Have We Lost Our House Money | Will It Last?
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- Опубликовано: 1 окт 2024
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Complete honesty to where our money from the house sale went, we made some big expenditures what was left and where did we invest it. Where did our house money go, join us for a complete breakdown. How we invested our house money to grow our savings, join us for a breakdown.
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@@ThisIsOurRetirement Thanks! Normally use Airalo, but will try Saily on our trip to France in Fall!
I'm glad stock picking is working for you. I tried that in my thirties and did no better than break even. In my forties I learned about index funds, and that has done much better for me. If any of your viewers have bad experiences with individual stock picking, investing in low cost index funds and ETFs is an excellent alternative.
Agree. No one beats the market long term. Individual stock picking is not only stressful but also unproductive most of the time.
Thanks for the tips!🙂
I got a very good advice from a long term friend, stocks doing well these days.
Sold my house, cash in high interest accounts for now, will stagger money in to ETFs over time, and others... And head to SE Asia, semi retire and relax, 10 years earlier than thought. Life is for living, right.. 😊
Sounds great!good luck 🍻🙂
SE Asia? Why on earth would you go there unless you came from there originally?
I suggest low cost well-diversified ETFs, such as Vanguard's Developed World (or many other similar ones) for shares and Money Market funds (very short term bonds) for cash. The one I use (I'm in the UK) is presently paying over 5%. Money in any of these funds is available same-day if required.
Good ideas thanks for sharing!
i retired 11 years ago bought a house away from the big smoke. The house had a first floor apartment to rent. I have DP pension I have a full TFSA with dividend paying ETF s . I have a small RRSP full U.S ETFs paying dividends. RESEARCH SVOL a US ETF paying 14 percent
Enjoyed your video, and my wife and I are actually opening a second TFSA today. Nice to hear that we should be on the right track with this investment plan. At our appointment today we are also looking to make a different bank our primary bank, as they offer no charge banking to folks over 60, and our current bank charges for deposits, withdrawals, debit transactions and even charge a monthly fee just for having a checking/savings account. You offer good advice, in simple words, not in “lawyer speak “.
That is awesome! 🌺🙂
Very interesting and informative! Thanks for sharing. Looking forward to a video with your experience and “advice” re credit cards, especially those that help offset travel costs.
Love you guys for your honesty and wise words. Cheers . I'm going to get saily for my mom for her travelling. Thanks Guys
Thanks so much Terry 🌺🙂🍻🍷
ETFs are a good choice for people who are wary buying individual stocks. I have some indexed to the S&P500
We agree!
Your set up with your trailer looks beautiful. I love seeing the photos. Lovely trees.
Thank you so much! it is very pretty and relaxing there Lori Cheers 🍻🌺🍷
Everyone’s financial journey is different and it’s great to hear your thoughts. Thanks for sharing! You guys are so down to earth and seem to really enjoy the simple things in life. Cheers!
Our pleasure! thanks for watching 🍻🙂
Hey, there, guys. I'm so happy you're doing well with your investments. Makes life more interesting!!! 😊
Yes it does! thanks so much for watching we appreciate your support so much Cheers 🇮🇪 🍻🙂🌺 🇨🇦
Curious why you didnt opt for GICs that pay returns monthly vs high interest bank accounts? Did you require the liquidiity? I believe the returns would have been double with zero risk.
You are cool guys! That’s so useful for us all. Very inspiring and very wise! Thank you!
Our pleasure! 🙂🌺
"We bet it all on black"😂😂Love you guys; your videos are not only very informative, they are very entertaining too! Thank you!
Our pleasure! 🌺🙂
Interesting your investments. When you sell a stock, do you figure out upfront the tax consequence or just go ahead and work that that out at tax time? Useful video. Thanks
Yes we do think of that before we sell 🙂
I recommend the etf CASH currently paying 5% and sellable at any trading day. I also used to hold individual stocks. In fact every one you mentioned! Now I hold VFV,and a Canadian index etf. All of those are pretty steady earners.
Thanks for sharing Derek 🍻🙂
@@ThisIsOurRetirement Can you shareyour Canadian ETF? So far I own VFV and VDY but would like to learn more.
Just to clarify, the Carnival on board credit for owning 100 shares is $250 for 14+ day cruises. It’s $100 for 7-13 day cruises and $50 for cruises that are 6 days or less.
Yes thank you for clarifying David 🚢🍻
Thanks for the Saily plug. I will be using this next time i go back to the UK.
Awesome!
We really enjoy the rapport between the two of you, great videos and information. Thank you for the e-sim tip. Would you consider doing a video that includes all travel "tech" related tips? You've got so many good ones throughout your videos, but having them all in one would be really helpful! Keep up the great work!
Great suggestion! we will look to do that thank you 🌺🙂
Valuable information here!thank you! ❤
You're so welcome! 🌺🙂
Did you buy an apartment or do you rent now?
We sold our house and now rent we love it ❤️🤗
The EQ 10 day notice is interesting. I'm not at retirement age yet and the bulk of my invesments are in TFSAs or RRSPs but I do have some cash in HISAs and usually get 5.5 - 6% at Tangerine or Simplii. Unrelated - I've been researching Portugal for October. Travel planning is about the only time that I wish that I lived in Ontario rather than western Canada. So many destinations are so much easier from Ontario.
It is great not having that Western Canada extra flight, your 5.5% rates are promotional rates whereas the EQ isn’t. Thanks for watching and Portugal is well worth the visit 🇵🇹🇨🇦
@@ThisIsOurRetirement Yes, I know that those are promotional rates. They're often good for 6 months at a time. And, for me, this is only a small amount of cash and not retirement investments or money that I need to live off of currently. I wish that the latter was the case as that would mean that I was retired. :)
Great video thanks maybe share a video on Eq banks interesting
We do mention EQ quite a bit as we have different accounts there Nancy Cheers 🌺🙂🍷
Was curious if you still own Telus stock. In a past video you mentioned that you owned it and the stock had split.
Yes we do
Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.
If you are going to be holding a stock for 10 years + then entry point price is almost irrelevant. If shorter term then look at holding more cash in GIC’s (Canada) T-Bills (USA). If in doubt seek professional financial advice.
Never invest in ONE stock. If you're in the US, invest in a broadly diversified portfolio of ETF's, short term bonds and leave some in cash as well. But never put all your money into one stock.
Very useful information.
Investigating the options..
High interest savings...you get taxed on 100% of the profits just like salary.
Canadian dividend paying stocks... No tax on dividends... Unless they change it too.
ETF vs Covered call funds for monthly income 🤔
The latter provides more income.
Thanks for watching 🌺🙂
Hi Tina & Norm. How do I start investing? I don’t know the first thing about what to do. Do you have a step by step of what to do? I watch a lot of Dave Ramsey and he says invest in mutual funds. I also have seen on several RUclips videos that it should be growth stocks. Where oh where to start. Do have an investment group? Or do you go with your banks broker? I have seen lots of talk on RUclips about a platform called Wealth simple. They say its very low cost to use. Don’t know a thing about all this. Can you make a video for absolute beginner investors?
It can be daunting Monica, we cannot give investment advice because we are not licensed to do so. Any investment advice you receive has to be from someone who knows and understands your circumstances. If you have no idea try and find a licenced investment adviser who will give advice for a fee. Good luck.
How nice to see both of you again. I like the way you are handling your money. I need to learn about stocks, trading and investing to make a few more dollars. How does Florida measure up to being a snow bird compared with my beloved Portugal? Wishing you both the best!………🤗🇨🇦
Florida rental accommodations are more expensive than Portugal, thanks for watching. 🇵🇹
thanks for sharing, good to hear you are doing well.
Thank you 🌺🙂🍻
I'd also not recomment people getting "financial advice" from paid salespeople at their bank, or any "advisor" who stands to gain by pushing you onto something. Fee for service only advisors would be my advice (if someone absolutely geels they need an advisor that is - I just do my own).
We agree Debbie, pay for advice but we also do our own investing and research.
I most certainly wouldn't advise you just leave your money to lie fallow in the market in the name of saving for retirement. Buy a house, maybe yes. But most importantly consider diversification and give priority to investment
We just sold our home 8 years ago and are happy with the money in stocks giving dividend interest and high interest saving accounts Christopher Cheers 🍻🙂
you also need to consider Bonds or Bond funds!
They are good as we age to give stability, unfortunately in bull market with stocks at high levels it drives down bond yields.
@ThisIsOurRetirement with interest rates possibly dropping that will be a boon for bond yields. As you indicated that half your house money wasn't doing anything. Even capital gains is better for your tax position than interest earned on savings account interest or GIC interest.
Tina and Norm , I admire your honesty, direction with your financial wisdom and you two are doing well.
Being single, I invest for one in safe areas, not stocks.
I don't have that kind of know how. My home is paid for, and have invested $300 th. My trap is full and tfsa is topped up to the max. I am trying though. Sandra 💙💫💙
Rrsp
Sounds great Sandra we also like high interest savings accounts to be safe too 🌺🍷
My mother now deceased invested little by little in the utilities at & t, dte, semco with reinvesting until retirement. Thinking at retirement the dividends would pay the monthly bills. We sold the AT&T when my youngest went to college and I paid mom back monthly. SEMCO(natural gas) was state regulated and didn't grow very fast, so it was sold for a house repair, but came in handy that way. DTE paid the way mom anticipated, but she chose to us the money to support my sister a missionary in Thailand and leave the remainder to her as a nest egg when her husband would die.
I have stock in a utility, a pharmaceutical, and a smattering of other small investments.
They were all "penny stocks" purchased individually. Will it be a nightmare for my children later?
Just leave a letter outlining where they are and any passwords to access the stocks.
Wealthsimple is currently paying 1% to move your assets "as is" over to them. Their cash account pays 4% up to 5% if you have enough, insured up to $300K. The only downside with WS vs QT is no Norbert's Gambit but the upside is fractional shares on DRIP which QT doesn't have and no fees to buy/sell.
Also Wealthsimple is not a bank but a Fintech
Thanks for the tip on Carnival, i own stocks and didn't know there were perks! Woohoo! Thanks for another great video!
Happy to help! it’s a great perk Jacquie 👍
Well done on your investment journey, Tina and Norm. I'm pretty much at the same place in life as you are, except I lost my home after the market crash of 2008 and therefore have to take a little more risk on chasing investments with greater capital gains. Hopefully it will all work out for me in the end. Happy travels and keep smiling.
Sorry to hear that Mike wishing you all the best 🍻🙂
Is this old? EQ is 4% right now. Also have you considered wealthier where you can get 4.5%?
EQ is 4% if you have your salary directly deposited otherwise it’s 2.5%
❤ Very smart, wise strategies! Happy retirement and future
Thank you! 🌺🙂
I appreciate your transparency on your investments 😊 Do you have sn adviser or do you invest on your own? Hspoy it's all working well for both of you.
No we do it ourselves 🇺🇸🌺🇨🇦
Great job, you two! We like your videos and your vibe :)
Thank you so much 🌺🙂
Another good one guys!. Love your honesty and willingness to share your retirement experience. Going to check out the Notice Savings Account. Thanks for the tip.
Our pleasure!
Great video as usual. Ill try Saily too. Thanks!
Just curious.. are the dividends enough for you to live off?
Yes they are thanks for watching 🌺🙂
Your idea of renting in a controlled unit makes sense although such units are not that available to Canada ?
Yes you are right, the rent control is mainly Ontario, Canada.
We are getting around 5% in high yield savings account! This is at my credit union…
Canada official rate 2.9%
Calling it a tax free savings account was a huge disservice to Canadians. So many to this day just think it is a savings account and don't realise the potential of it as an investment account.
Yes, the worst thing is to use it as another bank savings account and get no interest.
Thank you for another great video. Your transparency is so refreshing and beneficial to those of us who are interested in doing the same.
You are so welcome! happy Canada 🇨🇦 day Patsy Cheers 🌺🙂
I'm a fan of MO, TFC, OHI, O and NLY. Excellent video. I envy you both. oh, and VZ. BMY look attractive also.
I refuse to be at the mercy of a landlord.
LoL. Mercy me. It’s a great way to invest house proceeds and have freedom.
There is some validity to what you say as there’s always the chance of rental increases or putting the property up for sale but Norm and Tina are in a rent controlled apartment I believe ? And that is a game changer.
We rent from a large corporation all they do is rent 🍷🙂🍻
Hi Tina and Norm, we could be you in about ten years Lol. Lots of similarities including the interest in swimming (Tina) & classic rock (Norm) 😄
Did you explore reverse mortgages? What were your findings? Also, what are the tax implications for your high interest savings outside of the TFSA/RRSP space?
No we didn’t as our plan was always to sell , what ever tax we are charged goes on our tax return 🙂
Reverse mortgages are interesting but the big disadvantage is that compounding works against you, and because you are not making any payments you will most certainly end up with a balance owing significantly higher that what you got out of it initially. Secondly interest rates are generally higher (currently in Canada rates are between 7-10.5%) than other lending options. If you have decent equity and credit hx
its not impossible to get a HELOC below bank prime rates. You still have to make interest only payments with a HELOC but you or your family(if that is a consideration) will be further ahead.
Just to correct you, Norm... the TFSA limit hasn't been $5500 since 2019. It goes up to allow for inflation and last year was $7000, with the previous two years being $6500 and $6000 respectively. If any of your viewers are not familiar with TFSAs, I would encourage you to research them today, as it is the most powerful savings vehicle available to you.
Yes you are right James guess it’s harder to remember the number 💰when filming live 😂😂 we are fully up to date on funding ours Cheers 🍻🙂
Also did the TFSA max. Also the rest into a high interest savings account with Wood Gundy where we have all our other retirement money. This money is in dividend paying stocks. Also have Apple which we've had for many years. Looking at selling some of the Apple because we're up about 3900% from our book value.
The only risk with high yield savings accounts is that, at least here in the states, the interest rates fluctuate almost on a daily basis. So if the government cuts bond rates those savings rates tend to track down almost immediately. Personally I have been toying with buying a 20 year treasury bond as a buffer if rates go down, but am hesitating because I am old enough that 20 years is too long a horizon. Basically I am unwilling to tie money up for that long. I may increase my position in AT&T since its dividend is not in the 6+% range. I may buy some on the next pull back.
Everything to good to be true...
I need has much information as I can get when it comes to investments. Great video!
Glad it was helpful! 🌺🙂
Good evening Norm and Tina, what are stock "pull backs"?
It’s when there is a pause or a price lower than normal so it’s a good time to buy 🙂🍻
@@ThisIsOurRetirement thanks 😊
Another great video! very informative, one question regarding the sale of your house.. did you sell it yourself or use a realtor? I'm guessing the thought of giving 4 or 5 % of the sale to someone else was not appealing :) cheers!
We sold it ourselves saved a lot of money 💰 Dwayne it worked well 🍻🙂
@@ThisIsOurRetirement yay I’m so glad you said that !! - we have never used a realtor when we either bought or sold and it’s probably saved us upwards of $50-66k USD
Hi Norm and Tina: Quest Trade sounds interesting. We earn close to 5% in our high interest savings account. Ai keeps us busy with Google, Amazon, Microsoft, Salesforce, Qualcomm, Zscaler, Apple. I don’t always follow the experts advice as they are wrong sometimes lol. The banks including Morgan Stanley, Royal Bank have done amazing. Cheers! Happy Canada Day! PS. We drove to your area and checked out the apartments. Paul and Helen.
Guess we have some similar shares , What did you think of the apartments in our area 🤔 Cheers 🍻🙂
@@ThisIsOurRetirement. We looked at one unit on a main floor under renovation and it was spacious but dated. Large balconies! The drive was beautiful but we think the area is a little too isolated for us. The apartment rental availability at present is very challenging. We have toured a lot in KW. Have a great weekend.
Were you looking at Realstar corporation or Drewlo Corporation both very large companies in Southern Ontario 🌺
@@ThisIsOurRetirement. Drewlo and others…
We need those tax free accounts in the USA! We pay taxes on all investments now. No cruises or month long trips for us.
They are a great idea 🌺🙂
No tax-free accounts in Finland either. Here they tax the air that you beathe😪
@@JohnSmith-fx3st. Still an amazing country. Going soon.
FDIC is American, CDIC is Canadian.
Unless you honk your car or truck horn and then the govt will freeze you out of your account.
TFSA are called ISAS in UK. £20k per person tax free. I've noticed Canada and US are not as generous there.
Is that £20K per year contribution?
@@ThisIsOurRetirement Yes. It's a great way to build up a pot with a view to retire early before drawing down from your pension and then social security later. All withdrawals are tax free.
@johnristheanswer Here in Canada they hate giving good tax shelters. They keep the TFSA annual limits too low (IMO). They want people in RRSPs which are taxed on withdrawal. If someone dies with a large balance in their RRSP - watch out! Their final tax return will be a killer with all of it considered income for that year. Not so SD if they have a spouse that can roll it into theirs, but if you die single your heirs will be screwed by the taxman and lose possibly over 50% to the taxes.
@debbielockhart7762 It's the opposite over here. The pension pot is NOT part of your estate, so it can be passed on with no penalty. The ISA ( see above ) IS part of the estate, so would be taxed at death.
Even in Canada, an eSIM can provide cheaper data than your native provider, and even work better if it connects to multiple networks. Crazy. Lots of eSIM providers out there. If only I had a phone that could use one! Someday...
I was thinking it could be a good way to save on data charges! I have a pay as you go plan.
Enjoy your videos. Appreciate your efforts
Glad you like them! thanks for watching 🌺🙂
Buy Costco
We spend enough there 😂😂 thanks for the suggestion
Very interesting. Really enjoy your videos
Thank you so much! Cheers Helen 🌺🍷🙂
Thank you for good suggestions! ( from Tennessee USA)😊
Great video. Thanks.
You are welcome! 🌺🙂
Why to Americans/Canadians build such short life houses. My house in London, built 1875. Roofing nails have been replaced, small area of wooden floors replaced, bathrooms built, windows had already been replaced by cheap plastic double glazed units, new kitchen units. But the actual structure is fine. No new roof, no new doors, no new wooden floors upstairs......nearly 140 years later going strong, real mouldings, cast iron fireplaces.
And what is the quality of British houses built in the mid-20th century? It seems they are worse than American and Canadian houses.
No extreme climates in the UK, we get up to -30°c in winter and +38°c in summers.
Love you two and the great videos ! Art S mith
Thanks so much! Cheers 🍻🙂
Thanks!
Thanks so much Pat 💕👍
You guys are smart
We try to be Eva 😂😂
Great video as always 😊
Thank you 🤗
Thanks for sharing 😊😊😊😊
Our pleasure 😊
Keep in mind that nominal interest rates of 4 and 5% are in reality negative real rates due to inflation. You are steadily losing future purchasing power.
Having emergency cash is part of a diversified portfolio
@@ThisIsOurRetirement yes, I agree. We have to have some cash for daily use and emergencies. I also believe that getting out of the banking system as much as is possible is prudent as well. That is why I also own physical gold and silver. Not paper or ETF's.
Cool Lisboa shirt!
We just got that on our Transatlantic cruise 🚢 we were there for a day 🍻👍
Great video🌷
Thank you 🤗
My question is.....are you truly "retired" 100%? Or are you still trading your time for money. I'm sure it takes time, planning, equipment,effort to make YT videos that are paying you cash plus sponsors income. Also time and effort to get more views and subscribers to make more cash. Is it easy cash.... there's no free lunch in life.
We do You Tube as our hobby 🌺🙂
You guys are so brave. ❤
I hold very little in cash as it's doesn't make me any money - I keep about 50k liquid, the rest I invest with a financial adviser as I don't want to learn or be hassled with worrying about it, this money comes from the sale of my house and I rent a nice apartment and can afford to travel when I like. I am a widower.
Thanks for sharing! wishing you all the best 🍻🙂
$6500 each in your TFSA this year!
Actually just checked the chart and it might be $7000 in 2024 thanks for watching 🙂🍻
Up to 7800 now!
@@vanginmi The annual additional contribution room is currently set to $7,000. It is not possible for it to be $7,800 as the additional room will only grow in $500 increments. It is possible, in late 2024 they the limit will be increased to $7500 but I doubt it.
@@James_48 perhaps im on catch up 😉
Remember your house is a primary residence and grows tax free. Think of it as a giant TFSA! 💰 😊
Always maximize your TFSA and RRSP early in life and let the tax free compounding soar. 😉 💵
$725 per month in an RRSP or TFSA with a 12% average annual rate of return, one could retire with more than $8.5 million after 40 years. 😊❤ 💰
Is 12% a typical gain in those accounts?
@@Savannah-ed4rv
Absolutely! 💯
Thanks for sharing 🍻🙂
@@Savannah-ed4rv7% is a much more reasonable assumption.
Did you think at the time to rent the house instead and live from the rental income to be able to pass the house to your grandkids?
No that was not an option, we sold the house and invested the money 💰 to help fund our retirement we wanted to remove all the unexpected expenses and maintenance to allow for a stress free retirement. Selling your home also releases your adult children from a huge problem of decluttering Cheers 🌺🙂🍷
Thank you
@@ThisIsOurRetirementHopefully the children Will be able to afford a home of their own one day with the way things have been going
@@charronfamilyconnect Their children should already have a houses by now.
One of the top mistakes when retiring is financially supporting adult children.
You need to cut the cord.
@@ThisIsOurRetirement. My husband and I just did the same. It wasn’t our plan but he was diagnosed with IPF and had to retire early.. AND, we needed to move closer to the MEDICAL UNIVERSITY. So, we sold the big house and downsized to a 1200 sq ft apartment. WOW oh WOW renting with no maintenance ,yard,insurance worries is great! And, we have also amenities - pool,gym etc…WHEN I get the storage bins emptied , I will feel so free! We are 60 and 63 and our adult children do not want anything 😮! Enjoying the simple life: walks in the parks,bike rides to lunch etc,,,, puzzling and gaming and reading . We are hoping to travel some soon! 😊😊
Don't you have online only banks in Canada. In Australia we get 5% and all you need to do is deposit $200 per month. Ubank is an example.
Yes we also have just online banks Richard 🇦🇺🍻🇨🇦💰
TFSA are in stock market too? Did you invest in ETF if not, why? Interesting video :-)
We were young enough to invest in stocks thanks for watching 🍻🙂
Never too old for that ☺️
I see my comment has disappeared, did I say something wrong? :(
We haven’t seen another comment other than this one from you sorry 🙂
Weird, nonetheless, I'm glad I didn't inadvertently upset someone 🙂
TFSA is 7k in 2024!
Yes thank you it’s grown 😂😂😂
You're going to have to put it all on Black eventually.
We aren’t big gamblers 🌺🙂
I see what you did there.
@@ThisIsOurRetirement That's how I retired early 😃
But really, what is good about 3-5% interest return? When you know your incompetent government spends more than it takes in, prints money, and the dollar has been devaluing by 5-8 percent the last few years, then that means you are falling behind (especially when you know that interest income gets taxed worse than dividend income)! The real indicators of inflation, or should i say more accurately, the devaluation of our currency, is how much rent costs now, and how much pickup trucks cost!. (Still have Royal Bank, sold TD, Bank Montreal, and Bank Nova Scotia two months ago (the latter is still a good stock). (Was worried about USA banks, that is why). Cheers, and would like to know what it is like to communicate with your EQ bank online instead of with a real person.
We find dealing with EQ very easy on line simple to get online and move money 💰 from different accounts 🙂
BCE is down the lowest in 10 years........
We have had ups and downs Nick but we bought BCE low 15 years ago Cheers 🍻🙂
Yup, my investment for BCE has tanked. Good time to buy more to DCA!
@@Jacquie_Kirk_111until they cut the dividend?