Haters

As difficult as it may be to grasp, not everyone loves me. That’s understandable. Luckily, I don’t actually care (despite the words that follow). But what’s harder to understand is why many of those who regret my existence still come here every day. Are they hoping to see a train wreck? Do they have emotional ambivalence and actually worship me (since I’m almost always correct)? Is it the dog pix? The poignant relationship and marital tips?

Dunno. But there are a few points recently raised by the detractors which should be clarified.

For example, a few days ago my colleague Sinan visited a topic that’s been thrashed a few times here: when to take CPP. At sixty, when first offered? Or later when payments are higher but you’re closer to The End?

The advice has been consistent: when the government gives you money, take it. Invest it. Tax-shelter it. Or spend it enriching your daily life. After paying in for 30 or 40 years, why would you wait?

Well, that prompted several variations of this: “Financial advisors like Garth tell you to take CPP early so they can make fees managing the investment assets you don’t draw down as a result.”

Seriously. Some people believe that.

First, if this blog was only about snaring clients and goosing advisor fees, it wouldn’t offer free investing, tax-saving and financial planning advice 365 days a year. You wouldn’t be reading original content from myself and four professional portfolio managers with serious letters after their names and decades of experience. And did I mention it’s free? And daily? Including holidays?

Second, the average CPP payment is south of $750 a month. That’s nine grand a year. Not even gas or grocery money. That’s the amount one should expect as income on a retirement portfolio of less than $150,000, which is insufficient to engage most fee-based advisors. In reality we ensure all the families we care for have the correct CPP and OAS strategy worked into their long-term plans. The basic premise holds for everyone: take money when offered, even if you don’t need it for income. It’s yours. They took it from you over the course of a working life. Sweetening payouts by delaying them five or ten years is a ruse designed to make you wait and ultimately collect less. Don’t fall for it.

When it comes to renting-vs-owning, the knives always come out. Days ago I lit into the dweebs at Zoocasa who tried to flog a media release saying it was more beneficial to buy a starter condo in Mississauga than rent the same unit.

“Garth picked a one-bedroom condo just to prove a point. If you buy a house the odds are way better that owning beats renting,” the haters said.

The post, as stated, was in response to the math Zoocasa used to ‘prove’ its point. Comparing just a mortgage monthly to a rental payment ignores all the other costs of ownership, from closing fees to property taxes, condo levies, insurance premiums and sales commission. In no instance in any major city in Canada is owning cheaper than renting, especially so when the opportunity cost of a major (20%) down payment is factored in, as it should be.

Today it’s worse. Rents may be up, but so are mortgage rates. That means increased interest paid each month and a far larger amount left owning upon renewal. Even worse is the 30-year mortgage Zoocasa ignorantly suggested, since that exacerbates the interest cost.

As for the example of a 700-foot condo vs a house, we can do the math on that at any time – but the fact is prices are still too high to make this even a remote possibility for most newbie buyers. The real estate correction is in full flower and has a long, long runway yet to go. And that brings us to this comment from the anti-GreaterFool squad…

“Yeah, we know what this site is all about. Houses bad, stocks good. Garth you are a slimy, self-serving hypocrite.”

Facts are facts. Real estate is in the midst of a multi-year contraction which will not end until affordability improves. That will come through a drastic drop in interest rates (not happening) or a meaningful decline in prices (happening). If history is a guide, it could be a decade before conditions return to those of 2021.

This was inevitable. It was forecast. We told you the cost of money would rise. We detailed the inverse relationship between mortgage rates and home prices. And we showed, with nauseating repetition, why a one-asset investment strategy is fraught with risk.

This site’s always been about balance. That’s the philosophy behind a 60/40 liquid portfolio, and the Rule of 90 when it comes to real estate. We told you the biggest risk in life is running out of money, not losing it in an investment that declines. We’ve reminded you it’s possible to rent a roof when you’re old, but you can’t rent an income. Only buy a house if you can afford one and doing so doesn’t gut your finances or bury you in debt. Never act through FOMO, peer pressure or the foibles of a distorted society.

There, well. I feel better. Now please try to behave.

About the picture: “Rufus is a soulful 14-year-old cairn terrier,” writes Jay, “who keeps me grounded.  As a landscape contractor he is the perfect companion, as we both enjoy digging in the dirt.”

136 comments ↓

#1 Misslucky on 08.14.22 at 5:07 pm

I see half-price coming on housing. Do you, Garth?

#2 uncle dave on 08.14.22 at 5:10 pm

Hear, hear!

#3 MC on 08.14.22 at 5:11 pm

100 Freaking % !

Don’t stop.

#4 Brad Goat on 08.14.22 at 5:12 pm

Now is the best time to invest in rural Ontario real estate. $500,000 is cheap for a home in the middle of Kenora Ontario.

#5 Prince Polo on 08.14.22 at 5:14 pm

I hope you are deep into your scotch and Taylor Swift collection by now. Let’s raise a glass to the most pathetic steerage section in Canada (along with its gracious host). Cheers!

#6 SW on 08.14.22 at 5:15 pm

No bubble in Canada.

https://betterdwelling.com/canada-eliminated-its-real-estate-bubble-by-revising-data-it-hit-a-new-one-already/

#7 Medic Mike on 08.14.22 at 5:17 pm

You’re the best Garth! Can the comments section and keep up the great work, we normal people appreciate the tireless work from you and your merry gang. Of course the dog pics are what keep me coming back every day as well.

#8 TurnerNation on 08.14.22 at 5:20 pm

I cannot understand the worker shortage with the hiring processing being so simple in terms in Kanada!?

1) Manadatory 3* medical treatments (*subject to increase)
2) Mandatory mask wearing
3) Mandatory rainbow month participation
4) Mandatory Pink Shirt day Participation
5) Mandatory daily Land Acknowledgement recite
6) Email signature pronoun selection and assignment required
7) Yearly, CRT education.
8) Yearly, Bias training
9) Monitoring of personal social media accounts for WrongThink.

———–

Deep Dive. When I say that our governments no longer exist, save to fulfill the will of the Global Corporations what do I mean?
One, the ‘lockdowns’ where the greatest transfer of wealth since the GFC.

Two, according to a Canucklaw.ca article, the Premier of Alberta, per the Alberta Lobbying Registry met with reps from Big Pharma ( Pfizer, Novartis, Janssen, AstraZeneca etc) SIXTY times between January 13th 2020 and October 4, 2021. SIXTY entries into the lobbyist meeting calendar.

Further, canucklaw.ca notes:
“This is particularly interesting since it’s not the Provinces who do the purchasing of vaccines. That is handled by the Federal Government”


— I already posted this on here. 2019. What timing eh?:

“2019: The following companies began trading on a stock exchange via IPOs:
DoorDash, Zoom, Lyft, Uber, Pelaton.
Within a few months each would rise to unimaginable heights (and wealth).

#9 Søren Angst on 08.14.22 at 5:22 pm

Cry babies.

Can’t stomach the fact their GENIUS investment of Cdn RE wasn’t so genius after all nor will it ever be.

Of course, they take it out on you Garth.

SHOOT THE MESSENGER.

#10 KuatoLives on 08.14.22 at 5:27 pm

The question i ask people is this:
If I were to give you a 300k house, what would you do with it?
Typical answer: Live in it.

Then i ask, what if I gave you a 10 million dollar house, what would you do with it?
Typical answer: sell it.

Then I ask why the difference?
Typical response: because it doesn’t make any sense to have that much money locked up in a house when I could use the money for other stuff.

Then I ask at what number does the value cross the line of sensibility.
Typical answer: They don’t know.

#11 The Great Gazoo on 08.14.22 at 5:28 pm

Thanks Garth. Appreciate all the great work you and your team do. Need more folks who provide sensible explanations and guidance in all this madness.

#12 Flop… on 08.14.22 at 5:29 pm

Uncle Garth,

You’ve got to stick around man.

I can’t afford to pay for therapy…

M48BC

#13 Amarok on 08.14.22 at 5:29 pm

Thanks for everything you do! And as valuable as this blog is, I would happily give it up for a few weeks so Mr. Turner could enjoy some quiet time away from the haters.

Take some Turner Time, Garth!

#14 Pizzaguy on 08.14.22 at 5:31 pm

I love your blog and your team of experts! I’ve read it almost daily since 2012. I’m very grateful for the amount of expertise shared over those years in bad and good times. From those great FREE advice I got from here together with other self reading material I’m retiring at 53 with a million invested in a balanced portfolio and living off dividends (5% yearly). In addition, my condo is paid. Back to the point whether or not to take CPP at 60 yrs I read about RRPS tax strategies but I think you nailed : if CPP were an investment will be an equivalent of CA$150K. One final word for others DIY investors: you need to spend +10 hrs weekly or so mainly to understand what actions not to do and navigate thru tons of info. Also, you must enjoy this whole investment & tax topics to be successful in your jorney to financial freedon. PS.: I started work at 18 so I feel 35 yrs of corporation world is enough for me.

#15 Reality Check on 08.14.22 at 5:31 pm

1misslucky
I see half-price coming on housing. Do you, Garth?
—————-

Unlikely, although that would bring Canadian house prices down to somewhat rational prices.

The majority of home owners in canada bought 5,10, 15 years ago and can handle higher interest costs. And the suckers that bought at nose bleed prices in the last couple years will cut all other expenditures to the bone, and borrow from mommy/daddy to keep their house. (Remember Canadians would cut their left arm off before selling their house at a loss)

We would have to see massive increases in inflation/interest rates and/or significant increases in Unemployment – neither likely.

So likely no more than a 10-20% correction in most markets (Net of the insane bunny patch).

So Canadians will get to live with amongst the highest housing costs in the developed world – London style prices in Burnaby style towns.

But after all Canadians like high taxes and high internet/cell rates as well. It’s what makes us Canadian.

#16 Charity on 08.14.22 at 5:32 pm

Yes Garth you have….For 14 years now and no wavering that doesn’t count the books also.
I must note that once upon a time you used to advocate for balanced portfolio using mutual funds, but that predated etfs.
And infact you wrote 2020: after the boom. Well 2022 is after the boom and boy was there a boom in 2020. Even though you were referencing boomers just exchange it with WFH.

#17 David W2 on 08.14.22 at 5:35 pm

Garth and team,

Thank you for all that you do and the knowledge/insight you share. Following your blog daily has inspired me, given me courage to invest, and am living/loving a balanced life. Thanks again.

#18 TurnerNation on 08.14.22 at 5:38 pm

The comments section of this weblog is a frightening tabula rasa at times no? Well here goes..

I can only imagine that Gartho’s choice of manly footwear has successively raised the ire of many a Human Resources Dept.

Just imagine the hastily called meetings:

‘Surely we can pin something onto him?’

‘What about animal rights.’

‘Nope, cattle are not an endangered species.’

‘How about Confederacy’?’

‘Don’t think so, too far north here’

‘How about toxic masculinity?’

‘Well technically they are cowBOY boots. Not yet men’

‘But they could be. Does anyone recall the 90s’ band Boyz to Men?

‘Can we stay focused here people?’

#19 Big Bucks on 08.14.22 at 5:39 pm

Garth ,you’re all right.Possibly your best post yet.

#20 Dogman01 on 08.14.22 at 5:43 pm

#12 Philco on 08.13.22 at 12:22 pm

#67 Summertime on 08.13.22 at 9:50 pm

“The only way would be to accept much lower standard of living, kill the inflation with much higher rates and force revert the asset prices to the historical trends. The alternative would be to continue with the inflation spiral that at some point will lead to explosion of unrest and violence as standard of living plunges further.”

——————————————————

That is the plan, lower the Standard of Living for Western Populations. Our government is working in the interests of global “Peoplekind”, not Canadians.

Trudeau’s government, zealots possessed by an ideology of local destruction, to create a greater good. They are beholden to a cause of globalist authoritarianism as professed by the World Economic Forum and its Bond-villain leader, Klaus Schwab.

They believe the Western nation state is the most significant impediment to a better future because nations are by definition self-interested—Canada having independent goals and seeking prosperity for its citizens conflicts with the globalist agenda.

A program to dismantle the successful society, first by revoking the legitimacy of the nation and its people by attacking and erasing its past. The population must come to loathe itself and feel a profound guilt that must be atoned for by denouncing the country, its institutions, and themselves.

The second step is dismantling the economy, without which the society cannot sustain itself (on a national and personal level). Because of climate change, the economy must be “transformed” or “transitioned.” This is fancy talk for torn down. They go after economic staples; as that effects the masses the most. (Inflation, just not wage inflation)

Canada, the Netherlands, and the US, this program is run in parallel in each nation, strange coincidence?

The goal is to lower the standard of living in the West to a “World Standard”, a level at which it would be sustainable to have 70% of he World population at. They do not blink an eye WRT China and Coal, as China is achieving the right standard.

Here is one of Canada’s Globalist Poster Boys, Mark Carney:
https://www.youtube.com/watch?v=SPY_SxyNB5M

Climate Change is a primary vehicle to gain acceptance by the West’s population, a muti faceted unrelenting propaganda campaign.

Here is video outlining the problem, 10+Billion people cannot live like we do in the West, however the 9 Billion will not accept a permanent lower standard. Hence they need to be brought up and the West’s progress at a minimum needs to be stopped and better yet to decline.

Hans Rosling: Global population growth, box by box
https://www.youtube.com/watch?v=fTznEIZRkLg

#21 Richard L on 08.14.22 at 5:45 pm

Garth it is your blog. You can say whatever you want. We (steerage) have the right to read or not. There is no reason for you to take offence or even have a comment section.

#22 ogdoad on 08.14.22 at 5:46 pm

Ahh haters. People who strive on trying to ’empty your bucket’ because the instant gratification they feel is filling a/the void in their lives, for the moment. Until they realize (won’t happen in this society) that its up to them to solve their victim problems ON THEIR OWN…I offer Og’s victim care program. This month only 10% off to the commenters on this blog. YAY! [email protected] for all those interested.

…Haters will grow the closer you get to hitting the nail on the head. In this case, their pockets…sucks. How could society let you down? Maybe ’cause NOBODY CARES! And your mom was wrong…sorry, but true.

Anywho, G. Only a dog wants to be loved by everyone…(full. dis. my dog persona comes out when hotties are around….can’t explain it…kinda cool, tho)

Og

#23 Millennial 1%er on 08.14.22 at 5:48 pm

You’ve made me like, idk, 200k at this point with dead simple advice? All for free?

Screw the haters, they can’t into math

#24 Bob in Hamilton on 08.14.22 at 5:49 pm

Did you get your ancestral property sorted out on Friday?
Were you able to purchase the Elgin home?
Hope so….

#25 Kurt on 08.14.22 at 5:54 pm

Hey Garth:

“But what’s harder to understand is why many of those who regret my existence still come here every day. ”

It’s fairly simple. You allow them to post. They like having an audience, and feel like they are being effective when they attack what you are saying. Of course, many of them lack the critical thinking skills required to do that, so they end up attacking you. Your tolerance is expansive, so when I see DELETED [anti-vax] or DELETED [racist] I am confident that nothing has been lost in silencing the poster. Thanks for hosting one of the few blogs I regularly visit.

#26 Dave on 08.14.22 at 5:56 pm

More importantly how did you make out in Mount Elgin, Ontario?

#27 THE DANDADA on 08.14.22 at 5:57 pm

2 things I NEVER do.

1) Gamble at the casino (well sometimes but just for fun)
2) Go against Garth’s advice. Track record is proven.

#28 Freedom First on 08.14.22 at 5:57 pm

I am a 70 year old long time fan, and reader of Greater Fool. Over my decades of following Garth, I have found him to be honest, and a man of integrity, like very few people I hold in such high esteem!
Of course, as with every individual, our opinions may differ on a few topics, however, when it comes to financial matters, Garth Turner is a man I agree with 100%.

Thank you Garth, humbly,

Freedom First

#29 Quintilian on 08.14.22 at 6:00 pm

Garth , never,ever , tell a drunken gambler to stop gambling because luck is unreliable and about to turn.

But if you really want to trigger a more hateful response, state in the presence of someone from Surrey or Kelowna, that housing can correct if it overshoots, and can possibly crash if it deviates too far from fundamentals.

#30 Leichendiener on 08.14.22 at 6:00 pm

I love you.

#31 Fluorine on 08.14.22 at 6:04 pm

Who listens to the people in the comments?? Haha

I include myself in this, as well.

~Flu

#32 Steve French on 08.14.22 at 6:05 pm

Do other blog gods reckon it’s possible that Smoking Man faked his own death and is currently living in a thatch hut on a beach in Honduras?

Just wondering…

SteveO.

#33 I wanna land on 08.14.22 at 6:07 pm

Thin-skinned Canadians abound in Canada. Continue to speak the reality. God forbid people get free land just because they claim it’s theirs.

#34 DON on 08.14.22 at 6:13 pm

A lot of people are facing reality and are forced to take the blinders off. Reality is bit$h slapping their bias right in the pocket book.

Garth…you and your colleagues provide valuable and FREE analysis. Priceless can’t even describe it.

I don’t mind riding shot gun. he he

#35 DON on 08.14.22 at 6:16 pm

#33 Justinflation on 08.14.22 at 6:08 pm
Toronto housing right now is a buying opportunity.

Inflation has likely peaked. Gas is once again well under $2.00 per litre and prices in general are headed back down.

WFH is over. Everyone is moving back to the city.

Right now if you have the cash or can borrow it, you can buy a house in a nice neighbourhood with no competition, under ask, with conditions, and you can walk away and come back and play games with the seller.

You are the only buyer.

This time next year people will be kicking themselves that they did not take advantage of this.

It is a once in a lifetime opportunity to get a Toronto house ridiculously cheap.

“Bunny patch” – yeah that was dumb. Those people will lose everything. Who cares? Stupid is as stupid does.

But Toromto? Get in there and start buying people. It’ll never be this easy again…

&&&&&&&&&

You don’t read the news do you…and if you do read it is only the headlines…right?

#36 Stone on 08.14.22 at 6:16 pm

The comments section represents less than 1% of your readership?

That’s less than a statistical anomaly.

#37 PeterfromCalgary on 08.14.22 at 6:16 pm

Hater’s going to hate just ignore it.

#38 NOSTRADAMUS on 08.14.22 at 6:22 pm

C.R.A. ASSASSINS!
Off target, however, forewarned is forearmed. Point of interest, state side, the I.R.S. ( Internal Revenue Agency) is adding 87,000 new revenue agents on top of the thousands of existing agents. In addition the agency’s budget will multiply by nearly six times at an additional cost of 80 billion dollars. How long before there is a similar announcement here in Canada? In Canada we have the C.R.A. (Canada Revenue Agency.) As the U.S. population is approximately 10 times larger than Canada’s, I have taken the liberty of dividing the U.S. numbers by 10 – which equates to the possibility of 8,700 “New” C.R.A. agents along with an additional expenditure of 8 billion dollars over and above of the existing budget. The C.R.A. will be on a witch hunt, much like a mafia enforcer shaking down the citizens for every penny they can squeeze. Once again the struggling small business owner and the middle class are in for a world of serious financial pain. As always, the Wee Little People will suffer for the governments mismanagement and years of authoritarian blunders coming out of Ottawa’s control freaks. I envision a sub branch of the C.R.A. the Bounty Hunter Division. A hot line to report on your neighbor’s with a cash finders fee (hush money.) Pay back time for the Dic* Head next door. Anyone involved in the barter system will be classified as a person of special interest. The problem for the wee little people is the lack of cash to hire a lawyer or an accountant to dispute the enforcers claims. Many, may have thought freezing the bank accounts of those who donated to the trucker convoy was way over board. Whoa, big fella, if you have the audacity to question their authority, there is the strong possibility they will freeze your bank account( plural accounts) in a New York minute. Now they will have your undivided attention. You can call me a dreamer, but I’m not the only one.

#39 Old gringo on 08.14.22 at 6:23 pm

Hahaha.
Keep at it oh great bearded one.
When idiots cry and whine, you know you’re singing the right tune!

#40 Habitt on 08.14.22 at 6:35 pm

Am very thankful for all you and your crew do here Mr Garth. The blog has helped me tons as well to be sure many others. Water off a duck big guy. Read every day. And loving it!

#41 Chris on 08.14.22 at 6:35 pm

Boo haters. Yay Garth & Team! Every day since October 2015 I’ve come to this blog, and never been disappointed. Reading from Australia, don’t even care about the Canada focus. If the article doesn’t mean much to me, the dog pic will! Keep it coming, Garth :)

#42 Love_The_Cottage on 08.14.22 at 6:44 pm

Speaking personally I come here because I value and agree with 90% of your advice and have learned from it but I don’t have to agree with all of it?

Taking CPP early as a general rule makes sense. Taking it at 60 while working and in the max tax bracket with RRSPand TFSA maxed out doesn’t.

You won’t take money because you have to pay some tax on it – so better to receive nothing? False logic. – Garth

#43 WTF on 08.14.22 at 6:45 pm

Hate you? Well ya.

Investment Advice is brilliant and welcomed, no probs there.

Dude, Its. the. chiseled. abs….

#44 Philco on 08.14.22 at 6:55 pm

You won’t take money because you have to pay some tax on it – so better to receive nothing? False logic. – Garth
Lol Garth must be a huge baby sitting job how do to keep up!?
Talk this fall if I don’t implode. Lol

#45 Wrk.dover on 08.14.22 at 6:56 pm

Garth; you are our only hope in Hell!

#46 Ken R on 08.14.22 at 7:07 pm

I have followed this blog for years and received excellent advice on a variety of issues. Never charged a dollar.

Objections to good advice? Army of experts.

#47 Wallflower on 08.14.22 at 7:17 pm

The wonderment, for me, is that Garth actually publishes the comments from these a-holes…errrr…detractors.

#48 Victor Llearna on 08.14.22 at 7:19 pm

Was running some numbers on the forced CPP contributions that the govt steals every year, From my paycheck its 3200/year and employer also forced to contribute the same. so lets say 6400/year for 40 years $256,000. Just to get the base amount back need to live 20 frigging years. and if you were to invest that $6400 per year on your own at 7% per year you would have around 1.2 million saved. since it only pays out $14000 per year you need to live 80 more years to get $1.2 million back!!!.

CPP is the biggest ripoff around just keeps a bunch of govt bureaucrats employed making nice easy figure salaries.
Why in the world did people accept this deduction from their paycheck it is frigging robbery!

https://www.calculator.net/investment-calculator.html?ctype=endamount&ctargetamountv=1000000&cstartingprinciplev=6400&cyearsv=39&cinterestratev=7&ccompound=annually&ccontributeamountv=6400&cadditionat1=end&ciadditionat1=annually&printit=0&x=105&y=26

#49 Ustabe on 08.14.22 at 7:21 pm

I’d be willing to bet they don’t just hate you, Garth.

They would also hate themselves, it seems, if you parse a number of their posts. Like the Trumpers sudden disappearance, so to will the haters slink away when the system rights itself and they had nothing to do about it.

I recall, years ago, when I first started commenting. It was because the running topic regardless of our host’s topic was side gigs. That I had something I could contribute to from experience so I did. It was an ongoing and reasonably friendly topic.

Its not like that here any longer. Now it seems to be a game of one upmanship, gotchas and trollish commentary.

Insecure, self-hating and prolific…we have lost or minimized way too many posters who used to contribute/help. Way more chaff than wheat.

#50 crowdedelevatorfartz on 08.14.22 at 7:23 pm

It’s not hate Garth.
Its jealousy.

The Amazons.
The chiselled abs.
The multiple real estate restorations.
Free, objective, advice.
Doggie pictures.
No advertisements.
A free for all comment section with verbose lunatics and Wokesters battling it out..
Priceless.

As for Haters gonna hate…
Taylor Swift beat ya to it.

https://www.youtube.com/watch?v=rXD2x_kTK_c

But.
You rock more than the cheesy video

#51 Reality is stark on 08.14.22 at 7:24 pm

Not sure why you feel so unloved.
I guess my comments are less controversial so folks find me less offensive. Perhaps you need to tone things down a bit.
Now let’s get back to the topic of real estate agents being nothing more than aesthetic shills.
This job needs to be properly regulated. They should have at least 3 years job experience as a tradesman before qualifying for a license.
When a real estate company gets sued for negligence in not disclosing a major structural issue with a home they shouldn’t be allowed to use the excuse that “all our agents are unqualified” and not really fit for the job at hand.
We understand that our shills not only have no financial qualifications even though buying a house is often the most important financial decision a person can make but they really don’t understand anything about the structural condition of the asset in question either.

#52 mj on 08.14.22 at 7:25 pm

Hi Garth, I hope this is positive for you. I have been reading your blog every day for years. I don’t leave my house because of mobility issues, but this is one of the things I look forward to every day. keep up the great blog you are doing. Thank you

#53 BCWally on 08.14.22 at 7:31 pm

Eh, you don’t need to defend yourself Garth. Those critical folks are the reason money can be made in the first place or serious money losing mistakes avoided.
This blog focuses primarily on money matters and provides guidance and insight based on mathematical and economic fact.
I get that crap too all the time – like why a man of my age would rent, why do I invest in “risky” investment vehicles, etc. Try and talk to almost anyone else about intrinsic value and simple math guiding your money decisions and you get about 5 seconds before the eyes glaze over and the conversation is over.
I’m a tech at a large industrial site, so my direct decisions affect millions of dollars lost or preserved by my employer. It’s only different from investing in that at least I have a solid blueprint on how and why that plant or machine works.
After several embarrassing and costly mistakes early in my career I learned that same dispassionate approach as this blog uses for investing is the winning strategy.
As far as I can tell, the critics you are encountering are violating rule #1.
Never make an action or decision based on assumption, opinion, pride, or even previous experience and be sure you will never get all the facts to make that perfect action or decision. Prove everything you may think of beyond a reasonable doubt before acting, or in this case writing. Count on still being wrong occasionally.
There are other rules but this is the big one.
As for anyone critical of this blog which only states fact and tries to educate people on avoiding disaster, well thank goodness they are around.
In a perfect market nothing is overpriced and the intrinsic value of any asset is perfectly priced, hence no one makes any money. Also, there would never be any “deals” to be had as well.
However with the vast majority of people (especially the critics) the value of any asset is often distorted by assumption, opinion, pride and even past experience.
This provides the few people who do act on mathematical and economic fact a means of profiting or avoiding economic catastrophe.
So I guess thanks to the critics who write such damaging nonsense for providing the rest of us a means of safety and prosperity.
Keep up the good work Garth and colleagues, always learning something new every day.

#54 Love_The_Cottage on 08.14.22 at 7:33 pm

#41 Love_The_Cottage on 08.14.22 at 6:44 pm
Speaking personally I come here because I value and agree with 90% of your advice and have learned from it but I don’t have to agree with all of it?

Taking CPP early as a general rule makes sense. Taking it at 60 while working and in the max tax bracket with RRSP and TFSA maxed out doesn’t.

You won’t take money because you have to pay some tax on it – so better to receive nothing? False logic. – Garth
__________
I did the MSU first.

So in my example you’re retiring at 61 and you’re in the top tax bracket in Ontario at over 50% at age 60.

You suggest taking CPP and losing half of it to tax, instead of waiting 1 year and getting 7.2% more per year for the rest of your life and paying less tax?

You’re receiving an increase of 7.2% for the rest of your life at a lower tax rate. Anyone else see the math, or is everything Garth says taken as gospel here?

#55 DJT on 08.14.22 at 7:36 pm

You will eat worms, bugs and weeds, own nothing and be happy.

#56 truefacts on 08.14.22 at 7:48 pm

You offer a lot of good info here – even if I disagree with you at times. I am amazed that you find something to write every day! Keep it up!

#57 yvr_lurker on 08.14.22 at 8:00 pm

Garth has made good points, and we know where he stands on the core issues related to personal finance. We can either follow what he says (to some extent) or chart our own course.

For us, we upgraded to a large heritage-style house in 2019 in Kitsilano five blocks from the beach that required a new mortgage (to be paid off in full in 2025). Great move as it has been fantastic to live in during COVID, it and will be passed onto our kid; inter-generational house. The purchase violated Garth’s balance rule, but we are super-happy with our decision.

As for CPP etc, both my wife and I love our jobs and are still at the top of our game. Will work until we are 68 or so, and then will retire. Don’t need to take CPP next year as will effectively lose 54% of the reduced CPP amount due to the uber-high marginal rate. Better to defer it until am around 70 and take it at the higher rate when I am retired and have done 39 years. For us, taking it at 60 is not a good option at all. Even with this “risky” decision in 2019, we are on track to have at least a mid 6 figure income in retirement. Renting the suite, and earning a little extra with good side gigs are in the cards.

Garth is correct that we should all be careful and eschew taking on needless debt (buying rental properties with zero down, over-paying in small towns, and generally over-extending HELOCs. We all need to accept that for Garth, the market and being balanced is his manta (as it is his business). He gives us good advice in general. However, we all need to decide what is the best fit for our families.

#58 Ole doberman on 08.14.22 at 8:03 pm

Canadian RE is a double bubble

#59 Ohm on 08.14.22 at 8:04 pm

We love you Garth and contributors! :)

#60 Mattl on 08.14.22 at 8:08 pm

Well I for one read here because I respect you, and feel your investing advice is spot on. But you have not been that accurate on RE, let’s be honest please. Greater fool was written in what, 2007? Since that time houses are 2x+. And recently you called for a slow, no crash.

I know you aren’t truly interested in soliciting feedback but if you were I’d say people challenge you because of a complete lack of willingness to admit you are/ were wrong. It would be impossible to post 365 days a year and always be right but thats the position you stake, for some odd reason.

But you are a gem, and this site and your advice is awesome, and has changed my financial future for the better.

#61 yvr_lurker on 08.14.22 at 8:09 pm

Love the Cottage: Taking CPP early as a general rule makes sense. Taking it at 60 while working and in the max tax bracket with RRSPand TFSA maxed out doesn’t.

You won’t take money because you have to pay some tax on it – so better to receive nothing? False logic. – Garth
—————

Perfect example of how Garth’s view on this makes little sense to me. If working full time in the highest tax bracket at age 60 with everything maxxed out (TFSA, RRSP), getting an early CPP seems to make little sense
to me. Unless there is some finer point buried in the tax code somewhere, the CPP will effectively be like receiving a “raise” at work whereby 54% of it will be hoovered away by Trudeau. This seems to negate any advantage of taking it early. This is my scenario, and from a financial planner we have talked with they advise on waiting until you are actually retired from work.

We are quibbling over peanuts. If you really need the CPP to this extent, then you have bigger issues to ponder. – Garth

#62 Nonplused on 08.14.22 at 8:23 pm

Everyone has haters. If you don’t have any haters you aren’t saying anything important. Hold my beer and watch this:

Windmills and solar panels will never solve our energy problems because they don’t work and cause more landfill problems than they solve CO2 problems. If CO2 is even the problem they say it is, there is no proof, only a correlation. We need nuclear, we don’t have anything else in the pipeline that can come close to replacing fossil fuels.

There, see? That’s how you kick a hornets’ nest. With 100% facts.

#63 Michel HFX on 08.14.22 at 8:27 pm

Your blog is one of the highlights of my day and has been since I started reading it about 5 years ago. I wish I had been reading it 20 years ago, as I would be in much better financial shape today. As for the dummies who apparently can’t get the very consistent and easy to understand message as you’ve summarized very nicely today, to heck with them. The only reason I scroll through the comments is to see you amusingly skewer the lesser minds for their insolence. Please keep it up, we need you and your minions!

#64 Fact Checker Fred on 08.14.22 at 8:28 pm

After paying in for 30 or 40 years, why would you wait?
.6%/month guaranteed and indexed to inflation is one good reason for me.
That doesn’t apply for everyone and I think there are plenty of good uses for taking the money at 60. For example, throwing it into an RESP for the grandkids is a good one.

#65 Warren-the-lagging_indicator on 08.14.22 at 8:29 pm

That Og dude on here is really funny. What the heck is a doad? I think they are going to start shifting the language to avg inflation of 2% not nominal. This means Higher rates for longer until those job losses start to spike.

#66 Parksville Prankster on 08.14.22 at 8:29 pm

There’s a blog here? I just come for the babes and beers.

#67 Love_The_Cottage on 08.14.22 at 8:46 pm

#60 yvr_lurker on 08.14.22 at 8:09 pm
We are quibbling over peanuts. If you really need the CPP to this extent, then you have bigger issues to ponder. – Garth
_________
I’ve been coming here a long time and I’ve not once seen Garth admit he was wrong about anything. This is as close as we’re going to get. I’ll take it :-)

#68 Sail Away on 08.14.22 at 8:50 pm

Good post, Garth, thanks!

There will always be haters, just as there will always be critics. It’s much easier to criticize and ridicule than to support.

Of course, there’s nothing wrong with disagreement, but many people feel that disagreeing with an idea justifies personal attacks. And that’s where useful discussion disappears.

#69 Chris on 08.14.22 at 8:53 pm

I, and both my adult children, have benefitted handsomely from your free, entertaining, and insightful columns over the years. Thank you very much!

#70 Late Stage Capitalism on 08.14.22 at 8:58 pm

#8 TurnerNation

TN, aren’t you just pointing out the reality of late stage capitalism?

Consider Canada alone. Look at our leaders. Look at the self serving deception, misdirection, ethics or lack there of. Look at our debt.

Did you see in South Korea – they pardoned that Samsung guy because of economic impact.

All this twisted unlawful stuff going on everywhere in plain sight. Crazy that it is tolerated and there are no consequences.

I really don’t see how it all improves.

Did I mention the debt?

#71 Sail Away on 08.14.22 at 9:00 pm

On the support side:

Blog: Your blog, advice, and many educated viewpoints from other contributors provide a great service to a great many people.

Vancouver Island: having lived many places, this place is fantastic. A mountain race yesterday, another mountain run with the dogs this morning, then an excellent meal and show at the Chemainus Theatre. It’s like paradise… or a little better.

Pleasant, knowledgeable and polite blogdogs: lots of these here with a huge range of experience and specific expertise that they freely share. Thanks!

Things are pretty dang good.

#72 AK on 08.14.22 at 9:14 pm

“As difficult as it may be to grasp, not everyone loves me.”
========================

You are not the only one. For some reason, Ron the Mortgage Guy has blocked me on Twitter.

#73 Cici on 08.14.22 at 9:15 pm

Garth, you are awesome. And so is the rest of your team.

Screw the hater cry babies.

Just Blog On!

#74 crowdedelevatorfartz on 08.14.22 at 9:19 pm

33,000 BCGovt employees are poised to strike.

The govt has offered a $2700.00 signing bonus.
A 3 year contract worth 10-11%
( 1st year 3.76% increase)
( 2nd year 3.23 % increase)
(3rd year 3 % increase UNLESS the inflation rate is 9.5% or higher….they get another 1% ).
The Union has voted to strike.
And these inflation indexed, full pension govt “workers” STILL want more, more, more.

#75 yvr_lurker on 08.14.22 at 9:25 pm

#60 yvr_lurker on 08.14.22 at 8:09 pm
We are quibbling over peanuts. If you really need the CPP to this extent, then you have bigger issues to ponder. – Garth
_________
I’ve been coming here a long time and I’ve not once seen Garth admit he was wrong about anything. This is as close as we’re going to get. I’ll take it :-)
——————

Indeed, you have it nailed. Garth provides good general advice, but each circumstance is different and one needs to not defer to the “experts” on every little issue, but should have some sense on how to crunch the numbers for themselves to see what is the truth. For us, it makes zero sense to take CPP at 61 when I am still working and in the 54% marginal bracket.

#76 Felix on 08.14.22 at 9:34 pm

Eliminating photos of dogawful mutts will limit traffic of low IQ types to this blog, reducing the haters by at least 95%.

#77 Dr V on 08.14.22 at 9:36 pm

56 lurker

“Even with this “risky” decision in 2019, we are on track to have at least a mid 6 figure income in retirement.”
————————————————–

Even if you split the retirement income perfectly, the 50% tax bracket in BC starts at $220k, so taking CPP
earlier or later is a moot point for you.

#78 Daveyboy on 08.14.22 at 9:37 pm

Garth, I am a multimillionaire at the age of 39 from this blog. Can’t thank you enough!

#79 Open your eyes on 08.14.22 at 9:40 pm

#9 Søren Angst on 08.14.22 at 5:22 pm
Cry babies.

Can’t stomach the fact their GENIUS investment of Cdn RE wasn’t so genius after all nor will it ever be.

Of course, they take it out on you Garth.

SHOOT THE MESSENGER

________________

Save a bullet for the guy who claims he is a Canadian … but lives in Italy so he can follow a Canadian financial/RE blog and think that others are interested in what he has to say. How badly did he screw things up to be exiled to Italy?

Yet another pea brain who somehow thinks that Canadian RE is exclusively about single family accommodations. I have invested in Canadian real estate for a dozen years and have done and continue to do better than 95% of ALL investments. Even my private residence has performed phenomenally well.

#80 crowdedelevatorfartz on 08.14.22 at 9:42 pm

“We are quibbling over peanuts. If you really need the CPP to this extent, then you have bigger issues to ponder. – Garth”

++++

Respectfully
I agree with yvr lurker.

Why should i put myself in a higher tax bracket now if I don’t need the money now and when I retire I will probably give the CPP and OAS directly back to the govt in taxes anyway due to my future “balanced and diversified” investment earnings.
I won’t need the CPP or OAS then either but it will be a nice “offset” to what I am sure will be hideous income taxes to pay for Trudeau’s current profligacy.

#81 Jason Reed on 08.14.22 at 9:48 pm

DELETED (Abusive)

#82 Moose 7612 on 08.14.22 at 9:48 pm

Stay the course. We are on the same team. Let’s do this Garth!

#83 Stealth on 08.14.22 at 9:50 pm

Thanks Garth, good post, tremendous energy and time you and your team put into this blog is well known all over the world, land, sea and sky, not sure about space yet. No need to justify it.

Hope Elgin meeting went as good as it could given the circumstances.

As an idea, would it be possible to have a gathering similar to the one you were doing a decade ago in hotel conference rooms. (Ones by Pearson airport were nice) No sponsorship needed, we can buy tickets.

Thank you

#84 Luvs It on 08.14.22 at 9:54 pm

I for one welcome these periodical posts that allow you to release some steam at the vast majority of oxygen thieves that have come to characterize our real-life Idiocracy times.

Shows you’re human, shows even your infinite patience has limits.

Healthy.

It beggars belief, the abuse you take from truly stupid people lashing out at SOMEONE HELPING THEM. For free.

Better man than I. Let them all sink in their uselessness. But that’s just me.

#85 Island Girl's Dad on 08.14.22 at 10:08 pm

#47 Victor Llearna

Your numbers are totally wrong. No one has ever contributed $3200 per year for 40 years. The first year the CPP program started, 1966, the maximum annual combined contribution of employer and employee was $158.40. It gradually increased over the years at varying amounts. For example, the maximum combined annual contribution in 1970 was $169.20, in 1980 it was $424.80, in 1990 it was $1,148.40, in 2000 it was $2,659.80, in 2010 it was $4,326.30, in 2020 it was $5,796.00. This information is publicly available. If you contributed the maximum amount since inception of the CPP program, with your employer matching, by the end of 2021 there would have been $123,139.20 in combined contributions. This is significantly less than the $256,000 amount you are using. Get your facts correct before you run off about things you obviously know nothing about.

Island Girl’s Dad

#86 Tuco on 08.14.22 at 10:14 pm

I was going to collect at 60. Offered 533. If I had I would have put it in monthly income in a rsp to off set tax. But I decided to wait until 65.5. Now I’m getting 847.00. If you have no saving at 60. Try working to 70 plus same for oaswait to 70. But only if you can’t save. I have read all Garth books
First one well over 20 yrs ago. House paid. And is about 30% of our wealth. Just like you said. And I going to snow bird in Calgary, buying a condo. I want health care. Thank you. You Garth, are my datum. I could never hate that.

#87 Doug t on 08.14.22 at 10:15 pm

#70 sail away

Noooooooo NOT the ” Chamainus Theater ” for the love of Dog noooooo – its like being in a high school auditorium watching a PLAY

#88 Dr V on 08.14.22 at 10:29 pm

Could not get thru the pay wall but this might be worth a read

https://www.theglobeandmail.com/business/article-investors-not-accepting-higher-interest-rates-spells-trouble-for/

#89 Warren Peace on 08.14.22 at 10:33 pm

Yesterday my wife and I went to Port Alberni for a shopping trip..At the Dollar Store I was boxed in by a large woman in an electric mobility scooter as she was eyeballing a bag a chips ..I barely squeezed by and injured my arm by a protruding advertising rack .Being on a daily dose of aspirin I made my way to the medical isle where I purchased a pk of b/aids.Went to a nearby Walmart and upon exiting a pushy middle aged man ran into the back of my foot with his shopping cart while cursing at me. Finally we headed back to Nanaimo where I gave a street person standing near Commercial street some spare cash with nary a thanks…..only on Vancouver Island where condos prices keep going Uppa.

#90 Linda on 08.14.22 at 10:37 pm

Rufus looks pretty frisky for a senior citizen pup:)

Garth, regarding ‘the haters’, seems to their reaction is due to the facts not being what they want them to be. So you get the fallout of their need to blame something or someone else for any real or perceived failure, including choosing to go against the free advice provided on this blog. Think of it as ‘Team Facts’ vs ‘Team Facts be Damned’:)

#91 Sail Away on 08.14.22 at 10:38 pm

#85 Doug t on 08.14.22 at 10:15 pm
#70 sail away

Noooooooo NOT the ” Chamainus Theater ” for the love of Dog noooooo – its like being in a high school auditorium watching a PLAY

———

Agreed. It’s perfect. We go often and always enjoy them.

#92 Rent vs Buy on 08.14.22 at 10:52 pm

Just find a proper, unbiased calculator and end the discussion. This one is pretty good, the conclusion is unequivocal despite the reality that retail investors never hold for 25 years, never achieve benchmark returns, and the advantages of the winning strategy grow dramatically after 25 years.

Cbc.ca/bc/news/bc-120315-vancouver-renting-buying-analysis.pdf

#93 Overheardyou on 08.14.22 at 11:07 pm

I only trust people who walk the walk. Hon. Mr. Turner and his team here are the few that does. For that they deserve much respect for offering priceless wisdom and advice for free.

I am forever grateful for this blog.

#94 the Jaguar on 08.14.22 at 11:09 pm

Hate is a pretty strong word, but no doubt some of the posts and email Garth has received on issues in the past have been even more shocking. He has spared us.

There was a time when one could respectfully disagree with others and the exchange of thoughts and ideas was still welcome. Thoughtful presentation and discourse on another viewpoint. Now the slightest divergence in thinking is a cause for accusation, attack, and name calling. Get with the mob or be called out by them. Some wait in anticipation for their opportunity to attack. It doesn’t go unnoticed.

There is stubornness and wilful blindness and political polarization. All fine and well. It can all be said respectfully. I don’t agree with everything written here, but I respect the efforts of most who post and I’m grateful for the opportunity to read others comments.

Ryan thinks the Fed will take it’s foot off the pedal this fall. I think Powell’s legacy is at stake and he will bring the hammer down. My view is that the train has already left the station. He has the knowledge and financial background while I just have a ‘feeling about it’. No harm, no foul.

#95 Linda on 08.14.22 at 11:16 pm

#47 ‘Victor’ – your issue with CPP ignores reality. Reality is that 32% of Canadians aged 45-64 have nothing saved for retirement. Reality is that most of those who would opt out of CPP would not invest the funds for the future. Keep in mind these are the same people who do not use their RRSP or TFSA contribution room. If someone can’t set aside $6,000 for an annual TFSA contribution, how likely is it that they would suddenly begin to save, let alone invest, $6,400 ($3,200 x 2 for both employee & employer contributions)? How likely is it that they would also invest in a B&D portfolio & achieve an annualized 7% ROI? Reality says: not at all likely. One other reality: if one could opt out of CPP, the funds that would have been paid in becomes taxable income at source. No free lunch, dude.

#96 Dragonslayer on 08.14.22 at 11:21 pm

Keep up the good work, Garth. The fact you’re receiving flak (likely from self interested parties- realtors, developers, etc.) means you’ve struck a nerve and are on the right track.

Great blog and many thanks for the education over the years.

#97 Russ on 08.14.22 at 11:25 pm

#41 Love_The_Cottage on 08.14.22 at 6:44 pm
#53 Love_The_Cottage
#56 yvr_lurker on 08.14.22 at 8:00 pm
#60 yvr_lurker on 08.14.22 at 8:09 pm

yvr_lurker on 08.14.22 at 9:25 pm

#60 yvr_lurker on 08.14.22 at 8:09 pm
We are quibbling over peanuts. If you really need the CPP to this extent, then you have bigger issues to ponder. – Garth
_________
I’ve been coming here a long time and I’ve not once seen Garth admit he was wrong about anything. This is as close as we’re going to get. I’ll take it :-)
——————

Indeed, you have it nailed. Garth provides good general advice, but each circumstance is different and one needs to not defer to the “experts” on every little issue, but should have some sense on how to crunch the numbers for themselves to see what is the truth. For us, it makes zero sense to take CPP at 61 when I am still working and in the 54% marginal bracket.
===============================

I think you guys have figured it out for yourselves.

Garth’s advice is not really meant for the 1% but it’s okay for us to come here and challenge the old Dog once in a while.

Grrr ruff :)

I did a quickie look at taking CPP at 60 but with a marginal tax rate of 50% and all registered accounts fully subscribed, it just didn’t make sense in my circumstance.
The benefit is not like OAS or CERB or some other government handout which can be taken away on a whim. So I thought of it more as a GIC paying 10% from age 60 to 65, the 7% increase and 3.5% tax not paid.

In this regards it is very similar that taking it early in our situation is like a lost opportunity investment portion of a real estate down payment… or am I missing something here?

As for a great quote in a “Bond” movie,
“Does it look like we need the money?”

Cheers. R

#98 Cash is King on 08.14.22 at 11:28 pm

Investors will be fleeing Vancouver and Toronto condos when they realize they can get whole houses for one tenth the price in many American cities. Why own a dog when you can own 10 puppies for the same money?

#99 Terry on 08.14.22 at 11:29 pm

“But what’s harder to understand is why many of those who regret my existence still come here every day.”

This is the best way I can put this……………I come here everyday because you are the ONLY person who tells the truth about what is really happening in Canada. I DO NOT TRUST any other main stream or so called professional outlets to ever tell the truth anymore. They mostly all lie…………and I’ve caught them lying time and time again. You’re a good man Garth. I don’t agree with your social politics but your fiscal and life experience skill sets are dead on accurate. You would be the kind of person I could sit down with and have drinks with discussing every topic in life.

#100 Where's My Money Going Greedeau? Costa Rica Now Stab-Free on 08.14.22 at 11:30 pm

In addition to the IRS hirings we have this:
FBI document leaked! What list are you on? Add this to the news that Trudeau was spying on us through our phones and the takeover has almost completed.

https://www.youtube.com/results?search_query=FBI+document+leakes!+What+list+are+you+on%3F

https://americanmilitarynews.com/2022/08/leaked-fbi-doc-labels-extremist-betsy-ross-flag-2nd-amendment-gadsden-flag-and-more-report/

#101 Where's My Money Going Greedeau? on 08.14.22 at 11:33 pm

This a comment on National Posts story about the International partners criticizing Trudeau about how he handled the Convoy and Trudope’s lies to use the EA.
https://nationalpost.com/news/politics/international-partners-had-concern-about-canadas-ability-to-handle-convoy-protests
Comment and I agree totally:

These are sad times. Here is something to contemplate from John Lydon of the Sexx Pistols:

“I never thought I’d live to see the day when the right wing would become the cool ones giving the middle finger to the establishment , and the left wing would become the sniveling self-righteous twatty ones going around shaming everyone.”

#102 Farmer Brown on 08.15.22 at 12:44 am

Look forward every day to reading your blog.

Haters gonna hate because frankly it’s easier to deal with anger than accept the terrible financial situation many find themselves in. It must be really upsetting to be underwater so quickly after buying a house at a crazy price.

Too bad, so sad.

#103 to the point. on 08.15.22 at 12:59 am

Rufus is never gonna hate. He’s a good boy.

Garth, you’re Ok too.

#104 Large Marge on 08.15.22 at 1:00 am

#87 Warren Peace on 08.14.22 at 10:33 pm

Yesterday my wife and I went to Port Alberni for a shopping trip..At the Dollar Store I was boxed in by a large woman in an electric mobility scooter as she was eyeballing a bag a chips

You should have asked the large woman ….Which came first? The bag of chips or the mobility scooter.

I think we all know…

#105 Karlhungus on 08.15.22 at 1:03 am

Owning is definitely cheaper in Edmonton

#106 Mr. Subtlety on 08.15.22 at 1:09 am

#79 crowdedelevatorfartz on 08.14.22 at 9:42 pm
“We are quibbling over peanuts. If you really need the CPP to this extent, then you have bigger issues to ponder. – Garth”

++++

Respectfully
I agree with yvr lurker.

Why should i put myself in a higher tax bracket now if I don’t need the money now and when I retire I will probably give the CPP and OAS directly back to the govt in taxes anyway due to my future “balanced and diversified” investment earnings.
I won’t need the CPP or OAS then either but it will be a nice “offset” to what I am sure will be hideous income taxes to pay for Trudeau’s current profligacy.

__________________

Because you might just DIE before you thought you would … that’s why. Like I am going to do. And then you will have given every red cent back to T2 and family!

Respectfully… I always knew you weren’t too bright but perhaps you’ve heard of the old adage. “A bird in the hand …” no, CEF… not that bird. Oh, just forget it!

#107 Truth be Told on 08.15.22 at 1:10 am

After browsing through the usual suck up comments whenever you complain about something I see a trend; that is when someone calls you out then you insult them and they become a”hater”… or they get DELETED.

There is no room for a any dissenting opinion on this sales blog if the Great Gartho deigns you a hater then be gone because you are the Greaterfool.

#108 Yukon do it on 08.15.22 at 3:48 am

Every hero needs a villan.

#109 earthboundmisfit on 08.15.22 at 7:03 am

The animosity from the “dweebs” at CREA, Zoocasa, et al, calls to mind a quote attributed to Upton Sinclair circa 1934: “It’s difficult to get a man to understand something when his salary depends on his not understanding”.

#110 Bezengy on 08.15.22 at 7:07 am

Solution?

delete…….anti-vax
delete…….conspiracy nut
delete…….abusive
delete…….whack job
delete…….nobody cares
delete…….troll
delete…….off meds
delete…….on meds (or self-medicating)

—————-

#81 Stealth on 08.14.22 at 9:50 pm

I second that.

#111 the Jaguar on 08.15.22 at 7:15 am

It’s begun. Right on schedule for mid August. Page A8, NP. John Bolton (RP Daily Telegraph). King of the weasels manages to throw both ‘Prez’ under the bus while trying make it look like all magnanimous moves will be initiated by the west. More hubris from the land of exceptionalism.
Johnny’s not a very good chess player.
Yes, I know. Delete button…

#112 crowdedelevatorfartz on 08.15.22 at 8:09 am

@#104 Mr Subtle
“Because you might just DIE before you thought you would … that’s why. Like I am going to do. And then you will have given every red cent back to T2 and family!”

+++
Well.
If I’m dead I cant spend it either.
Nor will I care. I’m dead.
And as for my family.
They shouldnt concern themselves about my CPP contributions either.
They didnt pay into them. I did.
The Will takes care of that.
Or perhaps I should leave it all to the local blogdog shelter.

#113 chalkie on 08.15.22 at 8:17 am

Go get um Garth, the haters are just people of jealously and wannabe’s, people who envy your knowledge and possession in life, people who can’t see the trees forest before the trees. Real estate is still well of the chart and has a long way to drop in price before this storm is over. Take your time sellers, make wise decisions, the buyers of today will be in the regret Colum tomorrow, rent for a year or two, keep your money for a while it won’t burn a hole in your pocket. Home owners should be interviewing at least four or five real estate agents, before they hand over their biggest asset in life, “yet” people call in one agent, lesson to the crock that they offer up on how good they are and hand them over the keys of their full life’s equity savings, shame on those that do that. Just image, that agent, a stranger in most cases is going to take 5% of everything that you own in a flash for most people, something they have worked so hard for over their lifespan, in addition, most agents will overprice your home just to get the listing. How many times have you heard, the market has changed, after your home has been up for sale just a week or two, “yup” overpriced again. When you are home hunting, agents know their neighborhoods, they will drive blocks out of their way, just to keep your eyes away from signs on the lawn like Property Guys, or any real estate company that is selling at discount rates, that’s right, blocks out of their way, you are not supposed to see that sign on the lawn, your agent don’t want to be stuck with a 1% commission or perhaps the risk of you jumping ship on them and they end up with nothing. When listing your home, insist on 3% commission, you will be surprised with what you end up negotiating and saving in the end, agents don’t like it, but so be it, its your money, look after it. 5% real estate commission is highway robbery and the General Public should not stand for it, that agent has next to investment in your property, its all your own hard-earned money.

#114 crowdedelevatorfartz on 08.15.22 at 8:29 am

Rivers are people too.

https://apnews.com/article/religion-sacred-rivers-new-zealand-86d34a78f5fc662ccd554dd7f578d217

Coming to a Liberal Wokester Prime Minister near you.

#115 Steven Rowlandson on 08.15.22 at 8:36 am

““Yeah, we know what this site is all about. Houses bad, stocks good. Garth you are a slimy, self-serving hypocrite.”’

High house prices and rents are bad as it causes genocide by depriving members of my race and others of habitat….
Fighting inflation on the back of the working man and having the necessities of life like a home priced so high that only the high end of income earners can have hearth and home wife and children is wicked and genocidal. Find some where else to invest your money people.

#116 Gravy Train on 08.15.22 at 8:43 am

#61 Nonplused on 08.14.22 at 8:23 pm
Everyone has haters. If you don’t have any haters you aren’t saying anything important. Hold my beer and watch this:

I don’t hate you, Nonplused. I just pity you. And I really pity your idol, Donald Trump.

Windmills and solar panels will never solve our energy problems because they don’t work […]

Since you claim to like facts, here are a few:
• I paid $3,164.04 in energy charges for the year ended Feb. 20, 2019 before I got solar panels for my all-electric house.
• I paid $1,710.97 in energy charges for the year ended Jun. 22, 2022 after I had twenty 400-watt solar panels put on my roof.
• That’s a savings of 46% even after ignoring over three years of inflation in energy costs.
• Nothing I’ve done is illegal, immoral or unethical.

and cause more landfill problems than they solve CO2 problems.

• My solar panels are guaranteed to last 25 years, but will continue to produce electricity well after that. How many washers, dryers and fridges will you have gone through during that time?
• My payback on cost is just 10 years, and my energy payback is just 2 years.

If CO2 is even the problem they say it is, there is no proof, only a correlation.

So, what is your explanation for the rise in global annual average temperatures? (This I want to hear!)

We need nuclear, we don’t have anything else in the pipeline that can come close to replacing fossil fuels.

I’ll concede you may be right on this point. See Bill Gates, How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need, (New York: Alfred A. Knopf, 2021).

(I included this book reference for Dr V, as he seems to have an interest in the subject.)

There, see? That’s how you kick a hornets’ nest. With 100% facts.

“What is freedom of expression? Without the freedom to offend, it ceases to exist.” ― Salman Rushdie

#117 ATED on 08.15.22 at 8:52 am

I believe Garth is correct about house prices. They will continue dropping and may not recover to 2021 prices for years – maybe a decade.

But does this also apply to cottages and other recreational properties? I have always thought – maybe incorrectly – that as “luxury” items cottages would actually decline more than residential housing and take even longer to recover. Thoughts?

#118 Chameleon on 08.15.22 at 9:03 am

#76 Felix

Eliminating photos of dogawful mutts will limit traffic of low IQ types to this blog, reducing the haters by at least 95%.

—-

This blog may claim to be macho, but it doesn’t have the cojones to do a full month of cat photos to see the result. Full month would be the required amount for data capture and for statistical accuracy.

As I’ve argued before, I’d also like to see other animals. Such a data point (anything but dogs for a month) would also benefit.

#119 slick on 08.15.22 at 9:16 am

Last week the CPP reported ‘negative 4.2% return’.
Before all the BS in PC descriptions, this was called ” A LOSS”!!
In May the CPP predicted a 6.8% gain in 2022.
They also are investing based on a ‘NET ZERO’ portfolio by 2050.
Shouldn’t they see whether claimants want these PC investments,
or would they rather have returns that are an improvement over the cat food returns they are getting now.
Nothing to see here.

#120 Tom from Mississauga on 08.15.22 at 9:26 am

A multi year correction? Garth, the real estate market is collapsing at breakneck speed. Only 2 deals on my leafy street since March both fell apart before closing. Agent at my Friday shinny said lawyer he throws deals to has 12 on his desk. This reno and flip a few houses down is having a cricket party.
https://www.realtor.ca/real-estate/24728779/2532-crystalburn-ave-mississauga-cooksville

#121 FxMedRPh on 08.15.22 at 9:37 am

I read your blog everyday. Ok, I came for the dog pictures at the beginning, but soon realized there’s gold in your blog and taken in your advise. Really wish I had found this site sooner! Thank you!

#122 Silent the people on 08.15.22 at 9:54 am

Thank you for all you do!

#123 crowdedelevatorfartz on 08.15.22 at 10:04 am

@#111 The Jaguar
” John Bolton (RP Daily Telegraph). King of the weasels ”
+++
While I’m not fan of Bolton’s Uber conservative policies.
His best comment about working for Trump.
“I was warned by a person that was resigning, on my first day in the White House, that working with Trump was like working with a 10 year old child. They were wrong by 9 years….”

#124 Penny Henny on 08.15.22 at 10:27 am

#54 Love_The_Cottage on 08.14.22 at 7:33 pm

So in my example you’re retiring at 61 and you’re in the top tax bracket in Ontario at over 50% at age 60.

You suggest taking CPP and losing half of it to tax, instead of waiting 1 year and getting 7.2% more per year for the rest of your life and paying less tax?

You’re receiving an increase of 7.2% for the rest of your life at a lower tax rate. Anyone else see the math, or is everything Garth says taken as gospel here?

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

I agree with you. In the described situation your conclusion makes perfect sense. Life is not black or white, same for rules and we’ve all heard the saying ‘exception to the rule’.
Same goes with investing, everyone’s situation is unique.

#125 Dharma Bum on 08.15.22 at 10:48 am

Ahhhhhhhh….haters gonna hate.

Dat’s how dey do.

Ignore them.

Bunch of miserable pricks.

#126 Dr V on 08.15.22 at 12:11 pm

116 Gravy – thank you for the book recommendation

#127 Crystal Ball Futurist on 08.15.22 at 12:52 pm

Sir Garth and gang,

Thanks for all the good work. Your efforts to share the knowledge and wisdom are highly appreciated.

Pl do disregard the 1% haters. 99% of us are your fan club :)

#128 DON on 08.15.22 at 12:56 pm

https://www.scmp.com/business/china-business/article/3188781/fifty-million-empty-flats-threaten-plunge-chinas-troubled

#129 jess on 08.15.22 at 1:00 pm

what is worse is “haters” with guns!

lookback:

Killing for their Country: A New Look at “Killology”

by Robert Engen
http://www.journal.dnd.ca/vo9/no2/16-engen-eng.asp

The adoption of aggressive, military-style tactics and weaponry has put American policing on the wrong track for decades.
By Arthur Rizer

https://www.theatlantic.com/ideas/archive/2022/06/police-training-militarization-mass-shootings-uvalde/661295/
https://theintercept.com/2021/09/20/ndaa-military-equipment-police-1033/

https://theintercept.com/2022/08/12/tallahassee-police-florida-eddie-gallagher-war-crimes/?utm_medium=email&utm_source=The%20Intercept%20Newsletter

#130 Sail Away on 08.15.22 at 1:06 pm

#48 Victor Llearna on 08.14.22 at 7:19 pm

Was running some numbers on the forced CPP contributions that the govt steals every year, From my paycheck its 3200/year and employer also forced to contribute the same. so lets say 6400/year for 40 years $256,000. Just to get the base amount back need to live 20 frigging years. and if you were to invest that $6400 per year on your own at 7% per year you would have around 1.2 million saved. since it only pays out $14000 per year you need to live 80 more years to get $1.2 million back!!!.

———

#85 Island Girl’s Dad on 08.14.22 at 10:08 pm
#47 Victor Llearna

Your numbers are totally wrong. No one has ever contributed $3200 per year for 40 years.

———

Victor’s numbers are completely legit.

CPP is inflation-adjusted, so a good way to predict is in present value, with present-value contribution of $6,400 for 40 years equaling equivalent buying power of $256,000 today.

#131 justinflation on 08.15.22 at 1:28 pm

DELETED (Abusive)

#132 Faron on 08.15.22 at 2:08 pm

#126 Dr V on 08.15.22 at 12:11 pm
#116 Gravy – thank you for the book recommendation

Gravy, your time is much better spent discussing this stuff with Dr V who is a much more fair-minded person. Disagreement, sure, but he shows interest and discernment this warranting open debate.

The Jaguar, it’s not so much that disagreement isn’t welcome any longer as that the more radical elements have abandoned any kind of understanding of agreed upon facts. That behaviour is bad-faith and designed to incite. Philco and Nonplused trot out untruths on the regular. There’s no opportunity for reasonable debate in that instance. For someone like me in the climate field that has been continuously on-point with climate impacts, it’s mighty tiring to deal with someone stuck at a 1970s level of understanding. That’s why I don’t bother responding to Nonplused. Just beating one’s head against a wall to do so.

Dr V, I get frustrated at times, but largely appreciate your good-faith discussions. Thank you. I fully agree that EVs aren’t the solution and that car culture needs to shift. But EVs play a role just as coal to NG plays a role.

#133 andre on 08.15.22 at 2:24 pm

No haters here but only a common sense as Mr. Garth always said that Market is the king it will decide it all.
If renting will be better options then consumers would take it with both hands, they are smart not stupid, as we could guess.
If renting cars is cheaper then everybody is renting it not buying or leasing like ‘stupid’, right?

#134 Island Girl's Dad on 08.15.22 at 2:32 pm

#130 Sail Away
Two things: learn how to look up legitimate and reliable information, and learn how to use a calculator. Then maybe you won’t make such stupid statements like Victor, whose numbers are nowhere near legit.

#135 Brad on 08.15.22 at 9:50 pm

Don’t let the haters get you down Garth. Your a national hero with a heart of gold. You have changed so many lives for the better, and continue to do so every single day. From me and my family, thank you for your hard work!
If the haters ever start to get to you please turn comments off before stopping the blog, and have someone else screen your emails.

#136 Luddite on 08.17.22 at 12:56 am

So good! As always, thank you, thank the team! Tirelessy providing advice, its amazing, daily, funny and free! I do miss some of those assorted funny fail photos from way back though, still use some for backgrounds!