gdp's Comments

MoneySense : Is it time to break your mortgage?

Thu, 12 Apr 2012 14:44:50 +0000

Exactly Shayne. BTW, here is one example I know of recently when an aquaintance wanted to check into breaking his mortgage. He had two years to go on a 5 year fix rate 5.79% that also had the bad idea of a cash back when he took it. To break it in favour of the 4 yr 2.99% mortgage, his penalty was $4400 of which $1400 was due to the cash back feature. I just wish to state, the bank is no friend when they suggest you get the cash back option just so you can finance your wants like new furniture for the house one is buying. It is such a bad financial idea. If my friend had shipped the cash back when he took out the mortgage($85,000) in 2009, he would have got 4.55% as the rate. Ripped off totally by a stupid decision. That's the price one pays for financial illiteracy.

MoneySense : March 2 roundup

Sun, 4 Mar 2012 17:21:24 +0000

Regarding MacDonald's article naysaying a housing bubble, here is another article in MacLeans saying the exact opposite http://www2.macleans.ca/category/business/ Who to believe? I put my money on MacLeans

MoneySense : How to tap your RRSP

Wed, 22 Feb 2012 22:03:31 +0000

I meant to come back earlier to comment after realizing the article was written in 2010. My bad.

MoneySense : How to tap your RRSP

Sun, 19 Feb 2012 19:53:31 +0000

The article stated: "The next is when your income reaches $67,700, because that’s when Old Age Security begins to be clawed back." At least the author should get their numbers correct, for the tax year 2011, the clawback only begins once your income exceeds $69,562.

MoneySense : OAS for immigrants

Sun, 12 Feb 2012 01:59:31 +0000

So what does an immigrant who is brought in under the 'family unification program, who is, let's say, a parent, who is brought in at 55 and then can get the OAS after a mere 10 years, how much of the OAS pie does he/she get, 25%?

MoneySense : How much should you invest in your RRSP?

Sat, 14 Jan 2012 00:03:42 +0000

"...an average return of 5% over the long-term." That is a mirage, can't count on it in these uncertain times. Also, those in the lowest tax bracket should forget about RRSP's.

MoneySense : Saving money vs. everything else

Tue, 10 Jan 2012 02:47:47 +0000

Bah, preach all you want but most people are materialistic money morons.

MoneySense : The downside of equality

Mon, 31 Jan 2011 23:12:08 +0000

So women are bad drivers afterall. I been saying that for years. Women can't drive. Bad enough we gave them the vote. (heh, just funning with you)

MoneySense : When is the best time to start taking CPP?

Thu, 27 Jan 2011 02:56:12 +0000

@ Bill Correction to typo, CPP will be $2/month less Dec 2011 as compared to Dec 2010.

MoneySense : When is the best time to start taking CPP?

Wed, 26 Jan 2011 21:34:12 +0000

@ Bill To answer your question "if you do not work, when is it to your advantage to take CPP." I had been following the amount I would get since I turned 60 and every month(I have a account with Service Canada and can get my monthly CPP estimate anytime on line), so every month, I noted that the monthly payment increased as planned as the discount lessened with time. When I decided to reconsider my decision to wait until 65 to start collecting, it was then during the phone conservation with Service Canada, that I realized I luckily timed my request for collecting just right. I concluded the decrease in my average pensional earnings due after 6 years crossed some line, the max pensionable earnings which is about $46,000 now. During almost all my working career, my actual earnings were well about the pensionable earnings for each year.

MoneySense : When is the best time to start taking CPP?

Wed, 26 Jan 2011 21:24:08 +0000

@ Gary: Actually it is a rather good plan. My lifetime contribution of 31 years was only about $22,500 with the employer contributing an equal amount. So for a total contribution of $45,000, I get a CPP of $705/month so in less than 5.5 years, the total original contribution is regained. Actually does not seem sustainable to me in the long run.

MoneySense : When is the best time to start taking CPP?

Wed, 26 Jan 2011 21:18:06 +0000

@ Bill Well the Service Centre person did tell me that my CPP would be $2 less a year from Dec 2011 and when I argued with her saying that does not make any sense(to no avail), I was not going to take any chances. Besides, I was seriously thinking of changing my mind about waiting to 65 to start collecting and that was the incident that spurred me on. I believe what is happening is that the decrease in the discount was over whelmed by the drop in my average earnings after another year of no pensionable earnings. Anyway, I am ok and calm about thedecision, in fact I just got a letter of confirmation today stating that I am approved.

Macleans.ca : Heritage Minister orders agency to screen documentary on Iran

Thu, 20 Jan 2011 03:30:27 +0000

The official that cancelled the screening initially is a quivering coward

MoneySense : When is the best time to start taking CPP?

Wed, 19 Jan 2011 00:57:32 +0000

I just learned something about the CPP. I retired at 56, I chose not to start my CPP at 60 and now I am soon to be 62. I was under the mistaken belief that each year I delayed taking the CPP would reduce the discount by 6%/year. That was ok until recently. When I called to get my Dec 2010 estimate, I was told $705/month. When I asked what would it be Dec 2011 and was told it would be a bit less at $703. What was starting to happen is that my average earnings dropped below the max as time without employment lengthened. So I applied immediately to avoid this reduction. It makes no sense, that policy encourages early taking of the CPP, if the average earnings did not drop and the discount kept getting smaller as one approaches 65, then more people would wait betting that they will live long but the government gains if you die before 75. Since my CPP will start shrinking, it would be insane of me to wait any longer.

Macleans.ca : British anti-Islamists coming to Canada

Fri, 7 Jan 2011 03:30:26 +0000

But but but did not Bush say Islam is the religion of peace? What a joke. The PC dogs still spout this nonsense.

Macleans.ca : British anti-Islamists coming to Canada

Fri, 7 Jan 2011 03:27:32 +0000

@ Muslim Observer Please spare us from your BS. A secular leaning governor in Pakistan was murdered. A bunch of so called moderate Muslim scholars in England defended his murder. Give me a break!! That is just one of many examples of how Islam has been hijacked by the violent intolerant jihaidists. Non Muslims are scorned as infidels by what I believe to be the majority of Muslims. Intolence is their creed and we should not tolerate that.. (Pun intended)

Macleans.ca : British anti-Islamists coming to Canada

Fri, 7 Jan 2011 03:16:03 +0000

Thanks Nerd, I was about to defend myself against Les but you took the words out of my mouth. Methinks Les is a raving PC hysterical barking dog of the left. (that's a bit of a mouthful)

Macleans.ca : British anti-Islamists coming to Canada

Thu, 6 Jan 2011 01:57:56 +0000

Too much PC cluck clucking for the feelings of the radical jihaidists. You don't turn the other cheek to those murderous Muslims. If you do, they just strike you again. PS: Please note that this is not critical of Muslims, just critical of murderous Muslims and their cheerleaders. So don't go all PC hysterical on me.

Macleans.ca : Manitoba hospital's obese patients require special gear

Sat, 1 Jan 2011 17:37:05 +0000

@ Truenorth Again, let me make myself clear, I am only peeved at those whose health problems are self inflicted and who willfully refuse to implement ways to combat the problems. I had a health problem, high Blood pressure, it was not rocket science why, though I was not obese, I was almost 30 lbs overweight(close to being technically obese) and was heedlesss of my diet especially salt intake so after losing the 30 lbs and controlling my salt at below the recommended Canada Food Guide max of 2300 mg of sodium/day and incorporating an excercise program, I was able to get off the BP pills. I know people who are obese and who have close relatives with diabetes and now have pre-diabetes conditions and STILL fail to wake up and smell the coffee. They could avoid or at least delay the onset of diabetes by eating better, get some excercise and lose weight. But Nooooooo!!! That would take willpower and self disclipine. This all inflicts needless expense on the health care system that is going to collapse due to such issues. Now, is there anything I just wrote that is debatable?

Macleans.ca : Manitoba hospital's obese patients require special gear

Thu, 30 Dec 2010 03:42:32 +0000

@ Healthcare Insider Yes, I am a fellow Canadian. And I have a problem with people who through their behaviour, get avoidable diseases or bad consequences that result in costs to the tax payers. Obese people a prime example(diabetes, heart disease, knee replacements), smokers who get lung cancer, drug addicts who need treatment for a host of self inflicted heath problems, drunks who kill others in car accidents, none of these get any sympathy from me. I am not against treatment for victims of mental illness, or victims of the bad behaviours of others such as second smoke, nor bad genetics. Smokers, drug addicts, drunks and obese people just turn my crank. They need to get a grip and stop whinning about being discriminated against. What a laugh. Society can't afford the results of their indulgent behaviour. Don't you get me started.