I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but I'm at a crossroads if to allocate the entire $680k liquidity value to my stock portfolio.
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is one of the best ways to invest in stocks, and advisors are ideally suited for such a task.
@@BrittanyRenfrew It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
@@huong-f9t Her name is “Victoria Carmen Santaella” can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
@@RoyDiehl-u4y She appears to be well-educated and well-read. I ran a search on her name and came across her website; Thank you so much for your helpful tip. She seems very proficient and I'm grateful for your guidance.
Housing crisis, health crisis, cost of living crisis, debt crisis, inflation crisis, EU war crisis, middle East crisis. How many crises can a koala bear? I'm approaching retirement with comfortable millions, yet scared of a banking crisis. Where do I best grow my money?
I would advise the counsel of a seasoned financial pro. It may be expensive, but as the old saying goes "You get what you pay for." "Expert solutions require Expert providers"
That's right, investing with the help of a financial advisor set me up for life with about $1.6m in stock portfolio. I max out my 401k and have few properties. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. But if it wasn't for 2020 covid lockdown, I wouldn't have supplemented my income with stocks and alternative investments.
bravo! I've worked in real estate for over 25 years and have neglected a major stock portfolio, however I need a different plan now... mind if I look up the professional guiding you please?
“Jessica Lee Horst” is my FA. Just google the name and you’d find necessary deets. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
This isn’t a country of opportunity any longer. Stagnant wages for 20 years minimum wage and inflation constantly rising yet working class wage stays stagnant. Why go to work anymore I totally get why. I work 50 hours 6 days a week to make ends meet. I could go on EI pay way less in taxes and really only make something like $50-100 less a week. There’s literally no incentive you may as well go on EI and pay less to the government. We have Tiff Macklem or whatever of the BoC advice companies and corporations NOT to give the working class inflation pay increases. Yet the BoC,CRA, Federal Government and even most Local Municipalities have given themselves all raises London ON for example Mayor made has increased his pay almost 10K a year since 2020/2021 it’s on public record look it up. CRA were themselves collecting CERB and got a nice raise…
Things are extremely tight for us right now and have been for the last 3 years. We make very good money, but our mortgage broker kept telling us to “ride the wave” of our variable mortgage. Our mortgage went from $2000 a month to $4000, took away every last red cent we would use to save after our expenses are paid. We trusted the “professional advice” given to us. Yes, we could have still decided to lock in or just take a fixed 5 year, but again we went with the advice given to us. At the end of the day, I guess it’s on us, but it’s still a VERY tough pill to swallow, and because we are house poor now is not because we bought too much house or got ourselves into too much consumer debt. In fact, it’s probably those reasons that we could still pay our mortgage and not have to sell. We drive very modest older vehicles and don’t go on fancy, luxurious vacations
I am also in the same boat as you and from this I learned never ever to trust a mortgage agent when it comes to rates and do my own research and stick with that no matter what mortgage broker says because they are all on commission and will do anything to make their commission
@@nicholasbaker8158You’re assuming you’ll get top dollar for your property which you won’t. They have struggled for 3 years and it will get worse. Instead of selling, you’re better off turning your house as an asset by finding renters as a mortgage helper or time share your backyard for camping if it makes sense.
Its easy for wealthy commentators to weigh in and clam there's a problem with self-discipline Rents have doubled and tripled, depending on where you live. This is not an individual failure. People are being extoted of every cent they have, dept is the only option to cover other needs.
Or the prices of basics like groceries and rent are so ridiculous that even middle-class families are going into debt or skipping meals to survive. It's been in the news.
Such a joke! More like they are being extorted every cent they have in rent with not much left over to cover other necessities. This is not about individual 'failures'.
Here’s a well kept secret. Your salary doesn’t determine your financial state, your lifestyle does. You can earn $10k a month and still struggle. For someone like me, $4k is more than fine. I bike or bus to work and smile whenever i can. You create your own despair.
True. But I’d argue you need to develop some high income skills that would allow you to be better insulated against increased costs of living and get out of saturated labour markets.
And to pay for all of those Illegal aliens he is rushing to get into the country. Ever notice they all have new clothes, new free cell phone, a place to live and money the rest of us don't have. All going according to plan.
@@CoolB962 that’s two different things. Both individuals and the government needs to be financially responsible. You can’t keep asking the citizens to budget when you have a prime minister thinks the budget will balance itself.
2.5 Trillion on credit card debt representing $4,300 per person!!! Over 1 billion dollars delinquency is just the start, it will only compound from here.
@@CoolB962 says the boomer. What happens when you need to choose between food cloths school supply’s and housing, oh and even it you use public transport you pay so budget that in, car = gas… go home to your cottage boomer
I would add that budgeting needs to include not only the “now scenario” but forecasting costs doubling every 10 years. Seriously do you really expect to pay the same rent for the next 30 years?
@@Will-zc8cqCorrect so that’s why people need to forecast future costs and make adjustments to their careers to maximize total lifetime earnings before the bottom falls out. If you only budget to survive today, you will get squeezed tomorrow. Inflation is a known cost risk. Also as a rebuttal I understand some people might be offended that not all people work for money or should work for money blah blah blah. But that’s a choice. And if you don’t plan your finances for future costs, you’re going to get screwed. No one to blame but yourself.
@@mrwonderful4616 the argument being made that is ignored by most is that our foolish government made CHOICES that caused our inflation and interest rates to run away. Yes we have inflation yes we have to budget, yes that is part of life, yes we have a liberal pm who’s main goal seems to be taxing us non stop to fund more handouts, am pm who borrows and takes on debt to fund more handouts. Who’s fault is that still mine? And I’m sorry but from my grandfathers generation to my parents up until about 10 years ago the average salaries growth not remaining flat your just wrong
Don't get a credit card, then you never risk going into debt. Curb your lifestyle. Credit cards are consumer debt, so YOU are the consumer, stop buying stuff you can't afford
Banks create money in computer and give loan to people, People have to work, pay for taxes and life expenses and pay the banks back with interest. Why cant I be a Bank and counterfeit money?
Bank of Canada said interest would remain low. Consumers were encouraged to spend money they didn't have...recipe for disaster. Then, inflation conveniently hits while they print money at unprecedented rates futher devaluing our buying potential. I look at it like this country is done for employees unless you are a top earner. They've just enslaved a huge part of the population with slow financial death as a consequence As if it was any better prior to covid. There are better countries to live in to get the most of your current financial assets. Why continue on a downtrend.
Travel while you can. Money will come back but time won't. Don't worry about the cost just do it..... whoever said this nonsense is out of touch with reality.
@@tijrus That is correct. However, for those that have found themselves in a position of carrying debt, having those high rates will make it so that they cannot learn their lesson and get back to living within their means. Look at how many are going bankrupt or missing payments. I think some people are using their cards to pay for their food.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but I'm at a crossroads if to allocate the entire $680k liquidity value to my stock portfolio.
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is one of the best ways to invest in stocks, and advisors are ideally suited for such a task.
@@BrittanyRenfrew It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
@@RoyDiehl-u4y This sounds considerable! Do you know any advisors I can get on the phone with? I'm in dire need of proper portfolio allocation.
@@huong-f9t Her name is “Victoria Carmen Santaella” can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
@@RoyDiehl-u4y She appears to be well-educated and well-read. I ran a search on her name and came across her website; Thank you so much for your helpful tip. She seems very proficient and I'm grateful for your guidance.
Housing crisis, health crisis, cost of living crisis, debt crisis, inflation crisis, EU war crisis, middle East crisis. How many crises can a koala bear? I'm approaching retirement with comfortable millions, yet scared of a banking crisis. Where do I best grow my money?
Diversify… T bills, CDs, Gold, Stocks, Municipal bonds, Bitcoin, Real estate, etc assets speak when cash has no value
I would advise the counsel of a seasoned financial pro. It may be expensive, but as the old saying goes "You get what you pay for." "Expert solutions require Expert providers"
That's right, investing with the help of a financial advisor set me up for life with about $1.6m in stock portfolio. I max out my 401k and have few properties. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually. But if it wasn't for 2020 covid lockdown, I wouldn't have supplemented my income with stocks and alternative investments.
bravo! I've worked in real estate for over 25 years and have neglected a major stock portfolio, however I need a different plan now... mind if I look up the professional guiding you please?
“Jessica Lee Horst” is my FA. Just google the name and you’d find necessary deets. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
This isn’t a country of opportunity any longer. Stagnant wages for 20 years minimum wage and inflation constantly rising yet working class wage stays stagnant.
Why go to work anymore I totally get why. I work 50 hours 6 days a week to make ends meet. I could go on EI pay way less in taxes and really only make something like $50-100 less a week.
There’s literally no incentive you may as well go on EI and pay less to the government.
We have Tiff Macklem or whatever of the BoC advice companies and corporations NOT to give the working class inflation pay increases. Yet the BoC,CRA, Federal Government and even most Local Municipalities have given themselves all raises London ON for example Mayor made has increased his pay almost 10K a year since 2020/2021 it’s on public record look it up. CRA were themselves collecting CERB and got a nice raise…
You're right, Canada is a mess and we all know the old saying that will be coming soon "When the US sneezes, the world catches a cold".
E.I runs out and you need to work to earn it WTF is wrong with you?
Things are extremely tight for us right now and have been for the last 3 years. We make very good money, but our mortgage broker kept telling us to “ride the wave” of our variable mortgage. Our mortgage went from $2000 a month to $4000, took away every last red cent we would use to save after our expenses are paid. We trusted the “professional advice” given to us. Yes, we could have still decided to lock in or just take a fixed 5 year, but again we went with the advice given to us. At the end of the day, I guess it’s on us, but it’s still a VERY tough pill to swallow, and because we are house poor now is not because we bought too much house or got ourselves into too much consumer debt. In fact, it’s probably those reasons that we could still pay our mortgage and not have to sell. We drive very modest older vehicles and don’t go on fancy, luxurious vacations
Over extended, lesson learned. Alternatively, sell as your house has increased significantly in the last 3 years.
I am also in the same boat as you and from this I learned never ever to trust a mortgage agent when it comes to rates and do my own research and stick with that no matter what mortgage broker says because they are all on commission and will do anything to make their commission
Mortgage went up $2,000 to 4,000 and still surviving 😲. I hope you can survive the next four to five years in the same way.
Hahahaha!!!
Ahhahaaha!!!!!
@@nicholasbaker8158You’re assuming you’ll get top dollar for your property which you won’t. They have struggled for 3 years and it will get worse. Instead of selling, you’re better off turning your house as an asset by finding renters as a mortgage helper or time share your backyard for camping if it makes sense.
Its easy for wealthy commentators to weigh in and clam there's a problem with self-discipline
Rents have doubled and tripled, depending on where you live. This is not an individual failure. People are being extoted of every cent they have, dept is the only option to cover other needs.
Consumer is broke... let the auctions begin
Bring it on..
I can't wait
Trudeau and Freeland would have you believe things have never been better 🥴
People are overspending and won't cut back 😅
People trying to live a lifestyle their salaries just simply cannot support.
Or the prices of basics like groceries and rent are so ridiculous that even middle-class families are going into debt or skipping meals to survive. It's been in the news.
Such a joke! More like they are being extorted every cent they have in rent with not much left over to cover other necessities. This is not about individual 'failures'.
They said we would have nothing and be happy ,,,,we have nothing but find me one poor person who is happy about it.
nothing they said was useful, people are already being frugal as they can be
Not everyone, people spend like they in congress, just to the mall, there are a lot of people living above their means
@@westbccoastYeah with social media too many people trying to keep up with the Jones's
Here’s a well kept secret. Your salary doesn’t determine your financial state, your lifestyle does. You can earn $10k a month and still struggle. For someone like me, $4k is more than fine. I bike or bus to work and smile whenever i can. You create your own despair.
True. But I’d argue you need to develop some high income skills that would allow you to be better insulated against increased costs of living and get out of saturated labour markets.
Debt is an abstract form of slavery
unemployment at what level every month?
Bay st is not main st
lol so much debt that can’t be paid back; very bad for the integrity of the financial system
You hear that folks, next time your kid needs new shoes or wants a toy remember to budget. Justin Trudeau needs that money for dental care….
and his international travels, luxury hotels, 200k airplane food etc.
You always have to remember to budget though. You can say no to a new toy instead of blaming the government for your lack of financial responsibility.
And to pay for all of those Illegal aliens he is rushing to get into the country. Ever notice they all have new clothes, new free cell phone, a place to live and money the rest of us don't have. All going according to plan.
@@CoolB962 that’s two different things. Both individuals and the government needs to be financially responsible. You can’t keep asking the citizens to budget when you have a prime minister thinks the budget will balance itself.
@@littlethings8331 the PM has nothing to do with your decision to buy a toy at 20% interest rate. That's a household decision.
Individual credit card balance in U.S. is $6285. Got a ways to go to catch up ! Pump those arms, lift those knees and smile 😅
2.5 Trillion on credit card debt representing $4,300 per person!!! Over 1 billion dollars delinquency is just the start, it will only compound from here.
He said per card, not per person. Some have 0 cards and some more than 1
Never had a credit card debt. My father told me to pay off 100% every month.
Per card is more logical but if you listen to the expert Scott Satov he said "$4,300 per person"@@letsgoskiagain
@@YTYTYTY7 good for you.
sure glad i am not owed the money poor suckers lending it
Only fools pay 20% interest. Budget and don't live beyond your means, it's that simple.
@@CoolB962 says the boomer. What happens when you need to choose between food cloths school supply’s and housing, oh and even it you use public transport you pay so budget that in, car = gas… go home to your cottage boomer
I would add that budgeting needs to include not only the “now scenario” but forecasting costs doubling every 10 years. Seriously do you really expect to pay the same rent for the next 30 years?
@@mrwonderful4616 no but I expect the minimum wage and average salary to remain the same… kinda messed up how that works eh?
@@Will-zc8cqCorrect so that’s why people need to forecast future costs and make adjustments to their careers to maximize total lifetime earnings before the bottom falls out. If you only budget to survive today, you will get squeezed tomorrow. Inflation is a known cost risk. Also as a rebuttal I understand some people might be offended that not all people work for money or should work for money blah blah blah. But that’s a choice. And if you don’t plan your finances for future costs, you’re going to get screwed. No one to blame but yourself.
@@mrwonderful4616 the argument being made that is ignored by most is that our foolish government made CHOICES that caused our inflation and interest rates to run away. Yes we have inflation yes we have to budget, yes that is part of life, yes we have a liberal pm who’s main goal seems to be taxing us non stop to fund more handouts, am pm who borrows and takes on debt to fund more handouts. Who’s fault is that still mine? And I’m sorry but from my grandfathers generation to my parents up until about 10 years ago the average salaries growth not remaining flat your just wrong
The balancing the budget speach should be directed to our fed gov.....
CEO needs more practice speaking to an audience.
ceo looks like an AI talking , his body image is moving very consistently, he is defintely AI, LIKE A GAME character is moving
Nervous tics 😂@@kartikbharol378
Nah, this CEO is a boss!
@@kartikbharol378 Probably has a health condition, not AI
Canadians taking cues from their PM, "Investing" in lots of debt
How are they going to afford Christmas?
don't borrow any money, use your credit card like your bank card, live within your means.
I would love to pay back my debt,unfortunately I can’t find a job.
Debt Discharge is also an option 👍
😂 well at least some of us got dental
I guess ppl under this trudeau govt should have been saving a long long time ago. Saving for a rainy day
Don't get a credit card, then you never risk going into debt. Curb your lifestyle. Credit cards are consumer debt, so YOU are the consumer, stop buying stuff you can't afford
Banks create money in computer and give loan to people, People have to work, pay for taxes and life expenses and pay the banks back with interest. Why cant I be a Bank and counterfeit money?
Banks making massive profits while renters and home owners are suffering
Thanks to inflation.
Government and banking scheme
Bank of Canada said interest would remain low. Consumers were encouraged to spend money they didn't have...recipe for disaster. Then, inflation conveniently hits while they print money at unprecedented rates futher devaluing our buying potential. I look at it like this country is done for employees unless you are a top earner. They've just enslaved a huge part of the population with slow financial death as a consequence As if it was any better prior to covid. There are better countries to live in to get the most of your current financial assets. Why continue on a downtrend.
Since the Trudeau Liberals got elected, finances have been tough.
Certain demographics lie on all these forms and get away with it.
House of cards in this country. No GDP.
/end
☺️☺️☺️☺️
Travel while you can. Money will come back but time won't. Don't worry about the cost just do it..... whoever said this nonsense is out of touch with reality.
Damn they’ll just let any middle-aged loser be CEO these days
Not good Bob!
Dead... The numbers don't lie.
The absolute negative reporting by BNN isn’t shocking. It’s Anti-Canada, bad journalism reporting makes me wonder how they stay afloat. 😅
Brown Daniel Walker George Jones Jennifer
Modern day slavery.
BS for the time
Good job
What, it won't balance itself, but Trudeau said it would!
Hahahahahahahahahahhahahaha
unhealthy it is 😂🙄😓😓
Credit card companies need to lower their interest rates so that people can pay them off. Why should we see 22%??
No. people need to live within their means.
No. People need to learn to live within their means.
They charge stupid people 22% interest so they can give me bonus points and cash backs.
@@tijrus That is correct. However, for those that have found themselves in a position of carrying debt, having those high rates will make it so that they cannot learn their lesson and get back to living within their means. Look at how many are going bankrupt or missing payments. I think some people are using their cards to pay for their food.
Or, you know, don't borrow money if you can't make the payments.