Dr. Garth

So little time. So many questions. Here’s Patient One. Mackenzie.

“I can’t recall you ever giving blog advice on how best to set up an RESP,” he says, proving that he hasn’t paid attention in the past.

I know I should do it before year end for young Alexander, born last July. Any advice on the best way to set one up self-directed?

RESPs are free cash, Mac. Yes, you should make the first contribution before the end of the year in order to get the CESG – that 20% grant the feds will give you for contributing to your kid’s future educational needs. Like, where else can you score a guaranteed 20% return on your money? (Plus check with your province. Several, like BC, also throw free cash at RESPs.)

The max yearly amount to get the full grant is $2,500, but you can put up to $50,000 into the plan in a lump sum if you wish. The money grows tax-free and is eventually distributed to the beneficiary (Alex) to defray schooling costs. At that time it becomes taxable in his hands, but odds are that a low or nil income will mean nothing to pay.

Yup, a self-directed RESP is best. Open it with the bank, with an advisor, or through an online brokerage. Never deal with one of the baby vultures flogging an expensive, fee-laden, pre-packaged plan when you’re hopped up on post-birth hormones. That’s a decision you’ll regret.

Put your contribution into growth-oriented ETFs. No GICs. No mutual funds. The time horizon for Alex is probably close to 20 years – enough time for stock markets to double, then double again. You can always shift into a more conservative portfolio a decade or more down the road. If you miss making contributions, it’s possible to catch up – but only one year at a time. If there are multiple spawn, set up a family plan. That way if one kid becomes a social media influencer and makes billions, the accumulated plan money can be used to school a sibling. If nobody goes to post-secondary schooling, a good whack of the funds can be rolled into your own RRSP. Then you can get a Porsche.

“I discovered your blog about 3 years ago now,” admits Mary, “and your advice has helped tremendously with my own portfolio (all ETFs of course). Thank you so much for freely imparting the investment wisdom that you have no doubt spent many hours learning. And also for the daily laugh!”

I am curious to know your thoughts on my strategy for maxing out my RRSP & TFSA accounts. I am 43 yrs old, make $100k base salary and save about $30k/yr. However, I have no car payment right now, which enables me to save more (my car is only 8 yrs old, and I plan to replace it once my RRSP is maxed).

Let’s assume my marginal tax rate is 33.33%, and I have saved $30k. The way I look at it, I have 2 options: (1) I can put that $30k into my RRSP, and use the $10k refund to top up my TFSA. This will give me $40k invested in both accounts or (2) I can borrow an additional $15k to put into my RRSP, and use the refund to repay the loan. This option gives me $45k invested in my RRSP, but nothing in my TFSA (yet).

I am thus torn between having that additional $5k invested now (only in RRSP’s), but knowing that I am losing out on growth in the TFSA that will not be taxed when I withdraw. At my current savings rate, I do expect to have my RRSP maxed out in 2.5yrs or less; at which point I will continue to max it out and use the refund for my TFSA. Please, will you kindly give me your thoughts? And have fun poking holes at it :)

Hey, how can we make fun of somebody with a 30% savings rate when the average is less than 1%. You, Mary, are a financial princess. As for your question, investing in an RRSP to fund a refund which is then stuck in a TFSA is like mugging Bill Morneau in the alley behind his mansion. Taxes are deferred plus you get to load up two investment vehicles where there are no no sticky CRA fingers.

Borrowing to fill an RRSP is also sound when the refund’s used for loan repayment.  The best choice, though, is likely Option 1. RRSPs give tax-deferred growth. TFSAs give no-tax gains. If you have a defined benefit pension plan,  starving the RRSP in favour of the TFSA makes even more sense. The steerage section also wants to know if you’re single.

“Love your blog over the last 3 years,” says Bob, nicely sucking up, “and have turned many friends onto it. Need your trusted advise please..”

After working overseas for 12 years and repatriating to Canada my wife and I decided to rent here in Edmonton until we decide to buy a home hopefully in Victoria. We are looking in the price range of $650K to $950K.

We are both 62 years old collecting a monthly pension of $1200 from my previous employer plus our take of CPP.  Our total savings of over $1.6M is with a financial advisor Wood Gundy here in Edmonton generating a meager average of 4% per year over the last 5 years.

Realize we do not have that magic crystal ball but what are your thoughts on the present Victoria housing market?  I have been preapproved for a $450,000 mortgage at 2.56% and would like to use that cash with a down payment of $550,000 from my account towards the purchase of a house. Should we wait or should we buy?

First, get a new advisor. That is an abysmal rate of return over the last five, when balanced portfolios added at least 50%. Second, I hope you have been drawing income from the portfolio, since living on $1,200 a month plus government pogey is pathetic. That portfolio should be kicking out seven or eight grand a month. And if that were the case, moving to the Island would be a lot less painful.

This is not a question about the Victoria market, since it’s unlikely to bubble or crash, but about you. In your 60s and retired, do you really want to take on a fresh $450,000 mortgage? Also, by sucking more than half a million from your investment account you’ll materially reduce its ability to fund income. And according to my Rule of 90 (ninety minus your age = amount of net worth in a house) this is not a prudent strategy.

Best move is to fire the firm. Hire a new guy. Have the portfolio give you an unchanging monthly paycheque and lease far swishier digs than you could buy. Start acting like a millionaire,

 

111 comments ↓

#1 not 1st on 11.25.19 at 3:51 pm

Economic destruction thy name is Liberal.

https://globalnews.ca/news/6214865/maritimes-senators-cn-rail-strike/

https://www.bnnbloomberg.ca/layoffs-hit-farmers-chemical-firms-as-cn-rail-strike-continues-1.1353028

#2 clayton604 on 11.25.19 at 3:54 pm

Garth.. you didn’t answer Mr. Edmonton –> Victoria’s question. He has decided he wants to buy a home.. he just doesn’t know when.

Yes definitely get a new investment advisor.. but he really needs a sit down with a financial planner to look at everything.

Assuming the $1.6M is in a non-registered account (safe-ish to assume since he is getting a pension), he would be in a much better position to liquidate the part of the portfolio needed to purchase the home from his investments, buy the home, then obtain a mortgage to fill the hole in the investment portfolio with tax deductible interest. Same position, but way farther ahead tax wise.

And for Ms. 43 @ 100K.. she should also consider investing in a non-registered account.. Since maxing out her RRSP is turning her cap gains and dividends into fully taxable income. Recommend she look at a SWAP based ETF to ensure capital gains treatment on Non Registered Portfolio.

You always speak as to how the market is up.. but correct me if I’m wrong.. aren’t the majority of the gains realized by the market capital in nature?

#3 not 1st on 11.25.19 at 4:01 pm

Good news, we should meet our paris targets this month. Shutting down our GDP, parking our trains, stopping shipment of unnecessary things like oil, potash, minerals, grains, lumber, construction materials, consumer goods really did the trick. We didn’t need all those things anyway.

Thanks Justin. Today is a very green day for the country.

#4 Yukon Elvis on 11.25.19 at 4:15 pm

4% is pathetic. 8% plus is more the norm. Dump your advisor. Buy a condo for cash. Travel.

#5 oh bouy on 11.25.19 at 4:21 pm

@#152 Dharma Bum on 11.25.19 at 2:27 pm
#137 oh buoy

Honest question – how did you come to this conclusion?
——————————————————————–

The fact that the UN is a sham and a farce and a hypocritical gang of criminal governments is well documented and recognized by legitimate governments that refuse to kowtow to its biased agenda for political gain.

The articles and papers on this subject are myriad.

https://providencemag.com/2018/09/failure-un-case-united-nations/
____________________________________

Most likely a myriad of articles/papers going the other way as well. I’m guessing you only read the ones that fit your narrative.

#6 dakkie on 11.25.19 at 4:30 pm

Canadians Are RUNNING OUT Of Money As Canada Enters Recession!
https://www.investmentwatchblog.com/canadians-are-running-out-of-money-as-canada-enters-recession/

#7 Dutchy on 11.25.19 at 4:40 pm

Ahhhhhh,
The rule of 90 !!

79 years old and recently sold my home.
(Not in LML or GTA area)
Now continuing to live it up, spending more than ever before and net worth increasing every month.
Projection is this will last forever….

My “rule” number was around 75 (not 10)
Sold too soon ??
House prices are still going up, and up, and up.

#8 Gulf Breeze on 11.25.19 at 4:52 pm

8% returns are inherently risky. The guy is 62. Your advice here is not cool, Garth. The stock markets are poised for a correction and sheltering in bonds, reits, etc..in the current environment is a very crowded strategy.

Most independent financial advisors would gasp in horror at your recommendations. You aren’t taking this guy’s age into account.

A balanced, diversified portfolio aiming to return about 6% over time is well suited to a person with a quarter-century time horizon. Especially one with $1.6 million. Markets are always poised for correction. And they always recover. Stop being a wuss. – Garth

#9 the Awakened One on 11.25.19 at 4:54 pm

Haha, Garth!

Didn’t I know that Buffalo Bill has a mansion?!
You seriously should consider writing thriller novels… sending goosebumps under people’s skin.

” The steerage section also wants to know if you’re single.” LMAO :O))

#10 JSS on 11.25.19 at 4:54 pm

If Bob stays in Edmonton, with $1.6M invested properly, he should be able to afford a high-end home, in a decent part of the city.

#11 Shawn Allen on 11.25.19 at 5:13 pm

Fiat Money to be worthless?

Dakkie at 6 posted a link warning about our fiat money.

Famed Author Yuval Noah Harari (Sapiens, Homo Deus and 21 lessons for the 21st century said in Homo Deus (page 199 in the paperback edition) that:

“If somebody protests that these [dollar bills] are just worthless pieces of paper and behaves as if they are only pieces of paper, he won’t get very far.”

It’s all well and good to point out that our currency is fiat (based on trust) but anyone actually living their lives without trusting our currency simply won’t get very far.

#12 TheDood on 11.25.19 at 5:19 pm

#10 JSS on 11.25.19 at 4:54 pm
If Bob stays in Edmonton, with $1.6M invested properly, he should be able to afford a high-end home, in a decent part of the city.
_______________________

But why would he do that?

If Bob has 1.6M that pays him a substantial, sustainable monthly paycheque – IF INVESTED PROPERLY – why not rent in downtown Victoria (he can easily afford it) and spend the rest on travel, beer, golf, motorbikes, and weed?

Why would anyone consider a home purchase at 60+? Enjoy the spoils of your work instead.

#13 IHCTD9 on 11.25.19 at 5:25 pm

#5 oh bouy on 11.25.19 at 4:21 pm
@#152 Dharma Bum on 11.25.19 at 2:27 pm
#137 oh buoy

Honest question – how did you come to this conclusion?
——————————————————————–

The fact that the UN is a sham and a farce and a hypocritical gang of criminal governments is well documented and recognized by legitimate governments that refuse to kowtow to its biased agenda for political gain.

The articles and papers on this subject are myriad.

https://providencemag.com/2018/09/failure-un-case-united-nations/
____________________________________

Most likely a myriad of articles/papers going the other way as well. I’m guessing you only read the ones that fit your narrative
——

C’mon ob. DB posted a good link from a decent source, with like 10+ examples where the UN has done a horrible job, and listed events did actually happen, and you can look them up ( I did).

Now, how about posting a link or two to one of those many articles you claim to exist where the UN’s recent accomplishments in enforcing a moral authority, and peace (or at lest where they actually DID something to avoid the slaughter of thousands of people rather than just stand around and “observe”)?

Dude, sometimes it’s just better to admit it when a guys’ assertions appear to be more or less correct (and DB definitely is on this one.)

#14 mark on 11.25.19 at 5:31 pm

Wondering if anyone has a tool/or website that can correlate the ZPR preferred market with other global assets and what there affect is on portfolio?

Have found some great sites, but cant find data on the Canadian preferred share asset market.

I have modeled it as a long bond(pretending).
Then modeled it as the TSM(Total Canadian stock market). I feel most likely some where in-between!.

Preferreds have very little correlation to bond market from the data I see, about .16 from stats I see.

Thanks in advance.

#15 Sam on 11.25.19 at 5:48 pm

‘Second, I hope you have been drawing income from the portfolio, since living on $1,200 a month plus government pogey is pathetic’

………

no, its not. For someone with your financial wealth it can be perceived as ‘pathetic’.

speaking of which

He has $1.6 million. It’s pathetic. – Garth

#16 Keyboard Smasher on 11.25.19 at 5:48 pm

Dr. Garth, I’ve been experiencing rectal hallucinations since my last Jimson weed trip. Is there a herbal remedy?

Also which stonks do I buy?

#17 crowdedelevatorfartz on 11.25.19 at 5:59 pm

@IHCTD9
“To me, the answer is simple. Round them up and put them to work. 8 hours a day, 5 days a week, for room and board. ”
++++

Years ago I tagged along one night with a friend who cleaned the city bus stops in downtown Vancouver after 2am when the buses stopped running.
Friday and Sat night was a gong show.
If ANY bums got mouthy or threatened him ….baaa-WOOOOSH with a pressurewasher and soap /disinfectant mixture.
Like drowned soapy rats they were……
Apparently , in the Summertime the cops would bring the really smelly ones by and get him to hose them off before booking them.

I always thought that a city owned 10 ton delousing truck with a grappling hook/ net that could catch them and hold them while dripping them in a warm soapy tank in the back of the truck, then a rinse tank….would be the way to go.

#18 Barb on 11.25.19 at 6:04 pm

Yes Bob kick “Good Wundy” to the curb…husband was with them years ago, not happy with them.

Go to Garth.
Ice cream on the cake.

#19 Sail away on 11.25.19 at 6:08 pm

#10 JSS on 11.25.19 at 4:54 pm

If Bob stays in Edmonton, with $1.6M invested properly, he should be able to afford a high-end home, in a decent part of the city.

—————————-

But then he’d have to stay in Edmonton.

#20 JSS on 11.25.19 at 6:14 pm

#13 TheDood on 11.25.19 at 5:19 pm

I meant to rent.

#21 Kilt on 11.25.19 at 6:26 pm

Mary’s (43) question.
“Borrowing to fill an RRSP is also sound when the refund’s used for loan repayment. But in this scenario you still have $5,000 in debt”
There is no debt.
Scenario 2. Take 30k of your own money, and 15k borrowed and put in RRSP. Get a 15k Refund to pay off loan. She is planning on getting back about 1/3 of what she puts in her RRSP.
So you really aren’t answering her question. She is trying to compare a scenario of 30k to invest that results in
Scenario 1) 30k in an RRSP and with the 10k refund invested in a TFSA or
Scenario 2) 45k in an RRSP.

The correct answer would depend on your age or when you plan to retire, and how big your RRSP is already. If you already have half a million in your RRSP and are in your early 40’s I would opt for Scenario 1. But, if you are nearing retirement, have a smaller RRSP and lots of room, then why not load up and take the extra 5k.
For someone who is 43, I wouldn’t focus on maxing out my RRSP. A better focus would be to max the TFSA. Leaving room in your RRSP for future income when your 100k salary might increase.
I would put enough money in my RRSP to keep my as much of my income out of the higher tax brackets as possible.

Kilt.

#22 AGuyInVancouver on 11.25.19 at 7:16 pm

“After working overseas for 12 years and repatriating to Canada my wife and I decided to rent here in Edmonton until we decide to buy a home hopefully in Victoria. We are looking in the price range of $650K to $950K.”
_ _ _
Once again proving that given the choice, people with the means would all get the hell out of Alberta for BC. I laughed at the poster who suggested “If Bob stayed in Edmonton…” Why subject poor Bob to such unreasonable torture?

#23 kommykim on 11.25.19 at 7:18 pm

RE: He has $1.6 million. It’s pathetic. – Garth

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

Yup, even if he (gasp) invested in GICs yielding 2% he would be generating $2,666 per month…

#24 Flanneur on 11.25.19 at 7:33 pm

Wood Gundy is close to a thief. Check your fees. Ask for a total of all cost associated with your portfolio. In my personal experience I removed my grandfather’s money from them as there was just under 5% ongoing fees! Also they had an 87 year old in a venture capital fund he could not access for another 8 years! And, there is still a CIG fund I cannot liquidate period. I put him in low cost etfs gic and hisa and his return doubled and cut his risk by 2/3rds.

#25 crowdedelevatorfartz on 11.25.19 at 7:37 pm

Bob.
Dont buy in Victoria. Too expensive.
Look around Courtney on the Island.
Just as nice, smaller, new hospital, etc…..
You can always spend a weekend in Victoria and when you see how bad the traffic is……be glad its only a weekend.

Interesting article about melting Glaciers……

https://www.reuters.com/article/us-climate-change-swiss-backstory/backstory-slowing-down-to-see-switzerlands-melting-glaciers-idUSKBN1XZ0UJ

#26 Ustabe on 11.25.19 at 7:43 pm

@IHCTD9, Crowded, et al:

You realize that in the main the people you want to round up, put to work and pressure wash, etc carry significant mental health issues, do you not?

Yes there are outliers who live the lifestyle but for the most part they are touch and go types who crawl back home.

4 Pillars works, InSite works, Dusk to Dawn works…we have seen so in BC. Even your favourite Con, Steven Harper, saw that, going so far as to authorize a number of forward thinking initiatives designed to shed light on the issue(s).

Referring to them as you do, gleefully recounting how cop buddies allow a pressure washer guy to spray them, etc takes away their humanity…something I sure don’t believe in.
It diminishes you as well.

When you guys post like you do, it simply reinforces why the CPC will not form a federal government soon, not with attitudes towards your fellow man like you vocalize.

Remember, there but for the grace of God go I.

#27 crowdedelevatorfartz on 11.25.19 at 7:45 pm

Oh My my.

Who leaked THIS intel to Reuters?
The Israeli’s? The Americans? Iranian Military Officers?

Only time …and a few executions in Iran….will tell.

https://www.reuters.com/article/us-saudi-aramco-attacks-iran-special-rep/special-reporttime-to-take-out-our-swords-inside-irans-plot-to-attack-saudi-arabia-idUSKBN1XZ16H

#28 Shawn Allen on 11.25.19 at 7:51 pm

Jimmy Pattison on Climate Change

Jimmy Pattison is a highly successful billionaire (which is the only kind of billionaire of course).

He was on BNN today and emphasized that climate change is THE most important issue for his group of companies. He supports efforts to improve the environment. He owns a company that makes plastic packaging. He is going to try to phase that packaging out over time.

But what does he know compared to the crowd that thinks “Canada” should do nothing since it is less than 2% of CO2 emissions?

#29 Flop... on 11.25.19 at 7:52 pm

crowdedelevatorfartz on 11.25.19 at 7:37 pm
Bob.
Dont buy in Victoria. Too expensive.
Look around Courtney on the Island.

“”””””””””””””””””””””””””

I’ve only been there once, thought it was o.k.

Had a quick look on zolo, he can get a brand new house there for what he was allowing for a downpayment on a house in Victoria.

He can pay cash and get back to living.

Case closed.

You’re welcome Bob…

M45BC

https://www.zolo.ca/courtenay-real-estate/2507-brookfield-drive

#30 Scott Cordier on 11.25.19 at 8:06 pm

Flanneur, 5% a year on going annual fees, yikes!. GIC’s at 2.75% to 2.85% with no annual 1.25% to 2.0% fees from mutual funds and other money that is not individual investments. We don’t want to get rich on a potential return. Slow and steady is us.

To each his or her own when it comes to money but this trying to push everyone into something or many other things people would never go into with these cut throat low interest rates everyone knows is pure thievery and inflation is more than 2.0% a year. It is pure B.S. as with the 2008 event excuse they keep using over and over.

We moved here from Greece 20 years ago and were taught to save for the future. We have RRSP’s, RESP’s, TFSA’s maxed out and accumulated $750,000. We rent a house and will never be in debt with real estate or otherwise.

#31 Nonplused on 11.25.19 at 8:21 pm

“The money grows tax-free and is eventually distributed to the beneficiary (Alex) to defray schooling costs. At that time it becomes taxable in his hands, but odds are that a low or nil income will mean nothing to pay.”

Hmm I must have misinterpreted this when my kids went to University. I was under the understanding that all you needed to do is confirm enrollment and then “poof!”, the money was yours. You didn’t have to give it to your kids and the government exercised no oversight into how it was spent, sort of like child support payments. The theory behind child support payments is that the money all gets commingled anyway so it’s no use asking mom (or dad) to provide receipts. It’s a waste of time. I thought RESP’s were treated the same. Anyway I spent all of the money and more on tuition and rent, just I paid it rather than giving it to my daughters to pay it.

And I figure turning a large RESP sum of money over to your child at 18 is a recipe for disaster. What would stop them from going out and buying a new Mustang and then wrapping it around a pole? No thanks, I’ll handle the money. It gets spent on education related activities at my discretion, not on spring break trips to Florida.

And a $50,000 lump sum? Why on earth? Education in Canada doesn’t cost that much unless you are going on to be a doctor or something. We (my ex and I) planned to finance the first 4 years and after that they were on their own. At some point they have to practice adulting.

Both daughters are racking up some student loans now, but the totals will be modest when they finish year 6.

#32 Andrewski on 11.25.19 at 8:22 pm

Garth, Re RESP, if someone were fortunate enough to have the $50K to invest upon the birth (or adoption) of their first child, how does the CESG get contributed? Do the Feds throw in 20% every year based on the $2.5K annual max, as if someone was investing annually?

#33 Long-Time Lurker on 11.25.19 at 8:36 pm

#70 FreeBird on 11.24.19 at 6:20 pm
CO2 levels…

https://scripps.ucsd.edu/programs/keelingcurve/

https://earthsky.org/earth/atmospheric-co2-record-high-may-2019

https://skepticalscience.com/print.php?r=77

https://skepticalscience.com/print.php?r=77

…Periods of low CO2 coincide with periods of geographically widespread ice (with one notable exception, discussed below). This leads to the concept of the CO2-ice threshold – the CO2 level required to initiate a glaciation. When the sun is less active, the CO2-ice threshold is much higher. For example, while the CO2-ice threshold for present-day Earth is estimated to be 500 ppm, the equivalent threshold during the Late Ordovician (450 million years ago) is 3000 ppm.

However, until recently, CO2 levels during the late Ordovician were thought to be much greater than 3000 ppm which was problematic as the Earth experienced glacial conditions at this time. The CO2 data covering the late Ordovician is sparse with one data point in the CO2 proxy record close to this period – it has a value of 5600 ppm. Given that solar output was around 4% lower than current levels, CO2 would need to fall to 3000 ppm to permit glacial conditions. Could CO2 levels have fallen this far? Given the low temporal resolution of the CO2 record, the data was not conclusive….

https://scripps.ucsd.edu/programs/keelingcurve/

800,000 years chart.

100,000 years = 19.5mm
1mm = 5,128.20 years
Start of CO^2 increase from a low: 4mm
4 (mm) x 5,128.20 = 20,512.8 years
-Hence, CO^2 started increasing to reach current levels from a low starting 20,512.8 years ago.

-Last similar rise in CO^2 from a similar low:

100,000 + 6.5mm = 33,333.3 years

CO^2 levels increased at a very similar rate 133,333.3 years ago.

Fred Flintstone should have bought an electric car.

#34 Long-Time Lurker on 11.25.19 at 8:37 pm

https://principia-scientific.org/inside-the-climate-change-money-machine/

…F. William Engdahl, in a perceptive essay titled ‘Climate and the Money Trail’ in the Journal NEO, published on September 25, 2019, said:

“The links between the largest financial groups, central banks, and global corporations, to the current push for a radical climate strategy to abandon the fossil fuel economy in favor of a vague unexplained Green Economy, it seems, is less about a genuine concern to make our planet a clean and healthy environment to live.

“Rather it is an agenda, intimately tied to the UN Agenda 2030 for a “sustainable” economy, and to developing literally trillions of dollars in new wealth for global banks and financial giants who constitute the real powers that be.”….

#35 Long-Time Lurker on 11.25.19 at 8:38 pm

https://principia-scientific.org/icelands-former-pm-melting-glaciers-are-nothing-to-panic-about/

Iceland’s Former PM: ‘Melting Glaciers Are Nothing To Panic About’
Published on November 25, 2019

Written by Thomas D Willams PhD

…“Our climate changes, but humans adapt. Instead of scaremongering, we should approach this situation on a scientific and rational basis,” Gunnlaugsson writes in the latest issue of the Spectator.

While distancing himself from the label of climate change “denier,” Gunnlaugsson insists that it is “nonsense” to suggest that humans need to “sacrifice the achievements of modern civilization if we are to save the planet.”….

#36 IHCTD9 on 11.25.19 at 8:40 pm

#26 Flanneur on 11.25.19 at 7:33 pm
In my personal experience I removed my grandfather’s money from them as there was just under 5% ongoing fees!
——

INSANE.

I bailed on the [email protected] because their 2.4% started grating on me after I began reading here.

Good on you watching out for grandpa.

#37 IHCTD9 on 11.25.19 at 9:13 pm

#28 Ustabe on 11.25.19 at 7:43 pm
@IHCTD9, Crowded, et al:

You realize that in the main the people you want to round up, put to work and pressure wash, etc carry significant mental health issues, do you not?

Yes there are outliers who live the lifestyle but for the most part they are touch and go types who crawl back home.

4 Pillars works, InSite works, Dusk to Dawn works…we have seen so in BC. Even your favourite Con, Steven Harper, saw that, going so far as to authorize a number of forward thinking initiatives designed to shed light on the issue(s).

Referring to them as you do, gleefully recounting how cop buddies allow a pressure washer guy to spray them, etc takes away their humanity…something I sure don’t believe in.
It diminishes you as well.

When you guys post like you do, it simply reinforces why the CPC will not form a federal government soon, not with attitudes towards your fellow man like you vocalize.

Remember, there but for the grace of God go I.

————

As far as I recall, all I did was talk about a documentary I watched.

I don’t think putting these dudes to work is a bad idea at all. Regular work and exercise is well documented in getting ones’ head straightened out, and I’ve got an inside line on that strategy too. Feeding them more drugs so that they’re not out there raising hell may look like results, but it’s just pacification. In reality, they’re all still junkies…

Finally, there are plenty of folks on the streets who are there because of substance abuse alone. Also, my posts should not be confused with official CPC policy.

Something else to keep in mind:

“You are not your own; you were bought at a price. Therefore honor God with your bodies.”

#38 GBiddy on 11.25.19 at 9:18 pm

Fartz – yes glaciers are melting like they have been for a long time before we were here. This we all know, and to adults it shouldn’t be scary or dangerous or frightening even if the rate of melt increases or decreases.

ShawnAllan – read between the lines: the IMPACTS of climate change are real, but those impacts are caused by unfounded climate hysteria, not a changing climate. Keep those two things separate.

It’s like saying the impacts of the Inquisition were real–hundreds of thousands of non-believers murdered, in one way or another–but the causes given weren’t real.

As well, one would have been a fool to ignore the impacts of witch burnings in Salem as well, but the causes weren’t actually witchcraft or the Devil…right?

Just like climate change.

The only impacts are from governments and corporations beholden to brainwashed climate change zealots–modern day Marxists/true believers/witch burners–who boycott and cancel and influence and impact every policy decision and product produced.

Those are the impacts, and they are real, even if the cause or justification is not.

It’s the same old story, again and again…

#39 Oakville68 on 11.25.19 at 9:43 pm

Dear #33 Nonplussed – you don’t “hand” the resp money over to your little treasure so they buy a Mustang to wrap around a pole. The subscriber aka usually the parent has a choice of making the withdrawal cheque’s payable to themselves or to the beneficiary. If mom and dad paid for juniors tuition and residence than they are basically reimbursing themselves from the RESP – the beneficiary will receive a t slip the next year as they will have to claim any grant or income paid from the withdrawal on their taxes. RESPs are a wonderful thing if used properly.

Subscribers can access only original contributions that they made. All growth and grants are taxable in the beneficiary’s hands (the child). – Garth

#40 NoName on 11.25.19 at 9:44 pm

@Shawn Allen

Older article but very interesting.

https://www.vox.com/energy-and-environment/2017/12/1/16718844/green-consumers-climate-change

#41 Hookshott on 11.25.19 at 9:56 pm

crowdedelevatorfartz on 11.25.19 at 7:37 pm
Bob.
Dont buy in Victoria. Too expensive.
Look around Courtney on the Island.

“”””””””””””””””””””””””””

I’ve only been there once, thought it was o.k.

Had a quick look on zolo, he can get a brand new house there for what he was allowing for a downpayment on a house in Victoria.

He can pay cash and get back to living.

Case closed.

You’re welcome Bob…

M45BC

https://www.zolo.ca/courtenay-real-estate/2507-brookfield-drive
…..
Not bad…but if you look in the more desirable East Courtenay you will find many new homes like this one:
https://www.zealty.ca/mls.php?id=460860&u=&email=

#42 TheDood on 11.25.19 at 10:25 pm

#43 Hookshott on 11.25.19 at 9:56 pm
crowdedelevatorfartz on 11.25.19 at 7:37 pm
Bob.
Dont buy in Victoria. Too expensive.
Look around Courtney on the Island.

“”””””””””””””””””””””””””

I’ve only been there once, thought it was o.k.

Had a quick look on zolo, he can get a brand new house there for what he was allowing for a downpayment on a house in Victoria.

He can pay cash and get back to living.

Case closed.

You’re welcome Bob…

M45BC

https://www.zolo.ca/courtenay-real-estate/2507-brookfield-drive
…..
Not bad…but if you look in the more desirable East Courtenay you will find many new homes like this one:
https://www.zealty.ca/mls.php?id=460860&u=&email=
_____________________________________

What a fantastic idea. Spend 1 mil of your 1.6 stash on a house. Awesome advice.

#43 Long-Time Lurker on 11.25.19 at 10:36 pm

Yabba dabba dooo!

(Fred Flintstone)

https://www.youtube.com/watch?v=uq7noaMwLfg

#44 Flop... on 11.25.19 at 10:52 pm

#43 Hookshott on 11.25.19 at 9:56 pm
crowdedelevatorfartz on 11.25.19 at 7:37 pm
Bob.
Dont buy in Victoria. Too expensive.
Look around Courtney on the Island.

“”””””””””””””””””””””””””

I’ve only been there once, thought it was o.k.

Had a quick look on zolo, he can get a brand new house there for what he was allowing for a downpayment on a house in Victoria.

He can pay cash and get back to living.

Case closed.

You’re welcome Bob…

M45BC

https://www.zolo.ca/courtenay-real-estate/2507-brookfield-drive
…..
Not bad…but if you look in the more desirable East Courtenay you will find many new homes like this one:
https://www.zealty.ca/mls.php?id=460860&u=&email=

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

Hey Hooky, the median house price in B.C is 522k

Bob said he had 550k as a downpayment, plus he was looking at getting a mortgage on top.

The one I showed, after fees, would be roughly around that 550k number, no mortgage necessary, and instant home ownership if that what he is craving.

After Crowdie suggested Courtenay, I was trying to show Bob something in the middle of the B.C market that would not decimate his portfolio, but give him a decent property with minimal upkeep.

Not too hot, not too cold.

We all see things different ways.

You went for the hookshot, I attempted the slam dunk…

M45BC

#45 Dumb Wealth on 11.25.19 at 11:17 pm

Renting just sounds so stress-free to me right now.

#46 crowdedelevatorfartz on 11.25.19 at 11:27 pm

@#28 Ustabe young
“Referring to them as you do, gleefully recounting how cop buddies allow a pressure washer guy to spray them, etc takes away their humanity…something I sure don’t believe in.
It diminishes you as well.”
++++
You must have led a very boring , politically correct life.
And considering that it was 35 years ago and times were different ….(less touchy feely sensitive?)
Sorry to break it to you but…..I dont feel diminished…
:)

#47 Sail Away on 11.25.19 at 11:40 pm

Bob, if you’re going to a new area anyway, you may as well pick up this beautiful log house on four acres in South Dakota for $479k USD:

https://www.zillow.com/homedetails/12332-Benchmark-Rd-Nemo-SD-57759/234423877_zpid/

#48 crowdedelevatorfartz on 11.25.19 at 11:42 pm

@#40 GBiddy
“yes glaciers are melting like they have been for a long time before we were here….”
+++++

Ahhh yes, glaciers have been melting for a long time….

I guess thats why a “mummy” frozen in an Austrian Alps Glacier for 3000 years just suddenly popped up 28 years ago
Because….glaciers have been melting for a long time?
Or perhaps most Glaciers are melting faster now than the last 3000 years?

Nah….couldnt be.
Doesnt fit in the “deniers” rant.

https://en.wikipedia.org/wiki/%C3%96tzi

Ponzie Pilates ancestors decided to go for a walk 3000 years ago and got lost?
And it took 3000 years and the last 50 of warm weather to find him.

8 billion people and a warming planet.
Over fished oceans.
Over fertilized farm land.
Unpredictable rains.
Unpredictable frosts.
Massive crop failures.
LOTS of really hungry people.
Tipping point?
Never happen ?
Good luck with that.
Deniers.

#49 CoastalZapper on 11.25.19 at 11:46 pm

Bob

I’m also looking at Victoria, somewhere close to the golf course I want to join.

Doesn’t it make sense to go for a vacation. Then when you have found a nice area, Rent. Then get to know Victoria, Cowichan, Nanaimo, Courtenay, Campbell River and figure out exactly where you want to live. Then, after talking with a good advisor make a decision on buying or renting. Wrong time of your life to be making a mistake with a home purchase.

A big selling point for Victoria with me is it is well set up for retirees, growing old and being moved into a retirement home, like it or not it is a fact of modern life.

#50 Liberal and Rat Free on 11.26.19 at 12:03 am

As it should be.

https://nationalpost.com/news/canada/how-alberta-completely-eradicated-rats-from-the-province-by-declaring-war-on-rodent-hordes?video_autoplay=true

#51 It's a bubble on 11.26.19 at 12:05 am

“This is not a question about the Victoria market, since it’s unlikely to bubble or crash, …”

Going from $600k to $900k in less than 3 years (Jan/16 to July/19) isn’t a bubble?!!!

#52 Fortune500 on 11.26.19 at 12:55 am

Mary, I just wanted to say, well done on the savings rate! That is admirable. Keep up the good work and continue to be a financial role model. We need more people like you.

#53 Fortune500 on 11.26.19 at 1:05 am

And just for a different perspective from Canadians not flush with cash, my mom lives on OAS, CPP and about $600 from her small portfolio. She is in her mid 70s and rents a small apartment in Whitby. She leads a very active social live taking part in various volunteer organizations and visiting family members. She is content. She probably doesn’t make more than $2200 a month but does just fine. She has few wants. There other ways to enjoy a retirement than the ones espoused here and on other financial forums/blogs/channels.

#54 Where's The Money Greedeau? on 11.26.19 at 1:11 am

Just have a look at our “politicians”…..

https://www.ctvnews.ca/politics/feds-won-t-explain-claim-pipeline-expansion-will-raise-500m-in-tax-revenue-1.4701659
Feds won’t explain claim pipeline expansion will raise $500M in tax revenue
++++++++++++++++++++++++++++
They’re going to milk this and when the time comes to unload they will create a false flag so they can “dump” it to their insider buddies for 10 cents on the dollar. Pierre, his dad, set up PetroCan and guess who he put in as the first President, none other than Maurice Strong-godfather to the carbon tax and one world gov’t. Maurice was tight with Paul Desmarais Sr.-Power Financial, the real rulers of Canada.
https://business.financialpost.com/news/fp-street/the-web-of-paul-desmarais
https://medium.com/@christopherrichardwadedettling/the-corrupt-legacy-of-paul-desmarais-2c30cab0cf36
Here’s a little piece on Strong written right after he died in 2015:
https://quadrant.org.au/opinion/doomed-planet/2015/12/discovering-maurice-strong/
Also, Strong was implicated in the “Oil For Food” program in the mid-90s:
“The programme also suffered from widespread corruption and abuse. Throughout its existence, the programme was dogged by accusations that some of its profits were unlawfully diverted to the government of Iraq and to UN officials.”
Coincidentally, this was during the Clinton Administration, now that’s looking a lot like the Clinton Foundation, which the Clinton’s moved to Switzerland just before Trump beat them in the last US election, over 2 billion since its inception.
https://en.wikipedia.org/wiki/Oil-for-Food_Programme
Trudeau Foundation got numerous big donations after election: https://nationalpost.com/news/politics/money-began-to-rain-on-trudeau-foundation-once-justin-took-over-liberals-analysis-shows
Following in the Clinton Foundation footsteps: https://www.theepochtimes.com/clinton-foundation-pay-to-play-model-under-investigation-infographic_2730887.html

Canadian politicians controlled by the transnational oligarchy?
https://www.change.org/p/reinstate-the-bank-of-canada-act-of-1938/u/16338155

#55 NoName on 11.26.19 at 1:16 am

Looks like wifi will put kaybash kibosh on a comment section to, soon by the looks of it…

Just for the record i come to the peace that I no longer feel shame in doing a right thing wrong way.

Good night, and press play.

https://www.youtube.com/watch?v=bzmFXw0yFaM

And on a side note, my choice of music is impeccable.

#56 Smoking Man on 11.26.19 at 1:40 am

My favorite song ever….

https://youtu.be/tAGnKpE4NCI

The moment you give no shit…

#57 Paddy on 11.26.19 at 2:33 am

Visiting my brother in Turkey, he lives in DT Antalya and has a really nice place for $500/month…the country pays around 10% for a thier equivalent of a GIC….he’s basically living for free right now

#58 Nonplused on 11.26.19 at 3:19 am

#41 Oakville68

And Garth on the same post

“Subscribers can access only original contributions that they made. All growth and grants are taxable in the beneficiary’s hands (the child). – Garth”

Maybe I screwed up how I handled it, but I think the tax implications are low. There is now way my kids were over the $17,000 a year where you pay nothing on so RevCan can come audit me if they like and find out no taxes were owing.

But I did not write checks. I simply, after confirming enrollment to my bank, electronically transferred all saved RESP funds to my account, and then I used them to pay tuition and rent. And transfers for food and transit.

Maybe the rules have changed, but at the time neither my bank nor the government was concerned about anything besides whether my kids were enrolled in post secondary education. I am sure the bank would have had to send slips, and maybe I included them in my tax forms I put whatever gets mailed to me in there whether I understand it or not, but nobody has come to me and said I did something wrong.

All I did was take all the money out of the RESP’s, use it to pay tuition and rent, and put my slips into Turbo Tax.

If the government wants to track me down because maybe they though my kids were not paying enough tax, well good luck with that. Even with the distributions they are still under the “personal exemption”. It would be a great waste of time and money to pursue it.

Each of my daughters got about $20,000 though this program spread over 4 years, so about $5,000 a year. They maybe earned about $5,000 a year in the summer as well. What, exactly, does Trudeau think he can tax here?

I suppose there might be people using RESP’s to speculate, and the odd squirrel might find a nut. But most people invest in RESP’s very conservatively. That is one program where you actually save, not speculate.

Unless the rules have changed, I don’t think RevCan cares that I took the money myself and then paid the bills. That was the idea.

#59 Ustabe on 11.26.19 at 4:12 am

@IHCTD9 I don’t think putting these dudes to work is a bad idea at all.

Good idea. Maybe we should make them wear a patch on their clothing so we can tell who has been designated by the panel as one of those needing to work.

Do we leave them on the streets and hope they show up for this work or do we put them into “dormitories” so we know where they are so yet another bureaucracy can can be set up to feed and house them?

Who is going to tell those already working that someone else, someone with mental and physical health issues is now going to do the work going forward? Who is going to have the work available…the private sector?

Oh, right, the government will make up work for them then…but what if they take the money to pay for this from your quad accounts?

I have so many questions…but liberal, socialist or con knee jerk “put ’em to work” slogans lack empathy and simply do not resonate with the vast majority. And that is a large problem with the present day conservative party in Canada. Few, if any, answers and way too much pandering to a limited and small base.

#60 NoName on 11.26.19 at 6:05 am

RESP

Over the time there were few interesting post in comment section about resp, this I one of them.

https://www.greaterfool.ca/2019/04/21/baby-bucks/#comment-647308

#61 Jenny Wang on 11.26.19 at 6:36 am

$CDN continues to crater. As I be said, other countries are getting rich off the US,/China trade, but not Canada. Trudeau continues to keep his foot on the neck of all Canadian industries pushing our economy further into the toilet. George Soros must be proud.

https://www.xe.com/currencycharts/?from=CAD&to=THB&view=1Y

Look at how. Even the little Thai Baht is kicking the crap out of Trudeau’s peso. What happens is that this worldwide weakness makes everything you buy more expensive. You’re bank account is shinning. This is why I rail against balanced accounts that can’t keep up with the inflated grocery bills, rampaging taxes . 6% just doesn’t cut it.

#62 Jenny Wang on 11.26.19 at 6:38 am

*” bank acct is shrinking’.

#63 NoName on 11.26.19 at 6:57 am

Came across this article last night, very interesting read.

https://americanaffairsjournal.org/2019/11/the-real-class-war/

#64 James on 11.26.19 at 7:06 am

DELETED

#65 James on 11.26.19 at 7:41 am

Ah, c’mon Garth! You deleted me and all I was trying to do was to protect young students from getting buckets of crap dumped on them by an Old Man!

Think of the children!

https://www.youtube.com/watch?v=RybNI0KB1bg

https://torontosun.com/news/local-news/feces-tossed-at-students-in-york-university-of-toronto-libraries

#66 Paul on 11.26.19 at 8:03 am

Hello Garth, what do you think about Max & Stacy Keiser (Keiser Report).
They seem to be in the ball and have very informative reasonings to be pro gold bitcoin etc.

What do you make if these two bright individuals?

It would be interesting to hear what you think as both parties, you’re highly educated in your different fields.

#67 Tater on 11.26.19 at 8:04 am

#11 Figure it Out on 11.25.19 at 5:00 pm
“living on $1,200 a month plus government pogey is pathetic”

Absent any evidence that the guy is unhappy at his current level of consumption, calling it “pathetic” is just being a dick. I could be happy with 400 square feet, a coffee maker, a selection of music and something to play it on, and a library card. So I’m going to live on a sailboat…

But you! If he feels deprived and he doesn’t need to, that’s maybe a problem. If he doesn’t, it isn’t.
————————————————————

You sound like someone who hasn’t spent much time around boats. The costs are never ending.

#68 crowdedelevatorfartz on 11.26.19 at 8:04 am

@#Ustabe reasonable.

Well welfare day certainly isnt “fixing things” here in BC.
Or as local wags dubbed it years ago “Mardi Gras Day”
What’s the provincial welfare budget up to now ?
$1 billion a year? $1.5 billion?
Who cares right?
Lets just raise taxes…..again.
Perhaps work-fare?
Is that so much for the taxpayers to ask of welfare recipients?
EARN your keep?
A few hours a day, a few days a week in a structured environment where people are expected to perform simple tasks and achieve basic results.
People cleaning streets and parks instead of turning them into cesspools of crime.

https://www.straight.com/news/1329046/powell-river-woman-accidentally-shot-son-oppenheimer-park-vancouver-police

Dont worry.
You wont put any city workers out of a job.
They are too busy pushing paper and developing “action plans” on how to further “empower” of the gender balance in their workplace.

But most of the “street people” are mentally disabled you say.
Ok…perhaps.
But what did the Federal govt think when it drastically downsized or closed mental hospitals all over the country in the 1980’s and dumped thousands on the streets?
Things would get better?
They dumped a federal expense into a provincial expense. That the provinces were ill equipped to handle

Thats because there was no more money…..taxpayers in the 80’s were battling a recession, the govt was broke…….the results were not surprising.
Or what about the drug addicts that werent mentally disabled but just …..drug addicted due to their own bad decisions?
We should keep giving them money?
Gee, THAT”S worked out great.
The drug epidemic has exploded and Trudeau’s populist “action” is to legalize pot.
A great message to send out.

So here we have homeless in a revolving door of crime and abuse.
Do we continue the way we have or do we lock them up for triple the cost of welfare in “hospitals” or “prisons” where we know they wont be breaking and entering, stealing, assaulting taxpayers,etc etc etc.
Tough questions.
But we’re not in a recession right now so we can continue to shovel bucket loads of taxpayer dollars at an ever expanding problem…..because the economy always grows right? right?
Pray that it keeps growing forever or the 1980’s cuts will look like chicken feed….

Only the politicians and, ultimately, the voting taxpayers know for sure…

I for one vote for “work-fare” as a start…because , as a taxpayer,
I have rights and I’m sick and tired of hearing about “everyone’s rights” when my opinion and rights are being denigrated on a daily basis….

#69 MF on 11.26.19 at 8:10 am

3 Jenny Wang on 11.26.19 at 6:36

Definitely a troll but whatever I’ll bite.

Why is it that overseas expats in Thailand are almost always trashy?

Well probably because they choose to live in a country that’s main “economy” is based on sex work, and tourism from tourists who they hate but have to put up with.

Remember when Elon Musk called out that guy on Twitter?

Anyways,

One thing is for sure, no one cares if the CAD falls to the Thai currency (don’t care what it’s called) and our poor expats over there “suffer”.

MF

#70 crowdedelevatorfartz on 11.26.19 at 8:17 am

Former political science major and now Mayor, Kennedy Stewart of Vancouver continues with his biggest social experiment yet.
His next thesis will be titled.
“Higher Taxes help Everyone” .

https://www.citynews1130.com/2019/11/25/vancouver-mayor-defends-tax-hike/

#71 Ferdinand McMillan on 11.26.19 at 8:18 am

Isn’t anyone else just amazed that the people most fanatical about climate are all recent converts turned by a propaganda push less than a decade old? Why the sudden enlightenment if this has been such a huge growing problem? Is this mass marketing? Mass hysteria? Why havent the floods and hurricanes of ten thousand years ago been taken into account? Methinks that this bathing in bullshit has taken you for a ride.

#72 TurnerNation on 11.26.19 at 8:23 am

Trend alert: shutting this country’s production down.
Merry Christmas?!?

“The Globe and Mail reports in its Tuesday, Nov. 26, edition that the strike at Canadian National Railway has forced Nutrien to halt output at its potash mine in Rocanville, east of Regina, and lay off 550 of the mine’s 600 employees. The Globe’s Eric Atkins writes that Nutrien expects the shutdown will last for two weeks beginning on Dec. 2. About 3,200 CN conductors and yard workers walked off the job on Nov. 19. Months of mediated talks failed to settle differences that Teamsters Canada Rail Conference says include safety concerns, benefits and rest periods. The strike has halted shipments of everything from wheat to retail goods, prompting fears of factory shutdowns, layoffs and lost exports. Ottawa is facing mounting demands from industries and politicians to legislate an end to the strike. Agriculture Minister Marie Claude Bibeau said the federal government believes in the negotiating process and is pushing both sides to come to an agreement.
….
© 2019 Canjex Publishing Ltd. All rights reserved”

#73 not 1st on 11.26.19 at 8:33 am

Todays drug user is nothing like it was in the 80s or even 60s. There were functional cocaine addicts on wall street. These were party and recreational drugs. An addict was someone that used once or twice a week.

Now days an addict is someone using 10 times a day. Look at these people, they are in a permanent zombie state. They are either passed out, or walking bent at the waist moaning and stumbling around crawling in their own feces, etc. They are non functional in any state, mind or body, they have no sober moments of reflection. It will be impossible to get them clean without forced confinement. Are we going to round them up because that’s what it will take.

#74 Randy on 11.26.19 at 8:42 am

Buy a condo they said….bahaha https://www.cbc.ca/news/canada/calgary/condo-bed-bug-infestation-losing-game-1.5372938?cmp=rss

#75 Hicksville Alberta on 11.26.19 at 8:50 am

Ustabe and IHCTD9

Since both of you seem to be nudging around the edges with your discussion on treating drug addicts, etc. , it might be worthwhile to look a bit further on some things that may be material factors that actually lead to this disease amongst many other sicknesses.

From what i’ve been following, it is mainly a manifestation of the social and family breakdown of our western world society that so far is likely in a terminal decline phase due to what becomes an embedded response to the social and family breakdown and it can manifest itself in many ways including severe physical and mental health problems including perhaps some cancers for example and definitely most of the autoimmune diseases and many addictions even beyond drugs as well as a myriad of other things.

A great source of enlightenment on this discussion can be found in the many lectures shown on youtube by Doctor Gabor Mate, a Canadian Hungarian doctor who practiced out of Vancouver, including Vancouver eastside right in the middle of the heart of Main & Hastings till he turned to writing and lecturing.

I think he may be the Jordan Peterson of the medical profession he promotes integrative medicine and more in attempting to identify and treat the causes and the myriad sicknesses caused by all this dysfunction and as well to help educate and teach his audiences in recognition and prevention where possible.

I do support IHCTD9’s idea of work camps, etc. totally provided their is professional treatment and attempted rehabilitation of these damaged souls, however there is no quick fix for this a most of it started from childhood abuse of one sort or another or perhaps in response to severe trauma in life after the childhood formative years. And that kind of damage does not get fixed with a pill. In fact many will never be cured but many may get cured enough to be able to function again in some sort of supportive environment.

#76 Moh on 11.26.19 at 9:01 am

Great post Garth! Can’t wait to be a father one day and be able to support my childs post secondary education with your wisdom! Thank you for everything!

#77 IHCTD9 on 11.26.19 at 9:19 am

#61 Ustabe on 11.26.19 at 4:12 am

I have so many questions…but liberal, socialist or con knee jerk “put ’em to work” slogans lack empathy and simply do not resonate with the vast majority. And that is a large problem with the present day conservative party in Canada. Few, if any, answers and way too much pandering to a limited and small base.
____

Well Ustabe, I though you might be the kinda guy that can appreciate the real value of a good day’s work, and what it brings to the individual – I guess not. Like I said earlier – it’s well documented along with exercise to help lift folks out of depression, improve confidence, reduce anxiety, and bolster self esteem.

No biggie though, – keep voting to feed them free drugs if you like, sounds like a winner. I’m sure many have already been rehabilitated thru the consumption of free junk.

I’m not sure what is empathic about empowering a junkie to stay a junkie. If I were one, I’d have a lot more respect for the guy who drove a wedge between myself and my poison than for some dude who helped get me high every day.

You’d also do well to start separating official CPC party policy from things that are not.

#78 Jesse on 11.26.19 at 9:49 am

#24 AGuyInVancouver on 11.25.19 at 7:16 pm

Once again proving that given the choice, people with the means would all get the hell out of Alberta for BC. I laughed at the poster who suggested “If Bob stayed in Edmonton…” Why subject poor Bob to such unreasonable torture?
****************************************

That kind of proves the point that BC is a retirement home, the province doesn’t generate any wealth other than social/health care for the elderly. It’s a parasite for working tax-payers. Millennials are fleeing as they can’t afford to live there (myself included). What kind of a society will you have left in 25 years? Mostly sugar babies and drug dealers….which is close to what Vancouver is today.

#79 Blog Bunny on 11.26.19 at 10:11 am

”Most independent financial advisors would gasp in horror at your recommendations.”

Advisors are a funny bunch. I had a few selling me insurance who also wanted to get a hand at inveting my money. They were horrified that I hold index ETFs. I am glad I did not tell them that I also own a few individual stocks, they would have had a seizure.

So one guy wanted to get me into mutual funds with fees on top of his AUM rate. Then there was a lady who was horror struck. When I asked her what was a better alternative, she had no answer. When I asked her if she could beat the index, she told me that this was not the goal.

So it is bunny investing for me, all on my own. And thanks for the advice Garth !

#80 Remembrancer on 11.26.19 at 10:21 am

#74 TurnerNation on 11.26.19 at 8:23 am
Well there you go…

https://www.ctvnews.ca/politics/tentative-deal-reached-to-end-cn-rail-strike-1.4702531

#81 Sail Away on 11.26.19 at 10:23 am

#78 Moh on 11.26.19 at 9:01 am

Great post Garth! Can’t wait to be a father one day and be able to support my childs post secondary education with your wisdom! Thank you for everything!

——————————–

Garth’s wisdom won’t support anyone’s education. Money will be needed.

#82 IHCTD9 on 11.26.19 at 10:39 am

#63 Jenny Wang on 11.26.19 at 6:36 am

This is why I rail against balanced accounts that can’t keep up with the inflated grocery bills, rampaging taxes . 6% just doesn’t cut it.
___

6% will cut it just fine for me. Grocery bills are malleable, good sale prices are regular and ubiquitous, and you don’t need to eat steak every week. Lots of avenues to cut back the cost – more than has ever existed actually.

Taxes. Well, right now I’m paying jack thanks in large part to Trudeau’s CCB, but the gravy train will start diminishing as my kids pass their 18th birthday and move out of the house. Things will get tougher after that – but you know what? I have always won the pay low taxes game, so I expect to win into the future too. A lot of winning is due to small town living and two decent (ie. not too high) incomes making us a hard target.

Certain folks will have a pretty easy time paying low/no income taxes, and your consumption tax levels are largely up to you. I fully expect that the 40% slice of Canadians who pay zero income taxes will increase. Not sure how this will work out for gov. revenues, but my guess is badly.

I think a decent picture of where Canada is headed is starting to take shape. The old Canada is toast, and we are entering into the new permanently broke Canada full of dumb voters and run by flimsy politicians.

If you make big bucks in Canada, no matter how you do it, get ready for a rough ride. Those of us who aren’t “rich” will basically get a free ride until the bond market says “no more” to new federal debt. At that point, anyone ‘living quietly among the masses” with something to lose, may need to be prepared to exit the Loonie or even the country if not already done.

If you own a bunch of RE outside of your PR and it’s located in places like the, GVRD or GTA – get that stuff listed, there’s no way you’re going to make bank from here on in. Your investment has become a political lightning rod. Everyone now knows if you own investment RE that you are an evil money grubbing profiteer – and that you made millions via the bubble with zero work.

So sell soon, the cross-hairs are upon you, and your fellow Canadians would love nothing more than to see you get pumped full of lead.

#83 Sold Out on 11.26.19 at 10:41 am

I love seeing all these “smaller government ” types here suggesting that homeless drug addicts be required to work for their keep. They must envision some dystopian system of enforcement, probably involving no actual exchange of currency, because that will just enable drug use, but providing a bare minimum of food and communal shelter under the watchful gaze of their moral betters.

So, is the free market is going to step up and provide a sheltered work environment for a bunch of people with little to no relevant work experience, and huge personal problems? There is no evidence that private enterprise has any interest in that kind of charity.

That leaves the task to the government, which will need to create an entirely new Ministry of Re-education to round up, treat, train, and employ these problematic cases. Lots of highly paid positions, all with DB pensions!

If anyone actually makes it out of the street life, it’s due more to their own individual resources, both internal and external, than to any help available from government or aid agencies. But, they need a chance to stay alive long enough to make those choices. Fentanyl is making that difficult. A safe supply of opiates makes it possible.

BC has nowhere near enough treatment beds for the afflicted, and never will. Treatment facilities are geared towards those with good jobs with benefits, and employers who have a vested interest in maintaining the confidence of their clientele, like organizations that employ doctors, nurses, pilots, paramedics, cops, etc. Yes, functional addicts are clocking in to these jobs everyday.

Drug addiction is not a moral failure, it’s a medical problem.

#84 IHCTD9 on 11.26.19 at 11:37 am

#87 Sold Out on 11.26.19 at 10:41 am
I love seeing all these “smaller government ” types here suggesting that homeless drug addicts be required to work for their keep. They must envision some dystopian system of enforcement, probably involving no actual exchange of currency, because that will just enable drug use, but providing a bare minimum of food and communal shelter under the watchful gaze of their moral betters.
____

La-la land.

#85 Ponzius Pilatus on 11.26.19 at 11:45 am

#39 IHTC
You are not your own; you were bought at a price. Therefore honor God with your bodies.”
————————-
Jesus washed the feet of beggars.
Personally, I would never judge people before I walked a mile in their shoes.
Self righteousness is not a virtue.

#86 Dharma Bum on 11.26.19 at 11:50 am

RESP contributions are a tremendous gift for your children.

The cost of a solid education at a respectable institution in a field/discipline that will yield practical dividends for the time investment by a serious student will only be going up.

One must remember, however, that the amount of money available in the RESP account when the grown up child-about-to-turn-student needs it will depend upon a lifetime of consistent contributions by the parent. This is far more difficult than it seems at first glance.

Given the statistics on savings rates, RRSP contributions, and TFSA contributions, it is hard to imagine that parents in general would have the discipline, let alone the funds, to make those regular contributions. For most, at best they would need to sacrifice their own personal savings and investments in order to adequately fund RESPs for their children’s future education.

Kudos to those parents that do it! It’s an amazingly generous gift.

Highly educated people on average live a more fulfilling life, have less financial hardships, and make better citizens.

https://mashable.com/2012/06/19/education-happiness/

#87 Ponzius Pilatus on 11.26.19 at 11:51 am

#64 Jenny Wang on 11.26.19 at 6:38 am
*” bank acct is shrinking’.

———————-
No need to correct.
No one is reading your rants anyway.

#88 Sail away on 11.26.19 at 11:54 am

CN Rail

Interesting to see the nationwide productivity effect of 3,200 striking CN rail workers, no?

Think about this carefully:

-CN stock has grown an average of 17% (including dividends) since privatization in 1995
-They have long-term oil transportation contracts while pipeline creation is strangled
-They are critical to the country’s bulk productivity
-Rail is the only feasible transportation mode for land-based bulk transport, hauling 1 ton of freight 423 miles per 1 gallon of diesel (numbers from a random rail-promoting site)

For you non-Buffettheads, the above is a gigantic economic moat. By the way, Buffett is a big investor in BNSF railroad. Buffett’s good pal Bill Gates is also the largest shareholder in CN.

If you are not invested in railroads, it’s probably worth looking into. Garth might even allow a small deviation from ETFs. Abandon RE, embrace rail!

#89 Ponzius Pilatus on 11.26.19 at 12:05 pm

IHTC.
You are preaching the benefits of hard work as a means to somehow solve the world’s woes.
All the while, you’re spending the time that god has given you, babbling on this blog.
Go and fix some roofs.

#90 Westcdn on 11.26.19 at 12:08 pm

Kenney (the man who wants to be PM) met Ms Davos (Freeland) met on the great tide less flatland to talk. I say just watch me (T1) as talk is cheap. I expect to see more of Ms Davos on prairie ground and I hope she ignores Kim Campbell who I have a low opinion.

I thought the Grey Cup half time show was class, maybe the best I will ever see. Good to know the Winnipeg fan can wear pants again although his first choice is chilling – his wife is the hero.

Speaking of chilling, I have declared my annual 100 days of character to have begun. When I moved from Vancouver to Redmonton in 78, I had no idea what cold was and why their cars had electric cords. The first winters nearly killed me on a few occasions. My plan was to earn working experience and move back to Vancouver. That didn’t happen because Alberta treated me well and I adapted by dropping my old baggage. Vancouver is now foreign to me but still pretty where most of my family is and I can remiss – “Hey, the Albertan is here! – poor sap”. Still lots of testosterone but I haven’t seen any truck nuts for a while.

I think a country’s value is its people. People create value, not money or resources. The neat thing about humans is how we can communicate to create or destroy as a group. The time to drop our ignorance and arrogance outside our comfort zone has arrived.

Oh, I am replacing Reits with preferreds. Has anyone else noticed the number of hedge funds shutting down? There are no financial gods, just many in a lucky time and we know the naked are exposed when the tide goes out.

#91 not 1st on 11.26.19 at 12:17 pm

#82 Remembrancer on 11.26.19 at 10:21 am

https://www.ctvnews.ca/politics/tentative-deal-reached-to-end-cn-rail-strike-1.4702531
—-

Obviously fed cash promised into the deal. We know how it all works. Every rail car will be propane for the next month, other commodities not so lucky.

#92 LP on 11.26.19 at 12:17 pm

#39 IHCTD9 on 11.25.19 at 9:13 pm

“You are not your own; you were bought at a price. Therefore honor God with your bodies.”
**********************************
If you’re going to get all biblical, you may as well quote that cranky apostle, Paul, who famously said, “If a man will not work he shall not eat.”

So many posters here this morning have all the answers. As long as we are willing to disrespect the inherent right of people to freedom from coersion, of freedom not to be corraled behind locked compounds (remember “kettling” in Toronto a few summers ago?) and lots of other freedoms those of us who are not subject to the terrors of addiction enjoy, then all problems can be solved.

Is that the kind of world we want? Those of us who still have children to raise, or grandchildren who are still young, better be pretty sure we can live with these solutions when and if our youngsters also fall prey to the scourge of addiction. My own grandchildren are too young to be safely launched on a healthy adulthood. The thought they may one day be victims of drugs or alcholol abuse haunts me. I pray none of them ever falls prey to those of you who would “fix” them.

Having said all that, I have no idea how to solve our problems. I don’t know to what degree nature or nurture influences the choices of those who would try drugs for the first time. I used to be addicted to cigarettes and don’t now remember why I smoked that first one. But for 39 years I was never very far away from that large pack a day habit.

If you’ve never in life been habituated to a harmful substance, count yourself lucky. Some of you will see that as virtue; but I think it’s dumb luck!

#93 AGuyInVancouver on 11.26.19 at 12:20 pm

#83 Figure it Out on 11.26.19 at 10:22 am
“You sound like someone who hasn’t spent much time around boats. The costs are never ending.”

Yes, that was a bit of humour. Not doing it to save money.
_ _ _
Yeah, ain’t it funny how left to their own devices the two parties were able to sort it without the government blundering in. You think the Liberal-hating conservatives who had their panties in a bunch about stepping in would have figured that out.

#94 Jesse on 11.26.19 at 12:44 pm

#93 Westcdn on 11.26.19 at 12:08 pm
Kenney (the man who wants to be PM) met Ms Davos

I think a country’s value is its people. People create value, not money or resources. The neat thing about humans is how we can communicate to create or destroy as a group. The time to drop our ignorance and arrogance outside our comfort zone has arrived.

****************************************

And what do Canadian’s create that has value today? We are consumers, we outsourced all our industry years ago to China and Mexico. Now, China owns us and our real estate. What to do about jobs? Trudeau wants to kill the oil and gas industry and bury the west, this is how BIG government works. Bleed them dry, and then come in later and act as their savior by buying their votes with lot’s of handouts. It’s clear that the Feds don’t respect the west, you can smell their ‘moral superiority’ a mile away, the emperor has no clothes.

#95 Sail away on 11.26.19 at 12:58 pm

#85 IHCTD9 on 11.26.19 at 10:39 am

….your fellow Canadians would love nothing more than to see you get pumped full of lead.

———————————–

Ever hear the lobster analogy? Apparently, when there are many lobsters in a bucket, if one tries to escape, the others will drag it back and rip it to pieces.

#96 oh bouy on 11.26.19 at 1:07 pm

@#39 IHCTD9 on 11.25.19 at 9:13 pm
__________________________________

Weird hearing someone like you quoting scripture.

#97 Sail away on 11.26.19 at 1:11 pm

Remember the Odyssey when they landed on the Island of the Lotus Eaters and some of the crew tried the lotus? They immediately lost all ambition and wandered around in total apathy munching lotus.

When Odysseus confined the junkies to the ship, removed their lotus and put them to work, they eventually again became competent seamen.

Historical precedent for forcible drug removal, work and confinement for one’s own good.

#98 Tater on 11.26.19 at 1:29 pm

IHCTD9 on 11.25.19 at 9:13 pm
————

As far as I recall, all I did was talk about a documentary I watched.

I don’t think putting these dudes to work is a bad idea at all. Regular work and exercise is well documented in getting ones’ head straightened out, and I’ve got an inside line on that strategy too. Feeding them more drugs so that they’re not out there raising hell may look like results, but it’s just pacification. In reality, they’re all still junkies…

Finally, there are plenty of folks on the streets who are there because of substance abuse alone. Also, my posts should not be confused with official CPC policy.

Something else to keep in mind:

“You are not your own; you were bought at a price. Therefore honor God with your bodies.”

—————————-

Oh dear, here comes another conservative to tell us all how to solve problems based on the teachings of Magic Sky Daddy.

Thanks, but maybe let’s take approaches that have actually been shown to work.

#99 IHCTD9 on 11.26.19 at 1:40 pm

#92 Ponzius Pilatus on 11.26.19 at 12:05 pm
IHTC.
You are preaching the benefits of hard work as a means to somehow solve the world’s woes.
All the while, you’re spending the time that god has given you, babbling on this blog.
Go and fix some roofs.
____

Hard satisfying work as a means to get one’s head straightened out.

Ponzie, go out and pump some iron until your body feels like rubber. Afterwards you will feel great, you’ll be more positive, in a great mood, the endorphins will minimize the pain you feel. Try it – I’m not wrong, it’s well understood.

I can type fast Ponzius – and since you mentioned it – I did do some roof work on Sat. Well, soffit and fascia. Also built a new base for my dining room cupola, and raked up a crap-load of pine cones.

I do both Ponzie, babble on this blog – and do a bunch of work – no problemo.

#100 Sold Out on 11.26.19 at 1:41 pm

#87 IHCTD9 on 11.26.19 at 11:37 am
#87 Sold Out on 11.26.19 at 10:41 am
I love seeing all these “smaller government ” types here suggesting that homeless drug addicts be required to work for their keep. They must envision some dystopian system of enforcement, probably involving no actual exchange of currency, because that will just enable drug use, but providing a bare minimum of food and communal shelter under the watchful gaze of their moral betters.
____

La-la land.

—————————————————————

Well, rarely have I been the target of such a well-balanced, reasoned, and nuanced rebuttal!

This, from a guy pontificating from his homemade, backwoods pulpit. I suspect that if one cared to look up ‘insular’ in a dictionary, we would know what you look like.

Yeah, what do I know? I only spent 20+ years resuscitating, counselling, finding treatment for, and working alongside, the addicted in the world’s biggest open air mental facility.

#101 Sail away on 11.26.19 at 1:55 pm

#145 AGuyInVancouver on 11.25.19 at 1:18 pm
111 Sail Away on 11.25.19 at 5:53 am

Re: Sahotas

…we have two vacant, privately-owned buildings with no outstanding liabilities of any type that the city decides to grab for $1.
_ _ _
Stop peddling this nonsense. The buildings were about ready to collapse becuase of the owners neglect. The city will now be out of pocket to repair them

———————————-

So AGiV, here’s a solution to the city’s out of pocket costs you mention. Read it slowly:

DON’T STEAL THE BUILDINGS

This will:

1. Save the city all these supposed repair costs
2. Keep tax revenues flowing to city coffers
3. Show respect for private property rights

Win-win-win

Any questions?

#102 Sold Out on 11.26.19 at 1:57 pm

#100 Sail away on 11.26.19 at 1:11 pm
Remember the Odyssey when they landed on the Island of the Lotus Eaters and some of the crew tried the lotus? They immediately lost all ambition and wandered around in total apathy munching lotus.

When Odysseus confined the junkies to the ship, removed their lotus and put them to work, they eventually again became competent seamen.

Historical precedent for forcible drug removal, work and confinement for one’s own good.

—————————————————————-
Ah yes, Homer, he was well-known in ancient Greece for the rigour of his peer-reviewed, double-blinded research.

Oh wait, he was a poet.

#103 Sail away on 11.26.19 at 2:32 pm

#105 Sold Out on 11.26.19 at 1:57 pm
#100 Sail away on 11.26.19 at 1:11 pm

Re: Odyssey, Homer and Lotus Eaters

—————————————————————-

Ah yes, Homer, he was well-known in ancient Greece for the rigour of his peer-reviewed, double-blinded research.

Oh wait, he was a poet.

———————————————

Never before have I seen such disrespect for Homer’s drug prevention strategies.

#104 Sold Out on 11.26.19 at 2:56 pm

#106 Sail away on 11.26.19 at 2:32 pm
#105 Sold Out on 11.26.19 at 1:57 pm
#100 Sail away on 11.26.19 at 1:11 pm

Re: Odyssey, Homer and Lotus Eaters

—————————————————————-

Ah yes, Homer, he was well-known in ancient Greece for the rigour of his peer-reviewed, double-blinded research.

Oh wait, he was a poet.

———————————————

Never before have I seen such disrespect for Homer’s drug prevention strategies.

—————————————————————
I once found Homer ODing behind the Carnegie Centre; it took an entire vial of Narcan to get him on his feet. I offered to hook him up with a stern daddy figure who would lash him to the mast, to resist the siren call of the fentanyl, but he just wanted to go to St. Paul’s ER for an egg-salad sandwich.

#105 mark on 11.26.19 at 4:11 pm

#15 mark on 11.25.19 at 5:31 pm
Wondering if anyone has a tool/or website that can correlate the ZPR preferred market with other global assets and what there affect is on portfolio?
Have found some great sites, but cant find data on the Canadian preferred share asset market.
I have modeled it as a long bond(pretending).
Then modeled it as the TSM(Total Canadian stock market). I feel most likely some where in-between!.
Preferreds have very little correlation to bond market from the data I see, about .16 from stats I see.
Thanks in advance.

“Just as I figured……………….silence” B.O.D.A.

#106 Sail away on 11.26.19 at 6:28 pm

#108 mark on 11.26.19 at 4:11 pm
#15 mark on 11.25.19 at 5:31 pm

Wondering if anyone has a tool/or website that can correlate the ZPR preferred market with other global assets and what there affect is on portfolio?

—————————————-

“Just as I figured……………….silence” B.O.D.A.

—————————————-

Mark, is that a snippy comment because nobody answered your cryptic question on this free blog? It could be because nobody understood your question, or you are looking for something that’s unavailable.

And you have two grammatical errors in your first sentence, which doesn’t inspire confidence that our knowledge, if offered, would be properly understood in any case.

#107 Edward Bear on 11.26.19 at 7:31 pm

And here I thought I was being zany joking about a breathing in and out surcharge in addition to the other piratical fees, add ons and sundry levies on our utility bills.

#108 Tommy Dexter on 11.26.19 at 7:54 pm

Scott Cordier, You sound like maybe like my brother a born Canadian who married a Greek Women in Greece 45 years ago. He was a University professor mostly for English and History now retired in the U.S. with his Greek born wife for 15 years. They are U.S. citizens now for 10 years.

They just barely got out when the whole Greece market, financial crash happened. They did well mostly buying Greece real estate and interest from savings, investment deposits in Greek real estate sold a few of those to U.S. tourists some are good friends now.

They are conservative people with their money. They are debt free and have a modest $390,000 house in northern Georgia and with all their savings bought 20% in 5 to 10 year CD’s, 70% in 20 and 30 year U.S. treasuries, state tax free GO’s and 10% in short term 6 months to 18 month CD’s, U.S. T-bills. They have $3,700 a month left after all taxes and expenses so they are doing pretty well and without any real meaning Greece pension to show for.

#109 VanMan on 11.27.19 at 1:48 am

Hi Garth – question on RESP. I have one mini me that already has an RESP on the go and we now have our second child but is at the moment RESPless.

Is it best to open a new RESP for kid2 in his name or can I add #2 to #1’s already existing RESP sitting at about $14K?

What is the best move? They are 3 years apart in age.

Thanks!

#110 BlogDog123 on 11.27.19 at 7:30 am

Ouch, Over $600,000 to pay for not closing on an unconditional offer. And nothing to show for it except for a sob story !

House was ‘sold unconditionally’ for over $1.8M, lady backs out of the deal, home eventually sells for around $1.2M… result below…

(from Globeandmail story) Nov 26th

The Perkinses then put their home back on the market, and when it sold for $1,251,888, they sued Ms. Sheikhtavi for the amount they were out – $619,112, plus $4,621.05 for the mortgage costs they continued to carry during the intervening period.

This past March, a lower-court judge ordered Ms. Sheikhtavi to pay those costs, and the appeal court upheld that ruling on Tuesday, while also ordering her to pay an additional $15,000 toward the sellers’ legal costs.

#111 ImGonnaBeSick on 11.27.19 at 9:26 am

Here’s another Ottawa op-ed hit piece softening up the general public to accept a Canadian eligible dividend tax credit overhaul this time… thankfully the financial industry is almost always smarter than the idiots in Ottawa.

https://business.financialpost.com/opinion/our-dividend-tax-rules-are-broken-and-need-to-be-fixed