Dr. Garth

Time to abandon the rebel forces of the Alberta Secessionist & Expeditionary Army before the RCMP hammers down the blog’s nice oak door. The last two days prompted Bandit to go out and buy one of those little armoured police dog vests. He wanted a helmet too, but there’s a limit…

Alberta’s long-term future in Canada may be more secure than Mr. Trudeau’s, so everybody should probably take a red pill and chill. In the meantime, let’s turn to some First World problems posed by people who show no inclination to mug a Quebecker.

“Short time reader (~6 months), love the dog pictures, and my favorite posts are definitely your doctor is in, particularly when you skewer someone for not following the advice you give weekly, “ writes Vancouver Millennial (what else?), another of those rich kids everyone hates.

My wife and I live in Vancouver aged 34 and 33. We have stable jobs; I make 130k and she makes 85k (w/pension). We have ~600k in assets split 70/15/15 between a variety of ETFs, fixed income and cash. About half is in non-reg accounts. We save 60k/yr that goes into TFSA/RRSP, but a lot of that is because our rent is a reasonable 1200/mo.

Now: My wife is now pregnant and that rent friendly apartment is not child friendly. Buying isn’t really on the table for reasons listed on this blog ad-nauseum, but I’m struggling to determine what a ‘reasonable’ rental we can afford based on how much we should try and save with maternity leave and future costs on the horizon (child care, additional children, a much wanted canine friend…).

For context, we can find 1000 sqft 2 bed apartments in East Vancouver in the 2-2.5k range, versus nice detached homes in Vancouver West that are 2000 sqft for 3-3.5k.

Assuming our current non-essential expenses shift to the newborn, is renting an entire house and saving 33k/yr vs. renting a 2 bed and saving 45k/yr a bad idea? We have no visions of retiring in our early 40s (mid to late 50s would be great), but want to set ourselves up to be financially independent and ready if housing prices ever crash out here.”

First, your baby won’t give a hoot where you live. The kid won’t demand a separate bedroom or a backyard for a while, so there’s no rush. Having said that, you make a lot of money, have saved a ton and can certainly afford to upgrade.

How much rent should you pay? One yardstick, often used by landlords to determine if a tenant has the wherewithal to lease, is the Rule of Forty. That simply means your annual household income should be 40 times the monthly rent. Or, conversely, divide income by that amount to arrive at the max rental rate. For example, a family grossing $100,000 could finance a $2,500 monthly.

In your case the rent ceiling chimes in at $5,300 – enough to rent a honking nice house, even in delusional Vancouver. But, of course, that would eat into your fat savings rate – and already you face a lifestyle shock with all of the kid-related expenses about to fly into your lives. So three grand a month (or close) sounds like a reasonable compromise. Please remember, however, to avoid the classic Baby Mistakes – (a) running out and buying a lot of insurance born of guilt, obligation and adulating or (b) falling prey to one of the RESP Vultures festering like a fungus outside the maternity ward doors.

Now, to the opposite end of the age continuum, because Samuel has a question about looking after his grandma. Lucky for her, he sounds like a good boy.

“I’m a long time reader of your educational blog and this is the first time I’ve reached out for your expert opinion. I couldn’t imagine not starting my day off without a cup of coffee and a fresh post from the wise Garth Turner. I hope this is enough of a suck up?”

It is. You may continue.

“I’m a young male in my mid 30s, and I have the responsibility of being my widowed 87 year old grandmother’s POA and executor of her will. She has multiple RIFF and non-reg accounts that sustain her current and foreseeable lifestyle that is changing daily as Alzheimer’s has set in. She has a ton of GICs that are staggered to come to term every year and recently she had 80k of GICs that have come to term and I was surprised to find her TFSA has 50k of room. I intend to fill the TFSA but am second guessing what to fill the TFSA with. IMO my grandmothers generation had the approach of parking money somewhere that as long as it didn’t lose it was a win and it has done her well.

“As her mental health has deteriorated rather quickly, locking into a multi-year anything seems like a bad idea. Obviously, I have a different investment approach at 30 than that of my 87-year-old grandmother. I want to do the best thing for her so she can be comfortable going forward. Do I take a 60-40 balanced approach? Do I stuff it in short term GIC’s just as the [email protected] led my grandmother to believe was in her best interest?”

The first concern is her care as she sinks into the fog of Alzheimer’s. This is a vicious malady with no cure, a steady spiral downwards and a known outcome. Her needs will grow more intense, and many victims end up requiring 24/7 attention in a secure place. Sadly most public facilities are ill-equipped or staffed to adequately handle that. So, Sam, your highest obligation is to use her money to ensure she receives the greatest, most appropriate and loving assistance. That can cost eight grand or more a month in many cities. For that level of expense, her assets likely need to perform far better than in a GIC.

[email protected] is wrong. Your grandmother doesn’t need to preserve her capital for the years ahead, but to use it now for immediate needs. By investing it for her in a prudent, diversified and balanced portfolio you can extend the life of this capital and possibly allow her to also leave a legacy. Work with an advisor to consolidate the RRIFs and the non-registered accounts, to fold in the GICs as they mature, and create an ETF-based stream of income for her needs. Stuff the TFSA, of course. Review her will. Document all of your actions as her POA. Speak with her accountant to ensure past tax returns have been filed. Start reviewing your complex duties as an executor.

Then hold her hand and tell her not to worry.

Remember, Sam. There but for the grace of God and a few decades, go you. Pray you have as worthy a guardian.

124 comments ↓

#1 Ryan on 10.24.19 at 2:32 pm

The average sale price of a home in Canada was $629,200, according to October figures from the Canadian Real Estate Association. But in Greater Toronto and Greater Vancouver, the average price was $806,700 and $986,500, respectively.

#2 SoggyShorts on 10.24.19 at 2:33 pm

#230 Ponzius Pilatus on 10.24.19 at 12:16 am
#200 Stahom on 10.23.19 at 10:21 pm
As an Albertan I don’t know what the big rush is to get this product out of the ground at these prices; we are just one big event in the Middle East and prices soar. It is a massive reserve.
***********************************
How would we capitalize on such an event if we don’t have the pipelines ready? Also, it should be pretty obvious that oil is getting out of favor so making money off it sooner rather than later is the smart move. Remember, the USA has enough shale oil to frack for hundreds of years so it’s almost a certainty that the world will move away from oil before running low making the devaluation of ours inevitable.

#3 Anne on 10.24.19 at 2:40 pm

The answer to the 2nd question may have made me tear up a little. Such a gift to have someone put another’s needs first.

Made me think of this and how wrong it can go.

https://www.bccourts.ca/jdb-txt/sc/19/18/2019BCSC1811.htm

#4 Smartalox on 10.24.19 at 2:51 pm

The nice thing about having a nest egg already saved in your 30’s is that you can scale back your contributions, and let the capital you have saved do the work of growing. Of course, additional savings help it grow faster, but it’s nice to have the flexibility.

Also, it’s a much better approach than starting to save AFTER paying for a house, and having far fewer years of compound growth before retiring.

#5 Niagara Region on 10.24.19 at 2:55 pm

HOUSE PRICES FALLING IN NIAGARA REGION
I keep a watchlist of single-family homes I like for sale in the Niagara Region, because I hope to buy one once prices are more reasonable. Within the past 48 hours, 3/4 of the houses on my watchlist have dropped in price by anywhere from $10,000 to $25,000 each. It appears that the election outcome is starting to reign in real estate prices in my region.

#6 Andrewski on 10.24.19 at 2:57 pm

I hope “short time reader” has filled his shorts with life, critical illness & disability insurance, because the gap he’d leave his expanding family if he were to die prematurely would be huge!
As far as young man who’s POA on Grandma’s accounts, good for you to take that on. I speak from personal family experience & concur with Garth, Alzheimer’s is a vicious malady, so make sure Grandma has all the care her wealth can afford. If Grandma is living alone, hire a caregiver. Even if Grandma is living in a care facility, hire an outside caregiver to come in and provide her one on one care. You’ll sleep better at night knowing that Grandma’s waning days are as good as they can be. Finally, get to sitting down with Grandma while she has the capacity, with a video recording device and ask her to recount her life, as you’ll be able to look back on capturing her memories for generations to follow! Cheers.

#7 Wait There on 10.24.19 at 3:05 pm

Ok so we use the rule of forty for retirees.

To afford a rent of 2.5K, one would need a 100K income stream. To acquire a 100K income stream a balanced portfolio on average would need approx 2 Million Dollars.

Hey high rent has also screwed retirees. No?

#8 Clayton604 on 10.24.19 at 3:19 pm

RE: POA – don’t forget about all of the government programs that let you keep your money. Has she applied for the disability tax credit? That will put an extra $1500 per year in her pocket (can also be carried back if physician/nurse will certify it has existed for since year 201X).

Is her care facility public or private? If private, is her accountant claiming a portion of her care costs as a medical expense? Many private facilities will provide you a letter at year end to ensure you can claim a portion of the care as a medical expense.

#9 DON on 10.24.19 at 3:22 pm

One last comment on the subject of ‘exiting’. Would be best to see how many commentators other than are usual friends that are commenting from Jason Kenney’s Albertan War Room. The boys seem to be out in full force.

#10 SoggyShorts on 10.24.19 at 3:31 pm

#7 Wait There on 10.24.19 at 3:05 pm
Ok so we use the rule of forty for retirees.

To afford a rent of 2.5K, one would need a 100K income stream. To acquire a 100K income stream a balanced portfolio on average would need approx 2 Million Dollars.

Hey high rent has also screwed retirees. No?
*************************
But a retiree should be able move without the worry of a longer work commute.
Heck, they could even snowbird very nicely for far less than $30,000 a year in rent.

#11 IHCTD9 on 10.24.19 at 3:36 pm

#319 Gravy Train on 10.24.19 at 2:11 pm
#290 IHCTD9 on 10.24.19 at 11:46 am
“[…] The typical Ontario household uses over [750 kWh] per month.[…]” My solar panels have produced 6,827 kWh over the past 219 days, and are expected to produce 10,478 kWh for the year, so on average they produce 873 kWh per month. Do you see what I just did? I just shot down your entire argument. Oh, and you don’t seem to know the difference between watts and watt-hours. :)
___

Gravy, you’re grid tied aren’t you?

There goes your argument too!

Might as well be honest bud…

#12 Keyboard Smasher on 10.24.19 at 3:39 pm

Great advice Garth, BTW, does anyone have instruction manuals for shaped charge warheads? You know, the ones that can be shaped on a lathe from some copper plate and can be used against armored vehicles, err, I mean moose.

Asking for a hunter friend.

#13 SimplyPut7 on 10.24.19 at 3:41 pm

Cutting the kids off early eh? You probably would have had over 400 comments on the last post.

Honda plans to only sell electric and hybrid cars in Europe by the year 2022.

Volkswagen plans to launch 70 new electric models by 2028.

Hyundai plans to invest 41 trillion won ($35 billion) into electric cars and autonomous driving by 2025 and release 23 kinds of electric vehicles by then, making up roughly half of its new lineup.

Audi plans to deliver 30 new electrified models by 2025, 20 of which will be all-electric models.

https://www.cnn.com/2019/10/23/cars/honda-electric-cars-europe/index.html

https://www.irishtimes.com/life-and-style/motors/30-new-electrified-models-by-2025-in-audi-s-roadmap-to-an-electric-future-1.4037625

Are you happy now? It’s time to divest and explore new industries before it’s too late. By the time your precious pipeline is finished, Europe and Asia won’t even want your oil.

Also, a diet that emphasizes plants over red meat would do wonders for climate change.
https://i.cbc.ca/1.4931192.1543885401!/fileImage/httpImage/image.jpg_gen/derivatives/original_780/carbon-emissions-from-food.jpg
https://www.cbc.ca/news/technology/food-climate-change-carbon-footprint-1.4930062

There I said it! Might as well go down the rabbit hole with all the other people in Ontario who secretly voted for smug JT.

#14 Blacksheep on 10.24.19 at 3:53 pm

IHCTD9 # 290,

“Sure we can make renewable energy work – but we’ll have to chop the global population down about 75-80% first…”
————————————————
Exactly.

The UN loves to ram it’s policies down sovereign throats, WHY has it not mandated a global population reduction (we’re in the 6th E.L.E. right?) for all countries, based on birth control? One can clearly see causation in the ‘more humans born = more oil used’ graph IHCTD9 supplied.

I know humans thought we were special (gods image) and that the brightest minds of the day believed our universe revolved around us, on the earth. But what I don’t get, is how anybody can currently expect, that the planets climate should remain static (given current knowledge) just because we sensitive little beings now monopolize it, even when research shows constant change/cycles, has been the norm for XXXXXXXXX # of years?

The climate is changing, as it always has and always will, deal with it…

#15 SharkTank on 10.24.19 at 4:06 pm

#9 DON on 10.24.19 at 3:22 pm

You gonna blame Vladimir Putin for Wexit while you are flying into your hysterics too?

#16 IHCTD9 on 10.24.19 at 4:16 pm

#315 Your buddy on 10.24.19 at 1:51 pm

Aren’t you glad your wife has her government job? Isn’t yours linked to the government as well? Either way, you spout off here about taxes and debt and yet you have at least half or more than half your household income coming from a government salary and in the future you are looking forward to your wife’s DBP. You are the epitome of a hypocrite…
___

Hi Tater!

Yes I am very happy for Ms IH’s govy job. I don’t know what to tell you T, but as long as the government pays more, we’ll be in line to work for them. (right now I am not, but maybe that will change some day).

I know this is a tough one to understand for you, but it’s totally possible for a dude to think the government is dumb as a stump, vote for their opponents – yet still accept the big paycheques, benefits, pensions and freebies/handouts with a smile.

It’s not hypocrisy at all, I’ve never once said to never take a high paying govy job, or to never cash in on the freebies.

Quite the opposite!

#17 Tater on 10.24.19 at 4:31 pm

#16 IHCTD9 on 10.24.19 at 4:16 pm
#315 Your buddy on 10.24.19 at 1:51 pm

Aren’t you glad your wife has her government job? Isn’t yours linked to the government as well? Either way, you spout off here about taxes and debt and yet you have at least half or more than half your household income coming from a government salary and in the future you are looking forward to your wife’s DBP. You are the epitome of a hypocrite…
___

Hi Tater!

Yes I am very happy for Ms IH’s govy job. I don’t know what to tell you T, but as long as the government pays more, we’ll be in line to work for them. (right now I am not, but maybe that will change some day).

I know this is a tough one to understand for you, but it’s totally possible for a dude to think the government is dumb as a stump, vote for their opponents – yet still accept the big paycheques, benefits, pensions and freebies/handouts with a smile.

It’s not hypocrisy at all, I’ve never once said to never take a high paying govy job, or to never cash in on the freebies.

Quite the opposite!
———————————————————–

Sorry to say that wasn’t me.

But, since you said my name, I’ll point out that I find it hard to believe that anyone who has a high paying job is looking for cheap ways to heat their house.

#18 Mrs. Chaddywack on 10.24.19 at 4:42 pm

To the ‘short-term reader’:

Having recently been in your shoes, my advice would be to not bite off LESS than you can chew.

My husband and I also make good money, but the transition to spending it was hard after so many years of careful saving and paying off student debt.

We started off having our baby in a 1 bedroom, assuming we could ‘make it work’. After a few months its was clear baby needed its own room for our own sanity. So we found a reasonably priced 2 bedroom apartment, which we soon felt we had outgrown with the accumulated baby ‘stuff’ (strollers take up more than their fair share of hallway). So a year later we upgraded to a house in East Van, but still only 2 bedrooms, which back-fired with baby #2 on the way, which has recently prompted another move.

Just saying – plan ahead a few years rather than looking for the cheapest option. Sure the baby doesn’t care where you live, and people have lived in limited surroundings for eons, but why make life harder for yourself than you need to? (And in the end probably no money was saved with all those moving expenses every year.) At least by renting we are still paying <1/2-1/3 of what an equivalent mortgage would be.

And a freebie: look for a place within walking distance to a toddler friendly playground. You have no idea how helpful this will be after 9 months. As much as I am not a fan of East Van any longer, they are great for playgrounds and parks.

#19 Don Guillermo on 10.24.19 at 4:43 pm

#312 Keyboard Smasher on 10.24.19 at 1:29 pm
It’s funny because Western Oil & Gas revenues pay for all of the climate change vanity projects.
I fully support Western secession, and I say this as an Ontarian
**********************************************
I can’t understand while all of the ROC wouldn’t support Wexit and help us facilitate it. We are your biggest pain in the but!

– we annoy you by trying to adult talk you down when you overspend on everything
– we have no interest in your carbon tax or any other silly tax inventions
– you could easily squish or shout out any of left over annoying blue areas
– your red and orange areas can compete for the best nanny state policies like free dental, free glasses, free medication, free solar panels, free wind turbines … hell maybe even free Teslas
– you’d immediately have a huge reduction in your green house gas emissions that you could brag to the Paris accord about
– your odds of having the best hockey team in Canada are greatly increased

What’s not to like. Seems like a win. Let’s do this!

BTW #9 DON on 10.24.19 at 3:22 pm
Kenney doesn’t support it so no war room help here.

#20 DON on 10.24.19 at 4:50 pm

#15 Shark Tank

W T F are you going on about “hysterics”. I said it would be nice to see how many commentators/ bots are originating from Kenney’s Alberta Oil War Room. Did I strike a nerve? It is a valid question…given the circumstances…and How The F does Putin figure into this? ARE YOU ORIGINATING from the war room?

#21 the ryguy on 10.24.19 at 4:56 pm

https://us11.campaign-archive.com/?u=de2bc41f8324e6955ef65e0c9&id=9e03e3be59

Here is the article mentioned in yesterdays comments. If you want a crash course in geopolitics I can’t think of a better teacher than Peter Zeihan.

This one focuses on Canada although it zooms out a bit and explains some trade relationships between North American partners. Its a good read and Peter suggest the USA could resort to having trade deals with individual provinces to avoid the headache of Ottawa.

#22 TurnerNation on 10.24.19 at 4:59 pm

For Bandit’s Halloween costume I suggest duskened whiskers to appear as a prime minister’s companion.

#23 Calgary retiree on 10.24.19 at 5:16 pm

My God, 328 comments yesterday! Mostly from the easily confused and misinformed. I’m talking about many of my fellow Albertan’s who keep pointing to T2 and pipelines as the source of their respective frustration and salvation.

Here’s what happened. Oil sands production has almost tripled over the last decade. Reminder: all oil sands production is destined for the US. The construction and operational needs for the additional oil sands production caused a short lived economic boom in Alberta.

Meanwhile, the US re-discovered fracking and oil shale. The US is now oil independent and an oil exporter. There goes the oil sands market and product pricing. No amount of new pipeline will do anything about that. It’s a pipe dream…

#24 Your Buddy on 10.24.19 at 5:16 pm

#16 IHCTD9 on 10.24.19 at 4:16 pm

“Yes I am very happy for Ms IH’s govy job. I don’t know what to tell you T, but as long as the government pays more, we’ll be in line to work for them. (right now I am not, but maybe that will change some day).”

So you enjoy the financial security of your wife’s government job, look forward to you yourself getting a government job but brag about reducing your tax bil to almost nil…

If you don’t think that is hypocrisy then utterly delusional might be more appopriate…

At least your wife was consistent by voting NDP.

#25 IHCTD9 on 10.24.19 at 5:35 pm

#24 Your Buddy on 10.24.19 at 5:16 pm

“So you enjoy the financial security of your wife’s government job, look forward to you yourself getting a government job but brag about reducing your tax bil to almost nil…”

That is correct.

“If you don’t think that is hypocrisy then utterly delusional might be more appopriate…”

If I were to advocate to not work for the government, and to also pay all the taxes that you can, and then turned around and did the opposite, yes I would be a hypocrite. But I totally advocate for making govy cash, receiving govy benefits, and paying minimal taxes. Please look up the meaning of hypocrisy.

“At least your wife was consistent by voting NDP”

You got me there, I’d be way further ahead pushing for lefty leadership to pack my bank account, and fill my garage.

Maybe I’ll do it some day.

#26 Shawn Allen on 10.24.19 at 5:47 pm

IHCDT( hypocricy?

Your Buddy at 24 railed:

So you enjoy the financial security of your wife’s government job, look forward to you yourself getting a government job but brag about reducing your tax bil to almost nil…

If you don’t think that is hypocrisy then utterly delusional might be more appopriate…

*********************************
“Your Buddy” needs to check the meaning of the word hypocrisy which is “a pretense of having a virtuous character, moral or religious beliefs or principles, etc., that one does not really possess.”

IHCDT9 has been completely transparent about his efforts to reduce his family’s taxes for years AND about maximizing government benefits.

He is looking after his own interests and (mostly) just following the rules.

He is doing exactly what Adam Smith prescribed in the Wealth of Nations. If we all look after ourselves the economy overall tends to do best.

Who among us would go out of their way to pay more tax? IHCDT9 expends a lot more effort avoiding tax than I would but that okay. I don’t begrudge the taxes I pay but I don’t go out of my way to pay more nor am I shy about taking whatever tax deductions are available to me.

#27 FreeBird on 10.24.19 at 5:48 pm

First to Sam (and all in his shoes) my heart goes out. So many incl my husband walk the same journey with a loved one. For him it was mom. While you arrange a facility for her call the CCAC and get set up with a care coordinator for home care if she’s still at home. This isn’t hard to do. It’s not just for her but you too. It can be a rich one. If you haven’t already look into music for Alzheimer’s. It’s a proven (drug free) way to improve quality of life at any stage or age. If interested a volunteer at your closest ASC office will come and talk with you and your about it and if if you want will get a list of music she likes or liked and load onto an IPod or similar for free and bring back to show you and her how to use it. It can truly have amazing effects. Here’s two links that may help. Even if she’ll be in a 24hr assisted care setting she can still use. Most good facilities will be familiar with it and happy to help. No matter what it’s still to contact the ASC for guidance for any concerns or questions. The personalized music thru the iPod can help reduce need for medication to calm her when needed as it can for anyone. Look at a few ACF (assisted care facilities) and ask questions incl safety (lock down floor when/if needed for her safety), experience with Alz/dementia and staff training, continuity of care (key for Alz/dementia), care protocols, diet, how often she gets out for fresh air, MDs visit and who they are, cleanliness, energy of staff and facility (walk around), once POA for care is in place ensure you are told of any meds she’s given and how often (and why – keep track). In the end use your gut. This is your gran. She deserves the best she can afford and can access quickly as possible. Then just as with her money you have peace of mind. I wish her peace, comfort and laughter. Also care takers/close loved ones can go on autopilot and forget to eat, sleep etc. Take care of you Sam and remember to breath. You and she will need it later when the road gets tougher. Which is where the contacts you made at the local ASC and maybe hospice will be of valuable help.

https://alzheimer.ca/en/Home/We-can-help/Resources/Power-of-music

http://www.aliveinside.us/#land

#28 FreeBird on 10.24.19 at 5:51 pm

Typo, the journey with Sam’s grandmother can be a rich one not obv contacting the CCAC for help.

#29 Sam on 10.24.19 at 6:03 pm

she’s 87 yr’s old. And to place it in 60/40 portfolio? huh?

what if there’s a recession next yr and the market does a 2008/2009. Then what?..SHE”LL NEED TO SELL LOW on that 60/40 portfolio and dramatically change her financial future’s picture….

sequence of returns risk may be a topic to cover Garth, as many follow you blindly

Why would she/he sell in a temporary decline? When a person needs income, GICs do not cut it. – Garth

#30 oh bouy on 10.24.19 at 6:14 pm

@#21 the ryguy on 10.24.19 at 4:56 pm
https://us11.campaign-archive.com/?u=de2bc41f8324e6955ef65e0c9&id=9e03e3be59

Here is the article mentioned in yesterdays comments. If you want a crash course in geopolitics I can’t think of a better teacher than Peter Zeihan.

____________________________________

interesting dude as far as futurists go.
huge grain of salt with his predictions though.

#31 IHCTD9 on 10.24.19 at 6:21 pm

Then hold her hand and tell her not to worry.

Remember, Sam. There but for the grace of God and a few decades, go you. Pray you have as worthy a guardian.
———

Sam is a good boy. The fruits of the golden rule, and good karma will hopefully fill his sails.

#32 IHCTD9 on 10.24.19 at 6:29 pm

#26 Shawn Allen on 10.24.19 at 5:47 pm
———-

Thank-you Mr. Allen, especially since I know you’re totally cool with taxes, and have a much more optimistic view of them than I.

#33 leebow on 10.24.19 at 6:39 pm

#5 Niagara Region

It probably isn’t due to the election. People want to close before winter, that’s all.

Niagara region is huge. NOTL, Wainfleet and Grimsby are all Niagara. Where are you looking? The whopping 20K reduction brings 5 yr RE appreciation in Niagara down to meager 300%. Niagara was underappreciated for a long time.

#34 WHEW ... that musta bin close ... on 10.24.19 at 6:47 pm

figgered fer shure Garth would do a melt down after yesterday’s comments. Takereasy …

#35 IHCTD9 on 10.24.19 at 6:51 pm

#2 SoggyShorts on 10.24.19 at 2:33 pm

How would we capitalize on such an event if we don’t have the pipelines ready? Also, it should be pretty obvious that oil is getting out of favor so making money off it sooner rather than later is the smart move. Remember, the USA has enough shale oil to frack for hundreds of years so it’s almost a certainty that the world will move away from oil before running low making the devaluation of ours inevitable.
——-

Bingo – you don’t just crap out a pipeline in a couple of weeks, especially in Canada.

I did see your post on US shale oil reserves the other day, but did not get around to replying. I think the jury is still out on how long fracking will continue. Government may have a big influence as there are plenty of potential issues with it like fresh groundwater contamination – that’s a biggie in a large chunk of the US. They’re fine under Trump, but that won’t last forever. Pumping Capacity is another issue.

Time will tell, but meanwhile, tarsands oil extraction gets more efficient and profitable (at lower WTI $) as the years roll on.

Keep in mind that chances are excellent that Saudi Arabia is getting down to the last of their reserves. They’ve been keeping the Ghawar field pressure up with water injection for decades now, and some have claimed a 50% + water cut is the norm at the wellhead. Other major producers are winding down too, or are being forced off the market (ie. Venezuela). Lots of new oil discoveries are deep sea and will need a high price.

Finally, world consumption keeps going up every year. Fracking wells have a short life, and increasing capacity gets expensive quick. We could possibly see global supply shrink, even with the US pumping for all it’s worth just because they can’t pull it up fast enough to satisfy demand.

No matter how long fracking carries on, I’m still pretty bullish on WCS making a comeback looking at the globe as a whole production wise – could be a while, but maybe not.

#36 crowdedelevatorfartz on 10.24.19 at 6:55 pm

@#29 SAM
“what if there’s a recession next yr and the market does a 2008/2009. Then what?..SHE”LL NEED TO SELL LOW ….”
++++

You have learned nothing from this blog.
Spend your money on Tattoos.

#37 crowdedelevatorfartz on 10.24.19 at 7:12 pm

@#326 Ustabe
“who drives a black Volkswagen full of cat hair and empty white wine boxes.

K? thnx, bye.”

+++++

Hilarious. Good one.

#38 IHCTD9 on 10.24.19 at 7:13 pm

#17 Tater on 10.24.19 at 4:31 pm

Sorry to say that wasn’t me.

But, since you said my name, I’ll point out that I find it hard to believe that anyone who has a high paying job is looking for cheap ways to heat their house.
————

My apologies, it looked like the same Schtick, and whoever it is has obviously read enough here to get my drift. I was kind of thinking you seemed smart enough thus far to know what a hypocrite is, but only after I posted to my new buddy.

As for cheap heat, I like wood, and I like building stuff. I don’t have a high paying job, but I can afford propane should I decide the wood is too much trouble. It’s a project, cool, and will increase the general comfort of my old house.

Basically, it’s having some fun, while saving a little cash at the same time.

#39 Dave on 10.24.19 at 7:17 pm

I don’t understand why young people looking to save, rent an apartment. You can get more square footage for almost $700 to $1,000 cheaper per month in a ground level suite in a house.

#40 Asterix1 on 10.24.19 at 7:20 pm

CMHC should stay be legally forced to stay away from making their”prediction” on housing market!

“Housing Activity Expected to Recover in 2020”

They dont know sh**!

#41 Ustabe on 10.24.19 at 7:29 pm

I hear you IHCTD9. When I order wood (go through about a cord a year which is at least 50% of my needed heat) I ask for about a third of it not split. Just to keep my hand in, have a little fun.

Remember the old series, Beachcombers? I lived on the water back when they rafted the logs, always free firewood washing up on the beach. If you heard the beachcomber drawing near you just ran down to the beach and put a case of Lucky on the end of your logs.

Log dogs, chainsaws, splitting wedges, mauls, proper axes…those were the days.

Now they barge the timber…and I’m way too old

BTW, my stove is CSA, WETT and EPA certified, has a catalytic converter in it and as soon as it hits operating temp there is nothing coming out of my chimney but heat shimmer…and pure particulate death I’m sure.

#42 Deplorable Dude on 10.24.19 at 7:50 pm

#23 Calgary Retiree..”The US is now oil independent”.

The US still imports a substantial amount of oil…and 43% of it’s imports come from Canada.

Unless we built a sh*t load of latest generation nuclear power stations….we will need fossil fuels until they runout.

Solar power is useless to most of Canada during the winter months…..the reason it’s cold is cause there’s significantly less solar energy……stating the bleeding obvious…not too mention having solar panels covered in snow.

Wind energy is just as bad…significantly less wind during the winter months. Not too mention wind turbines are major bird killers.

Electric cars…..so what….how’s the electricity source being generated?

Literally millions of people would freeze to death in N.America without fossil fuels.

Renewable energy is a pipe dream on mass scale.

Latest generation Nuclear power is the only realistic option.

#43 Niagara Region on 10.24.19 at 7:51 pm

leebow on 10.24.19 at 6:39 pm
#5 Niagara Region

It probably isn’t due to the election. People want to close before winter, that’s all.

Niagara region is huge. NOTL, Wainfleet and Grimsby are all Niagara. Where are you looking? The whopping 20K reduction brings 5 yr RE appreciation in Niagara down to meager 300%. Niagara was underappreciated for a long time.
…………………………………………..
#33 Leebow, I’m talking about houses in Niagara Falls, Fort Erie, St. Catharines, and Welland. It is not merely people trying to close before winter. I’ve been watching listings for single family homes in the Niagara Region like a hawk since 2013. This sudden drop across so many houses at once has not happened in the past 6 years. There is something going on. The most logical explanation is that the election, and some of the seemingly forthcoming housing policies (e.g., re: foreign purchasers), is already having an impact on housing prices. Also, there has been massive overbuilding in the region, although that wouldn’t explain the suddenness of the drop in prices. (Btw, a doubling in housing prices since 2014 is correct–but not a 300% appreciation.)

I don’t understand why people want to move to the Niagara Region. It’s very noisy: with bird bangers from the wineries, with ships passing through the Welland canal all night long, and with helicopters flying over most of the City of Niagara Falls during sunlight hours. Simultaneously, it a rather dull place. It’s also become very congested. If folks are hoping to commute to Toronto, the QEW is now so thick with traffic that it takes almost 3 hours in the morning from NF to get to Toronto.

#44 Don Guillermo on 10.24.19 at 7:51 pm

Very impressed with young Samuel. Heartwarming!

#45 Steven Rowlandson on 10.24.19 at 7:53 pm

How much rent should you pay?

One eighth to one quarter of a months pay for one person based on that persons real income.

#46 SoggyShorts on 10.24.19 at 7:59 pm

@ sail away & Yanniel
RE: Tax GAIN harvesting?

I believe it was you 2 who answered my initial question, so here’s some background:
♦Couple retiring @41/40
♦Need ~40K per year to maintain lifestyle
♦Joint non-reg made ~40K in cap gains in 2019

According to https://simpletax.ca/calculator
We can each earn up to 24K in capital gains per year tax-free.

Does it, therefore, make sense to sell off and immediately rebuy similar holdings to harvest the cap gains since our tax bracket is so low?

If we don’t then someone at some time will have to pay taxes on the cap gains either because of a change in rules where cap gains are treated as income or 100% inclusion, or when we die and they are deemed as being sold before going to our beneficiaries, right?

Or in the future for some unforeseen reason, we may need/want to take out a larger portion and will be taxed more heavily.

#47 Brian Ripley on 10.24.19 at 8:09 pm

#13 SimplyPut7 “By the time your precious pipeline is finished, Europe and Asia won’t even want your oil.”

Yes, I saw that as well, Big Auto is increasing the trend momentum towards 100% electric transport.

But according to this chart in my OCT 21st post sourced from Environmental Defence, a leading Canadian advocacy organization: http://www.chpc.biz/history-readings/federal-election-2019

… the single biggest barrier to climate action in Canada is the Oil and Gas lobby.

The percentage changes from 2000 to 2016:

> Oil production in Canada UP 75%
> Oil & Gas production in Canada UP 27%
> Resource Royalties DOWN 63%
> Corporate Taxes DOWN 50%
> Employment including Mining/Quarrying DOWN 11%

Environmental Defence goes on to say:

“The oil lobby is lying. Canadian oil isn’t clean oil.” documents that “46 countries produced oil with a lower per barrel carbon footprint than Canada. Only three countries were worse: Algeria, Venezuela, and Cameroon. We’re 47th out of 50 countries.” OCT 10, 2019

ITEM: OCT 2019 TruthOut.org: ExxonMobil Is Still Bankrolling Climate Science Deniers

So Big oil is probably going to do what the Tobacco industry has done so well: obfuscate – much like Trump does so well as he potentially hands Kurdish/Syrian oil to Putin/Assad.

“Meanwhile, carbon dioxide emissions from fossil fuel sources hit a record 37 gigatons in 2018, nearly doubling the annualized rate over 2017” World Resources Institute

AND we have the Arctic/Siberian latitudes warming and releasing methane:

ITEM: FEB 2019 University of Washington: Early spring rain boosts methane from thawing permafrost by 30 percent

#48 crowdedelevatorfartz on 10.24.19 at 8:18 pm

@#12 Keybored
“BTW, does anyone have instruction manuals for shaped charge warheads”
+++++

Pfft. Who needs a lathe.
Look in the mirror.
Your skull is the puurrr-fect shape.
Just pretend the C4 is Silly Putty (ironic dont ya THINK?)
and mold it over your “cone” head.

https://www.youtube.com/watch?v=_KlXBQ5j18I

#49 Linda on 10.24.19 at 8:32 pm

Today’s case files: in the rental case, the writer mentioned wanting to acquire a family dog. If that is true, seems to me that renting a house (with yard) is the way to go, even if it costs a bit more. I might be off base, but I am guessing house rentals are much more likely to permit fur friends. Plus, kid stuff takes up an amazing amount of space so the extra space a house rental would provide is worth it.

In case #2, I hope Sam has confirmed Grandma has Alzheimer’s. It is not uncommon for elderly folk to have multiple medications for various ailments. If Grandma has recently started some new meds, that ‘deteriorated rather quickly’ might have more to do with the meds than disease. It could even be that meds that were previously o.k. together have started to cause issues. Just saying.

#50 Victoria on 10.24.19 at 8:35 pm

Just where is the money coming from? I live in Victoria and have not been to two neighborhoods in the last couple of years. I was shocked by the houses ripped down and 2 million 3 million dollar homes being put up. Someone I know is buying a 5 million dollar house. They are an eye doctor. No inheritance. Just decided to buy a 5 million dollar house.

https://www.theglobeandmail.com/business/article-housing-prices-and-activity-to-recover-over-next-two-years-cmhc-says/

#51 Stuart on 10.24.19 at 8:35 pm

God bless you, Garth.
Thanks.

#52 Sydneysider on 10.24.19 at 8:53 pm

Sam,

Instead of waiting for the GICs to mature, consider taking them out early to invest, if interest payable is low.

#53 CJohnC on 10.24.19 at 8:59 pm

An interesting documentary on the $US Being spent to landlock Alberta oil

I found it best to watch directly in YouTube

https://www.pipelinenews.ca/news/local-news/vivian-krause-documentary-now-available-for-free-1.23979764

#54 leebow on 10.24.19 at 9:08 pm

#43 Niagara Region

Yeah, you could get single family houses for 60-70K in Niagara Falls. I remember one really nice house – 50K for a 4-bdrm. That was a forced sale back in 2013-2014.

You are totally wrong about NF. I used to live there and love the place. It’s not noisy and you don’t see tourists outside of Clifton Hill or River Rd. 4 weeks less of winter, great infrastructure because of tourism. New hospital in St Catharines. Great for retirees and as a weekend home.

Trails, cycling, fishing, hiking, golfing, historic sites, restaurants. Sakura in mid April. Everything on a budget. But you gotta pick a good area, as there are some rough spots. Side streets off River Rd are nice. Or the new areas if you have kids.

Travel to Toronto is 2 hrs by VIA or 2.5 by GO train. You can also drive to Burlington and take train from there. You can even fly to BB airport. 15 minutes of terror. Going to Toronto every day is tough, although some people do it. Once or twice a week is acceptable.

#55 Flop... on 10.24.19 at 9:09 pm

Story number one.

What are your thoughts on this place?

You could offer 950k.

Built in 2016.

If you put 25% down your mortgage would be around 3,500.

The main concession would most likely be no defined backyard.

You and the kid can mark it out in chalk…

M45BC

https://patrickweeks.com/property/5512-dundee-street-vancouver/

#56 Lorne on 10.24.19 at 9:12 pm

“Wind energy is just as bad…significantly less wind during the winter months.”

Really? Might want to check this one out….certainly not the case in most places!

#57 conan on 10.24.19 at 9:25 pm

So it’s Wednesday that we do Hillbillies of Alberta?

https://youtu.be/0WPzFnZkZmI?t=28

#58 yvrmc on 10.24.19 at 9:39 pm

Re # 13 ….. I am getting really tired of people telling me that I need to alter my diet to a plant based diet. What planet did you arrive from ?

#59 IHCTD9 on 10.24.19 at 9:40 pm

#41 Ustabe on 10.24.19 at 7:29 pm
I hear you IHCTD9. When I order wood (go through about a cord a year which is at least 50% of my needed heat) I ask for about a third of it not split. Just to keep my hand in, have a little fun.

Remember the old series, Beachcombers? I lived on the water back when they rafted the logs, always free firewood washing up on the beach. If you heard the beachcomber drawing near you just ran down to the beach and put a case of Lucky on the end of your logs.

Log dogs, chainsaws, splitting wedges, mauls, proper axes…those were the days.

Now they barge the timber…and I’m way too old

BTW, my stove is CSA, WETT and EPA certified, has a catalytic converter in it and as soon as it hits operating temp there is nothing coming out of my chimney but heat shimmer…and pure particulate death I’m sure.
———

I think appreciation for wood is an acquired taste, no? I was raised with wood heat, and had to help Dad get the wood. He had an old Lombard he bought when he was a kid, I had a newer Homlite. We’d take dead/dying wood off private lots, fence lines, problem trees, wherever we could get it, 3 bush cords per year. We split it all by hand with a chopping maul.

As us kids moved out, and Dad got older, he bought a hydraulic splitter, and switched to loads of logs and carried on. Just a few weeks ago he had the old wood electric furnace hauled out, and put in a propane furnace. Too damn old too!

Beachcombers was great! When I think of BC, that low flying shot over those huge log booms in the opening (closing?) credits is what pops into my head.

I miss the wood cutting sometimes. My F.I.L. still heats with wood at 77, Pacific Energy stove is great. No cat, but just the heat signature like yours once it’s off and running. His basement is heavenly in the winter time!

#60 ImGonnaBeSick on 10.24.19 at 9:43 pm

#20 DON on 10.24.19 at 4:50 pm

Typical DON repeating every iberal twitter conspiracy and talking point… “Anyone that doesn’t agree with me must be a bot from Russia – because I know I’m always right on everything”… There’s no bots on this forum you dough head…

#61 Gravy Train on 10.24.19 at 9:45 pm

#11 IHCTD9 on 10.24.19 at 3:36 pm
“Gravy, you’re grid-tied, aren’t you?” Yes.

“There goes your argument too!” Explain. Do you think the power company to which I make my bimonthly payments is unaware of the solar panels on my roof? Do you think I’m somehow ripping off the power company? Who do you think installed the bidirectional meter on my house?

Here’s how my power company describes the arrangement: “All net metering customers continue to pay their monthly base charge as usual, and business customers continue to pay demand charges. If you use more electricity than you generate, you still draw from the grid as needed and receive a bill for the difference at your regular rate. If you generate more electricity than you can use, these surplus kilowatt-hours (kWh) will be “banked” and applied to your next bill to offset any electricity drawn from the grid. If any surplus kilowatt-hours remain on the account at the end of a 12-month cycle, you will be paid for that energy at the same rate you pay for electricity from the grid.”

Oh, and here’s an interesting aside: My power company gets its power from the following sources: wind (28%), hydro and tidal (4%), natural gas and oil (15%), biomass (2%), solid fuel (36%), and imports (15%).

“Might as well be honest bud…” How am I being dishonest? :)

#62 AR on 10.24.19 at 9:55 pm

https://www.theglobeandmail.com/opinion/no-one-should-feel-sorry-for-alberta/article36782945/

Stop whining Alberta. Reader this article to the end.

#63 crowdedelevatorfartz on 10.24.19 at 10:04 pm

@#59 IHCTD9
“We split it all by hand with a chopping maul.”
++++++

At work I once mentioned splitting wood with a maul and people stopped, looked at me, and said, ” You had your wood split at the Mall?”
OMG.

“Nooooo, I used a maul to split wood.”

Crickets…….

“Whats a maul?”

#64 Shortymac on 10.24.19 at 10:17 pm

I’m with Garth, try and make that 1200/mon place last as long as possible. Look into getting a false wall to divide your bedroom and don’t be afraid to put the crib in the living room as they grow older.

#65 Smoking Man on 10.24.19 at 10:29 pm

Boom. Breaking

Durum, Barr now it’s a criminal investigation the origin of the Russian investigation.

Popcorn……

#66 Kate on 10.24.19 at 10:39 pm

We have an 11 month old and had a 1 bedroom plus den rented apartment. Pregnancy and first few months in the apartment worked ok but wasn’t amazing. Saved money, ddn’t have the stress of moving, a big place to clean, baby was small and didn’t have much stuff yet. But baby cries a lot so no quiet space away in the home. In suite or home laundry is a life saver. First few weeks is cluster feeding so baby is up every 3 hours, you don’t sleep. Gets better at 3 months, then much better at 6 months. But you will want more space eventually, like a spare bedroom or a garage. Maybe consider a 3 bedroom rental in a big city. Toys, clothes, walkers, jogging stroller all take space.
We live in a small city so bought a nice house for under $350k near family and good schools and daycares.
Best advice for baby and home is do what works for you. Crib vs cosleep, breastfed vs bottle, rent vs own, or anything in between. When you will be with your baby everything material will seem very inconsequential. Keep stress low, be happy, it’s amazing adding more love and happiness to your family.

#67 IHCTD9 on 10.24.19 at 10:46 pm

#61 Gravy Train on 10.24.19 at 9:45 pm
#11 IHCTD9 on 10.24.19 at 3:36 pm

“Gravy, you’re grid-tied, aren’t you?” Yes.

“There goes your argument too!” Explain.
———

IMHO, grid tied solar or wind is not bonafide green power as it uses the grid to eliminate the fundamental problems thereof. You don’t have to worry about peak loading, a week of cloudy weather, total power consumption, or electricity storage. You’ve got the grid backstopping you, and at the end of the wire is a nuke, coal plant, or hydro dam making it happen.

You probably already know how much more expensive, complicated, and compromising it would be to go completely off grid. Probably more than triple the cost, and still not allowing you to have a long hot shower whenever you want! Real green power (to me) does not need a gas turbine generator 100 miles away backing it up.

That said, if I ever did it; no question it would be a grid tied system just like yours. Any other way is not viable unless the entire house was built with off grid solar in mind.

Grid tie could be great. Think of millions of homes having grid tie systems in Canada, we’d be off to something good, as then my house and a couple neighbours might help power your house when we’ve got sun/wind, and you don’t. Then we could start taking entire power plants offline once the grid becomes flush with enough surplus privately produced solar/wind. It would take millions and millions of systems though, all way bigger than needed for the one house, and everyone dumping into the grid.

Nice thought, but I doubt the Provinces would allow this to happen, too much “power” to the people with that idea, not to mention good-bye OPG.

The context of my OP was the viability of green power (solar in this case) as a real world, stand alone system. Sure it’s possible for some existing residences at great expense, and compromise, but problematic for much more than that.

#68 lifexprt on 10.24.19 at 10:51 pm

To the couple with a baby

Live a little, get that house, enjoy life, you have no clue how it accelerates with kiddos running around.

Stop counting, analyzing, projecting, you are doing well enough to rent a place.

It doesn’t stop with one kid, there will be more and unless you enjoy moving (who doesn’t lol) find a place close to a toddler park, walking distance to a good school, in a friendly, laid back area with young families (you will need people to mingle with). We were in the same boat a few years back and now have 3.

Schools are crucial, parks are crucial, proximity to kid activity places is important and most of all enough space at home for everyone to maintain a level of sanity.

#69 PastThePeak on 10.24.19 at 11:08 pm

#59 IHCTD9 on 10.24.19 at 9:40 pm
#41 Ustabe on 10.24.19 at 7:29 pm
I hear you IHCTD9. When I order wood (go through about a cord a year which is at least 50% of my needed heat) I ask for about a third of it not split. Just to keep my hand in, have a little fun.
———

I think appreciation for wood is an acquired taste, no? I was raised with wood heat, and had to help Dad get the wood. He had an old Lombard he bought when he was a kid, I had a newer Homlite. We’d take dead/dying wood off private lots, fence lines, problem trees, wherever we could get it, 3 bush cords per year. We split it all by hand with a chopping maul.
++++++++++++++++++++++++++++++++++++++++++++

There is no heat like wood heat! I grew up on a farm and while we had a wood/oil furnace, most of the fuel was wood we cut, split and stored ourselves. Also had a separate wood stove for another part of the house.

Eventually the parents moved from wood to propane for the stove, but the furnace is still wood. I fell the trees, cut & splint a number of full cord a year for Mom who still lives at the family homestead (Dad having passed away a few years ago). Quite enjoyable to bring out the Husky and dig into ‘er – good exercise during the winter. We also use a gas hydraulic splitter (would take forever with a maul/axe for the amount we do, and maple is a b**ch to split by hand…).

I keep waiting for the shoe to drop when a Liberal gov’t will outlaw wood stoves / furnaces [particulate matter pollution ya know] – there was a pretty strong rumour that Kathy Wynne wanted to do that, but fortunately we dodged that bullet and her time was ended…

#70 DON on 10.24.19 at 11:23 pm

#60 ImGonnaBeSick on 10.24.19 at 9:43 pm

#20 DON on 10.24.19 at 4:50 pm

Typical DON repeating every iberal twitter conspiracy and talking point… “Anyone that doesn’t agree with me must be a bot from Russia – because I know I’m always right on everything”… There’s no bots on this forum you dough head…
*****************************

Not sure whether to take you seriously or laugh at your lack of reading comprehension and powers of deduction.

What is the “Typical” “Liberal Twitter Conspiracy”. It is a fact that Kenney established an Alberta Oil War Room.

As for the bot, I didn’t say Russian bot – I was simply replying to the ‘Shark Tank’ commentor he/she mentioned Putin. Your brain jumped the gun on him/her mentioning Putin ‘out of the blue’ and me mentioning bot.

As for this “Anyone that doesn’t agree with me must be a bot from Russia – because I know I’m always right on everything”. Why the quotes… did I say this? By all means disagree with me – but if you lack fact – it’s not my fault. If you can’t handle a debate it’s you that has the problem.

Reminds me of the school yard bully who uses ‘typical’ in an attempt to demean someone, or points and laughs at someone for no reason than to hide their own insecurities.

I didn’t vote for Trudeau and I wouldn’t vote for Kenney, or Scheer. I do not pick a colour and vote blindly for idiots the are lying to me. I will leave that simplicity for someone else.

I still want to know why Kenney needs a war room and why he made it a corporation? I am sorry that I made fun of your potential idol…I just can’t suffer idiots anymore.

#71 LP on 10.24.19 at 11:33 pm

#27 FreeBird on 10.24.19 at 5:48 pm

Wonderful advice. I speak as one whose father died from the effects of dementia. I would only add that Sam should look for the humour always, and there will be humour.

I will never forget the day I arrived for a visit to find Dad in his wheelchair at the end of the corridor nearest the dining room in the nursing home. He was studying the passing wheelchairs intently…the former cop was checking them for stolen licence plates.

#72 DON on 10.24.19 at 11:36 pm

Sam is a good Grandson and Man of integrity. All the best in life for you!

#73 DON on 10.24.19 at 11:42 pm

Ustabe and IHCDT9

Nothing quite like wood heat. Can open the doors and let the fresh air in.

I go through 3 cords. I leave the splitting for exercise throughout the winter.

Once upon a time I was a log Sawyer..best job ever.

#74 AACI Homedog on 10.25.19 at 12:10 am

Awesome, Garth, all through, especially the 1st & last paragraphs.

#75 East Side John on 10.25.19 at 12:58 am

Hahahaha, Garth you don’t know “Jack” about living on Vancouvers East Side. Large sections are so gang and crack thug infested that you don’t walk at night. Find me a single woman who gets off the Sky train after dark and doesn’t fear crack junkie rapists behind every hedge. The streets between Knight and Nanaimo are either gay strolls for m ale sex and thousands of hookers and pimps controlling the blocks between 41st and Waterfront. BTW, which is half the city. Buddy, you ain’t been there.

Believe me, the kids will care where they grow up as the majority of schools are fight clubs and sinister sex clubs where teachers push gender bender banter onto kids as young as five. The suburbs are worse, if you can imagine. The ethnic gangs just hate it when you don’t buy dope off them. Bullets fly on every corner. Hells Angels are sweet and sedate by comparison.

Don’t send delusional yuppies into my neighbourhood, people there are trying to get out.

#76 Mark on 10.25.19 at 2:00 am

Has anyone used Martin A Nash techniques.

How are his video.

#77 Sail Away on 10.25.19 at 3:09 am

For Samuel: I have found that trying to coordinate bank actions with a POA is immensely complicated. The banks throw red tape around every action: they won’t allow you online access, they won’t let you do anything with registered accounts, they won’t accept cash transfers out of the account.

After getting extremely frustrated trying to efficiently manage money and pay bills, my solution was to create joint accounts before dementia had progressed too far and consolidate everything there. Consider the TFSA will be untouchable via POA before death, so plan holdings accordingly.

The banks are not friendly to POA and self-directed accounts.

#78 Stan Brooks on 10.25.19 at 3:58 am

NF, Collingwood, Blue ‘mountain’, the crown ‘jewels’ of GTA where the herd crowds on the weekends in order to spend ‘quality’ time with 4 hours drive one way in unbearable traffic.

QEW around Oakville is an absolute nightmare through the day. Bumper to bumper all the way.

Featuring the nasty smoke around Hamilton polluting the whole area…

The only other option is the crowded malls with the herd moving around in circles over and over and over…

I think I saw once bedouins tents on the grass next to the falls in NF, I think that is the best entertainment you can get there except of course the cheap shitty piece of old/warmed up pizza.

Port Dalhoise and St. Catharines, the only somehow ‘enjoyable’ places to visit.

And this is somehow sold as ‘cheap and nice places to live in’. Absolutely pathetic.

For 1/3 to 1/2 of the price of a house there you can get much better dwelling with much better weather in Spain for example, close to the beaches.

#79 Sail Away on 10.25.19 at 4:00 am

#46 SoggyShorts on 10.24.19 at 7:59 pm
@ sail away & Yanniel
RE: Tax GAIN harvesting?

I believe it was you 2 who answered my initial question, so here’s some background:
♦Couple retiring @41/40
♦Need ~40K per year to maintain lifestyle
♦Joint non-reg made ~40K in cap gains in 2019

According to https://simpletax.ca/calculator
We can each earn up to 24K in capital gains per year tax-free.

Does it, therefore, make sense to sell off and immediately rebuy similar holdings to harvest the cap gains since our tax bracket is so low?

If we don’t then someone at some time will have to pay taxes on the cap gains either because of a change in rules where cap gains are treated as income or 100% inclusion, or when we die and they are deemed as being sold before going to our beneficiaries, right?

Or in the future for some unforeseen reason, we may need/want to take out a larger portion and will be taxed more heavily.

————————————-
Your age is sort of irrelevant except for CPP/OAS, which won’t apply here.

I’m not a tax expert, and spend my time figuring out what benefits my situation the most, rather than all options for everyone, so view any advice I give in that light.

I assume you’ve already examined your overall situation, including capital gains exemption when drawing down your corp (hopefully you’re selling it?) and tax advantages based on province for dividend stocks.

Wouldn’t you have to live off savings for the year and sell/repurchase equities while having no other income in order to pay no cap gains tax on the $24k? In that case, you’ve already paid your nominal tax rate for your savings, so it doesn’t seem like it would be beneficial.

#80 Stan Brooks on 10.25.19 at 4:10 am

That can cost eight grand or more a month in many cities.

I thought this is a ‘social’ country, in Germany, Spain, (almost the whole EU goes here) ….. such facilities are almost wholly subsidized.

On the praying part, I completely agree. A lot of praying.

The quality of care and attention in a subsidized public facility is often what you would expect from a state-run institution. Many people would not wish their loved ones – stricken with Alzheimer’s – to be there if they had a choice. – Garth

#81 Stan Brooks on 10.25.19 at 7:23 am

The sheeple should prepare for even higher house prices say the owners of this place:

https://ca.yahoo.com/finance/news/canadian-homes-to-get-even-more-expensive-185628920.html

…..because of disposable income growth…..

…CMHC says overvaluation in Vancouver and Toronto has come down, gradually bringing prices more in line with fundamentals….

1.5 million shack and 800 k glass condo in GTA is ‘fundamentals’…

baa, baa, baaaaaaaaaaaaaaaaaaaaaaaa

#82 PA on 10.25.19 at 7:34 am

#7 Wait There on 10.24.19 at 3:05 pm
Ok so we use the rule of forty for retirees.
To afford a rent of 2.5K, one would need a 100K income stream. To acquire a 100K income stream a balanced portfolio on average would need approx 2 Million Dollars.
Hey high rent has also screwed retirees. No?
*************************
And this is why capital gains inclusion rate need to stay at 50%.

Having a 2M portfolio with an RRSP alone would be a fabulous accomplishment but for most folks to get any where near that number (unless they are lucky, a gifted investor, or a gifted gambler) will need the full capacity of the TFSA and non-registered accounts.

Those on the far left who want to tax risk generated returns at greater than 50% inclusion rate, should be forced to have an added tax inclusion rate on their minty DB plans in twice the measure since they take no risk to create it.

#83 Stan Brooks on 10.25.19 at 7:39 am

Increase in supply will apparently drive prices up according to CHMC.

Should we say: baa or moo?

#84 Stan Brooks on 10.25.19 at 7:53 am

https://ca.finance.yahoo.com/news/global-wireless-prices-ranking-no-161332628.html

Global Wireless Prices Ranking Will No Longer Feature Canada

https://www.huffingtonpost.ca/2019/01/29/wireless-prices-canada-world_a_23656279/

Canada’s Wireless Providers Make Most Revenue Per GB In The World: Study
Canadian telcos make 70 times as much per gigabyte, per person as telcos in India, and 23 times as much as Finland.

If you’ve been following the news you may not need reminding, but another study has come out showing that Canadian wireless providers make the most money off their customers, far ahead of 30-odd countries studied.

Exceptional ability by the rulers/owners to skin the sheeple many times over.

That’s your limit for today. – Garth

#85 Bytor the Snow Dog on 10.25.19 at 8:06 am

#67 IHCTD9 on 10.24.19 at 10:46 pm sez:

“#61 Gravy Train on 10.24.19 at 9:45 pm
#11 IHCTD9 on 10.24.19 at 3:36 pm

“Gravy, you’re grid-tied, aren’t you?” Yes.

“There goes your argument too!” Explain.
———

IMHO, grid tied solar or wind is not bonafide green power as it uses the grid to eliminate the fundamental problems thereof. You don’t have to worry about peak loading, a week of cloudy weather, total power consumption, or electricity storage. You’ve got the grid backstopping you, and at the end of the wire is a nuke, coal plant, or hydro dam making it happen.

You probably already know how much more expensive, complicated, and compromising it would be to go completely off grid. Probably more than triple the cost, and still not allowing you to have a long hot shower whenever you want! Real green power (to me) does not need a gas turbine generator 100 miles away backing it up.

That said, if I ever did it; no question it would be a grid tied system just like yours. Any other way is not viable unless the entire house was built with off grid solar in mind.

Grid tie could be great. Think of millions of homes having grid tie systems in Canada, we’d be off to something good, as then my house and a couple neighbours might help power your house when we’ve got sun/wind, and you don’t. Then we could start taking entire power plants offline once the grid becomes flush with enough surplus privately produced solar/wind. It would take millions and millions of systems though, all way bigger than needed for the one house, and everyone dumping into the grid.

Nice thought, but I doubt the Provinces would allow this to happen, too much “power” to the people with that idea, not to mention good-bye OPG.

The context of my OP was the viability of green power (solar in this case) as a real world, stand alone system. Sure it’s possible for some existing residences at great expense, and compromise, but problematic for much more than that.”
—————————————–
I was just about to chime in on this but you beat me to it. It’s amazing how the greenies are disingenuous about their solar and wind saviors isn’t it?

#86 Billy on 10.25.19 at 8:12 am

#29 Sam

87 years old with significant needs. If possible, buy an annuity that will produce a stream of income for the known costs – then invest the rest in a B&D portfolio that is liquid in case of sudden extra costs. The rate of return built into annuities isn’t great either, but it beats GIC’s and provides certainty for life.

Nope. Annuities are a poor choice in a low-rate environment. Better choices with liquidity exist. – Garth

#87 crowdedelevatorfartz on 10.25.19 at 8:23 am

@#74 East side Johnnie
“The streets between Knight and Nanaimo are either gay strolls for m ale sex and thousands of hookers and pimps controlling the blocks between 41st and Waterfront. BTW, which is half the city.”
+++++

Gee I must have missed the “thousands of hookers and pimps” last time I rode my bicycle through that stretch of town.
Not to mention the lack of NIMBY activists that protest everything at the drop of a hat.
” thousands of hookers and pimps controlling 41 city blocks” should make headlines or the 6pm news…. guess I missed that day.
Or your exaggerating?

#88 Sam on 10.25.19 at 8:31 am

Why would she/he sell in a temporary decline? When a person needs income, GICs do not cut it. – Garth

……..

um, ,please consider a blog entry on sequence of returns risk which you ignored in my previous post.

She’s 87 yrs old. Unless she can live on the yield alone of the capital (which im assuming is not the case), then sequence of returns risk comes to play here. If this 87 yr old put all her monies into a 60/40 portfolio and 2008 occurs, her nest egg would have dropped by approx 17%. And again, unless she can live on its yield, she needs to sell capital to pay the pills, ergo- sell low.

didn’t think i needed to spell it out?

The 2008 portfolio decline lasted 12 months before markets (and valuations) restored. Never sell in a storm. Even when you’re 87. – Garth

#89 Dharma Bum on 10.25.19 at 8:49 am

#43 Niagara Region

I don’t understand why people want to move to the Niagara Region.
——————————————————————–
Why?

To have constant proximity to that bastion of Canadian culture known as Clifton Hill, of course!

Silly person.

#90 Captain Uppa on 10.25.19 at 8:53 am

Garth, as a financial guy, you may want to re-asses your past comments on population as being incorrect.

Link: https://www.bnnbloomberg.ca/canada-needs-to-get-to-100-million-people-by-2100-blackrock-s-wiseman-1.1337065

#91 Ponzius Pilatus on 10.25.19 at 8:58 am

RE: wood splitting
One of my favorite TV series is “Mountain Men” on the
History Channel.
There’s a Hillybilly called Eustace.
Lots of posters here remind me of that guy.

#92 Dharma Bum on 10.25.19 at 8:59 am

#73 Don

Nothing quite like wood heat. Can open the doors and let the fresh air in.
——————————————————————-

The only thing better is cooking with wood.

Wood smoked brisket, ribs, chicken, and pork.

Wood fired steaks and burgers.

Mmmmmmmmmmm……doggie!

https://www.youtube.com/watch?v=13gxhHYPuko

#93 Phylis on 10.25.19 at 9:11 am

42 Deplorable Dude on 10.24.19 at 7:50 pm Pickering is done in 2026. Better start building now? But wait, why bother. Quebec can supply our demand. It’s already underway. Thank you Quebec.

#94 IHCTD9 on 10.25.19 at 9:27 am

#69 PastThePeak on 10.24.19 at 11:08 pm

I keep waiting for the shoe to drop when a Liberal gov’t will outlaw wood stoves / furnaces [particulate matter pollution ya know] – there was a pretty strong rumour that Kathy Wynne wanted to do that, but fortunately we dodged that bullet and her time was ended…
____

Already happening in the US with those outdoor boilers – although I’m not sure I like those things too much myself. The downdraft gasification outdoor boilers are taking over, zero smoke, but 15 grand and up for a good one, plus the super high temps make them burn out faster too.

Wood heating is getting tougher all the time on other fronts too. Like 300.00+ for a BC of wood cut, split, and delivered. That’s not cheap. There are guys trying to get 150.00 for a FC on KIJIJI. Getting free wood off fence lines and private lots is pretty much done also. Too much money in wood these days for folks to just hand it over for free. It’s eventually going to be mainly for those who own their own woodlots.

If the government outlawed wood for heat, I’d probably keep doing it anyway. Something tells me the primary enforcement would be a snitch line…

#95 Ponzius Pilatus on 10.25.19 at 9:37 am

IHCT
The Tragedy of the Commons personified.

#96 IHCTD9 on 10.25.19 at 9:51 am

#63 crowdedelevatorfartz on 10.24.19 at 10:04 pm
@#59 IHCTD9
“We split it all by hand with a chopping maul.”
++++++

At work I once mentioned splitting wood with a maul and people stopped, looked at me, and said, ” You had your wood split at the Mall?”
OMG.

“Nooooo, I used a maul to split wood.”

Crickets…….

“Whats a maul?”
___

LOL! Seriously though, probably only old schoolers doing any of that work by hand these days since a Chinese splitter is under a grand now.

I remember watching Dad split wood, and was amazed how he could nail the first crack right on the money with the second swing. Definitely one of those jobs that an experienced dude can make look easy.

I made quite a few “cedar shakes” before I could hit the crack regularly on subsequent swings.

Also, my first mauls’ handle did not last too long :D.

#97 Billy on 10.25.19 at 9:53 am

#88 Sam

Couldn’t agree more. At age 87 with major costs locked in for the rest of her lifetime, taking any degree of risk in the market doesn’t make sense if they don’t need to. Yes, annuity rate of return is historically low – but it will guarantee she doesn’t run out of money. B&D is the best option most of the time, but sometimes peace of mind is more important.

‘Peace of mind’ is of little consequence to someone with dementia. The POA holder’s highest duty is to ensure she has enough income to finance her continuing care, which requires income. Annuities and GICs are worthless in this regard. Stop telegraphing your own fears upon others. – Garth

#98 IHCTD9 on 10.25.19 at 10:07 am

#95 Ponzius Pilatus on 10.25.19 at 9:37 am
IHCT
The Tragedy of the Commons personified.
___

Don’t worry Ponzie – I won’t take all the trees.

I’ll leave the Poplar, Willow and Basswood for you :).

#99 calgary rip off on 10.25.19 at 10:18 am

Thank you for your comments.

Oil is something that is needed. Seems unlikely the conservative party will deliver a pipeline at all.

Why?

1)The oil isn’t easy to obtain and is therefore not competitive financially.

2)Pipeline construction is costly.

3)If the pipeline runs through native land this either proves costly or doesn’t happen at all. If it is their land, they must be paid for its use.

There likely are other reasons.

The reality is that other than oil and gas, prices for housing and everything else don’t reflect reality on the prairies for costs.

It is only a matter of when, not if the money runs out. How exactly is everything to be paid for? TAXES. Provincial sales taxes.

#100 Billy on 10.25.19 at 10:19 am

#88 Sam

‘Peace of mind’ is of little consequence to someone with dementia. The POA holder’s highest duty is to ensure she has enough income to finance her continuing care, which requires income. Annuities and GICs are worthless in this regard. Stop telegraphing your own fears upon others. – Garth

I meant peace of mind for the son/family that her needs will be met. 100% agree a POA holder needs to do everything they can to ensure her income. If there is enough money for an annuity that will fund her care for life then that provides greater security than anything with market exposure. I meant no disrespect, but steadfastly advocating 60-40 B&D in virtually all situations strikes me as somewhat self-serving.

Self-serving? What are you talking about? I am providing an expert opinion on a situation presented to me in which affording the cost of continuous care is the main duty of the POA holder. This is not my client. I benefit in no way whatsoever from offering this opinion, nor for running a free blog of advice. Perhaps it’s time for you to state your credentials as a financial whiz or a legal expert on POA fiduciary duties. – Garth

#101 David Hawke on 10.25.19 at 10:26 am

#80 Stan Brooks

That can cost eight grand or more a month in many cities.

I thought this is a ‘social’ country, in Germany, Spain, (almost the whole EU goes here) ….. such facilities are almost wholly subsidized.

On the praying part, I completely agree. A lot of praying.

The quality of care and attention in a subsidized public facility is often what you would expect from a state-run institution. Many people would not wish their loved ones – stricken with Alzheimer’s – to be there if they had a choice. – Garth

Garth is spot on except that the couple I have seen in small-town Ontario, I would not deem fit for my dog let alone a loved human!

#102 Remembrancer on 10.25.19 at 10:28 am

#93 Phylis on 10.25.19 at 9:11 am
42 Deplorable Dude on 10.24.19 at 7:50 pm Pickering is done in 2026. Better start building now? But wait, why bother. Quebec can supply our demand. It’s already underway. Thank you Quebec.
—————————————————
Don’t forget Darlington is getting spiffy new upgrades in the interim – https://www.opg.com/strengthening-the-economy/our-projects/darlington-refurbishment/

#103 Remembrancer on 10.25.19 at 10:34 am

#96 IHCTD9 on 10.25.19 at 9:51 am
#63 crowdedelevatorfartz on 10.24.19 at 10:04 pm
Also, my first mauls’ handle did not last too long :D.

————————————
Use a wedge then?

#104 TurnerNation on 10.25.19 at 10:48 am

I keep mentioning it, how our elite global controllers get us on Energy every single time. Science is to be rationed. We are to be kept running.
(2001-2017 was the t3rr0rism years, every screen blared it daily. We ate it up. That campaign ended)

Now it’s on to the climate gods we must appease. Just think of the children you monster!

The issues provincially and federally are always on energy:
Pipelines
Carbon taxes
Electric car subsidies
Ontario’s Electricity/gas plant scandals last ON election
Cost of electricity
Dofo’s gas pump stickers

On and on. We are not allowed even a progressive modern life. All this wonderful science..all rationed and held back. Jet engine and rockets? Ancient tech, invented in 1930s. I wonder what they have now. Trillions taken from us in taxation during Cold War, Star wars/ICBM 1980s, then War of T3rr0r.

We are not to be free. Our work energy and fear is what must control us. Back to work tax slave, pay your taxes and you;ll get two days off tomorrow.

#105 Ponzius Pilatus on 10.25.19 at 10:55 am

IHTC
MountainMen is auditioning for next season.
Tell them Ponzie sends you.

#106 Remembrancer on 10.25.19 at 11:04 am

#104 TurnerNation on 10.25.19 at 10:48 am

(2001-2017 was the t3rr0rism years, every screen blared it daily. We ate it up. That campaign ended)
——————————————————-
You obviously weren’t around in the 70s…

#107 Ponzius Pilatus on 10.25.19 at 11:11 am

https://theprovince.com/opinion/columnists/giesbrecht-pipeline-to-seattle/wcm/138804f4-c05a-4783-b79f-11a2a5b86475
————–
Albertans, why not build a pipeline to Seattle via Montana. Not much longer.
Teach those pesky BCers a lesson.

#108 Penny Henny on 10.25.19 at 11:17 am

#43 Niagara Region on 10.24.19 at 7:51 pm
Also, there has been massive overbuilding in the region, although that wouldn’t explain the suddenness of the drop in prices. (Btw, a doubling in housing prices since 2014 is correct–but not a 300% appreciation.)

I don’t understand why people want to move to the Niagara Region. It’s very noisy: with bird bangers from the wineries, with ships passing through the Welland canal all night long, and with helicopters flying over most of the City of Niagara Falls during sunlight hours. Simultaneously, it a rather dull place. It’s also become very congested. If folks are hoping to commute to Toronto, the QEW is now so thick with traffic that it takes almost 3 hours in the morning from NF to get to Toronto.
/////////////////

Keep looking at the North West side of Welland.
But not to close to Niagara college (too many student rentals) and not right by Foss st (occasional odors from pot farming greenhouses in Pelham).
The city is the right size (pop. 53,000) and has everything you need. Small hospital in the city but only 20 minute ride to a great facility in St. Catharines. If you have any questions then please ask.

#109 Sam on 10.25.19 at 11:24 am

#88 Sam

re., Billy

Couldn’t agree more. At age 87 with major costs locked in for the rest of her lifetime, taking any degree of risk in the market doesn’t make sense if they don’t need to. Yes, annuity rate of return is historically low – but it will guarantee she doesn’t run out of money. B&D is the best option most of the time, but sometimes peace of mind is more important.

……..

VERY few Canadians have enough capital to simply live off its yield. We are living longer, so our monies needs to work for us. So Garth’s point of a 60/40 portfolio is well taken. Times have CLEARLY changed

HOWEVER, my point was , people need to understand RISK. And that a 60/40 isnt some holy grail. This is why i have asked Garth to kindly consider a blog entry discussing ‘seqence of returns risk’ (for those close to retirement) so loyal readers can understand what it means (those that retired in 2008 DO KNOW what it means, learned the hard way). Person A and B retire with the same portfolio balnces, $1,000,000 , both use the same 60/40 allocation, same etfs. All the same. And have the SAME expenses yearly.

Person A retires in 2010 type market. Person B retired in Jan 2008 . NO contingencies in place for the first few yrs of retirement (for market short term activity that can PUNISH a retirement next egg) and sequence of returns risk was never discussed with either client. They both had no other savings and 60/40 needed to fund monthly bills—–

you think person A is a happy camper? :)

The person in question is not retiring. She is dying. Get a grip. – Garth

#110 Phylis on 10.25.19 at 11:25 am

#102 Remembrancer on 10.25.19 at 10:28 am Yep that gets it to 2050 something. After pickering the Projected emergency load level will be met. Beyond that Quebec will still be needed.

#111 Billy on 10.25.19 at 11:38 am

#88 Sam

Didn’t realize I needed credentials to voice a dissenting opinion.

There is a sharp difference between expressing an opinion on a financial strategy, and seeking to give others financial advice, when unqualified to do so. – Garth

#112 East Side John on 10.25.19 at 11:55 am

#87 Crowd, so you avoid mentioning the menacing schools , the ethnic drug gangs, the street trade, the crack heads and junkies, the bullets flying, just to suggest you ran out of fingers and toes to count the whites while riding your bike? Friend those Nimbys are out in full force as hookers give bliwjobs in the front yards of their homes. Central Vanc east side, between 41st and Hastings, from Knight to Nanaimo is a drug soaked ghetto, a war zone, a shit stain of monumental proportion. Around the Skytrain stations there are regular rapes and muggings. People there live in cages and hold baseball bat while they sleep. Mr Pleasent is Pimptown Central and don’t dare dare stop your bike there and ask the time if day. West End, just the same, from any apartment window you look down on fancy pants professionals pick up the boys along Davie be and Denman night and day. Stanley Park is a lined with naked men seeking Anon at each pull away. The False Creek waterfront behind Science World all the way to Yaletown is dope and depravity. It was once touted that new condo owners would send their kids to play in the park, not, ground is covered in used condoms and needles.

I won’t mention the sewage soaked beaches because I know that you desperate Van Wankers freak out getting outed for hypocrisy, but truth is truth. Vancouver is a skuzzy shit hole, and the East Side, is no place to raise children.

#113 IHCTD9 on 10.25.19 at 12:20 pm

#103 Remembrancer on 10.25.19 at 10:34 am
#96 IHCTD9 on 10.25.19 at 9:51 am
#63 crowdedelevatorfartz on 10.24.19 at 10:04 pm

Also, my first mauls’ handle did not last too long :D.

————————————
Use a wedge then?

____

Wedges are equally good at destroying a perfectly good piece of hickory as the far side of a bucked round – maybe even better. :D

#114 IHCTD9 on 10.25.19 at 12:24 pm

#105 Ponzius Pilatus on 10.25.19 at 10:55 am

IHTC
MountainMen is auditioning for next season.
Tell them Ponzie sends you.
___

I Googled up look at the cast of “Mountain Men”.

I am much too coarse and rough around the edges looking to fit into that crew.

Plus, they’d all quit out of beard envy if I got hired on.

#115 SimplyPut7 on 10.25.19 at 12:27 pm

#47 Brian Ripley on 10.24.19 at 8:09 pm
Yes, I am aware big oil and lazy car companies prevented the last electric car revolution. I am hoping this time they are serious about going into the electric car business since they do have the technology to meet needs of most people who drive cars for short distances (e.g. city driving).

The methane in the arctic is a problem, not sure what the best solution for that is since the arctic is so large and the problem is widespread.

#58 yvrmc on 10.24.19 at 9:39 pm
I’m not vegetarian or vegan – both of those groups need to accept the fact they are not that innocent, animals are killed to ensure farmers actually have produce that makes it to the grocery store for their consumption as well as to stop invasive species from killing other animals or vegetation.

I’m saying less meat and more plants in their natural state free of pesticides and that are non-GMO would be better for the waist, wallet and environment.

#116 DON on 10.25.19 at 12:41 pm

@ Ponzius

Love the mountain men, Tom is the best.

I like watching Eustace’s ingenuity. Like his wood burning truck. Was a shame when the parking brake failed on the hill while trying to reattach a trailer of lumber. The truck got away from him and crashed into the trees. Jealous of them in a way for their wide open lifestyle. Hard work though.

#117 Billy on 10.25.19 at 12:48 pm

#109 Sam

Suggest you have a look at “Retirement Income for Life’ by Frederick Vetesse.

As for the annuity versus B&D issue for an 87 year old, there is no argument that B&D would generate higher income over time – but without the lifetime guarantee of an annuity. Mortality credit works more favorably on annuities the older the person is, while indexation gets correspondingly less expensive with a shorter time horizon. Whether an annuity at today’s rates could provide enough income to meet anticipated future care cost needs could very well be a deal breaker – so conducting a detailed comparison before making any decision would be prudent.

#118 IHCTD9 on 10.25.19 at 1:26 pm

#116 DON on 10.25.19 at 12:41 pm

I like watching Eustace’s ingenuity. Like his wood burning truck.
___

Wood burning truck – ie wood gas powered?

Well, I’ll have to check this show out now!

#119 PastThePeak on 10.25.19 at 1:41 pm

#90 Captain Uppa on 10.25.19 at 8:53 am
Garth, as a financial guy, you may want to re-asses your past comments on population as being incorrect.

Link: https://www.bnnbloomberg.ca/canada-needs-to-get-to-100-million-people-by-2100-blackrock-s-wiseman-1.1337065
++++++++++++++++++++++++++++++++++++++

Good luck for your Liberals to meet their CO2 reduction targets with that!

Population growth is likely the main reason that Canada isn’t tracking to meet their Paris 2030 targets. Adding 350K+ new persons each year probably wasn’t included in the math of hitting 30% below the 2005 target (Canada’s population was 32.7M then, compared with a 2030 forecast of 41M).

Just to note (so Garth doesn’t have a conniption) I am not at all against immigration (everyone of us is an immigrant or a descendent). However, the reality is that more people = more energy use. Full stop. It cannot be ignored for those that *claim* to be serious about the CO2 reduction.

Not specifying per-capita figures into Canadian climate commitments is pure folly. But then again, folly is what governments are best at…

#120 DON on 10.25.19 at 2:21 pm

Would provide links if I could.

Google mountain men Eustace and Preston work on their wood burning truck….they have a wood burning barrel on the back of the truck.

Also Google mountain men fully loaded loss of emergency brake…moral of the story whenever you are on a hill fixing a trailer truck connection…block the wheels.

And you are right about the $300 cord of wood in BC.. .in the populated areas.

#121 crowdedelevatorfartz on 10.25.19 at 3:11 pm

@#112 East side Johhnie
“Around the Skytrain stations there are regular rapes and muggings. People there live in cages and hold baseball bat while they sleep. ”
+++++

Wow a crime wave thats gone unreported.
Unbeleivable.

“Central Vanc east side, between 41st and Hastings, from Knight to Nanaimo is a drug soaked ghetto, a war zone, a shit stain of monumental proportion. ”

Ok. So you dont like East Van. Gotcha.
You’re grossly exaggerating and not worthy of debate.
Bye bye.

#122 Ustabe on 10.25.19 at 3:15 pm

And you are right about the $300 cord of wood in BC.. .in the populated areas.

My age and stage allows me to have my wood delivered, split and ready to stack.

But a few years ago a local charity not associated with United Way or anything national had a deal where you could drop by and buy a permit from them for a donation. This gave you access to the residue left behind after the loggers moved up the hill. They even used their equipment to stack good piles alongside the road.

Good income for the charity, great PR for the logging outfit and wonderful wood for those of us who took advantage…until some idiot dropped a log on his toe or something and threatened to sue.

Not sure what happened to the suit but the whole program disappeared.

I paid $175 for full cords last time I bought. I’ll bet they are around $200 now…full cord, not face cord.

#123 Gravy Train on 10.25.19 at 3:59 pm

#67 IHCTD9 on 10.24.19 at 10:46 pm
“IMHO, […]” There’s nothing humble about you.

“[…] grid tied solar or wind is not bonafide green power as it uses the grid to eliminate the fundamental problems thereof.” What problems? What are you yammering about? Solar and wind power are green because the sun and wind are public goods: no one can be excluded from getting their benefits, and no one’s benefits reduce the benefits to others. For these reasons, solar panels and wind turbines are easily scalable and extensible. The same cannot be said for nuclear power because nuclear power plants are not public goods, by definition. :)

“You don’t have to worry about peak loading, a week of cloudy weather, total power consumption, or electricity storage.” That is correct.

“You’ve got the grid backstopping you, and at the end of the wire is a nuke, coal plant, or hydro dam making it happen.” As well as renewables, such as wind turbines (28%) and biomass (2%).

“You probably already know how much more expensive, complicated, and compromising it would be to go completely off-grid.” Irrelevant. The power company completely supports my use of renewables.

“Probably more than triple the cost, and still not allowing you to have a long hot shower whenever you want!” Non sequitur.

“Real green power (to me) does not need a gas turbine generator 100 miles away backing it up.” Non sequitur. As stated, the power company completely supports my use of renewables.

“That said, if I ever did it; no question it would be a grid-tied system just like yours. Any other way is not viable unless the entire house was built with off-grid solar in mind.” Nothing’s stopping you.

“Grid tie could be great. Think of millions of homes having grid tie systems in Canada; we’d be off to something good, as then my house and a couple neighbours might help power your house when we’ve got sun/wind, and you don’t.” Now you’re getting it! :)

“Then we could start taking entire power plants offline once the grid becomes flush with enough surplus privately produced solar/wind.” Now let’s not get ahead of ourselves.

“It would take millions and millions of systems though, all way bigger than needed for the one house, and everyone dumping into the grid.” My province reviews proposed solar arrays and wind turbines before implementation.

“Nice thought, but I doubt the Provinces would allow this to happen, too much ‘power’ to the people with that idea, not to mention good-bye OPG.” My province is already doing it! I have a locked-in contract. :)

“The context of my OP was the viability of green power (solar in this case) as a real-world, stand-alone system.” Why does green power have to be stand-alone?

“Sure it’s possible for some existing residences at great expense, and compromise, but problematic for much more than that.” Non sequitur.

#85 Bytor the Snow Dog on 10.25.19 at 8:06 am
“I was just about to chime in on this but you beat me to it. It’s amazing how the greenies are disingenuous about their solar and wind saviors isn’t it?”. Ad hominem. Bandwagon effects. An utter lack of critical thinking in your answer. :)

#124 East Side John on 10.26.19 at 4:18 am

#121 Crowded, what’s to debate. East Van is a shit hole and everything I’ve said has been on the news. If the debate you desire is that I not hurt your feelings with the truth about Vanc, well, too bad. I grew up an East Ender, I know everyone I didn’t send my kid to JO or Gladstone for the reason I explained, opting for St George’s. No nobody lives in East Van by choice, if you’re poor don’t try and justify your laziness. You owe it to your kids. Look at the graduation statistics between east and west. East Van and Surrey are tied for dead last and dismal. You want to debate Vance sewage dump into the Bay? There’s great video.