Fun money

Matt’s easy to hate. A wealthy, uppity Millennial. But he comes here daily, which is refreshing. If you can’t be poor, at least be humble.

“Love the blog, it’s fantastic,” he says, in an acceptable MSU. “The advice has kept me out of the housing market, invested, and as I turn 30 this year I feel comfortable with my life. It’s also led my fiancée into a change of thinking, believing now that renting and having money for fun is better than being tied to a house.

“My question is this: We’re getting married this year, so should we combine accounts, and go down to a joint chequing account, a joint savings account for some short term savings, and then 2 RRSP’s, 2 TFSA’s and 1 non-registered account? And should I go with her financial advisor, or keep doing my own thing with my RRSP’s and TFSA’s?

“I make about $200k before bonuses, she makes just over $100k. If she gets moved to full-time later this year, she’ll have a pension but we’ll assume she doesn’t for now. Rent is $2442 a month, utilities included (except internet). We have no debt, own our car out right, and don’t really have any financial requirements other than a 30ft sailboat here in Toronto. Between us, we’ve got about $180k in RRSPs, $130k in TFSA’s and another $100k or so in various savings accounts (some for wedding, some non-registered, some in flux between accounts). Everything is invested in either low cost eSeries mutual funds (me) or managed by a fee based financial advisor (about 1% per year, her). Can’t wait to hear back!”

Easy answers. Yes. Sounds like you already cohabit with marriage being a formality (and don’t spend too much on the nuptials. A weekend camping should be enough). Thus, you and she are an economic unit. The sooner you start acting like one, the better.

A joint chequing account makes sense since it makes a budget easier. Integrated registered investment accounts – RRSPs and TFSAs – help prevent overlap and duplication of assets and are essential if you want overall balance and diversification. To that end these should all be managed together, and best by an actual human who can also help with stuff like tax minimization, rather than bank funds run by people you’ll never meet. You & the squeeze should also open a joint non-registered account, especially if she scores a corporate pension which may mean throttling back on RRSP contributions. Once married the NR account also gives added financial protection, since all the funds go to the remaining spouse if something awful happens (getting run over by a Boomer etc).

Finally, to all the house-humpers who read this pathetic blog, let’s state the obvious: you two have high incomes, a huge savings rate, over four hundred grand saved, a boat, mobility, freedom, no debt and you’re just turning 30. If you succumb and buy a house in Toronto you’ll have high incomes, no savings, no investments, no flexibility and a $1 million mortgage. This is why they hate you, Matt. Well done.

Now, let’s contrast Matt’s joyous liberation with the morose and stormy mood of his FOMO-addled peers. Lately they’ve organized on Reddit to whine and moan about house prices. A r/crowdfunding campaign will be erecting billboards in Toronto and Ottawa soon saying, “Can’t Afford a Home? Have You Tried Finding Richer Parents?” and “Homes Aren’t For You. They’re For the Rich. You Can Rent.” Aren’t adolescents cute?

“We’ll be the generation that can never retire because of housing prices. The barrier to entry has never been higher,” the organizer told Bloomberg. Of course, Matt will have a couple of million in income-producing liquid investments by the time he’s fifty, while the Reddit crowd, if they buy property, will still have mortgages, roof repairs and scant savings.

It’s dawning on folks that real estate inflation is nothing but bad news. The wealth divide grows ever greater. Household debt is ridiculous. The gap between generations widens. Way too much capital flows into non-productive resale real estate. The whole economy becomes overly dependent on a single asset class whipsawed by feelings and flighty emotion. Plus, personal finances are gutted as people try to afford what they actually cannot.

The latest Nik Nanos survey confirms shifting sentiment. Seventy per cent say house prices are a serious problem, and half want the Bank of Canada to grow a set and raise its key rate. “Even though there is no consensus, the fact that one in two Canadians are good with a rate hike speaks to the appetite to cool down a hot housing market,” says the pollster.

As we all know, the central bank has clucked about real estate affordability, yet done nothing. The big federal budget last month also choked. Just a small tax (1%) on vacant houses owned by non-residents – which is meaningless. We continue to have no effective tax on flippers or speckers, 100% exemption on windfall gains for owners, tax-deductibility for investors, debt-inducing 5% down payments, programs to encourage more demand (RRSP plan, shared equity mortgage, newbie tax credits) and emergency interest rates. Combined with WFH and pandemic nesting, it’s all pushed real estate up by 30%. In some places over 60% – in just a year.

Matt gets it. Earn, save, enjoy, invest and let FOMO pass you by. There’ll be days ahead when real estate makes sense, when public policy and social interests align again. When leaders find the courage to lead and the squirmers on social media lift their gaze from their navels.

But not now. So let’s go sailing!

About the picture: “My wife and I have enjoyed your blog for some time now as much for the humour as for the financial advice,” says Gene, in Campbell River. “Here is Shadow. He is part Collie, part Aussie Shepard and great at all things ball and frisbee. Where he excels though is on the trail chasing kids on mountain bikes. He can go for miles. This is not his best side but does show his character.”

137 comments ↓

#1 Drill Baby Drill on 05.13.21 at 11:14 am

No word if Matt plans on having spawn. However he is on his way for sure. As someone who lived and worked thru the inflation years of the seventies and early eighties I am seeing some familiar signs. The CB’s have to raise rates soon and a lot more than just 1 or 2%. Look at the commodities market on lumber, copper, oil etc. Look at food prices. Let alone next years federal tax increases. There is a general household cash squeeze happening and it will bite our wallets.

#2 RandomMill on 05.13.21 at 11:18 am

Hey Garth – what advice do you have for these millennials who want to see political change? What should they be doing? Strictly speaking from a political perspective (we know the financial advise you recommend).

#3 safe money? on 05.13.21 at 11:24 am

#87 ElGatoNerodeYVR on 05.12.21 at 8:24 pm
__________________________________

El Gato, i forgot to mention REITS. same as base miners, but they obviously don’t own anything IN the ground, they just own everything ABOVE the ground.

same principle. as cash becomes worth less and less when central banks keep printing more and more, the value of these buildings appreciate.

those are just my thoughts about where to go with this. hopefully you get a few ideas and search around for yourself.

#4 Love_The_Cottage on 05.13.21 at 12:00 pm

So Doug Ford emerges from his hole in the ground and if he sees his shadow we get 2 more weeks of lockdown? Is that the scientific method he is using?

#5 Tudval on 05.13.21 at 12:19 pm

Right, anybody should do what they want with their money. Have fun while you can, but don’t forget, while you call others idiots for doing something else than you choose to do, don’t be bitter when 10-20 years from now they will be better off financially than you, even on a lower income (so ‘less deserving’ according to some twisted thinking you still see too much of in this free country).

#6 Andrewski on 05.13.21 at 12:25 pm

We’ll done Matt! Remember, once you’ve tied the knot, to designate each other as successor-holders of each other’s TFSA’s.

#7 Sail Away on 05.13.21 at 12:34 pm

Good work, Matt! It’s refreshing to see a millennial couple doing well and owning it instead of screaming about oppression and ‘being run over by the change’. Keep it up.

#8 Spydoor on 05.13.21 at 12:39 pm

I wonder what Matt’s peers (who aren’t earning $300,000 per year in household income) should do now that rent prices have skyrocketed? There have been countless articles lately pointing out the devastating effect this country wide housing spike is having on rental markets. Niagara, London, most of Nova Scotia, to name a few, are all seeing rental prices surge and availability plummet. So its a bit disingenuous to cherry pick a top earning household and suggest that the people involved in r/canadahousing are just whiners.

#9 Sail Away on 05.13.21 at 12:40 pm

Also, Matt: let us know when you have children so I can offer some advice on raising them. Thanks.

#10 DonCarlos on 05.13.21 at 12:59 pm

Keep going Matt! My wife and I used a similar strategy, though instead of renting we bought a house that, while being everything we need, is well below our means. Understood that this is harder to do now. In the current environment I would have no problem renting if our mortgage wasn’t under $1k a month. We do not use our house as a retirement plan or investment vehicle. My wife has a government pension and between us we have nearly $1M in investable assets in our mid 40s.

I have to admit it has been tempting to buy a larger house or country property, and I enjoy looking at listings. But we will take that step when we are ready and when the financials make sense, not when society tells us we have to.

#11 Prince Polo on 05.13.21 at 1:08 pm

Kudos Matt & Mrs. Matt!! A fellow “loser” renter here, from the leading tip of the Millennial cohort spear. The more that debt-zombies wanna blow their fiscal-brains out on gargantuan debt, the more I laugh maniacally. Somebody’s got to fund my FIRE roadmap (Freedom<=45)…may as well be the big 5 banks with their juicy divvies. Good luck and stay on the path!

#12 Ponzius Pilatus on 05.13.21 at 1:09 pm

Matt.
Only 2 words:
Pre Nup

#13 Ponzius Pilatus on 05.13.21 at 1:24 pm

#9 Sail Away on 05.13.21 at 12:40 pm
Also, Matt: let us know when you have children so I can offer some advice on raising them. Thanks.
——————————
Matt
Be careful
It’s the sailboat he’s after.
His got confiscated when he tried to get around covid quarantine on his his return from Hawaii.
On top of it, he did not declare his priceless Hawaiian whale painting.

#14 Ponzius Pilatus on 05.13.21 at 1:43 pm

Here in BC,
All four of my family have got their shots now.
Even the 18 year old step daughter.
Great time to be alive and see people working together.

#15 Squire on 05.13.21 at 1:53 pm

#4 Love_The_Cottage on 05.13.21 at 12:00 pm
So Doug Ford emerges from his hole in the ground and if he sees his shadow we get 2 more weeks of lockdown? Is that the scientific method he is using?
———————————————-

Sock boy Jr was hiding out at the cottage way longer than two weeks and spent way more than $4.4 billion
just saying, there’s a short term memory problem in Canada

#16 CJohnC on 05.13.21 at 1:58 pm

“There’ll be days ahead when real estate makes sense, when public policy and social interests align again. When leaders find the courage to lead and the squirmers on social media lift their gaze from their navels.”

Will that be in our boomer lifetime?

#17 Concerned Citizen on 05.13.21 at 2:01 pm

Well done Matt and fiance. It’s easier to deal with FOMO/crazy from a position of strength.

Unfortunately most Canadians aren’t doing that well. It’s been a while since I looked, but I’m pretty sure the median household income is still well below $100K in most Canadian cities, and many of those households have kids (expensive!). It’s these people that are going to suffer bigly from higher real estate prices, especially if they don’t already have an ownership stake.

#18 turnipnation on 05.13.21 at 2:04 pm

#9 Sail Away on 05.13.21 at 12:40 pm
Also, Matt: let us know when you have children so I can offer some advice on raising them. Thanks.

——————————————————–

Frightening thought.

#19 S.Bby on 05.13.21 at 2:09 pm

https://www.ctvnews.ca/world/wework-ceo-in-hotseat-for-suggesting-the-least-engaged-employees-love-remote-work-1.5426444

“Those who are uberly engaged with the company want to go to the office two-thirds of the time, at least,” he said. “Those who are least engaged are very comfortable working from home.”

Mattl?

#20 S.Bby on 05.13.21 at 2:15 pm

Greyhound Canada is permanently discontinuing all inter-city bus routes in Canada.

https://www.ctvnews.ca/business/greyhound-canada-to-cut-all-routes-end-operations-1.5426464

#21 VladTor on 05.13.21 at 2:16 pm

Garth, yesterday …Inflation, but not hyper.

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

Will be soon!

The US Department of Labor reported that producer price inflation (selling prices) in April was 6.2% compared to the same month a year ago, which is a record for the entire observation period (i.e., at least since 2010) and 0.6% more compare March

https://www.bls.gov/news.release/ppi.nr0.htm

Product categories with the fastest rise in prices: -energy: 47.7
final consumer goods: 10.7%
food for export: 25.2%
goods for export minus food and energy: 10%

Try to resist using terms you don’t understand. – Garth

#22 TurnerNation on 05.13.21 at 2:18 pm

–Gas shortages. Yep watch your Travel/Movement rights. Our elite rulers roaring with laughter as we fight it out at the pumps. This WW3 like any war has rationing, shortages.

— Hope you were not planning on travel. Stay in your crowded UN Smart City, within your local Health Prefecture.

.Greyhound Canada to cut all bus routes, end operations (globalnews.ca)

—–

Yes our travel/movement rights are under global control 450 days of this…how much will Kanadians take in this open air tax slave camp?

. Halifax man fined for travelling to Cape Breton to hike during lockdown | CBC News (cbc.ca)

.COVID-19: Doug Ford extends Ontario’s stay-at-home order until June 2 (globalnews.ca)

#23 S.Bby on 05.13.21 at 2:19 pm

https://www.ctvnews.ca/business/mcdonald-s-raising-u-s-workers-pay-in-company-owned-stores-1.5426373

Amazon, Costco and other big companies have all announced pay raises in recent weeks.

10% plus wage increases. Inflation, here we come.

#24 Classical Liberal Millennial on 05.13.21 at 2:29 pm

Just your regular dude in his late 20s making $200k with a partner also making 6 figures and sailing on weekends.

I mean, good on him. No doubt he’s skilled and earns it and I admire not jumping into this insane market. But this is far from an ordinary example.

Where does it say say this blog is for ordinary people? – Garth

#25 ElGatoNerodeYVR on 05.13.21 at 2:35 pm

Sounds like a good portion of the ” Participation Award” crowd wishing for life to be like in the 50’s ( ora tleast a shown on TV ):
-white picket fence house in the suburbs
– stay at home wife raising a few children
– apartment in the city with a mistress
Of course all of the above on a regular Joe income.
Of course the reality is a bit different than a TV show ,and while I wasn’t even in the planning during that era I am quite sure it didn’t quite work out like that.
There us nothing inherently wrong about owning RE ; problem is that everyone thinks Detached House in the city for 1st time buyers which is ridiculous.
Some basic math here,a 400K mortgage will set you back 1,800 monthly so with all else carrying costs will be 3K ( very high level here) .
Income needed to support that is 48K Gross ( before taxes) so about 23/hr. Which is not out of reach for a qualified experienced youngster.
You can buy a lot of studio or a 1bdr. for 450K which for a couple(DINK) is plenty. So one salary could go to Housing, the other one to all else.
I am not saying one should definitely do that, but if you really really do want to own RE you have to have realistic expectations…we’ve already established a couple weeks back that in the major cities we have a very high density of people so a condo is the only way into the market .
You want the big house with lawn , you must make 150K -200k for a SFH in the suburbs . No amount of billboards or protests will change that.
Or you could just do what this blog recommends, rent ,save,invest .
Personal choice is a real thing.

#26 Bezengy on 05.13.21 at 2:45 pm

Lately they’ve organized on Reddit to whine and moan about house prices.

——————-

The squeaky wheel gets the grease, especially at election time.

#27 WTF on 05.13.21 at 2:45 pm

The rental in DT Van we have been in for 9 yrs sold in 2 weeks for close to 900k.

Based on average Van family income, price is stupid expensive.

Based on the rental market (it would likely fetch $2600- $2800 tops). Not even close to covering the mortgage even assuming a yuuuge 25% DP.

10 apartments I have viewed, now know the market, expecting to find a larger place with more amenities for similar rent.

Meanwhile the B+D grows 6% annually.

No Idea what drives this RE lunacy but I’m sitting on the sideline watching with bemusement.

#28 VGRO and chill on 05.13.21 at 2:47 pm

Good for Matt and his fiance. They are doing very well for themselves.

However, the opinions reflected in /r/canadahousing paint a more realistic portrait of the sentiments of Gen Y & Z.

These people do not want to buy because of envy. They want to buy out of desperation. When your rent keeps getting jacked up, but houses appreciate 30% in one year, which housing situation do you think would have been better? These people just want a secure living and a reasonable cost of living in Toronto, which was achievable not long ago. Now it isn’t. Largely because of political action and inaction.

But if the advice is to simply pay exorbitant amounts on rent, that is not going to help them. The disconnect presented on this blog is exactly the reason for that subreddit existing in the first place. And it is the exact reason millennials and Gen Z have assaulted every form of discrimination except ageism. Because they bear the brunt of it.

I’m not saying I support any of that, but I do empathize with it. Not everyone can have a household income of $300k/year at age 30, so that they have zero money problems.

And not everyone can, or should, own real estate. It’s not a right. – Garth

#29 Linda on 05.13.21 at 3:03 pm

Good advice on not spending a fortune on a wedding. One can have a very nice, not expensive wedding with a little ingenuity & willingness to think out of the box.

One other thing Matt & squeeze need to do is invest in making wills, complete with POA etc. Yes, they are young but the Grim Reaper epitomizes ‘equal opportunity’.

#30 Bob Vanc. on 05.13.21 at 3:08 pm

What would Matt’s net worth have looked like if he had bought a house three-five years ago? Probably more, and tax free.

No savings. No freedom. No boat. And how could that have been possible at 25, with no down payment? These idiotic, house-flogging comments are useless and cause the IQ of all who read them to shrink. – Garth

#31 Aftred on 05.13.21 at 3:14 pm

Still nothing about gas, good thing you told everyone to gas up their cars?

To drive back to the office. How could you miss that? – Garth

#32 Jason on 05.13.21 at 3:16 pm

@Bob Vanc and if you had put 5k in Amazon in the late 90’s you’d be a gagillionnaire. Hindsight is for suckers and for people who like to sound like they know everything.

#33 earthboundmisfit on 05.13.21 at 3:19 pm

Elon no longer accepting Bitcoin for a Tesla The list of things you can buy with Bitcoin shortens to guns, drugs, and porn.

#34 Doug Ford on 05.13.21 at 3:24 pm

DELETED

#35 Ballingsford on 05.13.21 at 3:28 pm

Matt doesn’t say if he has a dog.

#36 Faron on 05.13.21 at 3:34 pm

#33 earthboundmisfit on 05.13.21 at 3:19 pm

You can also pay ransoms with it. It’s a good look.

#37 S.Bby on 05.13.21 at 3:38 pm

https://www.wsj.com/articles/amazon-hiring-75-000-workers-offering-1-000-signing-bonus-in-some-locations-11620915982

There are more jobs available now than there are willing workers. People would rather stay at home and collect stimulus payments.

#38 S.Bby on 05.13.21 at 3:42 pm

#30 Bob Vanc

Typical Vancouver gloating smugness. Probably a realtor.

#39 wallflower on 05.13.21 at 4:06 pm

heads up
that “getting run over by a boomer” thing…
most likely to happen via ebike on a rail trail or pedestrian path (possibly even a cycle path)

it’s a thing
(I am a boomer 1960)

#40 Grandv!ew on 05.13.21 at 4:24 pm

It is so hard these days to even talk about real estate in Canada. There is a prevailing feeling of something or some kind of event is about to happen. Problem is that any type of the major “event” will be catastrophic for the one side of the real estate bet or the other. Both sides are currently in the process of becoming delusional with the expectations of what this so called ‘event’ will bring forward while government is walking the tight rope and massaging the data and news in MSM suggesting that red hot market is cooling off. I guess government finally realized too much of the good thing (values going up) is actually not a good thing.

Trains are passing, dogs are barking, life goes on….

After 27 years of living and working in Vancouver while experiencing both sides of the real estate coin, I can suggest that opportunity to have meaningful work and life in Vancouver and Canada is diminishing. We are all collectively watching this happening (car crash in slow motion) while debating what to do, but for many young people lives are passing by and many are frozen to do anything since the upbringing told them they are living in BPOE.

Stephen Punwasi stated correctly prevalent thinking of majority of parents and adults over 40:

“The world is scary outside of Canada and it will eat young adults alive, now shut up and inflate my home equity”.

So kids stay in the country and engage in gladiator fights over inflated housing, or just despair and wilt slowly.

https://twitter.com/StephenPunwasi/status/1392849493842960392

Tragically because of this kind of thinking and advice given to the kids Canada currently doesn’t have any other economic pulse apart of the real estate. The success in life is measured in the size of the golden cage and thickness of granite counters. I am just not sure if anyone is realizing that Canadians are becoming docile and dormant. We might somehow limp to the finish line of having 100 million citizens. Alas that number means nothing if the life goal for the entire populace is buying the house and having he chicken coupe in the back yard.

Trains are passing, dogs are barking, life goes on….

#41 VladTor on 05.13.21 at 4:51 pm

Try to resist using terms you don’t understand. – Garth

*****
Thank you Garth.
My education not in finance and I can do mistake. I appreciate (always!) if somebody explain me directly what is my mistake. Short explanation (for dummies like me) would be enough for self education and than google to receive more detailed info.

Google ‘hyperinflation.’ – Garth

#42 Ponzius Pilatus on 05.13.21 at 5:08 pm

#20 S.Bby on 05.13.21 at 2:15 pm
Greyhound Canada is permanently discontinuing all inter-city bus routes in Canada.

https://www.ctvnews.ca/business/greyhound-canada-to-cut-all-routes-end-operations-1.5426464
————
Very bad news.
Instead of building more mass transit options, we’re culli g the few we have.
It’s a bloody disgrace.
Makes me wanna move back to the old Country, where you don’t need a stinking car.

#43 bdwy on 05.13.21 at 5:09 pm

Scotiabank …
The current situation in Canadian housing markets primarily reflects a chronic insufficiency of home supply that is temporarily exacerbated by pandemic-related impacts linked to record-low mortgage rates and a shift in preferences for housing by type and geography. Past and future macroprudential measures are ineffective band-aids that do not address the underlying insufficiency of supply.
Canada has the lowest number of housing units per 1,000 residents of any G7 country. The number of housing units per 1,000 Canadians has been falling since 2016 owing to the sharp rise in population growth. An extra 100 thousand dwellings would have been required to keep the ratio of housing units to population stable since 2016—leaving us still well below the G7 average.

#44 Ustabe on 05.13.21 at 5:12 pm

#2 RandomMill on 05.13.21 at 11:18 am

Hey Garth – what advice do you have for these millennials who want to see political change? What should they be doing? Strictly speaking from a political perspective (we know the financial advise you recommend)

Bring solutions, not problems, to the table…wherever that table might be.

You have to begin local and push candidates up that hear you.

Tell them, long and loud, you want fiscal conservatism not social conservatism…you know Canadian conservatism.

It will take decades. Hard work. Lots of back room stuff, lots of fundraising, lots of negotiating.

Or, just get bitter and angry, go onto social media and bitch and moan, blame others and foment irresponsibility.

I’ve been there, provincially and nationally, seen how the sausage is made. The Conservative Party of Canada’s sausage is currently made up of well past the best buy date scraps. Until we/you manage to change that get used to Liberal rule. Because this is Canada, not some backward US state.

#45 Catalyst on 05.13.21 at 5:19 pm

Where do you make over 200k a yr before 30? Google engineer?

As someone who made closer to 60k for the majority of my career (33 y/o) it’s sad I have a higher NW due to purchasing a property in 2015. Canada is truly a wonderful place when the janitors are more prosperous than the executives.

#46 S.Bby on 05.13.21 at 5:38 pm

According to Bdwy Skytrn raising a child in a rental is tantamount to child abuse. So in his world Mattl should buy a house before his kid is born.

#47 Andrewski on 05.13.21 at 5:39 pm

Hyperinflation is…

https://www.investopedia.com/are-we-in-for-a-hyperinflation-5093627

#48 Brian on 05.13.21 at 5:40 pm

Garth, can you advise what said 30 year old aka Matt actually does for a living?

#49 Wrk.dover on 05.13.21 at 5:40 pm

#110 Wrk.dover on 05.13.21 at 10:54 am

What a great country! Shoot your mouth off with blanket anti govt. statements, and nobody rounds you up before sunset! That was over the top though, even for me. Where’s the delete button?

#50 Looking Up on 05.13.21 at 5:45 pm

With crazy high real estate prices and salaries not competitive what the US pays, it will be interesting to see if Canada will continue to attract talent from around the world.

If you’re a talented engineer or doctor and you would make less and pay much more for housing, why would you come to Canada?

#51 Brett in Calgary on 05.13.21 at 5:45 pm

Hahaha – that was funny.
——————————–
#4 Love_The_Cottage on 05.13.21 at 12:00 pm
So Doug Ford emerges from his hole in the ground and if he sees his shadow we get 2 more weeks of lockdown? Is that the scientific method he is using?

#52 Brett in Calgary on 05.13.21 at 5:47 pm

Ditto Prince Polo. Not quite free at 41, but getting there. May even buy a unloved house in a year or so.
——————————-
#11 Prince Polo on 05.13.21 at 1:08 pm
Kudos Matt & Mrs. Matt!! A fellow “loser” renter here, from the leading tip of the Millennial cohort spear. The more that debt-zombies wanna blow their fiscal-brains out on gargantuan debt, the more I laugh maniacally. Somebody’s got to fund my FIRE roadmap (Freedom<=45)…may as well be the big 5 banks with their juicy divvies. Good luck and stay on the path!

#53 Looking Up on 05.13.21 at 5:57 pm

#9 Sail Away on 05.13.21 at 12:40 pm
Also, Matt: let us know when you have children so I can offer some advice on raising them. Thanks.

————-

It is imperative to install in your children to never, ever, ever pay an exorbitant amount for Hawaiian Tourist Whale Art.

#54 Redditor on 05.13.21 at 6:13 pm

Hi Garth – not sure why you are hating on our little canadahousing subreddit. I think alot of us users come here to read your sage advice. We appreciate you! Sure, we may reek of desperation and be a little annoying, but we gotta at least try something.

#55 GrumpyPanda on 05.13.21 at 6:21 pm

The goat stolen from Riverdale Farm has still not showed up despite a $1000 reward. My guess is they are now looking for a carcass. And someone enjoyed goat for dinner.

#56 Nonplused on 05.13.21 at 6:26 pm

#45 Catalyst on 05.13.21 at 5:19 pm

“Where do you make over 200k a yr before 30? Google engineer?”

He could be a doctor, lawyer, dentist, anesthesiologist, real estate agent, Tesla salesman, who knows? Heck I think the guy who picks up my garbage makes over 100 a year. $135 every 3 months and it takes him about 5 minutes a week. So he has to go to the dump of course and eat lunch so lets say he picks up trash for 6 hours a day taking 5 minutes per house, that means gross revenues of $194,400/year. Minus the truck and dumping fees I bet he pockets $140,000. He gets grumpy if the bags weigh more than 60 pounds though. He’s got to toss them up a fair distance.

#57 IHCTD9 on 05.13.21 at 6:29 pm

#26 Bezengy on 05.13.21 at 2:45 pm

Lately they’ve organized on Reddit to whine and moan about house prices.

——————-

The squeaky wheel gets the grease, especially at election time.
———-

If Trudeau greases the RE market any more than it already is, GenZ will need to save for 20 years just to get a down payment together.

#58 Sail Away on 05.13.21 at 6:43 pm

#42 Ponzius Pilatus on 05.13.21 at 5:08 pm

Very bad news.
Instead of building more mass transit options, we’re culli g the few we have.
It’s a bloody disgrace.

Makes me wanna move back to the old Country, where you don’t need a stinking car.

———-

Or move to Nanaimo, which is much easier and closer than the old country. 18 minutes by float plane / 15 min by helijet from downtown Vancouver, to be exact.

My wife and I usually amble or bike to work and mostly just use cars for recreation or when lazy. The Teslas often blink away unused and at full charge for days on end. Sort of like maintenance-free thoroughbred racehorses.

#59 Habitt on 05.13.21 at 6:45 pm

24 clm re: Garth’s response. Well Garth I’m perhaps not ordinary but most definitely average regarding my income over my working life. Had my knuckles wrapped a few times here. All good. I recall a post of yours not long ago guiding people in low income positions that they can make it too. If the system is to work people at the bottom need hope and guidance. Thanks for being there for all. Order of Canada anyone?

#60 Ponzius Pilatus on 05.13.21 at 6:49 pm

#57 IHCTD9 on 05.13.21 at 6:29 pm
#26 Bezengy on 05.13.21 at 2:45 pm

Lately they’ve organized on Reddit to whine and moan about house prices.

——————-

The squeaky wheel gets the grease, especially at election time.
———-

If Trudeau greases the RE market any more than it already is, GenZ will need to save for 20 years just to get a down payment together.
—————-
No need to save for a down payment.
Canadian parents are genetically designed to always cough up the down payment for their precious offsprings.
That’s what driving the crazy market.

#61 bdwy on 05.13.21 at 6:52 pm

#46 S.Bby on 05.13.21 at 5:38 pm
According to Bdwy Skytrn raising a child in a rental is tantamount to child abuse. So in his world Mattl should buy a house before his kid is born.
——————–
???

you thinking of someone else? plenty of plusses to ownership, but i sure don’t recall ever thinking or mentioning kids were one. (other than having to move away from friends)

#62 crowdedelevatorfartz on 05.13.21 at 6:55 pm

@#39 wallflower
“heads up
that “getting run over by a boomer” thing…
most likely to happen via ebike on a rail trail or pedestrian path (possibly even a cycle path)”

++++

ebike on a cycle path?

We should be so lucky.
I see them on roads blocking traffic.
I see them on sidewalks narrowly avoiding pedestrians.
I see them in parks, crosswalks, malls, lawns……
Basically anywhere their “Green” agenda says they have the God given right to go.
Bike paths?
Not so much.

#63 Cheese on 05.13.21 at 6:55 pm

It seems so many people make tenfold what I do in a year, and are younger.

I have wasted my life,
I yearn for death.

#64 Don Guillermo on 05.13.21 at 7:03 pm

#42 Ponzius Pilatus on 05.13.21 at 5:08 pm
#20 S.Bby on 05.13.21 at 2:15 pm
Greyhound Canada is permanently discontinuing all inter-city bus routes in Canada.

https://www.ctvnews.ca/business/greyhound-canada-to-cut-all-routes-end-operations-1.5426464
————
Very bad news.
Instead of building more mass transit options, we’re culli g the few we have.
It’s a bloody disgrace.
Makes me wanna move back to the old Country, where you don’t need a stinking car
***************************************
I hear ya. That’s something we love about where we live in Mazatlán. We don’t, need or want a car. It’s a 200 + year old European feeling city with great weather. Walk to fresh markets, restaurants, theatres, beaches, live music etc. If we need to go to a box store (maybe once every month or so) we can bus, Uber, cab or pulmonia. Peel off weight quickly and feel great. Sometimes when I go alone I’ll walk with my backpack (8 km along the Malecon ) and cab back. Note: this is not necessarily everyone experience. It all about where you choose to live.

Malecon photo:
https://www.elsoldemazatlan.com.mx/local/grlyof-ciclovia-mzt/alternates/FREE_720/ciclovia%20mzt

#65 BillyBob on 05.13.21 at 7:21 pm

#42 Ponzius Pilatus on 05.13.21 at 5:08 pm
#20 S.Bby on 05.13.21 at 2:15 pm
Greyhound Canada is permanently discontinuing all inter-city bus routes in Canada.

https://www.ctvnews.ca/business/greyhound-canada-to-cut-all-routes-end-operations-1.5426464
————
Very bad news.
Instead of building more mass transit options, we’re culli g the few we have.
It’s a bloody disgrace.
Makes me wanna move back to the old Country, where you don’t need a stinking car.

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

That’s the spirit! Living in Asia, UK, EU, I haven’t needed a car at all. Not once. 3650 CZK for a year’s unlimited transit pass, app on my phone in Prague. Metro, bus, tram. 10 CZK (58¢ CAD)/day.

The money saved on such nonsense as cars is reserved for more important things, like guns and motorcycles.

https://ibb.co/nCHrQdt
https://ibb.co/sP33pHj

Took “The Prince of Darkness” to Český Krumlov couple weeks back. Now THAT is a pretty place.

https://www.ckrumlov.info/en/welcome/

Hard to compare to say, a Surrey or Mississauga suburb with those gorgeous million+ dollar homes in cul de sacs, but we get by.

“I want to look intently at grasses and pink people, old venerable churches, to know what little cathedrals say, to run without stopping along curving meadowy slopes across vast plains, kiss the earth and smell soft warm marshland flowers. And then I shall shape things so beautifully: fields of colour…”

Egon Schiele in Vienna longing for Český Krumlov.

#66 Jens on 05.13.21 at 7:25 pm

Hey Garth, I posted a similar comment before, but I’d like to know your rationale for a joint non-registered account. Why not have two separate accounts with mutual survivorship?
If you jointly contribute to a single account and start buying and selling shares, ETFs etc. in it, attribution of capital gains and dividends to each spouse for tax purposes becomes a bookkeeping nightmare. With separate accounts, each spouse gets their own T5 and T5008, and if they don’t have duplicate assets in other accounts and stay away from triggering superficial losses, those statements are accurate.

There is no mutual survivorship on non-registered accounts – no beneficiaries. All assets in a non-joint account are deemed to be sold upon death, not transferred and are fully taxed with no access by a surviving spouse until the estate is settled. That alone, apart from the tax savings, is reason enough for all couples to do this. – Garth

#67 Nonplused on 05.13.21 at 7:38 pm

#12 Ponzius Pilatus on 05.13.21 at 1:09 pm
Matt.
Only 2 words:
Pre Nup

————————–

Only 2 words:
Too Late

If they have been living together for 6 months without a cohabitation agreement it is too late.

I am a big fan of cohabitation/prenuptial agreements in the case of a second marriage involving kids and large discrepancies in wealth or in the case where there is a large difference in family wealth (i.e. your parents are loaded), but for many young people they aren’t necessary.

When I got married the first time, I had nothing, and my wife had nothing. Over the course of the marriage we did pay off the student loans and buy a house and accumulate some money, but when she wanted a divorce there wasn’t enough to argue about so I used what savings we had to pay off the remaining debt and I just gave her the house so long as her dad would cosign the mortgage so I wasn’t on it anymore. The biggest financial impact to me was child support payments, and you cannot prenup your way out of that. I’d put her through school so there was little in the way of spousal support.

By the time I got to my second marriage, there were substantial assets, so prenup it was. My main consideration being that in the event of death/divorce I did not want my children disenfranchised. So we keep separate RRSP’s and TFSA’s mostly so that sort of stuff can follow the bloodlines. The house however is now joint, she’s been living in it, paying expenses, and doing the gardening for a long time. It will be and is a huge bonus for her because I paid for it but still, it is her home. Still, it is a big $ bonus to her that she probably couldn’t have got on her own.

Anyway she works and earns a decent salary. Matt’s beau apparently does too. If your wife works, it really takes the edge off divorce. I mean, it is hard to find a situation where both spouses make exactly the same money. But knowing that she is doing what she can rather than hanging out at the gym and going for lunch with the other moms goes a long way to making one have no cause for resentment.

So long and short of it, if you are both starting out with nothing and both working, no need for a prenup. Act like it might last forever. Once divorce and children are involved, it gets more complicated. But it doesn’t sound like Matt has to worry about that yet.

Even in the case where your wife quits working for a while to raise the children, realize that has a monetary value in avoided daycare costs and better raised kids (hopefully). You have to pay for that.

So here is the rule on prenups: They aren’t worth the money if there are no previous assets worth protecting and no children.

Divorce and remarriage keeps so many lawyers in Porches it makes my head spin. I think the Catholic church may have been right all along.

#68 Nonplused on 05.13.21 at 7:47 pm

#17 Concerned Citizen on 05.13.21 at 2:01 pm
Well done Matt and fiance. It’s easier to deal with FOMO/crazy from a position of strength.

Unfortunately most Canadians aren’t doing that well. It’s been a while since I looked, but I’m pretty sure the median household income is still well below $100K in most Canadian cities, and many of those households have kids (expensive!). It’s these people that are going to suffer bigly from higher real estate prices, especially if they don’t already have an ownership stake.

————————————–

Kids cost about as much money as you have to spend on them. They don’t all need motorbikes and electric scooters. As Garth has pointed out numerous times, they don’t even care if you rent or own. They are like dogs. Kibbles and walks are all they need. Well and education, but our education system does not discriminate against renters.

#69 Yuus bin Haad on 05.13.21 at 7:48 pm

Nope, His & Hers TFSAs – each with [insert possessive pronoun here] own playpen

#70 crowdedelevatorfartz on 05.13.21 at 7:49 pm

@#65 BillyBob
The “Prince of Darkness” looks like a ton of fun.
Especially on those EU twisty roads.

#71 Nonplused on 05.13.21 at 7:51 pm

“Where does it say say this blog is for ordinary people? – Garth”

“Whenever possible, hang around the lucky.” – Jewish saying.

“You are the average of your 5 best friends.” – some guy

“If you are wondering why you can’t succeed, you should look at who you take your advise from.” – NP

#72 ogdoad on 05.13.21 at 7:52 pm

Dood. If I can get past the fact that you want to be liked too much, with this line of thinking, you and your squeeze will be sipping dew from eden’s apple by 50. Spread the word!

Garth! Small steps?

Og

#73 crowdedelevatorfartz on 05.13.21 at 7:53 pm

@#63 Cheese
“I have wasted my life…”

+++

You took the blue pill?

https://www.youtube.com/watch?v=zE7PKRjrid4

#74 Nonplused on 05.13.21 at 7:57 pm

“And not everyone can, or should, own real estate. It’s not a right. – Garth”

Well, it is sort of a right, that it is yours, once you pay for it. There is no right that you get free real estate upon birth though. You have to acquire it though the usual method of coming up with the money to buy it from the previous owners who had the right to it because they paid for it.

#75 Ponzius Pilatus on 05.13.21 at 7:59 pm

#64 Don G.
Good for you.
But what if you wanna travel through Mexico, seeing the sights?
How’s the public train and bus service?
In Europe, comfortable and fast trains pretty much get you everywhere.

#76 When Will They Raise Rates? on 05.13.21 at 8:04 pm

Taxing capital gains on principle residences will have the opposite effect… People will not sell if they can’t buy something comparble with the proceeds from selling their home. So less people will sell, thus supply will be constrained and impart upward pressure on prices.

#77 Nonplused on 05.13.21 at 8:10 pm

#29 Linda on 05.13.21 at 3:03 pm
Good advice on not spending a fortune on a wedding. One can have a very nice, not expensive wedding with a little ingenuity & willingness to think out of the box.

One other thing Matt & squeeze need to do is invest in making wills, complete with POA etc. Yes, they are young but the Grim Reaper epitomizes ‘equal opportunity’.

———————————–

My wife and I dropped $10,000 on our wedding at the Safari Lodge at the Calgary Zoo. No cake, no photogher, bar opened as soon as the service ended. Giraffes in the background. Live Giraffes. Guests could go see the gorillas. 110 guests. Food was excellent as was coordination and presentation. Flowers everywhere.

We have always been big supporters of the zoo, they do try and save animals. So it just seemed to make sense and was, ok, as expensive as a used car, but I don’t think it could have been done better for 3 times the money.

If you live in Calgary and can get a booking at the Calgary zoo for either July or August, photo opportunities abound and you can let your little sister who has a SRL take the pictures. And it is cheap. And any profits go to saving the animals.

Folks, it is possible to spend smart.

#78 crowdedelevatorfartz on 05.13.21 at 8:25 pm

@#77 Nonplused
“If you live in Calgary and can get a booking at the Calgary zoo”

++++
A great idea.
I lived in Cowtown in 1980-81
The zoo was a favorite destination and/or the Foothills around Canmore , Pidgeon Mtn, Bragg Creek, etc.
Beautiful country.
The zoo was amazing.
I had to go back to Calgary about 15 years ago for at training session.
The session lasted 30 minutes and the computer system crashed.
“Sorry folks, cant fix it today. You might as well go back to the airport and wait for your flight out”

Pffft. 7 hours stuck in the Cowtown airport?
I convinced about a third of the co workers to grab some cabs and “go to the zoo”.
It was fantastic. Way better than the early 80’s.
The gorillas were out playing in the sun, the inside exhibits were very impressive.
We spent 4 hours there.
Everyone had a great time.
Calgary has a better zoo than the Lower Mainland with a third of the population to support it.

#79 Mattl on 05.13.21 at 8:32 pm

#19 S.Bby on 05.13.21 at 2:09 pm
https://www.ctvnews.ca/world/wework-ceo-in-hotseat-for-suggesting-the-least-engaged-employees-love-remote-work-1.5426444

“Those who are uberly engaged with the company want to go to the office two-thirds of the time, at least,” he said. “Those who are least engaged are very comfortable working from home.”

Mattl?

—————————————————————

FWIW, I tend to agree with him. If there is an office you can get to, it’s a no brainer to go in at least 3 days a week. I am pretty far from our US office – 10 hours travel, and 4-6 to get to butt down in TO. And I still get 40+ office days a year.

When you WFH permanently, getting office time is a luxury. The best model is hybrid IMO – the hoteling / hot desk model. That setup is the modern approach to WFH.

#80 Don on 05.13.21 at 8:43 pm

My God!! All the advice to Matt. He might drown in it.
“You hypocrites, remove the plank from your own eye, so you can see better to remove the speck from your brother’s eye.”

#81 Nonplused on 05.13.21 at 8:49 pm

#78 crowdedelevatorfartz on 05.13.21 at 8:25 pm

“Calgary has a better zoo than the Lower Mainland with a third of the population to support it.”

Well, we also used to have a lot of oil money to support it. And a young population with lots of kids that thought gorillas, French fries and ice cream were the way to spend the day.

My kids names are on 2 of the donor boards. Ya, at the time I was rolling it in, so I dropped some off. They were trying to save the burrowing owl after all. How could you not get behind that???? They are so cute.

There is a large Rotary Club playground, or at least I think it is Rotary Club, right near the gorillas and the Safari lodge, with a strategically located ice cream shop right there. You can let your kids into the playground and not see them for 2 hours, while you enjoy the sun.

Some people think zoos are cruel. And indeed they probably were. But nowadays they pretty much all use the genetic stock they have for reintroduction strategies. Noah’s ark 2021.

#82 Toronto St. on 05.13.21 at 8:51 pm

I wonder if Matt has thought about this: what if he purchased a property, or a couple properties, 5 years ago? He could have a home now, saving $2442 a month,plus either a rental income of 2442 per month, or sold the 2nd one for a huge tax-free gain that he could purchase a 60 feet boat…

The RE market is crazy, but those who chose to win the bidding wars several years ago are winners now. Those who are winning now could be winners in 5 years down the road, and the others are greaterfools.

No one can predict the stock market price, house market either.

How, at 24 with no down payment, would he do that? More foolish words. The kid is doing great. Bug off. – Garth

#83 MinInMission on 05.13.21 at 9:22 pm

Huh. Decades ago my wife and I had one heck of a lot less than that. We just quit and went sailing.

#84 Brian on 05.13.21 at 9:27 pm

Oh no Matt. I think you need to ask yourself one question. Why would you enter a contract in which the other party will end up being rewarded for breaking?
You need to know all of the terms of what you are getting yourself into, because there is a better chance than not that it will end up blowing up in your face with such an income disparity. Invest $400 into an hour with a family law attorney before moving forward.

#85 Alan on 05.13.21 at 9:27 pm

I would tell any young person in Canada to get out while they can. Thousands of Boomers are retiring every day and they’re going to take down everything productive left in this country to pay for their CPP and OAS and medical care and everything else they’re going to try and vote for themselves over the next decade (pharmacare anyone).

Go somewhere where the demographics are much better and you won’t be expected to carry 1 full retired person and 1 full government worker on your back for the rest of your life.

#86 Sara on 05.13.21 at 9:30 pm

#66 Jens on 05.13.21 at 7:25 pm
Hey Garth, I posted a similar comment before, but I’d like to know your rationale for a joint non-registered account. Why not have two separate accounts with mutual survivorship?
If you jointly contribute to a single account and start buying and selling shares, ETFs etc. in it, attribution of capital gains and dividends to each spouse for tax purposes becomes a bookkeeping nightmare. With separate accounts, each spouse gets their own T5 and T5008, and if they don’t have duplicate assets in other accounts and stay away from triggering superficial losses, those statements are accurate.

There is no mutual survivorship on non-registered accounts – no beneficiaries. All assets in a non-joint account are deemed to be sold upon death, not transferred and are fully taxed with no access by a surviving spouse until the estate is settled. That alone, apart from the tax savings, is reason enough for all couples to do this. – Garth
===============

Something to keep in mind which may be an exception to the “keep everything joint” advice. Inheritances are not considered as belonging to both spouses unless the money becomes mingled in with jointly owned assets. For example, if you use your inheritance to buy a house that both you and your spouse live in, it is considered “the marital home” and belongs to both of you upon divorce. Thus if you don’t think you would want to split your inheritance with your spouse should you divorce, you may want to keep it in an account in your name only.

If you don’t trust, don’t marry. – Garth

#87 Honest Realtor on 05.13.21 at 9:41 pm

Having a place that is a home, a family centre, as well as an investment that will probably take care of you in your latter years, is a benefit sadly overlooked by those who would choose to gamble their money instead on the risky and volatile markets (As well as risking the fees gouged out by [email protected] and her MER-inhaling broker friends. Real estate commissions are a pittance compared to what regular financial planners and mutual funds steal from clients. There are too few firms like Garth’s that do not charge outrageous fees, sadly)

#88 crowdedelevatorfartz on 05.13.21 at 9:47 pm

@#81 Nonplused
“Some people think zoos are cruel. And indeed they probably were. But nowadays they pretty much all use the genetic stock they have for reintroduction strategies. Noah’s ark 2021.”

++++

100% agreement with the Ark statement.

#89 Vanreal on 05.13.21 at 9:48 pm

Sorry but my spider senses are saying Matt is a fibber. 200,000 by age 30? Doing what? And don’t say doctor or dentist because extensive schooling is needed. Also boats are depreciating money pits. A house would have been smarter.

#90 Beth Smith on 05.13.21 at 9:51 pm

“Integrated registered investment accounts – RRSPs and TFSAs – help prevent overlap and duplication of assets and are essential if you want overall balance and diversification.”

Garth, can you clarify what this means exactly? How do you integrate registered accounts?

#91 crowdedelevatorfartz on 05.13.21 at 9:51 pm

Surprise surprise.
Trudeau’s off the hook… again.

https://globalnews.ca/news/7858498/justin-trudeau-we-charity-scandal-ethics-report/

Good to know our Federal “Ethics” rules are so tightly defined….

Nauseating.

Just curious.
Did SNC help with the creation of the Ethics rules?

#92 Cici on 05.13.21 at 9:57 pm

#46 S.Bby on 05.13.21 at 5:38 pm
According to Bdwy Skytrn raising a child in a rental is tantamount to child abuse. So in his world Mattl should buy a house before his kid is born.

____________________________________________

Take it from me, a mother raising a 5-year old in a rented duplex with a good sized yard… a rental apartment is just fine. The bigger the house, the more you’ll fill it with crap. Children do need lots of play and fresh air outside, but mine never wants to go out in our backyard. He prefers (and always has, since his wee, wee days) to run through parks, hiking trails and beach paths. And he loves people (lucky him; wish I could say the same!), so public green space is the place to be (with the adoption of safe distancing measures, of course).

What children really need is a dry, warm, safe and clean roof over their head, food and water. Lots of time outdoors, lots of love, lots of discipline, lots of support and lots of quality time with all their family members. That’s it, that’s all.

#93 BillyBob on 05.13.21 at 10:03 pm

#70 crowdedelevatorfartz on 05.13.21 at 7:49 pm
@#65 BillyBob
The “Prince of Darkness” looks like a ton of fun.
Especially on those EU twisty roads.

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

‘Tis.

(Pointless anecdote to follow, just for you and Ponzi.)

Started out life as a Triumph Daytona 955, black. (hence “Darkness”). Was stolen, chopped literally in half including the whole electrical harness. Recovered by police and painstakingly restored by sig other’s dad, only without most of the plastic to make it a naked bike, repainted with the traditional racing green.

Older tech, but still something like 128hp at 10,500rpm. The aftermarket exhaust with the big displacement and 3 cylinders sings like a banshee. But even in full leathers I’m slightly more circumspect than I was once was and it got a little sketchy around 160 km/h without the stock windscreen. No knee-scraping for me these days, it’s all about being out for a ride with friends and family.

What a great time to be alive.

#94 Uncle Charlie on 05.13.21 at 10:07 pm

#63 Cheese

Don’t feel too bad. I’m 57, make around 25k/year before business expenses (self employed), and have a net worth of under 20k bank account included. I started a few businesses over the years that went sideways, was on the verge of bankruptcy in 2017, had a couple of layoffs along the way before I decided to work for myself, etc. Things don’t always work out for everyone.

I used to beat myself up over it, but there’s really no point. I have no debt anymore and cheap rent. I’ll retire poor, but such is life. There are a lot of people way worse off than me (or you). That’s the nature of capitalism. Some win, many don’t. Just suck it up, or make changes if you’re young enough. Playing the victim card solves nothing.

#95 VladTor on 05.13.21 at 10:08 pm

…Google ‘hyperinflation.’ – Garth

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

Thank you Garth, I refreshed my knowledge’s about this.

Hyperinflation – inflation with high or extremely high rates. Different sources indicate different criteria:
1. This can be a price increase of over 100% in 3 years (that is, over 2% per month for 3 years)

2. more than 50% per month (that is, 129.7 times a year)

3. more than 10 times (900%) per year.

If see commodity price (and 2021 not finished yet) – we already have hyper with theory #1, #2 – increasing price commodities and soon will be all linked goods. I’ve read for instance that Kraft released letter in which warned about increasing food price soon.

Theory #3 – I don’t know why economists call (900%) per year hyper. In my opinion this is catastrophic inflation – CataFlation!
This is Philip Kagan theory and using as main definition by economists

In 1956 Philip Kagan wrote “Monetary Dynamics of Hyperinflation”, a book often considered the first serious study of hyperinflation and its consequences (although “The Economics of Inflation” by K. Brescian-Turroni on German Hyperinflation was published in Italian in 1931), starting from the month when the monthly inflation rate exceeds 50%, and ending when the monthly inflation rate falls below 50% and remains so for at least a year. Economists generally follow Kagan’s description that hyperinflation occurs when the monthly inflation rate exceeds 50%. In practical terms, we can apply the term hyperinflation to any case where inflation is fast enough to seriously undermine the ability of money to fulfill its classic functions as a store of value, calculated units and media of exchange. This may already begin to occur at much lower inflation rates. Such a definition would apply in cases such as Russia, Argentina, and Bulgaria in the 1990s, even if inflation in these countries reached only a few thousand percent a year, which is significantly less than 50 percent a month.

Monetarist theories hold that hyperinflation occurs when there is a continuing (and often accelerating) rapid increase in the amount of money that is not supported by a corresponding growth in the output of goods and services.
The increases in price that can result from rapid money creation can create a vicious circle, requiring ever growing amounts of new money creation to fund government deficits. Hence both monetary inflation and price inflation proceed at a rapid pace. Such rapidly increasing prices cause widespread unwillingness of the local population to hold the local currency as it rapidly loses its buying power. Instead, they quickly spend any money they receive, which increases the velocity of money flow; this in turn causes further acceleration in prices. This means that the increase in the price level is greater than that of the money supply. The real stock of money, M/P, decreases. Here M refers to the money stock and P to the price level.

For me alarming signal is next … hyperinflation occurs when there is a continuing (and often accelerating) rapid increase in the amount of money that is not supported by a corresponding growth in the output of goods and services.

Exactly what we have here and especially in USA.
The culprit of hyperinflation is, as a rule, the government of the country, which is trying to cover government spending by issuing (issuing) new unsecured money, undermining public confidence in their currency.

What can be next in my (not financial background) opinion – at least sharp (sharp mean – up to 10% in one – max 2 years, better up to 15%) increasing in overnight rate and b’s of that taxes (property and new taxes etc.) to prevent hyper.

That’s why I written …. Can be soon (need to be added if things going like now)

#96 BIG LEAFS FAN on 05.13.21 at 10:09 pm

Hi Garth.
Can you comment on investing in Flow-Thru Shares for a high income earner who has maxed out their RSP limit annually and if there is a recommended maximum these types of investments should represent of your investments?
Thanks

#97 Catalyst on 05.13.21 at 10:14 pm

America truly is the land of opportunity

https://twitter.com/CNBC/status/1392996581171863552

#98 Summertime on 05.13.21 at 10:18 pm

CPI, The artificial measure aka ‘Inflation’ is running above 4 % already, expectation is to reach 5 and even 6 %.

https://www.bbc.com/news/business-57090421

At the same time interest rates are at zero and with bank fees savers are penalized while central bankers pump insane amount of new money in the economy, that QE currently is ‘scaled down’ to ‘just 3 billions a week’ by Bank Of Canada.

QE increases inequality while BoC is ‘closely monitoring the situation’

https://ca.yahoo.com/finance/news/qe-can-widen-wealth-inequality-bank-of-canada-to-examine-its-covid-19-measures-160713200.html

Houses in Toronto and the suburbs increased 500-600 % in 2 decades. That does not constitute ‘inflation’ apparently.

#99 Faron on 05.13.21 at 10:47 pm

#75 Ponzius Pilatus on 05.13.21 at 7:59 pm

#64 Don G.
Good for you.
But what if you wanna travel through Mexico, seeing the sights?
How’s the public train and bus service?
In Europe, comfortable and fast trains pretty much get you everywhere.

It’s very good. Avg income in Mexico is much lower than here, so owning a car is a no go for many making transit a necessity. No comfy trains, but you can splash out on a nice bus and feel comfortable or take a more local bus and mingle with Mexicans. Either can be great.

#100 VladTor on 05.13.21 at 11:23 pm

Garth,

To finish this day I would like to tell you big THANK YOU for very good post. You answered on my silent/hidden questions today. I don’t need your advices right now but… I keep everything in memory and on my comp. We don’t know our future.

#101 Don Guillermo on 05.14.21 at 12:21 am

#75 Ponzius Pilatus on 05.13.21 at 7:59 pm
#64 Don G.
Good for you.
But what if you wanna travel through Mexico, seeing the sights?
How’s the public train and bus service?
In Europe, comfortable and fast trains pretty much get you everywhere
*************************************
National bus system is spectacular. I’ve used it a few times on 7 or 8 hour trips. The fast train thing is non existent similar to most of Latin America. The European and Asian train systems are incredible but not happening in the Americas. Economics and harsh terrain are probably why. National flights are very convenient, economical and well organized. We normally do two or three flying trips a year around Mexico to explore. If you can ignore the media and stereotyping, Mexico is one of the most underrated and beautiful countries in the world. Mexico City (CDMX) is a world class city second to none. Cabo, Cancun and PV are fun for a week or two vacation but but there is so much more. I know everyone freaks out about security. Good article to help put it in perspective and ignore sensationalized reporting. Still have to be careful as anywhere.

https://worldview.stratfor.com/article/murder-mexico-whats-danger-american-tourist

“To put things further into perspective, Chicago has a population of 2.7 million — about the same as the number of Americans that live in Mexico (to say nothing of the 35 million that visited last year). Last year, however, 561 people died in homicides in the Windy City, more than seven times the number of Americans who were murdered in Mexico”

Don’t be afraid. MSM is not your friend.

#102 canuck on 05.14.21 at 12:41 am

#48 Brian on 05.13.21 at 5:40 pm

Garth, can you advise what said 30 year old aka Matt actually does for a living?
_____________________________________________

Don’t forget the partner that makes 100k part time.

#103 Miserable Boomer on 05.14.21 at 4:12 am

HUGE!!!

CDC announces fully vaccinated persons are restriction free.

Trudeaustan- People in deeper lockdown with no hope of recovery.

Trump 1

Trudeau….not on the playing field.

#104 happygolucky on 05.14.21 at 4:56 am

#69 Nonplused on 05.11.21 at 6:50 pm
“Oh, and gas the car. More on that tomorrow.”
No, no, no, buy a Tesla.
Enbridge says they ain’t gonna be shutting down no line 5’s because they can’t. 4 states plus Ontario would have severe fuel shortages and they don’t want to be sued (naturally, as it could be in the 10’s of billions).
Anyway, it is a good thing Governor Grinch is doing this in May, because Michigan gets 65% of its’ heating oil from line 5. They still use that out east, especially in rural areas. That and propane, which also comes down line 5.
For me, this is all great fun to watch as along with the Continental hack we could get a bit of a preview of what the greens have in mind for our economy come 2030. Now if we could only shut down Trans Mountain at the same time. Then we could really introduce an adult discussion of how our energy future is going to look going forward.
Yes, we should build wind turbines where there is enough wind and space to justify putting them and they are close enough to demand.
Yes, people who can afford solar should get solar.
Yes, we need to have a serious conversation about Gen IV nuclear.
Yes electric cars are interesting.
We should do all the things.
But fossil fuels aren’t going anywhere for a long time. Until we have enough nuclear, it will always be required to balance the intermittent power generated by wind and solar. And what we don’t burn, the second and third world will. They don’t have time to save the world 10, 20, or 30 years from now. They are trying to save themselves from poverty now.
In much of the world you can sell a Toyota Land Cruiser but not a Tesla because there aren’t any paved roads and there certainly isn’t any place to charge an electric vehicle. Heck as the transition to electric cars advances here we will soon find we don’t have anywhere near the amount of electricity we need or the grid to transmit it.
Electrification is definitely the future. Even if there were nothing to fear from climate change fossil fuels are finite and depleting. We need to move towards electrification regardless. But it is going to take some time. And wind turbines aren’t going to do it by themselves. It kind of reminds me of the flock of dodos standing around and defending 3 melons in the kid’s movie “Ice Age”. It was meant to be funny and it was, but unfortunately it is the mindset many people have when it comes to energy. “A Jackery and a solar panel should do it.”
(Jackery’s crack me up. “With 1800 wattage and the 1488Wh capacity, the Explorer 1500 will power most of appliances.” Ya, for an hour. Good for camping though, if you have the solar panels. But a tri-fuel Firman generator is 1/3 the price.)
——————————————————————

You elaborated it so well, only my Good Truck would get that far…

#105 willworkforpickles on 05.14.21 at 4:58 am

The head joker/s (as/s) at re-max is/are right in a sense that first time buyers and other beleaguered souls are now priced out of the RE market for good.
Time will prove 2 to 3 years out how right but totally wrong these smug FOMO pumping deception in a bottle snake oil salesmen truly are.
With their FOMO pump bursting at the seams filled with glee and greed going full tilt with the wheels about to melt off, they are far too deceived having (fooled) themselves to oblivion in their pump till it bursts approach regarding real estate prices staying high and going forever higher to no end.
They are right many are priced out for good.
They are dead dead wrong in their pie in the sky assumption RE will keep price escalating in turn keeping those many souls out of the market. This is where they are wrong as to what will stop newbie buyers from entering the market. Its where realtors with that glazed look are just plain wrong period.
Where they are right in assuming first time buyers are out of there for good is far from where there minds are planted as to how this can and will be a correct prediction.
Correct in time – in that these same hopeful one day buyers will still not enter the RE market but…but with the coming unavoidable normalization of interest rates along with a mass sell-off and drop in prices of 60% average or more…this exchange of one evil for another beast all its own will then prevent them from being able to enter the market.
Not what pumping FOMO realtors have or ever had in mind.
I won’t get into the many variables and factors as to why interest rates are destined to normalize as i have here a hundred times or so already but they will in time prove and show the RE pumping hordes just where they are wrong and where they are right…
…regarding where they are right…it will be nothing like they envision today.

#106 happygolucky on 05.14.21 at 5:00 am

#85 Linda on 05.12.21 at 8:11 pm
Will commodity prices moderate once the supply chain is restored? Yes, but likely not to previous levels. Meanwhile everyone is impatiently awaiting vaccine availability. Having pushed AZ to the masses the current supply chain issues with getting a second dose is not going to help get ‘the herd’ immunized. As for mixing vaccines, early indications suggest that doing so increases rather than decreases unfortunate side effects. Not going there, thanks anyway.
————————————————————
Commodity, supply chain, and vaccines…
It is a ZOO. And I am with you re: AZ. A week or so ago, I talked to friend: “just wait, there will be another announcement I hope, Re: AZ“ And I wasn’t wrong.
Except, it’s very obfuscated message to all Guinea Pigs to be…
And message to all Canadian Beavers and Bears: “thanks but no thanks”
WE ARE GOOD

#107 happygolucky on 05.14.21 at 5:08 am

#3 Chameleon on 05.12.21 at 1:35 pm
Only a human would think they could improve an animal with an outfit. It’s really disturbing for us other animals to see this done to furriesP. We, chameleons figured out what to do to make humans knock it off but other animals can’t do our awesome trick.
Since I speak dog a bit here is what Abbie is saying in this photo: “Take this pseudo-vest off me and scoop my next poop with it!”
————————————————————

Abbie, animal and dog by definition, but “pet by design”… I don’t speak “dog” so I wouldn’t’ know what Abbie is saying, but I hear you…

#108 westcdn on 05.14.21 at 6:48 am

Bounce back stronger appeals to me more than build back better. I had serious reverses to learn to deal. It is not my attitude that matters, it is others.

I paid with divorce but I was not innocent. Something I keep in mind. Woman are not guys and you get one that will stand up for you, count yourself lucky for better or worse.

My house is not worth much so I will continue with getting blood out of a stone. Success is something I work hard. It was worth the effort. One thing I had to avoid were sheeple who tried to block me. They were not worthy and go away. I have no love.

It is dry in Calgary. Warm weekend on the way and I wi plant my garden after. Tomatoes are sprouting – they like warm soil. Tough critters to keep alive here. I need to repair my backyard water supply. I am not good at welding/sweating copper pipe so I have putting it off. I can always pay someone if I fail.

I see construction is going gangbusters in my neighborhood. Nice stuff going up – wish I could join them but I have a new car to worry about – no it will be an EV. The guy next door installed 220 outlets in his garage. He is miles ahead of me.

#109 Steven Rowlandson on 05.14.21 at 6:49 am

Advice to Matt. Count your home as being worth one dollar and enjoy your income, savings and toys and don’t brag about your wealth.

#110 JP Brichta on 05.14.21 at 7:52 am

I don’t know if Garth has already addressed this, but what would a graduated tax rate do for real estate? Something like, if you sell your principal residence, you pay the usual capital gains tax (50%) minus 5% for each year you’ve lived there. So, if you’ve lived in the same house for 10 years, no capital gains tax. Has this ever been tried?

#111 UCC on 05.14.21 at 7:53 am

#44 Ustabe on 05.13.21 at 5:12 pm
#2 RandomMill on 05.13.21 at 11:18 am
[i]
Hey Garth – what advice do you have for these millennials who want to see political change? What should they be doing? Strictly speaking from a political perspective (we know the financial advise you recommend)

Bring solutions, not problems, to the table…wherever that table might be.[/i]

Perhaps renters should demand an extra 10K head room in a TFSA for fairness.

#112 IHCTD9 on 05.14.21 at 8:00 am

#94 Uncle Charlie on 05.13.21 at 10:07 pm
#63 Cheese

Don’t feel too bad. I’m 57, make around 25k/year before business expenses (self employed), and have a net worth of under 20k bank account included. I started a few businesses over the years that went sideways, was on the verge of bankruptcy in 2017, had a couple of layoffs along the way before I decided to work for myself, etc. Things don’t always work out for everyone.

I used to beat myself up over it, but there’s really no point. I have no debt anymore and cheap rent. I’ll retire poor, but such is life. There are a lot of people way worse off than me (or you). That’s the nature of capitalism. Some win, many don’t. Just suck it up, or make changes if you’re young enough. Playing the victim card solves nothing.
———-

Epic level reasoning and attitude! Matt for his age demographic is a 1% of 1%’ers. There are more hens with teeth than 30 year olds with 300k HHI’s. No point in making comparisons.

My parents are in the same boat as you other than they managed to own a house (with great effort). No savings, no fancy pension, just one small CPP, and 2 OAS/GIS payments. Dad is sneaking up on 80 and still runs his seasonal one man property maintenance biz. This is the story of their life, so it’s just business as usual for them.

That said, I commend Matt on his reasoning as well. He seems to have delayed gratification nailed down, and has obviously stacked his priorities in the proper order. This may be a partial explanation of that big income too…

#113 crowdedelevatorfartz on 05.14.21 at 8:29 am

The Communists are tightening the screws in HK.

https://www.reuters.com/business/finance/hong-kong-government-freezes-assets-media-tycoon-jimmy-lai-2021-05-14/

#114 safe money? on 05.14.21 at 8:45 am

#98 Summertime on 05.13.21 at 10:18 pm
____________________________________________

governments and central banks are criminals. CPI is a joke.

(“inflation” what a horrible word to use. CPI is NOT inflation, inflation is NOT CPI. as you point out, home prices have skyrocketed, but are not measured in CPI. asset prices have skyrocketed, but again, are not measured in CPI. quality adjustments are questionable. substitution adjustments are questionable. price of chicken skyrockets, so they substitute beef instead, or something that hasn’t risen. price of bread goes up, they substitute something else or assume you stop eating bread. gloves made in China, that rip after a week, cost you less? than good quality gloves that used to be made here that lasted a decade? )

every government bond yield currently is below CPI. this in effect is stealing your money if you have lent to the government (or corporate debt) … out right thievery.

#115 NoName on 05.14.21 at 9:05 am

#108 westcdn on 05.14.21 at 6:48 am

soldering copper pipe

I absolutely hate soldering copper pipe, I do it but i hate it. I remember 70 yro plumber learning me how to do it way back o 1999. I steel vividly remember how neat and civilized and good looking his soldering work
was, mine not so much, but doesnt leak… When ever i can i recommend and use stainless steel compression fittings/end pipe valves, they work like magic. You’ll only need two french wrenches.

valves looks expensive but when you subtract price of torch paste and solder its at par if not cheaper for regular garden hose tap. 5 min max and youll feel like you know what are you doing. At lest that is how i felt.

https://www.amazon.ca/LASCO-06-1033-Arrowhead-254Cc-No-Kink/dp/B01MYNDX31/ref=sr_1_38?dchild=1&keywords=Arrowhead+Brass1%2F2+in.+Compression+Male+Hose+Thread&qid=1620996036&sr=8-38

I watched kid (mid 20), replacing gas meter on my house yesterday. Did he ever do a good job, and fast, and no leaks. Probably makes close to 75k before OT.

#116 Froggy on 05.14.21 at 9:16 am

I also believe no one talks about a reccession in the near future which we’ll ride out but possibly with alot of pain just unemployment up intrest rates up, no goverment help,their broke and money becomes king assets deflate from this peak its seducial

#117 Sara on 05.14.21 at 9:31 am

#86 Sara on 05.13.21 at 9:30 pm
#66 Jens on 05.13.21 at 7:25 pm
Hey Garth, I posted a similar comment before, but I’d like to know your rationale for a joint non-registered account. Why not have two separate accounts with mutual survivorship?
If you jointly contribute to a single account and start buying and selling shares, ETFs etc. in it, attribution of capital gains and dividends to each spouse for tax purposes becomes a bookkeeping nightmare. With separate accounts, each spouse gets their own T5 and T5008, and if they don’t have duplicate assets in other accounts and stay away from triggering superficial losses, those statements are accurate.

There is no mutual survivorship on non-registered accounts – no beneficiaries. All assets in a non-joint account are deemed to be sold upon death, not transferred and are fully taxed with no access by a surviving spouse until the estate is settled. That alone, apart from the tax savings, is reason enough for all couples to do this. – Garth
===============

Something to keep in mind which may be an exception to the “keep everything joint” advice. Inheritances are not considered as belonging to both spouses unless the money becomes mingled in with jointly owned assets. For example, if you use your inheritance to buy a house that both you and your spouse live in, it is considered “the marital home” and belongs to both of you upon divorce. Thus if you don’t think you would want to split your inheritance with your spouse should you divorce, you may want to keep it in an account in your name only.

If you don’t trust, don’t marry. – Garth
===================

I knew you were going to say that (speaking as someone who has been married to the same person forever and probably for always). Regardless, life changes. People change. Marriages don’t always work out. I think it is good to be informed and understand that inheritances are considered separate from marital assets, rather than be surprised (and possibly quite disappointed) down the road.

Would your mom (or whoever you inherited from) want half her estate to go to someone you no longer want to partner with? That is at least part of the reasoning behind the special legal treatment – to ensure that estates end up in the hands of the people they are bequeathed to. It’s not really an issue of trust.

#118 crowdedelevatorfartz on 05.14.21 at 9:37 am

Another night another murder in the Lower Brain Land.

https://vancouversun.com/news/staff-blogs/real-scoop-brothers-keepers-gangster-shot-to-death-in-burnaby-mall-lot

At this pace…. there wont be any gangsters left by the time the Covid vaccine is distributed

#119 Dharma Bum on 05.14.21 at 9:57 am

#33 Earthboundmisfit

The list of things you can buy with Bitcoin shortens to guns, drugs, and porn.
—————————————————————————

The Holy Trinity of my religion.

Ommmmmmmmmmmmmmmm………..

#120 Doug in London on 05.14.21 at 10:28 am

@Earthboundmisfit, post #33:
I must be a boring person because I have no interest in such things. Speaking of which, I’ll avoid Bitcoin and stay with more boring investments like dividend paying stocks and ETFs.

#121 Ponzius Pilatus on 05.14.21 at 10:41 am

Thanks Don G. And Faron.
Re: Mexico transportation.
Faron, my backpacking days are unfortunately over.
Don, for me trains are the way to go.
You see the country floating by, sipping a drink or beer.
Getting off where you want.
Many hotels right at the train station in the centre of the cities.
But, you obviously are a good ambassador for Mexico.
I’m sure it is a beautiful country, but I just can’t stand hot weather.
A train ride in the Scottish highlands, or through Ireland with a whiskey or Guinness in my hand, that’s heaven for me.
Can’t wait until they open up again.

#122 Ponzius Pilatus on 05.14.21 at 10:49 am

#119 Dharma Bum on 05.14.21 at 9:57 am
#33 Earthboundmisfit

The list of things you can buy with Bitcoin shortens to guns, drugs, and porn.
—————————————————————————

The Holy Trinity of my religion.

Ommmmmmmmmmmmmmmm………..
—————
Didn’t know you were Catholic.

#123 Lucky Animal on 05.14.21 at 10:57 am

#43 bdwy on 05.13.21 at 5:09 pm

Canada has the lowest number of housing units per 1,000 residents of any G7 country. The number of housing units per 1,000 Canadians has been falling since 2016 owing to the sharp rise in population growth. An extra 100 thousand dwellings would have been required to keep the ratio of housing units to population stable since 2016—leaving us still well below the G7 average.

I wonder where ScotiaBank got their data? Doesn’t seem correct:

https://www.oecd.org/els/family/HM1-1-Housing-stock-and-construction.pdf

#124 Planetgoofy on 05.14.21 at 11:14 am

Go ahead MAKE MY DAY. SELL
I don’t sell RE ever. Unless you have a crystal ball or are God. Timing markets is precarious at best.
If RE is in a bubble so are a lot of other things!
Read and heed and enjoy the show.
https://www.cnn.com/2021/05/13/business/global-real-estate-prices/index.html
PS my 12 Land tax notices are about to arrive.

#125 Don Guillermo on 05.14.21 at 11:32 am

#33 Earthboundmisfit

The list of things you can buy with Bitcoin shortens to guns, drugs, and porn.
—————————————————————————
Send lawyers, guns and money. The $hit has hit the fan
Warren Zevon – 1978
***************************************
#121 Ponzius Pilatus on 05.14.21 at 10:41 am
Thanks Don G. And Faron.
Re: Mexico transportation.
Faron, my backpacking days are unfortunately over.
Don, for me trains are the way to go.
You see the country floating by, sipping a drink or beer.
Getting off where you want.
Many hotels right at the train station in the centre of the cities.
But, you obviously are a good ambassador for Mexico.
I’m sure it is a beautiful country, but I just can’t stand hot weather.
A train ride in the Scottish highlands, or through Ireland with a whiskey or Guinness in my hand, that’s heaven for me.
Can’t wait until they open up again
_______________________________________

Trains are awesome. So is Scotland and whisky. My wife took me for my 60th. Loved it. Never thought about using trains though. Next time. Rented a car and toured around to distilleries and castles. Edenborough is special.

One last Mexico plug: most of the main cities are in high altitude locations and the weather can be very temperate. San Miguel de Allende is one of the most popular (and most expensive) of the gringo retirement cities and extremely beautiful.

https://visitsanmiguel.com/

But you are correct, Coastal areas can get very hot and muggy. Especially in summer.

#126 DON on 05.14.21 at 11:32 am

Faron

Did you take the aspirin prior to the AZ shot?

#127 DON on 05.14.21 at 11:38 am

Not related to post…but never even knew Australia had a casino money laundering inquiry did anyone else?

“Sydney casinos to ban cash after money laundering scandal”
https://www.bbc.com/news/world-australia-57096238

#128 Don Guillermo on 05.14.21 at 11:56 am

#126 DON on 05.14.21 at 11:32 am
Faron

Did you take the aspirin prior to the AZ shot?
****************************************

Best vaccine to get is the first one offered. AZ works.

#129 Faron on 05.14.21 at 12:08 pm

#126 DON on 05.14.21 at 11:32 am

Faron

Did you take the aspirin prior to the AZ shot?

I did based on my own, probably specious, reasoning that a blood thinner couldn’t hurt. I took a 500mg as that’s what we had in the medicine cabinet, but upon reflection, the 81mg daily for those at risk of heart attack or stroke would have been a much better choice.

The issue is that you want inflammation with your vaccine and aspirin or another NSAID will suppress inflammation and may reduce the efficacy of the vaccine. The risk of clotting is extremely low and the med community thinks Ontario’s numbers are off somehow. So, your best bet would be to just go in and get the shot.

As for side effects, the AZ kicked my ass. I spent the day in bed yesterday with fever and headache. back to 85% today.

#130 Join Em on 05.14.21 at 12:13 pm

Why do you say this, “We continue to have no effective tax on flippers or speckers.”

If you flip a house, aren’t the profits treated as self-employment income?

Sometimes. – Garth

#131 The Joy of steeerage on 05.14.21 at 12:17 pm

Wild boars are running amok in Italy….

https://nationalpost.com/news/wild-boars-corner-italian-woman-at-the-supermarket-and-steal-her-groceries

#132 the jaguar on 05.14.21 at 12:44 pm

AZ. My hero.

#133 DON on 05.14.21 at 12:49 pm

#128 Don Guillermo on 05.14.21 at 11:56 am
#126 DON on 05.14.21 at 11:32 am
Faron

Did you take the aspirin prior to the AZ shot?
****************************************

Best vaccine to get is the first one offered. AZ works.

*******************
Agreed Don G
But good to take precautions.

@Faron

Take care.

I get my my shot next week…last adult in the family.

#134 crowdedelevatorfartz on 05.14.21 at 12:55 pm

@#131 Steerage.
“Wild boars are running amok in Italy….”

+++

At first I thought it was another story about Ponzie but then I realized it was spelled “Boars”…….

#135 crowdedelevatorfartz on 05.14.21 at 12:58 pm

@#129 Faron
“As for side effects, the AZ kicked my ass. I spent the day in bed yesterday with fever and headache. back to 85% today.”
+++

No no no.
You have it all wrong.
Received my AZ vaxx 3 weeks ago

I then drank alcohol for it’s amazing blood thinning qualities and blamed the headache the next day on…. the alcohol.
A win win.

#136 NSNG on 05.15.21 at 12:35 am

The federal reserve and the BoC have both declared:

inflationisnowhere

For those who have eyes to see.

#137 pathetic on 05.15.21 at 12:46 am

no job should be paying 200k a year thats criminal levels of income.