This may be mostly for my amusement, but I'm sure it'll come in handy.
People bad at math and financial planning in the news.
Starting with this lady!
https://www.cbc.ca/news/gopublic/cas...blic-1.7003796
This may be mostly for my amusement, but I'm sure it'll come in handy.
People bad at math and financial planning in the news.
Starting with this lady!
https://www.cbc.ca/news/gopublic/cas...blic-1.7003796
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Accountability strikes again. Glad the agent learned her lesson.Thompson filed a complaint with RECO, which eventually penalized Tsai for failing to disclose she had a personal interest in the transaction. She was required to complete a course outlining an agent's obligations, at her own expense.
Financial literacy isn't taught in schools. It wasn't taught to most people parents for them to pass on. It isn't commonplace anywhere.
I can eat more hot wings than you.
Next up: Payday Loan places charge unreasonably high interest rates.
But Holy fuck, should this ever be taught in school. Instead we're making space for comprehensive learnings about zhim/zher and letting kids think that payday loans are viable.
I love the prevalence of financial illiteracy. It makes it much easier to relax as part of the leecher class.
I think this one is worse:
This senior sold his home due to interest rate hikes. Now, he can't find an affordable rental | CBC News
Owns his home for 3 decades and somehow still a mortgage probably near 500k.John Cufflin has just over a week until he has to be out of the house he's owned for three decades — and a lack of affordable rentals in Calgary means right now, the 76-year-old has nowhere to go.
He blames his situation on the Bank of Canada's recent series of interest rate hikes.
"Previously, the money I was spending on my mortgage was approximately $1,000 a month. And in the last year, that has climbed to $2,600 a month," said Cufflin, who makes $2,200 a month through government support.
Haha that's what I was thinking. How tf do you own a home for 30 years and not have it paid off?This quote is hidden because you are ignoring this member. Show Quote
Yeah, that dude never "owned" his home, he clearly was paying minimum amount and re-financing for longest amortizatin every renewal.
I mean, I have done that, but yikes.
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His numbers make zero sense, it's not surprising he's lost his home. His interest rates would have to have gone from less than 2% to over 10%.This quote is hidden because you are ignoring this member. Show Quote
Maybe he had to consolidate all his hair dye HELOC debt into his mortgage.
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heheheheThis quote is hidden because you are ignoring this member. Show Quote
Originally posted by SJW
Once again another useless post by JRSCOOLDUDE.
Originally posted by snowcat
Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.^^ Fact CheckedOriginally posted by JRSC00LUDE
I say stupid shit all the time.
He wants to own a home again... with $2,200 in income.This quote is hidden because you are ignoring this member. Show Quote
He's been paying rent to the bank and had to cover all the maintenance expenses. Should have been renting to begin with.
My Tesla referral link: https://ts.la/moon14483
Tesla new owner FAQ: https://forums.beyond.ca/threads/411...37#post4928237
Likely paid $70,000 for his house worth ~$1mil today.
Still owes $500k.
Needed money to buy all those sick antiques bro.
YOLO bro!
Buying 35 year old 4x4 to fix is just bad money too. But fuck it. I love it.
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Surprising he didn't run into this situation in the 80s.This quote is hidden because you are ignoring this member. Show Quote
But also:
I'm confident that 'common' is not the right wording here. This dude's entire situation is fucked and an outlier.Laura Tamblyn Watts, CEO of national seniors advocacy organization CanAge, says stories like Cufflin's are becoming all too common.
To be more pointed about the topic, I don't remember learning shit about finances, taxes, how money works etc in CALM class. Fortunately my parents were good with money. My wife's parents barely had money growing up and both my wife and her sister are savers almost to a fault (as in they're terrified they never have enough money). Conversely, others who grew up without much money end up just relentlessly spending their money because they don't think they'll ever have anything nice so what's the point.
The older I get, the more I've come to realize that handling money is like 60% psychological and 40% actual earnings. Think about someone as a cashier their entire life and some CFO. Somehow both can be living paycheque to paycheque.
Last edited by msommers; 10-23-2023 at 11:44 AM.
Ultracrepidarian
It’s notThis quote is hidden because you are ignoring this member. Show Quote
Tons of people out there that retired with only cpp/oas as income and use their homes as piggy banks.
You have alt lenders qualifying people up to 80% LTV with 60% TDS (with grossed up income if it’s not taxed). Then you have HEB giving reverse mortgages up to 40% LTV with an 8.5% rate just eroding away equity.
It’s a combo of not adjusting lifestyle and grown adult children leeches
I saw some website that said that the average Canadian @ 55 has around $600K saved up for retirement.
Never trust the interwebs.
So I just looked at the recently solds in West Hillhurst on Honest door. Nothing below $85K that shows sold in 29-30 ago on the 20+ properties I clicked on.
There are plenty of properties in that neighborhood currently selling for less than $500K. He could be ones of those that just kept using his house as an ATM to pay for his antiques.
My Tesla referral link: https://ts.la/moon14483
Tesla new owner FAQ: https://forums.beyond.ca/threads/411...37#post4928237
Women.
/thread
oh it happens
next time
call a friend
ask beyond
etc.
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100