tag:blogger.com,1999:blog-5433839636644874439.post3403571127396197949..comments2024-03-04T13:37:11.022+00:00Comments on Canadian Financial DIY: Inflation for Retired Canadians - Some SurprisesCanadianInvestorhttp://www.blogger.com/profile/05645767559302303541noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-5433839636644874439.post-23539259349516236302009-08-01T09:13:20.027+00:002009-08-01T09:13:20.027+00:00Dear,
I want to make 1 guest post in your blog, if...Dear,<br />I want to make 1 guest post in your blog, if you permit me. The post contains 350 words above and totally unique as it is written by my content writers.<br /><br />Please contact me at ericasmith568(at)gmail.com soon. Moreover, I will place your link in one of my finance sites.Erica Smithhttps://www.blogger.com/profile/14631972120782490337noreply@blogger.comtag:blogger.com,1999:blog-5433839636644874439.post-68662908919729623222009-07-28T21:17:50.053+00:002009-07-28T21:17:50.053+00:00Exactly, you are absolutely right. Even though it ...Exactly, you are absolutely right. Even though it seems easy - you contact a loan, buy a house, rent it and it earns you a lot of money. It is not that simple. After paying off your debt, you need to invest to the house again and again. Best, Elli.Toronto condos bloghttps://condostoronto.wordpress.com/noreply@blogger.comtag:blogger.com,1999:blog-5433839636644874439.post-81658183099801415122009-07-25T22:54:33.968+00:002009-07-25T22:54:33.968+00:00It seems a house never stops needing renewal, upda...It seems a house never stops needing renewal, updating, repairs. New windows, kitchen or bathroom redone, roofing, carpets, floors redone, leaks fixed, furnace replacement, landscaping, drive repaved, patio redone, painting. I'm not very much surprised the total expenses after the mortgage gets paid off could still take up the same chunk of income. Just when the mortgage gets paid off, it's time for major upgrades. It's like roadwork, it just never stops. ... Now to go do some exterior paint on wood trim ... if it ever stops raining long enough!<br /><br />btw, that BC tax-deferment deal sounds wonderful. According to the BC gov't website, the rate is only 1.5% right now, though it is revised up or down with general interest rates and has been as high as 4%. Time to do a little digging as it appears that the City of Ottawa has a similar program, though the interest rate charged is 5%. Thanks for the blog post idea!CanadianInvestorhttps://www.blogger.com/profile/05645767559302303541noreply@blogger.comtag:blogger.com,1999:blog-5433839636644874439.post-14734427459153873182009-07-25T20:31:47.328+00:002009-07-25T20:31:47.328+00:00in addition to my previous comment wouldn't an...in addition to my previous comment wouldn't an asset rich car flow poor senior suffer much from renting, after all each month you have to fork out 800-900 (in Kitchener Waterloo for example) a month in rent, certianly less than property taxes.<br /><br />Personally I'm surprised that both pay the same percentage of income.<br /><br />rob in madridAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5433839636644874439.post-19253104559137365672009-07-25T20:10:19.707+00:002009-07-25T20:10:19.707+00:00While I tend to agree with you most people have a ...While I tend to agree with you most people have a hard time thier mind around the idea that renting is better than retirement. Even with the hidden costs of homeownership I can't see it being more than renting.<br /><br />Also the idea is once the mortgage is gone you can more into savings. <br /><br />Rob in MadridAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5433839636644874439.post-8751228079658797002009-07-25T16:48:41.234+00:002009-07-25T16:48:41.234+00:00In B.C., you can defer your property taxes until y...In B.C., you can defer your property taxes until your house is sold and the government hardly charge over 2% on defer taxes. You can invest money somewhere else.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5433839636644874439.post-10468491089455624052009-07-23T21:53:20.646+00:002009-07-23T21:53:20.646+00:00Traciatim, that's a possible point. I think is...Traciatim, that's a possible point. I think is it answered by the Spending Patterns Table near the beginning of the study. The table says that both senior renters and homeowners devote the same 14.7% of their spending to either rent or mortgage/taxes/other homeowner expenses. So unless renters are much richer and spend a lot more in total terms than homeowners (in fact, it's the reverse I believe) the renter seems to me to really be coming out ahead. <br /><br />Seniors who own a home but don't have high income may get squeezed out of their home by those rapidly escalating costs e.g. taxes go up because property values rise steeply but the senior has no good way to convert the capital gain into their income to pay the rising costs. Reverse mortgages theoretically could work but from what I've read, the costs are so high it is a bad deal.CanadianInvestorhttps://www.blogger.com/profile/05645767559302303541noreply@blogger.comtag:blogger.com,1999:blog-5433839636644874439.post-11211907344788012682009-07-22T11:15:59.324+00:002009-07-22T11:15:59.324+00:00Of course if you owned your home with no mortgage ...Of course if you owned your home with no mortgage in retirement and are paying 2000 a year in property tax and it increased to 2560, your expenses went up by 28% . . . however the renter is probably paying close to 10000 a year for rent and their increased by 'only' 22% up to 12200 . . . who came out ahead?Traciatimhttps://www.blogger.com/profile/07939921958167371917noreply@blogger.com