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Discussion Starter · #1 · (Edited)
When are places going to stop gouging us and blaming it on covid and fuel prices
F'k
Need two loads of gravel priced 1 month ago so we can put the cash away and not $350 a load like last year no $450
I said WTF well fuel gone up he says ya to haul it 10 miles ?? I say
Ok called today to order is and now $490 in one month

Door catch for truck getting bad 125 when priced 6 months ago now 225
Sweet jesus
Ok rant over work to do a quick job replace the bbq lava rock rack and burner which was 79 bucks for both 6 years ago and just paid 150. How do I know that since yes I am putting the 79 dollar set on from the stash and saving the 150 new set since the bbq is 24 years old and I always keep a set extra since that bbq will die with me and soon I won't be able to get parts
hate the new ones with no lava rock
 

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Discussion Starter · #2 ·
OMG best not open any pension or RRSP statements either for mid year 2022
Like down 15% :( the one I opened so far today7 vs 6 months ago
 

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Discussion Starter · #4 · (Edited)
Only 15% you are lucky.
That is only one :( More to follow sadly :(

What is the average have you heard??

Back when the planes hit in 911 I lost 50% of my pension and it has taken over 20- years to get back to where I started pretty much
Mom was right back then should have put it into a GIC and I said that was just for old people. If I only knew
If I had my day over I would have put it into 60's and early 70's muscle cars
Take care
BBQ done :) so I guess barn cleaning time since too hot for the field and weeding
 

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I looked at my RRSP’s last week. Almost fell over. I will not look at them again for at least a year. Maybe I should drain them … pay the tax … and keep the rest under my mattress. That way the government will have no record of it.
 

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Discussion Starter · #8 ·
I looked at my RRSP’s last week. Almost fell over. I will not look at them again for at least a year. Maybe I should drain them … pay the tax … and keep the rest under my mattress. That way the government will have no record of it.
Only reason I looked is because I get statements end of july and end of jan :(. Scared to see the rest. I have then divided with four places thinking that was smart NOT
 

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Only reason I looked is because I get statements end of july and end of jan :(. Scared to see the rest. I have then divided with four places thinking that was smart NOT
Yes, that was smart! As long as you also had money in different types of funds at the different places that's all you can do really.
At this point you haven't lost value unless you sell of course. Still doesn't make looking at the statement any easier though.
All any of us can do is hang on and wait. Stocks were overvalued during covid crazy and the market has corrected. Again, doesn't make it feel any better.
If you haven't already, talk to a financial adviser at the bank to get advice on retirement/preparing to begin drawing from RRSPs.
 

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Discussion Starter · #10 ·
Yes, that was smart! As long as you also had money in different types of funds at the different places that's all you can do really.
At this point you haven't lost value unless you sell of course. Still doesn't make looking at the statement any easier though.
All any of us can do is hang on and wait. Stocks were overvalued during covid crazy and the market has corrected. Again, doesn't make it feel any better.
If you haven't already, talk to a financial adviser at the bank to get advice on retirement/preparing to begin drawing from RRSPs.
Never put enough in gold & metals IMO yes spread every where. Met with a few financial dudes when the mines closed and we had to move pensions. They were offered free toi us but I went first with london life and they sucked so been with a few others for about 18 years now
All ready drawing as much in rifts as I can per the accountant for years now
Like you say wait but when over 60 cannot wait too long and it has to be all pulled by 71 does it not ???
Wife just got her statement and lost 6% and is upset PLEASE but that is with the school board so big difference compared to old simple Joe here by himself
Cheers
 

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Never put enough in gold & metals IMO yes spread every where. Met with a few financial dudes when the mines closed and we had to move pensions. They were offered free toi us but I went first with london life and they sucked so been with a few others for about 18 years now
All ready drawing as much in rifts as I can per the accountant for years now
Like you say wait but when over 60 cannot wait too long and it has to be all pulled by 71 does it not ???
Wife just got her statement and lost 6% and is upset PLEASE but that is with the school board so big difference compared to old simple Joe here by himself
Cheers
You have to start pulling a certain percent every year at 71. You don't have to pull anything until then.
 

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Never put enough in gold & metals IMO yes spread every where. Met with a few financial dudes when the mines closed and we had to move pensions. They were offered free toi us but I went first with london life and they sucked so been with a few others for about 18 years now
All ready drawing as much in rifts as I can per the accountant for years now
Like you say wait but when over 60 cannot wait too long and it has to be all pulled by 71 does it not ???
Wife just got her statement and lost 6% and is upset PLEASE but that is with the school board so big difference compared to old simple Joe here by himself
Cheers
Gold was always pretty good in the long run.. Bought a lot back in the 80’s when it was under $500. Dumped it all in 2012 or 13. Pretty close to 31/2 times profit.
 

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Never bothered with RSP’s . When I started working you had to be 25 to pay into a pension. That changed 4 yrs later and we were allowed to buy back the missed years . Not cheap it cost me $14,200 and change but it was a payroll deduction over 5yrs. Most guys didn’t because of the cost but looking back it was the right move. 8% increase in my pension = almost 5k a year. Been gone 61/2 yrs ( I think,maybe 71/2 not sure lol ) but I already got that 14k back plus!
Always scared of the market so my only real investments were/ are GIC and mutuals
 

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Best investment I ever made was in two firearms. The return was unbelievable
 

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Never put enough in gold & metals IMO yes spread every where. Met with a few financial dudes when the mines closed and we had to move pensions. They were offered free toi us but I went first with london life and they sucked so been with a few others for about 18 years now
All ready drawing as much in rifts as I can per the accountant for years now
Like you say wait but when over 60 cannot wait too long and it has to be all pulled by 71 does it not ???
Wife just got her statement and lost 6% and is upset PLEASE but that is with the school board so big difference compared to old simple Joe here by himself
Cheers
RRSPs have to be converted to a RRIF by age 71 if I recall right.
 

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TonyM, said:
RRSPs have to be converted to a RRIF by age 71 if I recall right.


You can also convert your RRSP to an “Annuity” at 71 if you choose not to move to a RRIF.
 
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