Prime Minister Trudeau

[02sled]

1 hour ago, ICEMAN! said:

Well the Finance Dept's report is where the fact that baby boomers will be a drain on the economy is mentioned.  Trudeau didn't write the report stupid.

I'm sure you're right though, they're all idiots and you're a genius, plus you have a friend that bought a bought, so everything will be fine.

Years of surpluses....lmao.  Harper Voodoonomics

Why is it that Trump's 1 trillion infrastructure plan has everyone excited?  Trump's infrastructure spending makes him a genius but Trudeau's spending makes him an idiot.

Mmmkay

Your living proof you just can't fix stupid. A federal government department creates a report and their forecasts couldn't possibly be off. Just look at what Wynnebag and the Ontario Libturds have done with hydro. You remember that report the province put out about hydro costs.... it will cost you JUST A LITTLE BIT MORE NOW but will save you in the long run.

Keep drinking the Truedope propaganda KoolAid.

[ArcticCrusher]

1 hour ago, ICEMAN! said:

 

Years of surpluses....lmao.  Harper Voodoonomics

Why is it that Trump's 1 trillion infrastructure plan has everyone excited?  Trump's infrastructure spending makes him a genius but Trudeau's spending makes him an idiot.

Mmmkay

Yet you cheered Obama's doubling of the debt for a pathetic 20% GDP growth.

What is Trudeau's infrastructure spending supposed to add to our GDP?  0.1% per year.  So years of deficits and increasing our debt to GDP level for what?   

[02sled]

44 minutes ago, ICEMAN! said:

Yea sure

Canadian Foreign-Aid Spending So Low It’s A ‘Potential Tragedy’: Report

http://m.huffpost.com/ca/entry/14150162

It's not foreign aid for poverty dumb ass. Were you asleep when Truedope was giving away $B's, not $M's but $B's to third world countries to combat climate change. Then he trots around the globe with total disregard for his carbon footprint he is so concerned about.

[revkevsdi]

16 hours ago, 02sled said:

Only an absolute fool is getting 2% on their investments. Most of mine are double digit returns and the rest are close. That M$ house can give them a reverse mortgage that would yield $600k to spend 

The double digit returns are ok when you are young enough to recover from crashes. Not so great for someone who is old and needs security.

600k to spend over how many years? What happens if the the stock market and housing market crashes? Suddenly an older person has a mortgage on a property with a reduced value and less revenue from the stock market. 

5 hours ago, ArcticCrusher said:

You will be left with less than 1% after taxes.  Even at 4% you would be left with less than 2% net, only a friggin moron would be treading water with inflation or take any advice to suggest it.

That was my point, many people have a lot of equity in their homes.  It takes a special type of Libtard to work his whole life and have nothing.  It that what Intellectual Elites are all about?

The equity in the home doesn't help you very much. When are people going to start drawing on it? At 65? Maybe at 85 it works out ok for survival but not for a great standard of living that will push the economy. It definitely won't be enough to generate the taxes needed to cover the healthcare costs of a large cohort of seniors.

4 hours ago, ICEMAN! said:

The source was a study done by PriceWaterhouseCoopers, but wtf do they know?  They aren't good with numbers or anything compared to you right?  I mean, you've got a buddy who bought a boat!

Accountants don't mean shit. These guys spend all day on chat sites. They know stuff. Good stuff smart stuff. They have friends who say things.

[revkevsdi]

22 minutes ago, ArcticCrusher said:

Yet you cheered Obama's doubling of the debt for a pathetic 20% GDP growth.

What is Trudeau's infrastructure spending supposed to add to our GDP?  0.1% per year.  So years of deficits and increasing our debt to GDP level for what?   

20% GDP growth? Are you sure? Donald said GDP was 0.

[02sled]

6 minutes ago, revkevsdi said:

The double digit returns are ok when you are young enough to recover from crashes. Not so great for someone who is old and needs security.

600k to spend over how many years? What happens if the the stock market and housing market crashes? Suddenly an older person has a mortgage on a property with a reduced value and less revenue from the stock market. 

The equity in the home doesn't help you very much. When are people going to start drawing on it? At 65? Maybe at 85 it works out ok for survival but not for a great standard of living that will push the economy. It definitely won't be enough to generate the taxes needed to cover the healthcare costs of a large cohort of seniors.

Accountants don't mean shit. These guys spend all day on chat sites. They know stuff. Good stuff smart stuff. They have friends who say things.

Boy you really aren't familiar with economics or finance are you. 

I'm retired and my portfolio isn't high risk. I can't afford to lose it. Some are earning low double digit and some high single digit %'s. I have had periodic fluctuations but year over year no capital losses, only gains. 

$600K from a REVERSE mortgage to spend is over as many years of your retirement as you choose. Some start as early as age 60.

You obviously don't understand REVERSE mortgage. .

Instead of making monthly payments to a lender, a lender makes payments to you, based on a percentage of the value in your home. You choose whether the cash is paid as a single lump sum, a regular monthly cash advance, a line of credit (where you decide when and how much to borrow), or a combination of these methods.

Throughout the life of the reverse mortgage, you keep title to your home.

When you move, sell the home or pass away, the lender sells the home to recover the money that was paid out to you. After lender fees are paid, any equity left in the home goes to you or your heirs. If you receive more payments than your home is worth (if you “outlive” the loan), you will never owe more than the value of the home.

The end result is that on a $1M home you get a reverse mortgage that yields $600K to $650K. Your staying in your home until you're gone. If you choose the option of receiving a lump sum payment of $600K, your REVERSE mortgage is calculating interest at a low interest rate (2% - 3%)  while you invest the $600K at a much higher rate (7% - 8%) so you come out even further ahead and draw on that money as needed.

You referenced when do you collect on that $600K... no I wouldn't wait until 85. That's my life expectancy, I would likely be dead by then. I anticipate doing it around age 70. The equity in the home can help a lot.

Think of it this way. You have a monthly pension coming in. One for you and one for your wife. Then you both collect CPP starting at 60 or 65, your choice. You have $1M in RRSP, TFSA and other investments. You now add $600K to that portfolio and now have $1.6M to live off as well as your pension and CPP (2017 max CPP is $1117 per month for each of you and your wife). Simple interest, not even compounded which is typically the case. $1.6M in investments at simple 7% yields $112K a year in earnings that you can spend without ever having to touch the principal.

When they open up the will it's going to say being of sound mind and body I spent all of my money before I went and had a hell of a good time doing it.

As for accountants... a good one will find you ways to keep more of your money in your pocket rather than handing it over to Truedope and Wynnebag to piss away.

 

[ArcticCrusher]

50 minutes ago, revkevsdi said:

The double digit returns are ok when you are young enough to recover from crashes. Not so great for someone who is old and needs security.

600k to spend over how many years? What happens if the the stock market and housing market crashes? Suddenly an older person has a mortgage on a property with a reduced value and less revenue from the stock market. 

The equity in the home doesn't help you very much. When are people going to start drawing on it? At 65? Maybe at 85 it works out ok for survival but not for a great standard of living that will push the economy. It definitely won't be enough to generate the taxes needed to cover the healthcare costs of a large cohort of seniors.

Accountants don't mean shit. These guys spend all day on chat sites. They know stuff. Good stuff smart stuff. They have friends who say things.

Stop being so friggin negative.  If you invested wisely you won't deplete your retirement savings and they should continue to outgrow what is pulled out of them.  If not then you are not doing it right.

I used the equity in a home to counter ICE's stupid data to gauge and show most peoples net worth is much higher.  You can always sell and rent if you require those funds in retirement.   I do not know of anyone who is in the block represented by the first to thresholds.  Is that the Liberal norm?

[revkevsdi]

7 hours ago, 02sled said:

Boy you really aren't familiar with economics or finance are you. 

I'm retired and my portfolio isn't high risk. I can't afford to lose it. Some are earning low double digit and some high single digit %'s. I have had periodic fluctuations but year over year no capital losses, only gains. 

$600K from a REVERSE mortgage to spend is over as many years of your retirement as you choose. Some start as early as age 60.

You obviously don't understand REVERSE mortgage. .

Instead of making monthly payments to a lender, a lender makes payments to you, based on a percentage of the value in your home. You choose whether the cash is paid as a single lump sum, a regular monthly cash advance, a line of credit (where you decide when and how much to borrow), or a combination of these methods.

Throughout the life of the reverse mortgage, you keep title to your home.

When you move, sell the home or pass away, the lender sells the home to recover the money that was paid out to you. After lender fees are paid, any equity left in the home goes to you or your heirs. If you receive more payments than your home is worth (if you “outlive” the loan), you will never owe more than the value of the home.

The end result is that on a $1M home you get a reverse mortgage that yields $600K to $650K. Your staying in your home until you're gone. If you choose the option of receiving a lump sum payment of $600K, your REVERSE mortgage is calculating interest at a low interest rate (2% - 3%)  while you invest the $600K at a much higher rate (7% - 8%) so you come out even further ahead and draw on that money as needed.

You referenced when do you collect on that $600K... no I wouldn't wait until 85. That's my life expectancy, I would likely be dead by then. I anticipate doing it around age 70. The equity in the home can help a lot.

Think of it this way. You have a monthly pension coming in. One for you and one for your wife. Then you both collect CPP starting at 60 or 65, your choice. You have $1M in RRSP, TFSA and other investments. You now add $600K to that portfolio and now have $1.6M to live off as well as your pension and CPP (2017 max CPP is $1117 per month for each of you and your wife). Simple interest, not even compounded which is typically the case. $1.6M in investments at simple 7% yields $112K a year in earnings that you can spend without ever having to touch the principal.

When they open up the will it's going to say being of sound mind and body I spent all of my money before I went and had a hell of a good time doing it.

As for accountants... a good one will find you ways to keep more of your money in your pocket rather than handing it over to Truedope and Wynnebag to piss away.

 

If you live to 60, you will have 25 years left. That $600,000.00 isn't all that great. It you live another 10 years, you aren't going to have much fun.

7 hours ago, ArcticCrusher said:

Stop being so friggin negative.  If you invested wisely you won't deplete your retirement savings and they should continue to outgrow what is pulled out of them.  If not then you are not doing it right.

I used the equity in a home to counter ICE's stupid data to gauge and show most peoples net worth is much higher.  You can always sell and rent if you require those funds in retirement.   I do not know of anyone who is in the block represented by the first to thresholds.  Is that the Liberal norm?

Good luck to you both.

Selling your house when the largest cohort is also selling theirs to a far younger generation who have no fucking money will work out great.

[02sled]

1 hour ago, revkevsdi said:

If you live to 60, you will have 25 years left. That $600,000.00 isn't all that great. It you live another 10 years, you aren't going to have much fun.

Good luck to you both.

Selling your house when the largest cohort is also selling theirs to a far younger generation who have no fucking money will work out great.

You are missing the concept. The $600k is SUPPLEMENTAL to your pension, RRSP, TFSA and personal investments. All of that investment earns a healthy ROI allowing you to live off the pension and the ROI touching none or little of the principal. As for selling the house. I wouldn't be. You missed the understanding of that as well. I retain title and the reverse mortgage gives me significant money. I stay in the house until I sell or die. If I was selling now, the average time on the market here is less than a week and bidding wars are seeing sales about $150K above asking. 

[revkevsdi]

45 minutes ago, 02sled said:

You are missing the concept. The $600k is SUPPLEMENTAL to your pension, RRSP, TFSA and personal investments. All of that investment earns a healthy ROI allowing you to live off the pension and the ROI touching none or little of the principal. As for selling the house. I wouldn't be. You missed the understanding of that as well. I retain title and the reverse mortgage gives me significant money. I stay in the house until I sell or die. If I was selling now, the average time on the market here is less than a week and bidding wars are seeing sales about $150K above asking. 

I know. That's not a bubble though. That doesn't resemble a bubble in the least. Don't worry houses never go down in price.

Why don't you think back a little on how the economy has fucked with boomers. Remember when interest rate went through the roof around the time most boomers had a lot of housing debt? Remember house those interest rates now suck because they have some cash and would like safe investments? Think about that when they go to sell their house or start cashing in their RRSP's. 

 

[02sled]

22 minutes ago, revkevsdi said:

I know. That's not a bubble though. That doesn't resemble a bubble in the least. Don't worry houses never go down in price.

Why don't you think back a little on how the economy has fucked with boomers. Remember when interest rate went through the roof around the time most boomers had a lot of housing debt? Remember house those interest rates now suck because they have some cash and would like safe investments? Think about that when they go to sell their house or start cashing in their RRSP's. 

 

The boomers are already there. The boomers began 1945/46. Many are retired at 60 which would be 2005/06. Those that wait to 65 2010/11. Don't forget every report out there is quick to point out they are the most affluent retirees in history. Most had 25 year fixed rate mortgages and were able to realize as high as 20% ROI during 70's and longer.

Edited February 16, 2017 by 02sled

[ArcticCrusher]

9 hours ago, revkevsdi said:

If you live to 60, you will have 25 years left. That $600,000.00 isn't all that great. It you live another 10 years, you aren't going to have much fun.

Good luck to you both.

Selling your house when the largest cohort is also selling theirs to a far younger generation who have no fucking money will work out great.

Fuck are you really this inept.  The 600K is more than most people's CV for their pensions.  Even the teachers plan, likely the best around averages about a 12% return for it members, it needs to in order to stay afloat.

I won't be selling my home, my kid will be inheriting it along with a few others.  The GTA has been in a bubble for over 10 years now and there is still a huge shortage of inventory.  The low interest rates have kept it going and they won't really change anytime soon.  The so called experts have completely missed the boat on this and for you to think your home does not factor into your net worth is really telling.

[ArcticCrusher]

7 hours ago, revkevsdi said:

I know. That's not a bubble though. That doesn't resemble a bubble in the least. Don't worry houses never go down in price.

Why don't you think back a little on how the economy has fucked with boomers. Remember when interest rate went through the roof around the time most boomers had a lot of housing debt? Remember house those interest rates now suck because they have some cash and would like safe investments? Think about that when they go to sell their house or start cashing in their RRSP's. 

 

Any yet the boomers recovered just fine.

If interest rates were to go back up, it would crash the market, but I don't see that happening with the debt levels people are carrying.  Then again, it  might happen now that we have another Tuedope as PM.    You might have forgotten forget that it took 10 years for the housing to stabilize in the late 80's til about 97 when prices finally reversed back upwards.  There were many who though the idea of flipping real estate before ever closing was a brilliant one.  One persons pain is another persons gain.

Even with the current real estate market today, people are still wiser to investment in the markets over the longer term as its easier to get out and the returns from real estate are about the status quo obtained in the markets with less headaches.   Or at least be diversified. 

[revkevsdi]

40 minutes ago, ArcticCrusher said:

Any yet the boomers recovered just fine.

If interest rates were to go back up, it would crash the market, but I don't see that happening with the debt levels people are carrying.  Then again, it  might happen now that we have another Tuedope as PM.    You might have forgotten forget that it took 10 years for the housing to stabilize in the late 80's til about 97 when prices finally reversed back upwards.  There were many who though the idea of flipping real estate before ever closing was a brilliant one.  One persons pain is another persons gain.

Even with the current real estate market today, people are still wiser to investment in the markets over the longer term as its easier to get out and the returns from real estate are about the status quo obtained in the markets with less headaches.   Or at least be diversified. 

That is how it worked out so far. With the Government loaning money to the bank a 0% and printing money. If that hadn't happened things would be very different. Funny that you've benefitted from something you've whined about on here. Adding to the Federal debt.

Edited February 16, 2017 by revkevsdi

[ArcticCrusher]

36 minutes ago, revkevsdi said:

That is how it worked out so far. With the Government loaning money to the bank a 0% and printing money. If that hadn't happened things would be very different. Funny that you've benefitted from something you've whined about on here. Adding to the Federal debt.

I don't have an issue borrowing to soften the blow from a grave recession.  I do have one when we are spending like drunken sailors and getting nothing out of it.  You seem to be worried about our kids not being able to purchase homes but not in regards to leaving them with our pile of shit.  

Live within your means.  Why can't Tards understand this?

 

[02sled]

7 minutes ago, ArcticCrusher said:

I don't have an issue borrowing to soften the blow from a grave recession.  I do have one when we are spending like drunken sailors and getting nothing out of it.  You seem to be worried about our kids not being able to purchase homes but not in regards to leaving them with our pile of shit.  

Live within your means.  Why can't Tards understand this?

 

They think they living within their means. They believe that as long as they can make the monthly payments even if there isn't any money left at the end of the month or they can get to the next week with a pay day loan all is good. You have to love it when people borrow money to make the payment on money they already owe

[revkevsdi]

9 hours ago, ArcticCrusher said:

I don't have an issue borrowing to soften the blow from a grave recession.  I do have one when we are spending like drunken sailors and getting nothing out of it.  You seem to be worried about our kids not being able to purchase homes but not in regards to leaving them with our pile of shit.  

Live within your means.  Why can't Tards understand this?

 

You don't seem to understand. If the kids can't afford the homes, the boomers won't be able to sell them for these overpriced values.

But hey, don't worry about it. When have house prices ever taken a dive? 

[ArcticCrusher]

12 hours ago, revkevsdi said:

You don't seem to understand. If the kids can't afford the homes, the boomers won't be able to sell them for these overpriced values.

But hey, don't worry about it. When have house prices ever taken a dive? 

Oh no's, Oh no's.

Heavens to murgatroyd.

[02sled]

12 hours ago, revkevsdi said:

You don't seem to understand. If the kids can't afford the homes, the boomers won't be able to sell them for these overpriced values.

But hey, don't worry about it. When have house prices ever taken a dive? 

No shortage of buyers yet. Every day when the mail comes there's stuff from realtors saying they have buyers and do we want to sell. Then there's the ones that call asking if we are interested in selling. Every house in our area is selling for more than asking in a week max. Some have sold in a day. It seems pretty common for the GTA. Supply and demand at work.

Panic everyone the end of the world is near. 

[ArcticCrusher]

1 hour ago, 02sled said:

No shortage of buyers yet. Every day when the mail comes there's stuff from realtors saying they have buyers and do we want to sell. Then there's the ones that call asking if we are interested in selling. Every house in our area is selling for more than asking in a week max. Some have sold in a day. It seems pretty common for the GTA. Supply and demand at work.

Panic everyone the end of the world is near. 

I am pretty sure if inflation goes back up to 6% early nineties or 12% seventies, the housing market will be in a real bind and come crashing hard.  However that is not going to happen anytime soon.

Someone might want to inform Rev that if inflation goes back to 10%, he won't be winning regardless of what he does.

[02sled]

2 hours ago, ArcticCrusher said:

I am pretty sure if inflation goes back up to 6% early nineties or 12% seventies, the housing market will be in a real bind and come crashing hard.  However that is not going to happen anytime soon.

Someone might want to inform Rev that if inflation goes back to 10%, he won't be winning regardless of what he does.

I agree.

More than 700,000 Canadian borrowers could be facing payment shock on their debt obligations if interest rates rise by a quarter point, and that rises to as many as one million people should rates go up by 1 per cent, says a study by credit monitoring firm TransUnion.

http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/canadian-borrowers-could-face-payment-shock-if-interest-rates-rise/article31838268/

As I suggested before the current generation seem to be content with maxing out their credit and as long as they are able to make the minimum monthly payments. Even if they don't have any cash left over at the end of the month they have convinced themselves that things are fine.

My nephew is 23. Unlike his friends who are living pay cheque to pay cheque buying everything they feel they want he is accumulating a good deal of net worth in RRSP, and TFSA. They razz him for things like not getting the latest greatest smart phone each time something new comes out, driving a modest car, etc.

We haven't any worries about his future.

Meanwhile I would love to see double digit interest rates as the norm. Interest rates however as you said are not about to change any time soon.

[sledderj]

 

Interest rate policy is pretty dicey these days with the wildcard in power in the US right now.  I wouldn't wager on what they will be doing either way at this point.  The takeaway in my books is to be very careful on what debt you take on.  Forces outside of Canada, in which we have zero control over, could have a profound effect on what happens here.  

The numbers being generated out of the GTA and BC housing markets do not compute, at least in the traditional sense of young couples starting out and financing houses entirely on their own.  Bump rates up even to the levels when I bought my first house and there would be pandemonium.  Remove the economic activity currently being created by the Ontario real estate market and it would not bode well.  The stat I read was over half the growth in Ontario's GDP is attributed to real estate.  How does one afford such crazy increases when there is no growth to support it?

 

 

[Dave]

1 hour ago, sledderj said:

 

Interest rate policy is pretty dicey these days with the wildcard in power in the US right now.  I wouldn't wager on what they will be doing either way at this point.  The takeaway in my books is to be very careful on what debt you take on.  Forces outside of Canada, in which we have zero control over, could have a profound effect on what happens here.  

The numbers being generated out of the GTA and BC housing markets do not compute, at least in the traditional sense of young couples starting out and financing houses entirely on their own.  Bump rates up even to the levels when I bought my first house and there would be pandemonium.  Remove the economic activity currently being created by the Ontario real estate market and it would not bode well.  The stat I read was over half the growth in Ontario's GDP is attributed to real estate.  How does one afford such crazy increases when there is no growth to support it?

 

 

Everyones a career politician.... Or an overpaid ceo......thats how. 

[snopro31]

At least this is the first full time job JT has had.

 

He can now apply for EI when he loses his job in the next election.

[ArcticCrusher]

8 hours ago, snopro31 said:

At least this is the first full time job JT has had.

 

He can now apply for EI when he loses his job in the next election.

Supposed to be a full time job.   He is the laziest PM to date thus far.