve seen a couple at a fast food place each order Combo #2.
Smarter would be to order 1 combo, and supersize it for $1, and get a second burger, no combo.
Same amount coke, same amount of fries, $3 savings.

Obviously brown bagging it is even smarter, but the point is that even if some “frivolous” spending is what makes you happy, you can still do it in a smart way.

Like I posted above at #104, almost everyone buys things made in China, so why not order it from China? Maybe they want to support BestBuy and pay their 60% markup?
That goes for everything from major electronics to cellphone cases. The exact same $30 case is $4 on Ebay shipping included.

#182 Howard on 02.19.18 at 2:31 pm

A lot of Winnipeg-bashing here today. A very underrated city imo (and no I’m not from there). Has a very good arts, culture, and restaurant scene for a city of its size. Horrible winters but absolutely gorgeous spring and summer. Lots of lakes nearby. Yeah there are mosquitos, whatever.

I also quite enjoyed Saskatoon when I visited there for work ten years ago (in winter no less!).

Regina though….that was depressing and dumpy. Perhaps it’s improved since then.

#183 MF on 02.19.18 at 2:33 pm

Your IP is Bulgaria. I’s 3 there today. – Garth

-ouch

MF

#184 maxx on 02.19.18 at 2:51 pm

#14 Martin9999 on 02.18.18 at 4:27 pm

” “ I can make own coffee (still do) for pennies a cup.”

To save 15k thats 10,000 coffes

1 coffee per day / it will take you around 30 years to save that kinda cash (inflation not calculated)

Sad thinking !!”

Not really…..Scott didn’t say that he NEVER goes out for coffee. He likely does, but in a mindful way that make the spend far more enjoyable because the routine nature of rote spending has been stripped away.

Plus, and of more important note, coffee out is only one line item in the hundreds of purchasing decisions we all make on a daily/weekly basis.

Scott knows………….it all adds up………. to BIG money and is all about choices.

Not sad at all, quite the contrary, they’re the ones sipping cocktails on the top deck in January – rather than………just having coffee out.

#185 cramar on 02.19.18 at 3:00 pm

I’m glad that there are still people like Scott and his squeeze around who have a sane approach to finances. At least not everyone is bonkers these days!

Thanks for sharing, Scott.

#186 Doug in London on 02.19.18 at 3:18 pm

@Assuming your responsibilities, post #143:
You’re one of the few commenters here who’s got it right. I see it a lot here, when someone shows some measure of success at getting their finances in order there are negative comments like, as you said: yeah but he lives in Winnipeg, or comments about how they somehow got their wealth by some unfair advantage. By sharp contrast, read the comments to postings on mr.moneymestache. Comments there are more like congratulations on your success and confidence that they too can be successful with the right choices. I think it’a a Canadian vs American thing. When most Americans see success, they think of how they too can be successful and take action to do so. By contrast many Canadians blame someone else for their lack of success, usually the government, and come up with excuses about how they can’t improve their lot in life.

#187 LivhLarge on 02.19.18 at 3:21 pm

“Smarter would be to order 1 combo, and supersize it for $1, and get a second burger, no combo.”…well gee wizz, that’s a bit like debating whether to use a 12 gauge or 20 gauge to commit suicide. Skip the fast food joint entirely is the “correct” answer Alex.

#188 Capt. Serious on 02.19.18 at 3:22 pm

You know, this is really a fancy way to say:
Income > expenses = happiness.
Income < expenses = unhappiness.
Income <> expenses, yes you can afford to buy coffee out. Just get real coffee, not that Tim Horton’s [email protected]#t. Discretionary spending is, by definition, discretionary. People like different things. We shouldn’t expect everyone to follow the same formula.

#189 A J on 02.19.18 at 3:26 pm

#186 Doug in London

Please don’t generalize. There are people from all over the world commenting on every blog. Because a few people make negative comments, now all Canadians are pigeonholed? What makes you any better than those posting negative comments, when you make a comment like that?

Enough.

#190 mark on 02.19.18 at 3:28 pm

DELETED

#191 Martin9999 on 02.19.18 at 3:28 pm

Yo #119 Loomis on 02.19.18 at 1:21 am

So , buying a coffee at tim hortons is a waste of money and the only way how to be wealthy is yo save money

What in the heck is the matter with ppl now days

#192 TurnerNation on 02.19.18 at 3:30 pm

Forgot the Labatt/Molson brewing duopoly and strangle hold over ON’s distribution system.

They bought TO’s Mill St. brewery I gave up on it.
A new Cider pub to open on Queen St e. Labatt owns that brand too.
Enjoy Komrade Lager?

Starve the Beast. There is amazing local brews from Railway City, Napanee and Collective Arts breweries.

#193 Bearahead on 02.19.18 at 3:32 pm

#116…. read “ house hunt victoria”..your ideas about the market in yyj are not accurate … sells down 25% …
Price drops… Victoria is not immune

#194 A J on 02.19.18 at 3:39 pm

I just wanted to add to what I said before….

The pressure to own a home is insane, at least in my life. Sometimes I wonder if people are just trying to make conversation, or if they really are trying to impose their deep obsession with real estate onto me. My parents obsessed over our house my entire life. Put every last cent they earned into it. That was their choice and I never judged them for it. But it eroded my Dad’s health. He worked seven days a week to afford that house. Right up until a week before he died. He was stage 4 cancer and he wouldn’t take a day off, because he had to keep paying that d*mn mortgage. I tried to persuade him to stop working, but it was house, house, house. I understand it, I do. Bills don’t stop coming because you have cancer. But what a difference savings would have made. The house was and is their entire savings. My Mom sits on it like it’s a pile of cash. But it doesn’t mean anything if you haven’t cashed in. And it doesn’t mean anything when you’re no longer here. My Dad never got a retirement. There were a lot of things he wanted to do, but he dedicated everything to our house. I will never, ever allow myself to be shackled to a mortgage like that. No one should allow themselves to be.

Every time I’m with friends and family, the house topic comes up. And the questions. “Why haven’t you bought yet?” And when I say I never want to own a house, their eyebrows perk up like they’ve seen a ghost. I have different priorities. Different wants. And I refuse to let other people’s opinions encroach on what’s important to me. I wonder though whether a giant mortgage is really what they want. Or if they bought into this idea or home ownership as well. Friends remark on how stretched they are financially, and how they wish they could travel like I do. While they pay down $500,000 mortgages in the suburbs and commute in blizzards an hour to work.

Life doesn’t need to be so difficult and stressful. You just need to know what you want, and be smart with how you spend your money. If you cannot afford a house, don’t take the weight of a giant mortgage on your shoulders. Don’t buy into the FOMO and the pressure.

Life is too short to end up like my Dad. Enjoy your life. Live below your means. Don’t just become another cog in the societal wheel.

#195 Stan Brooks on 02.19.18 at 3:41 pm

#183 MF on 02.19.18 at 2:33 pm
Your IP is Bulgaria. I’s 3 there today. – Garth

-ouch

MF
================

Oops is more appropriate.

I am not mating with you.

#196 NoName on 02.19.18 at 3:52 pm

if you people ever wonder what drove FF of comments cliff…

#99 Freedom First on 06.14.17 at 3:44 am
#58 MF
MF. Think creative. Think Positive. Think solutions. Think responsibly. Kill self-pity, expectations, entitlement, negativity and ya-buts. It’s your mind. It’s up to you.
I’m really not all that bright, but living by sound principles in every area of my life has worked and is working well for me. I had to do my homework.
Circumstances(excluding some disabilities) can always be overcome. I refuse to give up.
Plus, I’m tired of your whining.
Freedom First
Master of Freedomonics

but on a side note, when come home this morning I found wife reading her morning news of Bloomberg, she rarely ventures of yahoo news, knowing who is her husband, yahoo seems appropriate.

First article that I sow he reading was this, and by the time I came back with cellphone to grab a pic she switched on to this.

#197 Stan Brooks on 02.19.18 at 3:54 pm

#194 A J on 02.19.18 at 3:39 pm
I just wanted to add to what I said before….

The pressure to own a home is insane, at least in my life. Sometimes I wonder if people are just trying to make conversation, or if they really are trying to impose their deep obsession with real estate onto me. My parents obsessed over our house my entire life. Put every last cent they earned into it.

—————————-

It is part of the brainwashing.
If you are different you do not belong.
While talking about diversity and tolerance.
It is called hypocrisy.
They need chicken in the farm, nor critical thinkers.

#198 n1tro on 02.19.18 at 4:03 pm

Would someone please tell the UN that they are investing in a ponzi, a fraud, something that has no intrinsic value!

https://www.ccn.com/banks-begone-uns-world-food-programme-builds-ethereum-blockchain-money-transfers/

So just who will be mining to verify all these food programme money transfers I wonder since the tokens coming from mining/verifying are worth “nothing”?

#199 Graeme on 02.19.18 at 4:07 pm

#133

China is NOT turning a blind eye to their criminals who have taken refuge over here. They want them BACK. It’s one of the sticking points to implementing a trade agreement. Canada won’t send them back because we don’t have an extradition treaty with China. And we don’t have that treaty because they have a death penalty.

But wait….where there are drugs involved, surely the drug kingpins in the lower mainland could be arrested by our own police. Uhhhhh…no. The CBC article mentions that the police have known for YEARS who the kingpins are and haven’t arrested anybody. If it was, say, a year, and they were using these big fish to trawl for ever more fish as part of a major sting operation, maybe it would be understandable.

When you have this degree of criminality, you know the fish rots,from the head down. Every branch of government is ” turned” the police become dirty.

As the dead bodies pile up, and real estate launches through the roof, those of us who made the connection some time ago are called bigots.

This is a perfect storm of sophisticated international crime working in concert with easily corruptible governance, while those who aren’t naive are harangued as being ‘racist.’ Enough!!

#200 Martin9999 on 02.19.18 at 4:13 pm

To #184 maxx on 02.19.18 at 2:51 pm

I hope scott has bought that cocktail that he is sipping on sale. It adds up you know

This is insanity at its best. Capitalism truly works

#201 akashic record on 02.19.18 at 4:13 pm

#178 Victor V on 02.19.18 at 1:42 pm

No need to feel victimized by the perceived inequities of our economic system.

Buy shares in RBC, collect the dividends and watch your money pile grow. And if you don’t like keeping the profits, donate them to charity.

===

The voice of a concerned Canadian about the role of competition in Capitalist economy.

#202 Martin9999 on 02.19.18 at 4:17 pm

To #138 Raging Ranter on 02.19.18 at 9:10 am

Wow . How did you know that i work valley parking.

Was that benz yours that i just parked ?

Thx for the tip tho

#203 Hamsterwheelie on 02.19.18 at 4:19 pm

Well – being a renter for 10 years allowed me to save – not to buy more than I could afford but 6 years ago, to use as a downpayment on a gorgeous 3 bed Victorian home – in a city, with jobs and an economy- for $165,000 and we negotiated that down from the list price of $180 000. Then we bought 3 more. Now we are building 4 brand new units inside an 1800’s house downtown – making 1 unit for my dad, 1 for us, a long term 2 bedroom rental and a 1 bedroom short term rental. We own the house across the street and live in one big unit while building the other 4 & renting out the upstairs to great tenants with good jobs. We sold 2 houses to finance our own construction and when all is finished will have a combined mortgage of $300 000 with income of $5200 per month while still lightly working and thats if my dad lives for free and can’t contribute financially. The hardest part is convincing dad to let go of a house on a lake 4 hours from us that is costing him large and he has no income (so is living on a line of credit) I feel like telling someone that they can live downtown, walk to everything, enjoy live music and good company in a thriving city should be enough but that need to hang onto a house at any cost seems to hang many – financially speaking. I have never understood the need to buy something that doesn’t bring in a ROI – including new cars, pickup trucks, McMansions, jet skis & hot tubs. If you’re out at sea and something was weighing you down, you’d toss it overboard- same goes for relationships and other investments. Even someone with no financial education, earning $20,000 a year like me can figure this out – must be human nature or bad habits or fear of change / choosing your own path that gets in tge way of folks having easier lives – certainly I can’t claim to understand people buying homes for over a million dollars unless they have crazy high incomes.

#204 A J on 02.19.18 at 4:23 pm

#197 Stan Brooks

Yes, exactly. It’s hard to block out the pressure sometimes. It makes you second guess yourself and your focus when people are constantly obsessing over home ownership. It makes you think, “what do they know that I don’t?” But you just have to keep reminding yourself that you are making the decisions you are based on a lot of thought and research. And that a lot of others are making decisions based on emotion. Emotion will get you into a lot of trouble in the long run. It’s best to separate that from decision making, or you’re bound to make mistakes. (And I say this from the perspective of someone who in order to own a home, would have to go into debt for the rest of my life to pay off my mortgage. If houses were cheaper, I might make a different decision. But around here, houses will set you back $500,000 – $1 Million. Letting emotion lure you into that much debt is a disaster waiting to happen.)

#205 Stan Brooks on 02.19.18 at 4:36 pm

#204 A J on 02.19.18 at 4:23 pm

Do not base you safe esteem on the opinion of the crowd.

As George Carlin said: The average american is pretty dump and it is scary that 50 % of the people are actually dumber.

—————————

#201 akashic record on 02.19.18 at 4:13 pm
#178 Victor V on 02.19.18 at 1:42 pm

No need to feel victimized by the perceived inequities of our economic system.

Buy shares in RBC, collect the dividends and watch your money pile grow. And if you don’t like keeping the profits, donate them to charity.

===

The voice of a concerned Canadian about the role of competition in Capitalist economy.

———————

Exactly.

There are sins and sins but conformance and dishonesty are probably some of the biggest sins

God delays but does not forget.

#206 Stan Brooks on 02.19.18 at 4:37 pm

self esteem damn it.

#207 NoName on 02.19.18 at 5:11 pm

#199 Graeme on 02.19.18 at 4:07 pm

cina is one funny country, if I say china is melting north pole I would sound like crazy guy, and I agree with that, but I I say china will benefit the most from and when north pole being melted to the oblivion doesn’t sounds that crazy. I don’t subscribe to conspiracyes but carbon tax got me going bit in that direction.
when commies cripple us economically with flooding chep and gov. subsidized garbage, they invest in what ever is of interest to them and influent policy economically. that they are looking to repatriate money form is funny, they are sending money same as, sa sending funny brain washed and indoctrinated people…

never trust communist
http://thehill.com/policy/international/china/374485-axios-us-and-chinese-officials-scuffled-in-beijing-over-nuclear?amp

big melt
part1
https://www.bloomberg.com/graphics/2017-arctic/
part2
https://www.bloomberg.com/graphics/2017-arctic/the-political-arctic/
part3
https://www.bloomberg.com/graphics/2017-arctic/the-economic-arctic/

how’s that crazy?

#208 Newcomer on 02.19.18 at 5:26 pm

#165 Trojan House on 02.19.18 at 12:38 pm
…However, what people never talk about is the money they spend on lottery tickets!
—–

With state-run lotteries like ours, ticket sales are a direct tax on stupidity.

#209 Newcomer on 02.19.18 at 5:44 pm

#181 SoggyShorts on 02.19.18 at 2:12 pm
….
Same amount coke, same amount of fries, $3 savings.

Obviously brown bagging it is even smarter, but the point is that even if some “frivolous” spending is what makes you happy, you can still do it in a smart way.
——–

You are missing the point of frivolous spending. The act of just getting what you want, without counting the pennies, has an empowering and relaxing feel to it. For many people, that is the main point of recreational shopping, for example. If you are feeling poor and powerless, dividing up a supersized meal at McDs will not float your boat. Money serves many purposes, acquiring goods and services is only one of them.

Interestingly, people who have fat stacks in the bank, not only don’t feel the need to use money in this way, but generally don’t get as much of a kick out of it. If they want to feel rich, they can just check their balance.

#210 maxx on 02.19.18 at 9:34 pm

#200 Martin9999 on 02.19.18 at 4:13 pm

“To #184 maxx on 02.19.18 at 2:51 pm

I hope scott has bought that cocktail that he is sipping on sale. It adds up you know

This is insanity at its best. Capitalism truly works”

Cute….not as a matter of course on cruise ships, but freebie champagne can be scored at shipboard art auctions and at the captain’s cocktail.

Capitalism does work, but people don’t need to spend beyond every cent they’ve got keeping the charging bull well fed.

#211 Doug in London on 02.20.18 at 12:23 pm

@AJ, post #189:
As I said, how do you explain the more positive comments on the blog mr moneymustache ? About 4 years ago I had the opportunity to hear David Chilton, author of The Wealthy Barber and more recently The Wealthy Barber returns. Tell me, have you ever heard of David Chilton? One thing he said was that Canadian’s favourite pastime is complaining, so I’m not the first to make that observation and probably won’t be the last either. Many times on this blog, in response to the bitching and whining, I’ve said that I believe I won the lottery by being born here in this great country.

About 2 years ago I struck up a conversation with the attendant who obviously had roots in India at a gas station in Toronto. I asked what his first impressions were and he said something like: Canada appears to have a good stable government and you’ll do fine here if you’re willing to work. Wow, I wish I heard more born and bred Canadians say something like that.

#212 Maybe on 02.20.18 at 1:14 pm

Garth- I so wish you had thrown your hat into the provincial PC race.