The dilemma

Covid kissed Marie. “Who would have imagined the virus would come just as I was retiring?” she says. “I needed to sell that house for the most I could get, to retire on. This worked out great. Sort of…”

The great part was a price $50,000 more than expected. Marie walked away with $535,000 from that deal. The not-so-great part is what comes next. That which the virus delivered (real estate frenzy) it also sucked away (interest rates). Dilemma.

Marie has CPP and (in a year) OAS. Eight hundred bucks a month now. Fourteen hundred next year. Hardly sufficient to live on – and not even enough to keep the house – with insurance, property tax, utilities, a small mortgage and the screaming need for a new roof, windows and foundation repairs. Not moving was not an option. No money to live on. Not enough to make repairs. No HELOC offered by the bank (she tried) without income to service the debt.

But along came Derek and Charles. Thirty-something employed guys. They bought the house the day after it was listed. Over-asking. No conditions. She was relieved. But later than night Marie wept in the kitchen. So many changes. Confusiing choices. Uncertainty ahead.

Savers have been robbed, punished and marginalized by central banks which brought in emergency rates after the credit crisis and were unable to lift them much before the next crisis came. This one was worse. Global pandemic. Beyond experience. Timeline unknown.

The Bank of Canada reaffirmed this last week. Monetary policy will stay accommodative, it said – which is code for “GIC rates in the ditch for the next few years.” Until the economy reopens, a vaccine arrives, the virus fades and inflation rekindles there will be no CB increases. In fact our bank will spend $5 billion per week buying up bonds to ensure the yield market stays depressed. Cheap money, the thinking goes, will help save the economy from a worse fate – sliding into disinflation and possibly a Covid-caused depression.

In Marie’s kitchen monetary policy and global GDP are abstracts. Her bank (the green one) is currently offering 0.85% as the annual payout on money she locks into a GIC for five years. That’s no option. She needs income. Less than a 1% return means she’ll eventially burn through her capital. “I will be old,” she told me, “and may have nothing.”

So we need a plan.

First, forget GICs. Of any kind. Of any duration. From anywhere. Returns are abysmal. Interest received outside of a registered account is fully taxable. You’re taxed on money you haven’t yet received with a multi-year guaranteed certificate. Most fail to pay any regular cash flow. In a situation like Marie’s this is a one-way trip to subsistence.

There are fixed-income alternatives. For example, in a properly-managed balanced portfolio with about 40% safe stuff a mix of bond ETFs (12% government, 11% corporate investment grade & 3% high-yield) currently pays 2.86%. Add in preferred shares (14%) paying just under 5%, and the overall yield on this portion of a portfolio is about 3.7%. That’s four times the Big Bank GIC, which needs to be locked away for half a decade. More tax-efficient. And these assets can pay monthly income.

Now add a few ETFs with Canadian large-cap stock exposure (15%), some beaten-up REITs (5%), large-cap US (19%) plus small-cap (3%) funds and international large-company coverage in Europe and Asia (18%). This equity portion is highly diversified, global, without significant exposure to any one sector or group of companies (even the high-flying, inflated tech giants). It positions for more growth as Covid eventually moves on, the crazy US election ends and world growth resumes. Plus, yes, it also pays income.

The average rate of return on this kind of portfolio (called 60/40) has been just over 7% during the last decade. No, that does not mean the return is guaranteed. But just look at what the last ten years brought. Odds are the next decade will be no wilder. Yearly performance can vary a lot, but since Marie has about 25 years of life left, it’s the long game that matters, not short-term swings.

After paying a management fee (never agree to anything over 1%), this would provide her with about $2,700 a month (plus long-term capital protection). Add in the CPP, and she has $3,500 income. Not fit for a princess, but enough to rent a nice one-bedroom condo in a lovely town, maintain a car and eat. Once 65 looms, she can throttle back the income to retain more of the old folks’ pogey – OAS ($607) and possibly GIS ($916). Meanwhile she still has a portfolio of more than half a million. If there’s a need for assistance as she wilts, Marie’s in a better position to afford it.

Or, she can buy a GIC, eschew all risk, and try to live on eight hundred a month. Good luck with that.

Inescapable conclusion: savers are pooched. Women are at greatest risk. You know why.

132 comments ↓

#1 Party on Garth on 09.13.20 at 2:35 pm

At the end of June, 2020 the total debt outstanding in Canada (bottom line of the Statistics Canada credit market summary data table) was $9.319 trillion. At the end of June, 2019 the total debt outstanding was $8.447 trillion. In the 1 year period from the end of June, 2019 to the end of June, 2020 it increased by $872.4 billion. This is an increase of 10.3%.

Update on the total (household, business, and all levels of government) debt numbers in Canada and the size of the Bank of Canada’s balance sheet 

https://owecanada.blogspot.com/2020/09/update-on-total-household-business-and.html

#2 CERBIAN on 09.13.20 at 2:37 pm

CERB has been renamed EI and is now available to ALL regardless if you paid into it or not. So why bother paying into it?

Also, defer your mortgages again!

#3 WTF on 09.13.20 at 2:44 pm

UofT Paper https://www.utpjournals.press/doi/full/10.3138/cpp.2019-009

#4 Bill on 09.13.20 at 3:00 pm

And this will cause your cost of living to go up. T2 is an idiot.
If Canada was to shut down it wouldnt make a coon$hit bit of dif. We produce a fraction of 1% of the global carbon emissions and theres no correlation between carbon and global warming…I mean climate change.
Its our smallest problem likley.
To many suckers so we are doomed.
https://winnipegsun.com/opinion/columnists/aldrich-canada-clean-fuel-standard-shows-how-out-of-touch-trudeau-is

#5 Felix on 09.13.20 at 3:00 pm

Actually, no dilemma at all in today’s photo.

Amphibia have IQs 274% higher than canines.

Take the frog or toad. Leave the dog at the pound.

#6 cuke and tomato picker on 09.13.20 at 3:00 pm

I just read in the Times Colonist that when the liberals get together in Nov. their main topic will be a UBI. What are the thoughts of you Garth and the rest of you people who follow this blog. I am in favour of helping the mentally ill, the physically disabled and single mothers with children. However I feel we have SOME PEOPLE that are to cool for school and to lazy to work.

#7 FreeBird on 09.13.20 at 3:07 pm

As a woman I can empathize with Marie but also hope she acknowledges her courage to make tough choices when needed. Congrats to her for selling quickly and over asking. Starting over is hard but being broke is harder (words from my husb). Also hope is good but doesn’t pay the bills or put food on the table. Both harsh but true. Would be nice to get a follow up on Marie. Hopefully she’s in the hands of team Turner.

#8 Sandro on 09.13.20 at 3:16 pm

If interest rates were high for savers her house wouldn’t have been so profitable so she would have nothing. It’s a damned if you do dammed if you don’t scenario. At least the $535,000 is tax free. Her savings/GIC/ETFs wouldn’t have been.

#9 GIC'S on 09.13.20 at 3:24 pm

Hey I have a great idea. Why not throw $10 trillion or so, at the GIC market like we did the stock and real estate markets and artificially inflate the living crap out of that too? I mean, why not? It’s not like anything needs to make sense anymore.

#10 NSNG on 09.13.20 at 3:28 pm

It’s not cruel what the central banks have done to the poor and seniors.

It’s evil.

#11 crowdedelevatorfartz on 09.13.20 at 3:40 pm

The scary version?

Marie is far, far, FAR better off than 90% of retirees.

#12 Axehead on 09.13.20 at 3:45 pm

Without knowing the details, one wonders: No savings after all these years? No other assets? No kids?

#13 just a dude on 09.13.20 at 3:47 pm

Garth,

It’s been a while since I thanked you for all that you do. Thank you, Sir!

Great post. Kudos to Marie for having mustered the courage to sell her home. Wise move. I hope she further secures her financial future by securing your firm’s services.

It’s been my experience that very few people have the interest and temperament needed to implement and maintain a solid portfolio much as you’ve described. Most people would do well to hire a reputable firm that charges a reasonable fee and just have them take care of things for them.

The difficulty lies in finding a firm that has the integrity to consistently act in their clients’ best interest. While I’m not a client, yours seems to be a rare exception. I would have certainly signed up with you by now if my many negative experiences with so-called advisers over the years hadn’t forced me to learn (with many bruises along the way) and to take charge of my affairs with a decent amount of stability and success. Nothing crazy good but decent enough for my needs.

It will be good for all of us to put this virus insanity behind us. Hopefully soon enough. All the best to you and fellow blog dogs.

#14 crowdedelevatorfartz on 09.13.20 at 3:49 pm

@35 Cuke and tomats
” just read in the Times Colonist that when the liberals get together in Nov. their main topic will be a UBI. ”

++++
An unmitigated economic disaster.
An obscene vote buying bribe.
Disgusting doesnt even begin to describe Hugo Trudeau’s socialist “utopia”.

If you think it was hard enough to find workers during the CERB “lottery win” ….just wait until EVERYONE gets UBI ( but the workers will be punished due to the extra UBI bumping them into a higher tax bracket).

The provincial Liberals in Ontario tried UBI on a small scale in Northern Ont. as they raised taxes and user fees for everyone else.
Business left.
They were toast in the next election.
Trudeau, Butz and Freeland view this as a grand social experiment that only they can make succeed…
Foolish. Naive. Social engineering.

Good luck federal Liberals….until the next election.

#15 Camille on 09.13.20 at 3:50 pm

Such excellent advice. This lady can have income, and not be concerned with market gyrations. There is no choice. Garth knows best, but sad to leave your house. But no money is worse.
I am curious though, why fixed income is given as 3.7%, but when the other 60% is added, we move to total return? Why can’t you separate 7% total return (future expectations based on historical returns), and this year’s expected real interest and dividend income?

#16 Dirty Dan on 09.13.20 at 3:51 pm

Maybe Marie can’t work a full time job, but there’s no reason she can’t supplement her income with side gigs. Trudeau recently announced a new program for entrepeneurs: https://www.usnews.com/news/world/articles/2020-09-09/canada-launches-its-black-entrepreneurs-program

#17 MF on 09.13.20 at 3:52 pm

Prediction:

She most likely won’t be able to resist plowing her money back into real estate somewhere, regardless of all the good advice Garth gives.

She will find rents are too high, and she will “hate paying someone else’s mortgage”. She will hate her “landlord” who probably won’t even be in the country anyways, or, will be just some guy who put 5% down on some overvalued condo and now thinks he’s smart. Her brother in law will chastise her every family dinner for renting too. She will read cheesy realtor flyers in her mailbox everyday, and how every house sold over asking in the newspaper. Also, first pullback in the market (and they are coming bigly) she will get nervous.

So she will end up just over paying for someone else’s crappy house/condo in the end again. They always do. This is why nobody really is winning here with this policy of weird bond buying (can that last forever?) and low interest rates around the world.

MF

#18 dogwhistle on 09.13.20 at 3:57 pm

#5 cuke and tomato picker on 09.13.20 at 3:00 pm

“I feel we have SOME PEOPLE that are to cool for school and to lazy to work.”

—————————————

Some people? How about most of the liberal, ndp and green electorate? all adds up.

I was reading a French website yesterday, laughing at Canada saying it was on its way down now, copying what led Europe down the drain…

Remember any change that is an ‘improvement’ for the plebs (aka hockey watching beer swuggling quad riding no books in the house) will remain, after all its other peoples money? right? It’s ‘rich’ peoples money right?

Give it a few years, let it stir. You’ll then have:

*Where did the doctor go? (south?)

*Where did the businesses, the real job creators go? (not the state, province and similar tit sucking parasites)

They gave up, slowed down to stay in a lower tax bracket, retired early.

That will then be followed by blame the foreigner (think it can happen in Canada? lol, they thought it couldn’t happen in liberal Tony Blair’s England, then 2016 happened)

What does NOT compute is killing businesses + UBI =
Where will the actual money come from? Ready to give up your RRSP’s, TFSA’s and Capital gains? For ‘fairness’?
Think it can’t happen? lol. In other countries (There’s a world beyond Canada… look it up) they started raiding savings, because covid, social justice and all that.

What also does NOT compute is million dollar houses to live in, drum roll, Ontario? lol

This will not end well. Canada is over. lol

#defundtheCRA

#19 Sara on 09.13.20 at 4:05 pm

#5 cuke and tomato picker
“However I feel we have SOME PEOPLE that are to cool for school and to lazy to work.”

Speaking of lack of schooling. Two times misspelling to in one sentence is too many times to be a typo.

#20 Sara on 09.13.20 at 4:09 pm

oops I meant “too”. That was a typo.

#21 Millennial 80%er on 09.13.20 at 4:15 pm

Looks like we have the answer for the inverted pyramid after all. It’s keep interest rates low so our old folk who don’t have healthy TFSAs or RRSPs can sell their house (aka a boomer TFSA) and retire off of that.

Remember, the best retirement fund you can have is 10 children

#22 Bartman on 09.13.20 at 4:18 pm

Me too.

#23 Damifino on 09.13.20 at 4:20 pm

#3 Bill

T2 is an idiot.
————————

He’s not an idiot, but rather, a misguided peacock who perfectly reflects the wishful imaginations of just enough Canadians to deliver a majority government soon.

Nothing you can do, Bill. Nothing.

#24 Don Guillermo on 09.13.20 at 4:21 pm

#17 dogwhistle on 09.13.20 at 3:57 pm
#5 cuke and tomato picker on 09.13.20 at 3:00 pm

“I feel we have SOME PEOPLE that are to cool for school and to lazy to work.”

—————————————

Some people? How about most of the liberal, ndp and green electorate? all adds up.

I was reading a French website yesterday, laughing at Canada saying it was on its way down now, copying what led Europe down the drain…

Remember any change that is an ‘improvement’ for the plebs (aka hockey watching beer swuggling quad riding no books in the house) will remain, after all its other peoples money? right? It’s ‘rich’ peoples money right?

Give it a few years, let it stir. You’ll then have:

*Where did the doctor go? (south?)

*Where did the businesses, the real job creators go? (not the state, province and similar tit sucking parasites)

They gave up, slowed down to stay in a lower tax bracket, retired early.

That will then be followed by blame the foreigner (think it can happen in Canada? lol, they thought it couldn’t happen in liberal Tony Blair’s England, then 2016 happened)

What does NOT compute is killing businesses + UBI =
Where will the actual money come from? Ready to give up your RRSP’s, TFSA’s and Capital gains? For ‘fairness’?
Think it can’t happen? lol. In other countries (There’s a world beyond Canada… look it up) they started raiding savings, because covid, social justice and all that.

What also does NOT compute is million dollar houses to live in, drum roll, Ontario? lol

This will not end well. Canada is over. lol

#defundtheCRA

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

Careful, poor little Shirly Skirts will get all choked up and offended and call you some really hurtful names ;)

#25 Mehling on 09.13.20 at 4:26 pm

Garth, thank you for the asset allocation splits – appreciated.

#26 O(otofthehoos on 09.13.20 at 4:27 pm

They do vote one way without shifting as data changes. So they are to blame.

#27 Linda on 09.13.20 at 4:33 pm

While it may be upsetting to move, as ‘Crowded’ said, Marie is more fortunate than many seniors. She had an asset to sell that due to Covid sold for over asking, which at her stage of life is a huge bonus.

Now if she does follow Garth’s advice & invest in a balanced & diversified portfolio that will give her much needed monthly income she is presumably set to enjoy her golden years. Don’t know her exact circumstances, but it rather sounds like she has only herself to rely upon. The main danger is if she decides to purchase another dwelling. Unless she finds a truly stellar deal that permits her to purchase while retaining a healthy chunk of her windfall to fund her retirement, purchasing RE is not the best move. Especially if it is a condo. As per many older ladies of my acquaintance, purchasing a condo was a decision they regretted. The issues relating to condo fees, special assessments, power mad condo boards etc. far outweighed any benefits. Not to mention that selling was an issue, with many losing money. Not a desirable outcome.

#28 dogwhistle on 09.13.20 at 4:42 pm

#23 Don Guillermo on 09.13.20 at 4:21 pm

Careful, poor little Shirly Skirts will get all choked up and offended and call you some really hurtful names ;)

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

Shirley? Don’t call me Shirley! I’m not sailedaway!!!

PS: Do you like gladiator movies Don Guillermo? ;-)

#29 cuke and tomato picker on 09.13.20 at 4:43 pm

Sara sorry I will do my corrections. SOME PEOPLE are TOO cool for school TOO lazy to work. I should know better because I have an elementary B ED and three semesters of various history courses which gave me a
PB plus 15 thanks to Donald Brothers B.C’s education minister back in 1969.

#30 Mike on 09.13.20 at 4:58 pm

DELETED

#31 Stone on 09.13.20 at 5:00 pm

Inescapable conclusion: savers are pooched. Women are at greatest risk. You know why.

———

She sold her house and then had a cry.

She doesn’t even realize she hit the jackpot in the lottery and got lucky enough to continue to live a life in dignity. She should be doing a happy dance and thank her lucky stars she found a greater fool.

The problem? No plan. No foresight. Incapable to think beyond her next meal or delay gratification. Incapable to evaluate risk. Incapable to take calculated risks. Focuses on emotions and hormones instead of logic. Needs someone to tell her how to think and what she should do. Crying over 2×4’s, plywood (or possibly dustboard), and drywall. Inconceivable.

The worst part: She probably will take the great advice she got and flush it down the toilet. Then, she’ll cry some more regretting selling the house. She may buy a GIC or even buy some crappy condo because it’s “safe”. Eventually she’ll live under a bridge or if she’s lucky, from someone’s charity.

Would be nice if I was wrong. Statistically, I’m not.

#32 Proud CERBian on 09.13.20 at 5:01 pm

My people are rising up to create the New Canada.

CERBians are everywhere. Embrace them. They are the future.

#33 Suzanne on 09.13.20 at 5:10 pm

#15 Dirty Dan on 09.13.20 at 3:51 pm

Trudeau recently announced a new program for entrepeneurs: https://www.usnews.com/news/world/articles/2020-09-09/canada-launches-its-black-entrepreneurs-program

=-=-=

Trudeau’s program only helps black people. What about the rest of us?

#34 Hide The Equity on 09.13.20 at 5:11 pm

Quick! Before it is taxed back from you.

#35 Bill Grable on 09.13.20 at 5:13 pm

#23 Don Guillermo

Your comments – are totally off-base and immature.
I also find it totally inappropriate to talk about how “Canada is over” and then laugh.
You are probably the first to complain if you don’t get a freebie from Ottawa.

Move, if you don’t like it – and we won’t miss you.

#36 crowdedelevatorfartz on 09.13.20 at 5:28 pm

@#31 Suzanne
“Trudeau’s program only helps black people. What about the rest of us?”

+++

Apparently you haven’t been following the News lately.

#37 crazyfox on 09.13.20 at 5:37 pm

Your thesis makes perfect sense to me, Garth. Interest from savings has been sacrificed at the altar for earnings but fixed income will provide.

Of course, this reassurance is coming from someone who no longer believes organized civilization will still exist 20 years from now. Perhaps its because I really have brushed next to the truth of it. Or, perhaps its because things can change so quickly in this world.

Case in point. In California, more than 3 million acres have burned this year:

https://www.cnbc.com/2020/09/12/fires-in-oregon-california-and-washington-spread-death-toll-rises.html

California has 156,000 square miles of land or, x 640 acres to a square mile, 99,840,000 acres. More than 3 million acres have burned up in Cali this year, or more than 3% of the state consumed by fire. Slightly more than 1 million acres went up in smoke by August 30th, meaning just within the last 2 weeks, fire has added 2 million more. Considering the unburnable areas of rock and desert California holds, has California lost 4.5… 5% of its forest and vegetation? Yep, most likely and its not over. Is this normal? Historically, no, it is not.

On one hand, as the U.S. drought monitor suggests, the western states is hot and dry:

https://droughtmonitor.unl.edu/

An official La Nina was declared 3 days ago, in part responsible for what is happening now:

https://www.theweathernetwork.com/ca/news/article/la-nina-declared-in-the-pacific-heres-what-it-means-for-hurricanes

We’ve had these cycles before, but what we haven’t had is the extent of acres consumed by wild fires in Cali. The previous seasonal record was 2 million acres in 2018. Sure looks like an ugly pattern associated with climate change to me. We might want to keep this in mind when we portray our financial institutions as steady stable and reliable when, in the same breath, the world continues to pollute and degrade environments unabated, overpopulation continues to worsen and the quality of life we get for it is 40% obesity, double digit diabetes and growing. Avarice and ignorance is clearly in charge. But how can this be! I mean, look! See! All is well, the market index is still strong, numbers don’t lie, it must be so, so all is well right? Right?

https://www.youtube.com/watch?v=neMObfw8Dqs

#38 Millennial 1%er on 09.13.20 at 5:39 pm

#32 Suzanne on 09.13.20 at 5:10 pm
https://en.wikipedia.org/wiki/Transracial_(identity)

#39 Indiegirl on 09.13.20 at 5:43 pm

Great advice today. Thank you.

#40 Millennial Realist on 09.13.20 at 5:44 pm

Mega change begins in 10 days.

Boomers, be part of the change.

Or be run over by it.

#41 Guillaume on 09.13.20 at 5:59 pm

The second wave of Trudeau has been hitting Canada hard, hopefully we will be able to avoid the third wave in forty years ….

#42 5Inatrailer on 09.13.20 at 6:13 pm

Hi Garth, long time reader (10 years already?) very infrequent poster.

Is there an etf that has your “Garth Portfolio” as listed by you in the post, or something close to that effect?
If not, maybe one of those Porsche driving employees could create one…

If the portfolio had to be purchased piecemeal, what is a decent amount to make it worthwhile vs just buying Orange guys balanced mutual fund? I find the orange guys app easy to use, easy to transfer in $ etc. Maybe the best option is to buy orange, and transfer the Tfsa to a q trade account once per year?

Thanks again Garth. I’m only 1 guy but probably the silent majority that appreciates your advice more than you know.

#43 Exilled on 09.13.20 at 6:29 pm

Sir Garth:

For your eyes only?!

Rt/news Shows

On Contact : Economic & political collapse of USA

Very sad depressing!!

#44 dogwhistle on 09.13.20 at 6:29 pm

#34 Bill Grable on 09.13.20 at 5:13 pm
#23 Don Guillermo

Your comments – are totally off-base and immature.
I also find it totally inappropriate to talk about how “Canada is over” and then laugh.
You are probably the first to complain if you don’t get a freebie from Ottawa.

Move, if you don’t like it – and we won’t miss you.

————————————————

Blame ME not teflon Don.

Hey Bill, wan’t a hug?

Let’s start with:

READING, one of the basic skills

HUMOR: What separates us from animals. Lol

I don’t want any freebies that enslaves, I don’t want to wave flags or wear a red cap, I don’t want to pay for people who whine. lol

#45 crazyfox on 09.13.20 at 6:31 pm

#3 Bill on 09.13.20 at 3:00 pm

“We produce a fraction of 1% of the global carbon emissions and theres no correlation between carbon and global warming…I mean climate change.
Its our smallest problem likley.” – Bill

You got my attention not just because your spelling and punctuation is sub middle school, but because your use of fractions is elementary. Canada produces 5 million barrels of oil per day in a world that consumes 100 mil. If you can’t understand the significance to this, it’s unlikely that you possess the tools to understand something a touch more complicated, like C02’s relation to climate change. Its ok (or not), you are far from alone:

https://www.bing.com/videos/search?q=Trump+suggests+using+rakes+to+fight+fires&&view=detail&mid=27E7A1C79043C6AF6DBB27E7A1C79043C6AF6DBB&&FORM=VDRVSR

#46 Nonplused on 09.13.20 at 6:42 pm

Well absolutely nothing controversial today so I’ll make my own:

Rumors are circulating that several people have been arrested and charged with arson in association with some of the wildfires in the US. The FBI denies that they have evidence it was Antifa, so cool your jets. But something like 87% of wildfires are ultimately found to be caused by careless or malicious humans. Like that idiot in California who started a big one with pyrotechnics at his “gender reveal party”. I’ve seen the video the idiot made of his handiwork. Boom! Big cloud of blue smoke. Fire. The memes that resulted have been quite humorous.

Anyway I wouldn’t put it past people associated with Antifa to start fires. If they’ll torch the city in which they live why wouldn’t they torch the forests?

Oh and now the looters are out in the evacuated zones helping themselves to those poor people’s TV’s and such. I think humans must also lie on a distribution that goes from “evil” to “good” just like IQ is distributed, only the average is zero rather than 100. Maybe they figure that if it’s all going to burn anyway they may as well help themselves to some free stuff, but I think it is more just good ol’ criminal opportunism. Maybe they deserve 4 more years of Trump.

Last night some idiot was setting off fireworks not far from my house despite that they are banned because we are under a “fire advisory”. Yep. Sometimes your neighbor is the enemy. Bubba don’t care if he burns the whole place down, he has a right to party. It must be the same psychology that makes people furious that they have to wear a 40 cent mask in Costco, even when Costco will give them one for free.

Speaking of masks, now the greenies are saying we shouldn’t use disposable masks because they end up in the landfill, with the plastic straws I suppose. K-cups are still ok though. You just can’t win for losing these days. Nothing is acceptable. No matter what you do it is going to offend some Karen or another. And they are going to tell you about it.

Anyway the forecast for tomorrow is “smoke”.

#47 Nonplused on 09.13.20 at 6:53 pm

#5 cuke and tomato picker on 09.13.20 at 3:00 pm

“I am in favour of helping the mentally ill, the physically disabled and single mothers with children.”

Why did you include “single mothers with children” in your list? The vast majority of them get child support and spousal support, and half the assets. Mentally and physically disabled people do not arrive in that situation by choice, so I will agree with that, but single mothers? It is not an affliction. A pandemic perhaps, but not an affliction.

#48 Kato on 09.13.20 at 6:53 pm

#39 Millennial Realist on 09.13.20 at 5:44 pm
Mega change begins in 10 days.

Boomers, be part of the change.

Or be run over by it.
___________________

I haven’t understood this from the time you started posting it. What are Boomers supposed to do? How will being part of your change stop them from being run over?

I’m an Old Millennial, spent 15 years in the army and work in industry now. I have a paid-for house and some investments.

If the primary residence exemption is scrapped or the capital gains inclusion is upped, what difference does it make if I am a part of the change or not? If “the change” is my taxes going up, they will go up with or without my support.

It sounds more like you’re saying, “Be part of the change. You’re getting run over either way,” but that would actually apply more to you, me, and the next generations…

#49 Stone on 09.13.20 at 6:59 pm

#32 Suzanne on 09.13.20 at 5:10 pm
#15 Dirty Dan on 09.13.20 at 3:51 pm

Trudeau recently announced a new program for entrepeneurs: https://www.usnews.com/news/world/articles/2020-09-09/canada-launches-its-black-entrepreneurs-program

=-=-=

Trudeau’s program only helps black people. What about the rest of us?

———

Nothing stops you from identifying as black. We’re all from Africa ultimately. I value my heritage and so should you. And science backs up the claim that we’re all Africans. If the bank you deal with doesn’t accept that, well, sue their ass so hard with MSM media following every tidbit.

None of the banks would be stupid enough to deny anyone from that program if they know what’s good for them. Trust me – their Legal departments know that 100%.

Let’s see now: bank application includes following question – please confirm how black you are: ___%. Please provide saliva sample for genetic testing purposes.

Yeah, that’ll pass the smell test.

#50 45north on 09.13.20 at 7:05 pm

After paying a management fee (never agree to anything over 1%), this would provide her with about $2,700 a month (plus long-term capital protection). Add in the CPP, and she has $3,500 income. Not fit for a princess, but enough to rent a nice one-bedroom condo in a lovely town, maintain a car and eat. Once 65 looms, she can throttle back the income to retain more of the old folks’ pogey – OAS ($607) and possibly GIS ($916). Meanwhile she still has a portfolio of more than half a million. If there’s a need for assistance as she wilts, Marie’s in a better position to afford it.

which is the best option she could get

#51 Don Guillermo on 09.13.20 at 7:14 pm

#44 crazyfox on 09.13.20 at 6:31 pm
#3 Bill on 09.13.20 at 3:00 pm

“We produce a fraction of 1% of the global carbon emissions and theres no correlation between carbon and global warming…I mean climate change.
Its our smallest problem likley.” – Bill

You got my attention not just because your spelling and punctuation is sub middle school, but because your use of fractions is elementary. Canada produces 5 million barrels of oil per day in a world that consumes 100 mil. If you can’t understand the significance to this, it’s unlikely that you possess the tools to understand something a touch more complicated, like C02’s relation to climate change. Its ok (or not), you are far from alone:

*************************************
Sillyfox, it seems you have the comprehension problems.

Canada produces 5M BPD, world consumes 100M BPD.

Canada produces 0M BPD, world consumes 100M BPD

Yer a darn good speller tho

#52 Keith on 09.13.20 at 7:14 pm

Vancouver (NEWS 1130) – It has been nearly a decade since Gordon Campbell stepped down as Premier of BC, felled by the backlash to the Harmonized Sales Tax. His resignation came not even two years into a rare third-term and mere months after the 2010 Olympics. Now, a new book looks back at his first term in office.

“Gordon and I did not part on the best of terms. We certainly don’t go out of our way to find one another or find out what [one another] is thinking and reading these days,” admits George Abbott, who was Minister of Community, Aboriginal, and Women’s Services from 2001 to 2004. That’s not likely to change with the publication of Abbott’s new book, Big Promises, Small Government: Doing Less with Less in the BC Liberals New Era.

So, why write the book now? “Why now? Well, I think it’s a hugely important time to be thinking about questions around how do we fill things like fiscal deficits, how do we address economic problems — of course, we have some of the most difficult problems ever as a result of COVID-19,” he explains. “It’s not just a problem in British Columbia, it’s a problem in Canada, it’s a problem across the world.”

Big Promises, Small Government focuses on the first term of the Campbell government. The BC Liberals were armed with a powerful mandate after winning 77 out of 79 possible seats in the 2001 election, ending a decade of NDP rule. The big promise of the party’s New Era campaign platform was a dramatic tax cut that Gordon Campbell was convinced would pay for itself. That ended up being far from the case.

“It ended up being a $4.4 billion fiscal hole to be filled. The book is really the story about how we got there and how the government attempted to get itself out of that very deep hole,” says Abbott. “Again, I think there are some very important lessons there for our current situation.”

On Thursday, Finance Minister Carole James revealed the government faces a fiscal year-end deficit of $12.8 billion, up from the $12.5 billion forecast in July. Compare that to the February budget, which was projecting a modest $227 million surplus.

Abbott has this advice about tax cuts: “Governments need to think about, ‘Well, what will this look like if it doesn’t produce the benefits that we think it will? What are the unintended, unanticipated consequences? What are the cumulative impacts that might be occur social programs if we do this?'”

As Abbott lays out in the book, the Campbell government soon found it hamstrung by having to pay for a 25 per cent personal income tax cut and a pledge to have a balanced budget by 2004, all without sacrificing the budgets of core ministries like Health and Education. So, instead of doing more with less, the government now could only do less with less and Abbott’s ministry bore much of the brunt.

“I hope no-one seizes on tax cuts as, somehow, the recipe for getting ourselves out of the very big COVID fiscal hole that we have today because, if it doesn’t work out, it will produce even more adverse consequences than otherwise for the disadvantaged and the vulnerable who rely on social programs from the government.”

Abbott points out that Campbell and then-Finance Minister Gary Collins had decided beforehand to go ahead with the tax cut, even as the BC economy was on the edge of recession. “Governments will doom themselves to failure if they embrace, for ideological reasons, the kind of fast road to recovery that is seductive, but which, I think, holds unacceptable risks for the population of British Columbia.”

As for what Campbell may think of Abbott’s conclusions, it may be best to let him have the last word on that too. “I hope that he gets angry enough would not be a nice way to put it, but I hope he gets fired up enough about my book that he will write a book himself. I think that would be an interesting counterpoint.”

Big Promises, Small Government: Doing Less with Less in the BC Liberals New Era is available from UBC Press.

#53 Dirty Dan on 09.13.20 at 7:18 pm

#46 Nonplused on 09.13.20 at 6:53 pm
#5 cuke and tomato picker on 09.13.20 at 3:00 pm

“I am in favour of helping the mentally ill, the physically disabled and single mothers with children.”

Why did you include “single mothers with children” in your list? The vast majority of them get child support and spousal support, and half the assets.

Here’s a $6M gig for single mothers:

https://globalnews.ca/news/7327501/couple-no-home-no-kids-spouses-ontario-court/

I’m not saying they’re all going to get $6M, but any long-term dating and you can probably net half a man’s assets. Do it twice and it’s like you took a single man for everything.

#54 MF on 09.13.20 at 7:19 pm

#20 Millennial 80%er on 09.13.20 at 4:15

This is what I have been saying for a while.

The low interest rate/weird bond buying misguided policy looks like it will continue as long as there is baby boomer in charge of the institutions that make these policies.

Someone else can deal with the ramifications later on so who cares.

It’s obvious where the millennial realist types gets their ideas from. The wealth divide is increasing and people are frustrated. Low interest rates are to blame.

MF

#55 Brian Ripley on 09.13.20 at 7:19 pm

My Millionaire Metric chart with August data is up showing plots of Vancouver, Calgary & Toronto Single Family Detached and a Millionaire all priced in $CAD Ounces of Gold

http://www.chpc.biz/millionaire-metric.html

10 years ago one needed 771 ozs of CAD Gold to be a millionaire. Now, one only needs 386 ozs or 50% less.

In August, an average priced single family detached house
in Vancouver cost 633 ozs of CAD gold
in Toronto cost 453 ozs of CAD gold
in Calgary cost 213 ozs of CAD gold

We have seen single family detached houses, Gold, Bitcoin, Bonds and Equities all spike since March while interest rates have been stepped on by the state and the banking sector.

But the commodity indexes and the price of Crude Oil appear to be telling a different story and are not benefitting from decreased carrying costs:
http://www.chpc.biz/tsx-indexes.html

#56 Nonplused on 09.13.20 at 7:28 pm

#50 Don Guillermo on 09.13.20 at 7:14 pm
#44 crazyfox on 09.13.20 at 6:31 pm
#3 Bill on 09.13.20 at 3:00 pm

“We produce a fraction of 1% of the global carbon emissions and theres no correlation between carbon and global warming…I mean climate change.
Its our smallest problem likley.” – Bill

You got my attention not just because your spelling and punctuation is sub middle school, but because your use of fractions is elementary. Canada produces 5 million barrels of oil per day in a world that consumes 100 mil. If you can’t understand the significance to this, it’s unlikely that you possess the tools to understand something a touch more complicated, like C02’s relation to climate change. Its ok (or not), you are far from alone:

*************************************
Sillyfox, it seems you have the comprehension problems.

Canada produces 5M BPD, world consumes 100M BPD.

Canada produces 0M BPD, world consumes 100M BPD

Yer a darn good speller tho

———————————–

It’s easy to blame the “producers” for all these nasty plant food emissions, especially while filling your car with gasoline. Ultimately consumers are responsible for consumption, there would be no demand for carbon based fuels if nobody wanted them. I see the whole thing as a bunch of virtue signalling. You can help stop global warming! Stop buying carbon based fuels and electricity. If everybody did that we wouldn’t need the government! But alas, I considered my options and decided that I am not giving up my car, lights, furnace, food, and internet.

#57 SoggyShorts on 09.13.20 at 7:31 pm

#19 Sara on 09.13.20 at 4:09 pm
oops I meant “too”. That was a typo.
*******************
Classic case of Muphry’s law.
Couldn’t have happened to a better “contributor”

https://en.wikipedia.org/wiki/Muphry%27s_law

#58 the Jaguar on 09.13.20 at 7:37 pm

@ Don Guillermo

Hola amigo. I imagine you see what has been happening here. Trolls have been invading this blog. Really nasty people, no need to name them. Bill Grable is a good egg, I think he read the other person’s comments as yours.
Unfortunately posting comments here has become unpleasant as the trolls are here for target practice.
I’m ‘out’, but just wanted to say thanks for the good info on the pub in Mazatlan. Due to work commitments it looks like I may not get a beach break until December 19th, but come hell or high water my toes will be in the sand on that day. Best to BillyBob, Don, Wul, NonPlused, and the other interesting regulars.

#59 the Jaguar on 09.13.20 at 7:42 pm

@ Don Guillermo
Meant to include this. Troll. Shirl’s sister, I suppose…

#43 dogwhistle on 09.13.20 at 6:29 pm

Example of the trolling…………………………

#60 Sara on 09.13.20 at 7:56 pm

#56
“Classic case of Muphry’s law.”

What is Muphry’s law?

And what exactly do YOU contribute to this blog? :)

#61 Barb on 09.13.20 at 8:04 pm

A light went on today!

Suzuki’s The Nature of Things today featured “The Power of Play”, in which the consensus was that millenials (ahem…) are more than three times as likely as their parents to have psychological problems.

Certainly relates to a couple of commenters…

#62 Don Guillermo on 09.13.20 at 8:12 pm

#58 the Jaguar on 09.13.20 at 7:37 pm
@ Don Guillermo

Hola amigo. I imagine you see what has been happening here. Trolls have been invading this blog. Really nasty people, no need to name them. Bill Grable is a good egg, I think he read the other person’s comments as yours.
Unfortunately posting comments here has become unpleasant as the trolls are here for target practice.
I’m ‘out’, but just wanted to say thanks for the good info on the pub in Mazatlan. Due to work commitments it looks like I may not get a beach break until December 19th, but come hell or high water my toes will be in the sand on that day. Best to BillyBob, Don, Wul, NonPlused, and the other interesting regulars.

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

Jag, very sorry to see you go. Hope you come back. I’ll save you a seat at the pub in December.

Hasta Pronto Senior!

#63 Drew on 09.13.20 at 8:13 pm

I have a 60 yr old female friend who just bought a small house in Toronto. This is after a lengthy divorce proceeding. She could have put the divorce proceeds into a balanced fund and have some consistent income every month, along with CPP and OAS.
No job and no dependants. But she’s put a big chunk of it down on the hope of real estate, and I hope it works out for her, but we’ll see.
So I agree with the commenters that Marie made a good decision to sell, but I hope she doesn’t fall back into the grip of real estate.

#64 Ponzius Pilatus on 09.13.20 at 8:15 pm

#46 Nonplused on 09.13.20 at 6:53 pm
#5 cuke and tomato picker on 09.13.20 at 3:00 pm

“I am in favour of helping the mentally ill, the physically disabled and single mothers with children.”

Why did you include “single mothers with children” in your list? The vast majority of them get child support and spousal support, and half the assets. Mentally and physically disabled people do not arrive in that situation by choice, so I will agree with that, but single mothers? It is not an affliction. A pandemic perhaps, but not an affliction.
————-
Your ex took you for everything you had?
I think you had it coming.

#65 SoggyShorts on 09.13.20 at 8:17 pm

#60 Sara on 09.13.20 at 7:56 pm
#56
“Classic case of Muphry’s law.”
What is Muphry’s law?
And what exactly do YOU contribute to this blog? :)
*****************
Seriously? You can’t even figure it out with the link?
As for contributions, I’ve posted my PF many times, explained FIRE concepts and linked to useful articles(that I extensively research), given advice on employment and provided the perspective from a small business owner in Alberta.

You’ve… complained about Sail Away?
Attempted to correct spelling while insulting another poster?

“Muphry’s Law” went over your head, try this one: “DIAF

#66 Re elect no one on 09.13.20 at 8:31 pm

DELETED

#67 crowdedelevatorfartz on 09.13.20 at 8:34 pm

@#48 kato
“It sounds more like you’re saying, “Be part of the change. You’re getting run over either way,” but that would actually apply more to you, me, and the next generations…”

*********

I think what Millenial Surrealist is referring to is the very real possibility that Millennial Super Models caught cheating on their Canadian taxes……… will be changing Boomers thirsty underwear for a minimum 6 months……..

https://www.dailymail.co.uk/news/article-8728449/Supermodel-Bar-Refaeli-sentenced-9-months-community-service-evading-taxes.html

“Oh nurse! Nurse! I think I did Number 1 in my pants again!!!!!!”

Retirement isnt so bad.

#68 MF on 09.13.20 at 8:43 pm

#58 the Jaguar on 09.13.20 at 7:37 pm

No need to give up. There are trolls around, and sometimes they get to me too. Just ignore. You’ll find out who is a troll and who isn’t eventually.

Even though i don’t agree with all your points, you are a good poster. So stick around.

MF

#69 crowdedelevatorfartz on 09.13.20 at 8:52 pm

@#52 Keith
““I hope no-one seizes on tax cuts as, somehow, the recipe for getting ourselves out of the very big COVID fiscal hole that we have today …

++++
While I think his book sound interesting.
I dont think we’re talking about the same thing when we talk taxes.
I dont think any self respecting, tax paying citizen begrudges taxes for Health Care, roads, police, firefighters, education, etc.
All the things required to maintain and allow a democracy to flourish.
But when we see taxes urinated against the wall by the HUNDREDS OF BILLIONS OF DOLLARS for every socially aware, equality for all, politically correct , photo op, flavor of the moment………..
That’s when taxpayers say…… no more.

Taxpayers arent asking for cuts.
They are fearing the results of Trudeau’s out of control, manic , spending spree for the foreseeable future and the future if generations to come.
He has nothing to worry about , his trust fund is locked in and his wife comes from Quebec royalty. Win win.

His dabbling in a massive , economic, social experiment which by all other previous indications (Ontario’s previous Liberal govt, Venezuela, Cuba, Russia) will be a horribly expensive (for taxpayers) failure.
Newsflash;
People that get “free” money become lazy sloths , dependent, leeches to a system that is unsustainable. It will drag everyone down.
That is what Universal Basic Income is.

But look on the bright side.
Drug addicts wont need to steal as much to support their habits so some crime might go down ….but….. unfortunately , fentynal deaths will continue to blow the doors off Covid deaths 10 to 1

#70 crowdedelevatorfartz on 09.13.20 at 9:19 pm

The photo reminds me of a joke that Felix will like.

A dog walks into a bar with a toad on his nose and orders a drink.
The bartender is somewhat taken aback at seeing a talking dog but says nothing and pours a beer in a bowl and puts it on the floor.
The dog laps it up and orders another, then another, then another.
The bartender’s curiosity eventually got the better of him and while pointing at the toad said, “Where’d you get him?”
The toad looked at the bartender and said, “It started out as a wart on my butt!”

#71 dogwhistle on 09.13.20 at 9:30 pm

#59 the Jaguar on 09.13.20 at 7:42 pm

#43 dogwhistle on 09.13.20 at 6:29 pm

Example of the trolling…………………………

———————————————————-

Are you feeling hurt by someone with a different opinion mixed with a sense of humor and some international experience?

Maybe you didn’t read between the lines and failed to understand all of this is quite sad for this country?

Oh well. lol

#72 Stan Brooks on 09.13.20 at 9:36 pm

The beauty of it is that savers pay taxes on their nominal ‘gains’ from that generous sub 1 % interest on deposits and GICs (if lucky and long term locked) while cost of living increases north of 8-10 %, in same cases in double digits, see chapwood index.

It never stopped bothering me why people insist on calling ‘monetary’ policy something that is clearly a policy but hardly related to money, mostly to arbitrary coupons with expiration date, i.e utter crap.

Cheers,

#73 Don Guillermo on 09.13.20 at 9:39 pm

#68 MF on 09.13.20 at 8:43 pm
#58 the Jaguar on 09.13.20 at 7:37 pm

No need to give up. There are trolls around, and sometimes they get to me too. Just ignore. You’ll find out who is a troll and who isn’t eventually.

Even though i don’t agree with all your points, you are a good poster. So stick around.

MF
****************************************
Classy MF. Nice!

#74 Sure on 09.13.20 at 9:59 pm

Menewhile Sara, incomplite sentence and noo capidalization on the beginneggghinnging of the sentenses . Oops so many spelling and grammatical errorss. Maype I need less wine.

#75 BS on 09.13.20 at 10:12 pm

#45 crazyfox on 09.13.20 at 6:31 pm

You got my attention not just because your spelling and punctuation is sub middle school, but because your use of fractions is elementary. Canada produces 5 million barrels of oil per day in a world that consumes 100 mil. If you can’t understand the significance to this, it’s unlikely that you possess the tools to understand something a touch more complicated, like C02’s relation to climate change. Its ok (or not), you are far from alone:

You got my attention because your logic and reasoning is sub elementary school. Your logic seems to assume if Canada shut down its oil industry (which supplies 5% of the worlds oil) that oil would not be burned.

If Canada shutdown its oil that oil would be produced somewhere else and still be burned worldwide at the same level. Probably produced at a higher energy cost to extract in more environmentally sensitive areas like offshore or with less regulations like in developing nations. The only benefit may be more people in Canada being unemployed would have less money to heat their house and drive. But that would be offset by those countries who produce the oil Canada refuses to. I think that is actually Trudeau’s plan for climate action. Kill the Canadian economy.

#76 will on 09.13.20 at 10:18 pm

Another easy one Garth. $535,000 ought to yield around $2500 per month (you are a little ahead of me at 2700). Add in the CPP and OAS and the lady is off to the races. No solution to the tears though.

Marie, you have lots of friends out there. I’m one of them. Just do as Garth says and it’s all good.

#77 Ronaldo on 09.13.20 at 10:26 pm

Marie is in a very similar situation as a single lady friend except that Marie is getting 800 CPP vs. friends 450.

The most that Marie would receive in GIS in addition to her CPP and OAS would be 375 per month. If she were to receive an additional 9000 per year in income from investments her GIS would be clawed back entirely.

The government allows persons who are elligible for GIS to earn from employment $5000 annually without clawback to their GIS.

So right now without any other income from investments Marie is elligible to receive 988 in OAS and GIS plus her 800 CPP for a total of 1788. She would also be elligible for other means tested benefits. Not fit for a princess for sure.

https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/payments/tab1-31.html

#78 crazyfox on 09.13.20 at 10:31 pm

51 Don Guillermo on 09.13.20 at 7:14 pm

Last I looked, Canada “consumed” and therefore directly polluted anywhere from 2% of the world’s C02 emmission if you believe Canadian politicians, to 2.7% if you don’t (and use updated stats) and we certainly produce more than that (like any other “dealer”, we aren’t responsible for what we sell from there right, so consumer beware) but that’s not even the point (or so it is). The inaccuracies, fallacies, ignorance and outright lies to an answer that should be so straightforward is a mere prelude to what to do about the larger problem of global pollution.

What do we do about it? We make excuses… like everywhere else only more so because we Canadians have more skin in the game, because we are producers. Not only producers, we belong to political parties (fancy word for a cult as well as economic cults too, I might add) who go above and beyond protecting these same producers or so we think and there lies the rub.

Are we to think for a moment oil burners and oil worshippers don’t or won’t vote Conservative? Just as conversely, are opposition parties any different, not looking at the value of oil if it remains “unburnt”?

Just a few points to show you the absurdity of politics and their easily led, simple minded followers (what, do you want me to lie, they really are simple!).

– Synthetic oil is 84% recycled.
– The vast majority of plastics remain unburned and is theorized to see about 84% ending up in a landfill over a 100 year life cycle.
– Asphalt, some 30% of what is mined in Northern Alberta is, you guessed it, unburned.

Of course, we get all worked up over emissions upstream. Uh, what about downstream… anyone? of course, the future of light crude and its downstream production use in gasoline and diesel does not look so bright. How much actual light crude does Canada produce, anyone? (Ignorance knows no bounds)

Good luck imagining a world without plastics, asphalt and synthetic lubricants. And yet, its not so hard to imagine a world where oil remains unburnt (lest you belong to a political/economical cult). It’s absurd to look at it so blindly black and white and yet we do or absolve ourselves of any responsibility of what we sell, trade (and criticize) when it lines our pockets or lines up with the political and economic cults we worship that rots our brains.

The excuses we make to avoid responsibility are likely the most abhorrent of all. We’ll never admit what’s behind our excuses (I see that I’ve become too polite and here I stand accused as a troll, go figure) excuse me, LIES that we tell ourselves for whatever dumb assed reason, greed, intellectual vanity and pride over our favorite preference of political cult or within the excuse (did it again, its lies) as though we actually thought of it all on our own and came up with it “first”, yes, that intellectual vanity and pride that comes with loser lies like “we produce a small fraction of the problem” so we aren’t responsible” or “there’s nothing anyone can do, its bigger than us all” or “we don’t have viable replacements, we aren’t there yet” and on it goes. All excuses, all lies we swallow and repeat followed, I must presume, by a whole lot more lies in different contexts because that’s the truth of it. A liar is as a liar does.

If you are the maker of a drug company and you manufacture drugs that harm more than help, is that good business? Food products that shorten peoples lives… inferior, defective parts and products, is that good business? Should we absolve ourselves of any responsibility when we manufacture and sell drugs, weapons, food, manufactured goods of any kind etc. is that good business? When we sell anything to someone who can’t handle the responsibility, is that good business? Is this how we do business? Tough questions. We are corrupt if we say yes and liars if we say no. (might want to plead the 5th on that one)

Apologies if I’ve somehow offended anyone on this I’m sure to be 18+ site (somehow, I’m sure we can handle it). But if anyone including you Don, wants me to call a spade a club or a diamond a heart, you’d best find someone else. That being said, if you don’t like being called a liar, simple minded, easily led outright immoral and why not, lets throw “heathen” in there, read Luke 16. That is, if anyone still cares about right from wrong these days. I mean, the answers have been in print for centuries now (friggin’ illiterate heathens, can’t even read between the lines):

https://www.biblegateway.com/passage/?search=Luke+16&version=NKJV

#79 Ronaldo on 09.13.20 at 10:32 pm

Nanaimo’s Woodgrove Mall has been sold to Chinese investor. Sounds like she has great plans for it.

https://nanaimonewsnow.com/2020/09/11/woodgrove-centre-sold-investor-focused-on-health-and-education-for-kids-seniors/

#80 GRG on 09.13.20 at 10:50 pm

Trudeau recently announced a new program for entrepeneurs: https://www.usnews.com/news/world/articles/2020-09-09/canada-launches-its-black-entrepreneurs-program

=-=-=

Trudeau’s program only helps black people. What about the rest of us?

I have no idea what the T2 government’s definition of “black” is.

But isn’t this an attempted Canadian solution to what is actually a USA historical problem?

Shouldn’t we be asking the Rt Hon T2 about where we are with Canada’s historical issue – the promised reconciliation with our First Nations?

#81 DON on 09.13.20 at 11:54 pm

Don Guillermo on 09.13.20 at 9:39 pm
#68 MF on 09.13.20 at 8:43 pm
#58 the Jaguar on 09.13.20 at 7:37 pm

No need to give up. There are trolls around, and sometimes they get to me too. Just ignore. You’ll find out who is a troll and who isn’t eventually.

Even though i don’t agree with all your points, you are a good poster. So stick around.

MF
****************************************
Classy MF. Nice!

‘**************

Very nice MF.

JAG – ENJOY your break.

Come back soon!

and Always ignore a dog that whistles.

#82 Karlhungus on 09.14.20 at 12:43 am

Why throttle back the income ? Doesn’t oas clawback start at 78k?

#83 millmech on 09.14.20 at 12:54 am

#38
The best part is going through with this and getting the funding you will not have to pay it back, just call it reparations, it is all good.

#84 Keyboard Smasher on 09.14.20 at 1:20 am

Hey guys, let’s collapse your economy and implement communism for 0.024% over what is basically a bad flu!

#85 Bill on 09.14.20 at 2:11 am

#23 Damifino on 09.13.20 at 4:20 pm

Your not wrong but I say an idiot because he doesnt understand the long term unintended consequences of his actions. Doing what it takes to satisfy the clueless to aquire votes in the process these actions are literly what destroy a business or a country long term.
Why work and be productive? Thats actually what gives humans a sence of self worth pride ect ect.
Yup nothing I can do but keep my tangables.
On the shiny side my RE and gold have are looking very good longer term thanks to Currency debasement.
Every year building supplies goes up at least 5 points I just smile…thatls another $300k to build my RE and it compounds…SWEET..Never sell.
Best!

#86 Bill on 09.14.20 at 2:22 am

#69 crowdedelevatorfartz
BLOODY NAIL IT nice work.

#87 Tim123 on 09.14.20 at 2:40 am

Good advice Garth. Savers who are not savvy investors are certainly screwed. The financially illiterate are probably in big trouble. I suggest people educate themselves on financial matters so they can better invest for their retirement. It is not difficult, it just takes persistence and patience to increase your understanding of investing.

#88 Steven Rowlandson on 09.14.20 at 7:41 am

“The great part was a price $50,000 more than expected. Marie walked away with $535,000 from that deal.”

Since that is close to the average home price does one expect the average wage earner getting minimum wage more or less to pay 90 to 100 dollars an hour for that home on a 14 or 15 dollar an hour income under the 3 years pay rule? That home buyer would need a 700% raise in pay and that is not ever going to happen.
One of the benefits of wage suppression to control inflation. The policy might have limited wages but it did not limit price inflation and the debts that created
and enabled it. Therefore the policy is a failure unless you like slavery and genocide.

Why should someone earning minimum wage – likely without marketable skills or sufficient education – be entitled to home ownership? – Garth

#89 jess on 09.14.20 at 8:36 am

Precarious bond pools,

As Coal Declines, Agency Raises Red Flag on Reclamation |
http://www.courthousenews.com › as-coal-declines-agency-ra…
States recognize three major types of financial assurances for reclamation: surety bonds, collateral bonds and self-bonds. With a surety bond, the operator pays a …

‘House of Cards’ to Pay for Coal Mine Cleanup – DeSmog
http://www.desmogblog.com › 2020/06/25 › coal-surety-bon…
Jun 25, 2020 – Precarious bond pools, already inadequate bonds, and surety providers playing a risky game are a dangerous combination. “It’s a house of cards,

Growing in Canada

Mack Lamoureux of the news site Vice first reported last spring that the Three Percenters had established a chapter in Alberta. Nearly a year later, CBC’s The Weekly has uncovered details about the group’s growing membership, including a newly established chapter in Ontario and members spanning every province.

https://www.desmogblog.com/2020/07/21/three-percenters-militia-bakken-oil-oneok-domestic-terrorism

#90 Dharma Bum on 09.14.20 at 9:02 am

Why are old women so emotionally attached to their houses?
I’ve been trying for years to convince my ol’ lady to get rid of our place, free up the capital, downsize, and have more financial flexibility.
No luck.
Sometimes they can be their own worst enemies.
Jeez…it’s just bricks, wood, and concrete.
Don’t they realize the “memories” are in their head?
Bring some photographs and hang them in a new, smaller, less expensive joint.
I need a new Harley.

#91 SaraKan'tSpell on 09.14.20 at 9:11 am

#74 Sure on 09.13.20 at 9:59 pm
“Menewhile Sara, incomplite sentence and noo capidalization on the beginneggghinnging of the sentenses . Oops so many spelling and grammatical errorss. Maype I need less wine.”

Ha Ha. Do I make many errors in my comments? Really? Can’t see them for looking at them.

Can I start a sentence with “can’t”? Silly me. And I am not a drinker. No excuses. :)

#92 Don Guillermo on 09.14.20 at 9:16 am

#78 crazyfox on 09.13.20 at 10:31 pm

hmmm, lots of words. Could of explained your position easier with your last few sentences.

BTW, I like “heathen”;

…. lets throw “heathen” in there, read Luke 16. That is, if anyone still cares about right from wrong these days. I mean, the answers have been in print for centuries now (friggin’ illiterate heathens, can’t even read between the lines):

https://www.biblegateway.com/passage/?search=Luke+16&version=NKJV

#93 Scott Cordier on 09.14.20 at 9:23 am

Hey GIC’s, I was thinking similar thoughts. They meaning central banks, governments are back stopping, guarantee that all these zombie companies, businesses to stay not only afloat but rising stock, bond prices.

They can say, we guarantee a 20% annual interest or return on all stocks, shares and there is no more risk. The GIC market in Canada is about $1 trillion so they can afford another $200 billion a year there too, even $100 billion a year guaranteed interest if they guarantee 10% a year interest.

The truth is the Liberals, NDP, Green Party, Democrats, Labour Party, left, socialist, communist, marxists are all thieves. One of the points of the communist manifesto is a central bank. We don’t have a free enterprise, capitalist, free market economy for a long time. Garth, you know this is true.

#94 SaraBeingSerious on 09.14.20 at 9:24 am

Serious question here fellow blog dogs, but do excuse the grammar, spelling, incomplete sentences and run-on sentences, as unlike the teacher who admitted he didn’t know the difference between “to” and “too” (sorry to bring it up again), I don’t teach our children, so that’s good.

My question is: “If you had 150K to invest, would you dump it all into a balanced portfolio in one shot right now? Or stagger it in to the markets over the next few months? Or wait until after the US election? Thoughts?”

Wait until the economy reopens further, a vaccine arrives, employment rekindles and prices go up. Then you can buy less. Good thinking! – Garth

#95 David Hawke on 09.14.20 at 9:27 am

Why should someone earning minimum wage – likely without marketable skills or sufficient education – be entitled to home ownership? – Garth

WOW!!! Usually I am in agreement with your comments, however, that one sure brought out the 1%er side of you!

Are you saying that when one’s circumstances change they should be forced to sell and rent (shades of Dictator Trudeau)?

There are other options, the best relocating to a reasonably priced country with a decent climate and purchasing a home there for 1/10th the cost of one in Canuckista!

Just sayin’.

#96 Ubul on 09.14.20 at 9:48 am

The mind blowing part is that in Canada, after working for decades, a retired tax payer is financially unable to stay in the mortgage free house.

The system is set up in a way that the average retired person would not be able to maintain even the modest wealth that was accumulated over a life time – and maybe pass it on to the next generation. They are stripped financially before they die, unless they are willing to try living on gourmet cat food.

If passing on even modest accumulated savings is no longer possible, then the smart choice is to live and enjoy life during the productive years, give away any extra money at that time. Make sure to accumulate nothing, to become fully qualified for government provided housing and all the available benefits. Continuing life without much sweat, as before, to make retirement golden, too.

#97 George S on 09.14.20 at 10:23 am

After reading today’s comments I think that there are some people that don’t have a very good understanding of the taxation system and climate change.

You aren’t really “punished” when increasing your income puts you into a “higher tax bracket”. The increased rate of provincial and federal income tax is only applied to the income earned over a certain amount. At some points on the increasing tax scale the increase is only a few percent. I guess you could view this as a punishment, but you do get to keep a pretty good chunk of the income and most moderately high income people can increase their fees and prices to keep themselves in the style to which they have become accustomed.
A friend’s father was a corporate lawyer. He would always marvel at how wealthy farmers would always buy new, expensive, unnecessary equipment so that they could use it as a depreciating asset to reduce their income tax and never enjoy their income when they are young and healthy by going on holidays or having at least some recreational time instead.

Climate change is a worldwide issue that will require the cooperation of the entire world to attempt to fix. Developing countries are exempt from the Paris Accord and the USA has opted out, countries which produce a very large portion of the Carbon Emissions that the world produces. Some of the countries have hundreds of GW of coal fired power plants coming on line soon. And on top of everything else the population of developing countries is increasing at a much faster rate than developed countries so more people means more power needed. So maybe if Canada stopped all fossil fuel production and went completely “green” with zero emissions, the other 8 billion people in the world would be inspired to change their habits and follow suit but given the current political climate in the world’s most developed country where at least 40% of the people won’t participate in even the simplest attempts to control a worldwide disease pandemic (AKA wearing a mask in public) you can imagine that the world is pretty much F-ed.

One of the best solutions to climate change is the worldwide adoption of nuclear power on a large scale similar to what has been done in France. Good clean base load power. It is never mentioned by the “green” crowd because they are indoctrinated to believe that it is evil and have very little science education.

#98 TurnerNation on 09.14.20 at 10:29 am

No fun allowed in the New System. Quebec banned Karioke. Taliban style we are living under. They h8 our freedoms right?
People will sing in basements, garages or backyards, until the CV religion police get them.

– The most valuable real estate in your big city sits under the big old night club venues and rip clubs.
This is 3rd rip club to close down now in Toronto. Filmore and For Your Eyes only are the first two. Condos coming for sure.

https://www.blogto.com/eat_drink/2020/09/strip-club-toronto-closed-6-employees-positive-covid-19/

—Remember you only get “cases” (I’m not calling it CV”) doing fun stuff. Never at LCBOs or in Government offices. The old Western ways of decadence must be torn down. New System worshipping and CV rituals must come first. Comply comply comply.

I saw the lineup stretching around the block this weekend. Healthy looking 20-somethings at the local CV testing centre. Might be required for their employment terms. Lines at drop-in clinics, with sick people? Not even.
As a twitter user apparently messaged, with a local news reporter, this CV thing is a year long plan, rollout. That means until 2021 at least. Shutting down the old system and culture.

#99 Doug in London on 09.14.20 at 10:51 am

@George S, post #97:
Finally, at long last there’s someone here who gets it, and understands what’s really going on with climate change. These extreme weather events we’re seeing now are the new normal, get used to it.

As for where to invest your money, forget GICs or money market funds. There are better deals to be had in bank stock ETFs like XFN, REITs, and telecom stocks like AT&T.

#100 Gruff403 on 09.14.20 at 11:08 am

Marie don’t be afraid to consider taking part of your windfall and buy a nice two bedroom condo. Better to buy something nice then rent a dump. Better to rent something nice then buy overinflated real estate.
I did this with my mom. Bought a nice condo and invested the difference. Condo currently under water (10%)but if you live in it for five years the cost works out to be similar. Fine to make $3500 but then give $1500 to rent or buy something nice and only pay taxes and condo fee. $450. Obviously don’t spend $500K on a property and have no cash flow. You could find something nice for $250K and still generate income with the remainder.
Bottom line – don’t rush into anything, avoid GIC’s, use your new found wealth to create cash flow and enjoy life. There are advantages and risks either way.

The worst advice. – Garth

#101 Jeremy on 09.14.20 at 11:13 am

Not good. Huge increase in covid cases today in Ontario.

“Daily average of new coronavirus infections has doubled in 3-week stretch”

https://www.cbc.ca/news/canada/toronto/covid-19-ontario-case-numbers-rising-legislature-returns-1.5720931

Kids going back to schools this week, many parents scrambling last minute in Peel Region to go online.

https://toronto.ctvnews.ca/peel-school-board-delays-online-school-launch-after-thousands-switch-to-virtual-learning-1.5103058

Folks, this looks like an ugly second wave is happening right in front of us.

Where can this go except towards another total lockdown within the next 1-3 weeks?

Then what?

Economic collapse. Bankruptices galore. Poverty and street violence everywhere. Real estate dropping. Many more jobs lost.

Will more money printing be possible?

Spring is 6 months away. Will we make it there intact?

#102 Tammy Simms on 09.14.20 at 11:14 am

Marie should be thankful she has now $535,000 in her account. If interest rates were even 4% to 5%, double or more than now, she would be getting at least $150,000 less for that house.

If GIC rates were at 3.0% to 3.25%, it would take at least 17 to 18 years after taxes, $150,000 net versus $225,000 gross taxable interest to get that money. She has that money now in advance.

Annuities and pension values work the same way, the buyout or payout, transfer is higher the lower market interest rates are. Most people don’t understand this basic math of low interest rates equals large pension, annuity payouts, transfers.

#103 Dina Santos on 09.14.20 at 11:22 am

Are you tired of the snow, cold winters, high taxes. Do you like Rio DeJaneiro or Acapulco or anywhere else in Brazil, Mexico. If you do, you can live off 6.25% to 7% interest rates, bank deposits, bank term deposits, government bonds.

So $535,000 at 6.25% to 7% is $33,437.50 to $37,450 interest a year well you have to convert to Brazil real or Mexican pesos but i could be an idea to look at.

#104 Sara on 09.14.20 at 11:32 am

#94 My question is: “If you had 150K to invest, would you dump it all into a balanced portfolio in one shot right now? Or stagger it in to the markets over the next few months? Or wait until after the US election? Thoughts?”

Wait until the economy reopens further, a vaccine arrives, employment rekindles and prices go up. Then you can buy less. Good thinking! – Garth

—————————————————————–

Thanks for the response Garth. I had been leaning towards going for it now, rather than later. Duh? Seems obvious, but that darn fear factor can be challenging to tame, as you know.

#105 yvr_lurker on 09.14.20 at 11:44 am

#88 Why should someone earning minimum wage – likely without marketable skills or sufficient education – be entitled to home ownership? – Garth

————————–

Why should a highly educated and high-earning couple bringing in over 300K a year be able to afford buying a detached house living in North Vancouver where the average house price is 1.6M? Although a city worker, and his wife pedalling Amway was able to do it in the 1970’s, it’s too much to ask now I’m afraid. , Instead, go spend the next 15 years saving for your deposit all the while paying your 54% marginal rate. Step out of the way and let those who are on the special family plan (large inheritances, gifted houses, and minimally taxed trust fund dividend accounts as Ace explained last week) step forward.

A couple making $300,000 a year who can’t afford a $1.6 million house have (a) saved too little and spent too much, for an insufficient down payment or (b) expect to go from no house to a nice house without climbing the property ladder and building equity over a few years. Use your head. – Garth

#106 Axehead on 09.14.20 at 12:03 pm

#99, 97.

The issue isn’t climate change; the climate has been changing since time eternal. The issue is rate of change and more importantly the root cause. To postulate that carbon emission is the root cause is more political than scientific. Empirical science cannot prove this hypothesis.

#107 X on 09.14.20 at 12:16 pm

Not sure how much the CERB ending will affect the RE markets. I do think AirBnB sales will impact the condo market though.

Low rates, pent up demand, and some sitting on cash on the sidelines waiting for a ‘good’ buy should keep the market propped up in some way at these inflated levels.

I am not convinced the market will loose steam in the next 1.5 years. Not saying it will continue higher, perhaps a plateau, but with low rates as fuel on this fire, I can’t see a change unless something structural changes, or perhaps a second wave of covid. Even at that, I suspect it will be a more strategic shut down that everyone getting paid to stay home again.

#108 Dogman01 on 09.14.20 at 12:27 pm

#43 Exilled on 09.13.20 at 6:29 pm

It does seem to be a global “class war”, the long term trend continues and seems to have been accelerated.

Several decades now where a narrow Elite interest has seized the agenda and enacted globalism thereby sowing the seed for the destruction of the Western world’s middle class based society, with National income shifted from workers to the owners of capital.

Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace
https://www.goodreads.com/book/show/52009042-trade-wars-are-class-wars

#109 Tbone on 09.14.20 at 12:29 pm

# 96. Ibul

Government provided housing probably won’t be very appealing to spend your retired twilight years .
Scary thought .

#110 Bill on 09.14.20 at 12:36 pm

#56 Nonplused on 09.13.20 at 7:28 pm

“We produce a fraction of 1% of the global carbon emissions and theres no correlation between carbon and global warming…I mean climate change.
Its our smallest problem likley.” – Bill

You got my attention not just because your spelling and punctuation is sub middle school, but because your use of fractions is elementary. Canada produces 5 million barrels of oil per day in a world that consumes 100 mil. If you can’t understand the significance to this, it’s unlikely that you possess the tools to understand something a touch more complicated, like C02’s relation to climate change. Its ok (or not), you are far from alone:
————————————————————
Firstly I could give a dam about spelling or punct. Believe you me its bloody meaningless so don’t even waist your breath.
Prolly (is that a word?) should where my glasses or get a bigger handset but back to don’t care.
But if your worried about it so much lets compare net worth’s.

I never was concerned about the global warming fear-mongering.
The fact that pretty much everything is derived from a form of fossil fuels. I burned $7,000.00 of fuel in one year in one pickup alone building cell networks. Our choppers run on Jet-B. No oil no toilet paper.
I’ve seen all the data back a hundred years most mainstream is BS.
So people that bitch about FF should stay home, freeze and starve with no TP Cell phone or inet.
Don’t sweat the small stuff.
Oh and if your at about $10 mil then we can talk…

#111 dogwhistle on 09.14.20 at 12:43 pm

#81 DON on 09.13.20 at 11:54 pm

“and Always ignore a dog that whistles.”

—————————————————–

Not nice, not fair gonna ask Justin for some funding so you can be re-educated into respecting dogs that whistle vs dogs that don’t.

#112 NSNG on 09.14.20 at 12:47 pm

You know the covid scare is over in the minds of the common folk when people start arguing climate change again.

#113 dogwhistle on 09.14.20 at 12:48 pm

Why should someone earning minimum wage – likely without marketable skills or sufficient education – be entitled to home ownership? – Garth

————————————————————

Why should someone earning minimum wage – maybe without marketable skills or sufficient education – subsidize via BOC the rescuing of mortgages and banks?

I am sure that made sense to you. – Garth

#114 Vladimir on 09.14.20 at 12:59 pm

“Marie walked away with $535,000 from that deal” – so, what was her rate of return on that house? Was it worth owning rather then renting for all these years in the end?

#115 SoggyShorts on 09.14.20 at 1:11 pm

#88 Steven Rowlandson on 09.14.20 at 7:41 am
“The great part was a price $50,000 more than expected. Marie walked away with $535,000 from that deal.”

Since that is close to the average home price does one expect the average wage earner …[to buy that house]?
******************************
Absolutely not. Why would the average own a home?
Certainly a minimum wage earner should not.

The average car in Canada is about $40,000, do you really think most people should own that too?
Burger flippers? Really?

When I worked minimum wage 20 years ago (~$5) I bought a $1,000 used car after 3 years and had 3 room mates.

#116 yvr_lurker on 09.14.20 at 1:25 pm

#105 A couple making $300,000 a year who can’t afford a $1.6 million house have (a) saved too little and spent too much, for an insufficient down payment or (b) expect to go from no house to a nice house without climbing the property ladder and building equity over a few years. Use your head. – Garth

———————–
The challenge in comparison to those from previous generations and before the extreme run-up in house prices, is the number of years it now takes to save for a big deposit for those without family assistance. Very high marginal taxes in Canada make it difficult for those who are driven and ambitious to get ahead, starting from zero. As Ace explained well last week, for those who never had to started at square one (i.e. who make their living on trust funds, inherited investments paying out dividends etc..) their tax burden is much less. Once you have your first million saved it is a much easier road; it’s getting to that stage starting from zero that is the challenge.

I hope that when they try to start paying off the largesse of T2 give-aways (some of which though were clearly needed) they do not only focus on increasing the marginal rate, and instead go after those who have live on dividends and captial gains and who have largely had immunization from clawback in the past. The numbers that Ace gave out last week were eye-opening.

#117 Millenial Surrealist on 09.14.20 at 1:37 pm

#110 Bill on 09.14.20 at 12:36 pm

#56 Nonplused on 09.13.20 at 7:28 pm

“We produce a fraction of 1% of the global carbon emissions and theres no correlation between carbon and global warming…I mean climate change.
Its our smallest problem likley.” – Bill

You got my attention not just because your spelling and punctuation is sub middle school, but because your use of fractions is elementary. Canada produces 5 million barrels of oil per day in a world that consumes 100 mil. If you can’t understand the significance to this, it’s unlikely that you possess the tools to understand something a touch more complicated, like C02’s relation to climate change. Its ok (or not), you are far from alone:
————————————————————
Firstly I could give a dam about spelling or punct. Believe you me its bloody meaningless so don’t even waist your breath.
Prolly (is that a word?) should where my glasses or get a bigger handset but back to don’t care.
But if your worried about it so much lets compare net worth’s.

I never was concerned about the global warming fear-mongering.
The fact that pretty much everything is derived from a form of fossil fuels. I burned $7,000.00 of fuel in one year in one pickup alone building cell networks. Our choppers run on Jet-B. No oil no toilet paper.
I’ve seen all the data back a hundred years most mainstream is BS.
So people that bitch about FF should stay home, freeze and starve with no TP Cell phone or inet.
Don’t sweat the small stuff.
Oh and if your at about $10 mil then we can talk
…..

Ok, Boomer Bill……….change is coming Sept. 23, you’re about to be run over by an EV……..

#118 Craig Wilkenson on 09.14.20 at 1:39 pm

My husband and myself lived and moved to Barrie in 1999 and did not make more than a $42,000 a year gross back in 1999. We did have a $11,000 combined savings working for 2 years already full time, we were 22 and 23 at that time.

We did put $10,000 went to the down payment on her house we bought in 1999 which cost us $135,300 but we mortgaged $125,300. It was a 7.40% down payment as we finished everything with the mortgage broker.

We did not make minimum wage back then which I believe was $7 an hour but we did only make $9.85 and 10.25 an hour each so we were not middle class but not minimum wage workers either.

We were lower income workers but even with 7.25% to 7.75% mortgage rates we did pay off our home in 11 years plus managed to put aside $65,000 in RRSP’s which we used the tax deduction to pay off the mortgage faster. Also, the fact that our gross income went up to $50,000 a year in 11 years by 2010 helped too.

We both now make modest gross income of $68,000 a year have 2 kids in their teens, no mortgage, no debts, 1 a little used 7 year old used car, GIC’s, term deposits, RRSP’s, TFSA’s, some dividend paying bank stocks, REIT’s, provincial strips and savings accounts totaling $325,000.

If you want to buy a house and are a lower income earner you must live in a smaller city or town. This is just the way it is.

#119 Penny Henny on 09.14.20 at 2:55 pm

#80 GRG on 09.13.20 at 10:50 pm
Trudeau recently announced a new program for entrepeneurs: https://www.usnews.com/news/world/articles/2020-09-09/canada-launches-its-black-entrepreneurs-program

=-=-=

Trudeau’s program only helps black people. What about the rest of us?

/////////

Try wearing blackface

#120 Dogman01 on 09.14.20 at 3:15 pm

#119 Penny Henny on 09.14.20 at 2:55 pm

Trudeau’s program only helps black people. What about the rest of us?

/////////

Try wearing blackface

—————————————-

Oh snap ..that’s a Zinger!

#121 In dubio on 09.14.20 at 3:26 pm

Hi Garth,

I noticed you didn’t mentioned real-return bond and emerging markets equity in your allocations. If someone has the ETFs in the B/D portfolio, does it make sense to keep or sell them? What’s your view on maintaining the positions going forward?

Thanks,
In Dubio

#122 Oracle of Ottawa on 09.14.20 at 4:25 pm

Good advice today Garth. My alternative option for etf’s are less bonds (as this is only a sedative against price shock) but is not a good return over time. And I’m no longer a big fan of preferds or reits. They are both risky and the yields vs mer’s are no better than XEI or FIE. Otherwise this rise in the markets is mostly due to the fact that you cannot get any kind or return elsewhere.

#123 Ronaldo on 09.14.20 at 7:05 pm

#116 yvr-lurker

Once you have your first million saved it is a much easier road; it’s getting to that stage starting from zero that is the challenge.
——————————————————————
I’m working on my 2nd million. First one didn’t work out so well.

#124 Ronaldo on 09.14.20 at 7:07 pm

#114 Vladimir on 09.14.20 at 12:59 pm
“Marie walked away with $535,000 from that deal” – so, what was her rate of return on that house? Was it worth owning rather then renting for all these years in the end?
——————————————————————–
For many, that was the only way they could be forced to save otherwise they probably would end up with nothing.

#125 Ronaldo on 09.14.20 at 7:11 pm

#106 Axehead on 09.14.20 at 12:03 pm
#99, 97.

The issue isn’t climate change; the climate has been changing since time eternal. The issue is rate of change and more importantly the root cause. To postulate that carbon emission is the root cause is more political than scientific. Empirical science cannot prove this hypothesis.
————————————————————–
I have a feeling the sun and it’s cycles have something to do with it. We are a mere speck compared to that big yellow thing which can accomodate every single planet in our solar system with room to spare. Big enough to fit 1.3 million earths. Think about that for a second.

#126 yvr_lurker on 09.14.20 at 7:27 pm

#116 yvr-lurker
#123
Once you have your first million saved it is a much easier road; it’s getting to that stage starting from zero that is the challenge.
——————————————————————
I’m working on my 2nd million. First one didn’t work out so well.
————-
Good job, same as me. Much harder for those who start off with a big zero than for those who are already half-way to the finish line based on inter-generational transfers, trust funds, inheritances etc…. like our dastardly T2 who (without the name brand of his father) would have remained a high school drama teacher. I have infinitely more respect for the likes of Chretein who drove his own bus….

#127 Ronaldo on 09.14.20 at 7:29 pm

#115 SoggyShorts

When I worked minimum wage 20 years ago (~$5) I bought a $1,000 used car after 3 years and had 3 room mates.
—————————————————————-
I believe the minimum wage back then was around 8.75 in Canada. What province were you working in then?

#128 Ronaldo on 09.14.20 at 7:32 pm

#109 Tbone on 09.14.20 at 12:29 pm
# 96. Ibul

Government provided housing probably won’t be very appealing to spend your retired twilight years .
Scary thought .
—————————————————————-
Actually BC Housing for example provides pretty decent housing and when my wife worked there several years ago they paid 25% of their wage. The grounds are very well maintained by BCHousing staff and they don’t put up with any b.s.

#129 Ronaldo on 09.14.20 at 10:08 pm

#126 yvr-lurker

I have infinitely more respect for the likes of Chretein who drove his own bus….
—————————————————————-
I really liked the “Little guy from Shawinigan”.

#130 Ronaldo on 09.14.20 at 10:18 pm

#98 Turner Nation

I saw the lineup stretching around the block this weekend. Healthy looking 20-somethings at the local CV testing centre. Might be required for their employment terms. Lines at drop-in clinics, with sick people? Not even.
—————————————————————–
I reckon that would explain why younger people are being tested positive and reason for the increase in cases in the lower age groups. The more you test the more cases you get and BC wants to try to increase this to 20000 per day. An increase from the current 8000. Then watch the cases rise.

#131 Doug in London on 09.14.20 at 10:51 pm

@Posts 106 and 125:
Let me guess, you also believe the earth is only 6000 years old, vaccines cause autism, fluoride in water does more harm than good, COVID 19 is a hoax, and there’s no evidence whatsoever to support the idea that smoking is harmful to health. Say, could I interest you in buying some Nortel shares for the dirt cheap bargain basement price of only $20,000 US apiece?

#132 Trawna on 09.15.20 at 12:43 pm

> Women are at greatest risk. You know why.

Indeed. Many women are often afraid of taking any sort of calculated risk, and their husbands die sooner. We can reverse the imbalance by achieving an equal age of death by funding men’s health programs and offering financial literacy to the entire population.