Clippings 2016

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ghariton
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Re: Clippings 2016

Post by ghariton »

BRIAN5000 wrote:Associate with those better than you
Yabbut if we all tried to implement that...

Reminds me of the advice, long ago: "Choose a spouse with fewer mental problems than you have." But what if she's been listening to the same advice?

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Shakespeare
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Re: Clippings 2016

Post by Shakespeare »

Then you get together and play with your mental blocks. :wink:
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kcowan
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Re: Clippings 2016

Post by kcowan »

ghariton wrote:
BRIAN5000 wrote:Associate with those better than you
Yabbut if we all tried to implement that...
I find that the richer people that I associate with got there through their choice of business (and their superior business acumen) and display mediocre investment practices. In fact, without this forum, I would be lost.

I wonder how my experience compares to other members here?
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Shakespeare
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Re: Clippings 2016

Post by Shakespeare »

You concentrate to get rich, but diversify to stay rich.

For most of us, saving/investing will get you comfortable, but not rich.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
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Re: Clippings 2016

Post by j831robert »

What's "rich"?. I'm certainly not the sharpest knife in this drawer but have followed this forum on an almost daily basis for a lot of years and gleaned some excellent advice here along the way which has placed me (us) in a "nice to have" situation when we pay our quarterly Federal 'pound of flesh' (clawback). Sort of a 'don't leave home without it' and wouid probably be amongst the 'getter's' rather than the "givers" without this forum and it's predecessor. Thanks guys n' gals.
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ghariton
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Re: Clippings 2016

Post by ghariton »

j831robert wrote:What's "rich"?.
"Rich" is anyone who has (or earns) 50 per cent more than me.
without this forum and it's predecessor. Thanks guys n' gals.
That's my situation too. I learned from the posters on this and the predecessor forum. Transformed me from a speculator into an investor.

I've tried to give back a bit of what I received in terms of financial savvy. Still have a long ways to go.

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kcowan
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Re: Clippings 2016

Post by kcowan »

Cut the crap George. You have it "made in the shade"! :rofl:
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Re: Clippings 2016

Post by gobsmack »

SBS Dateline (Aussie TV show) recently aired an episode covering foreign money in the Vancouver real estate market:



However, I think it failed to answer an interesting question. Unlike Canada, Australia is actively trying to control/regulate foreign money coming into their real estate market. It does not seem to be working though:

http://www.abc.net.au/4corners/stories/ ... 327525.htm
http://www.abc.net.au/4corners/stories/ ... 451883.htm

So much for that. I reckon it is not likely it would work here either.

I thought it was interesting to hear a different perspective on this topic.
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patriot1
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Re: Clippings 2016

Post by patriot1 »

gobsmack wrote:Unlike Canada, Australia is actively trying to control/regulate foreign money coming into their real estate market.
Australia directs foreign RE investment into new development or redevelopment, but sets no limits on the amount of it. Ostensibly this is supposed to increase supply, but Australia's RE prices are much higher on average than Canada's.

Chinese Investment in Australian Real Estate Doubles
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Re: Clippings 2016

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patriot1 wrote: Australia directs foreign RE investment into new development or redevelopment, but sets no limits on the amount of it.
Yes, this doesn't seem to be a good way to stop Foreign Investment. Seems to me that the new owners don't like used things and tear down 10-15 year young homes regularly.
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CROCKD
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Re: Clippings 2016

Post by CROCKD »

squid wrote:new owners don't like used things and tear down 10-15 year young homes regularly.
So how do you get the 10+ year old home to tear down if you are not allowed to buy it in the first place?
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Re: Clippings 2016

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CROCKD wrote:So how do you get the 10+ year old home to tear down if you are not allowed to buy it in the first place?
If there's a market for new houses, locals will buy old ones, tear them down, and build new houses and sell them. Happens in every Canadian big city.
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Re: Clippings 2016

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In his latest episode of Last Week Tonight, host John Oliver waded through all the confusing, infuriating intricacies of the financial advisor industry in the U.S. While firms like to paint their advisors as cuddly caretakers of your riches.
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
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Re: Clippings 2016

Post by Insomniac »

BRIAN5000 wrote:

In his latest episode of Last Week Tonight, host John Oliver waded through all the confusing, infuriating intricacies of the financial advisor industry in the U.S. While firms like to paint their advisors as cuddly caretakers of your riches.
I posted that in the humour thread as I didn't know where it should go. It is good.

http://www.financialwisdomforum.org/for ... 75#p577928
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Koogie
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Re: Clippings 2016

Post by Koogie »

Interesting piece in last weeks Economist about Vanguard.

Index we trust
http://www.economist.com/news/finance-a ... p-index-we

Mostly a general synopsis of its' history and structure but some of the statistics about its current inflows and clout were very interesting:
"One dollar in every five invested in mutual or exchange-traded funds (ETFs) in America now goes to Vanguard, as does one in every two invested in passive, index-tracking funds, according to Morningstar, a data provider."
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Re: Clippings 2016

Post by skepticus »

Banks are not your friend (to paraphrase the inestimable ghariton). Tom Bradley, CEO OF Steadyhand mutual funds tears a strip off our national institutions for squeezing us so hard.

https://www.steadyhand.com/industry/201 ... some_more/

Anybody here think otherwise?
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Re: Clippings 2016

Post by SkaSka »

Folks, it is not advisable to pay the "CRA" in iTunes gift cards through Snapchat...

I mean... I felt a slight amount of sympathy that this person was new to Canada, but... who in their right mind thinks that the tax authority of a country is going to take payment in iTunes gift cards through Snapchat!?!?!

Stupid, stupid, stupid... can't get dumber than this.
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Re: Clippings 2016

Post by Shakespeare »

can't get dumber than this.
Betcha it can. Just check Darwin nominees....
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
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newguy
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Re: Clippings 2016

Post by newguy »

SkaSka wrote:Folks, it is not advisable to pay the "CRA" in iTunes gift cards through Snapchat...

I mean... I felt a slight amount of sympathy that this person was new to Canada, but... who in their right mind thinks that the tax authority of a country is going to take payment in iTunes gift cards through Snapchat!?!?!

Stupid, stupid, stupid... can't get dumber than this.
I dunno, how about calling people stupid who haven't had a chance to learn. I realize we're all better than those other people, but I draw the line at calling them names because I've lived a life of privilege.

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Re: Clippings 2016

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newguy wrote:
SkaSka wrote:Folks, it is not advisable to pay the "CRA" in iTunes gift cards through Snapchat...

I mean... I felt a slight amount of sympathy that this person was new to Canada, but... who in their right mind thinks that the tax authority of a country is going to take payment in iTunes gift cards through Snapchat!?!?!

Stupid, stupid, stupid... can't get dumber than this.
I dunno, how about calling people stupid who haven't had a chance to learn. I realize we're all better than those other people, but I draw the line at calling them names because I've lived a life of privilege.

newguy
I hear what you're saying, however, I just can't fathom how someone could honestly believe that the tax agency of a national government would demand tax payments in Apple gift cards through Snapchat.
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ghariton
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Re: Clippings 2016

Post by ghariton »

Bank of Canada downgrades growth in Canadian economy
The Bank of Canada cut its growth forecast for 2016 but held rates steady on Wednesday, saying exports continued to disappoint and acknowledging it may have underestimated structural challenges facing businesses.

In explaining its decision to leave interest rates unchanged even as it cut its expectations for Canadian and global growth, the central bank reiterated warnings about possible speculation in the housing markets in Toronto and Vancouver.
Diversification is more important than ever.

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BRIAN5000
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Re: Clippings 2016

Post by BRIAN5000 »

As tweeted by Norm

http://www.usatoday.com/story/money/col ... /86877234/

New retiree withdrawal rate: Goodbye 4%, hello age divided by 20
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Spudd
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Re: Clippings 2016

Post by Spudd »

I read that after Norm tweeted it, and it seems ridiculously conservative to me. OK, if you retire at 40 then you get a 2% withdrawal rate, that seems reasonable enough. But for a 70-year old to have a 3.5% withdrawal rate is just crazy conservative. An 80-year old gets a 4% withdrawal rate?

At least their heirs will be happy.
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Re: Clippings 2016

Post by longinvest »

To tell the truth, I much prefer our Finiki's Variable Percentage Withdrawal (VPW). It is almost as simple as age divided by 20, but way more reasonable.
Variable Percentage Withdrawal (finiki.org/wiki/VPW) | One-Fund Portfolio (VBAL in all accounts)
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Re: Clippings 2016

Post by NormR »

longinvest wrote:To tell the truth, I much prefer our Finiki's Variable Percentage Withdrawal (VPW). It is almost as simple as age divided by 20, but way more reasonable.
I think most people here are capable of understanding more complicated - and likely more accurate - methods. :)

Btw, I got the article from Moshe A. Milevsky's twitter. So, follow both @RetirementQuant and @NormanRothery and pay attention to Prof Milevsky's objections.
Last edited by NormR on 13 Aug 2016 13:24, edited 1 time in total.
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