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DS
Guest
DS

@23: TurtleHead;

Please do not take my thumbs down vote on your submission as a negative on your part. It is a response vote to the douche-bag!

@22 Landbaron;
Yes I saw that, but I was afraid to raise that one. Knowing what BC’s Child Welfare system is like I was very seriously worried about raising any concern of starving or malnurished children. I’d hate to be the reason for BCCW going to take the children away from Julian and Sarah.

DS
Guest
DS

To Julian and Sarah;

OOPS!!

Sorry.

Francois
Guest

Thank you for re-publishing one of our case study. We certainly appreciate all your inputs and we will definitely take this into account when we update this section.

Also please feel free to send us your “cost of living” case study regarding your experience in Vancouver and we will publish the most relevant ones (email – info@2vancouver.com).

We look forward to your feedback!

Francois Roux
Director and Co-Founder @ 2Vancouver.com

groundhog
Guest
groundhog

I shop in Langley, only buy meat on sale, buy in bulk and freeze/store what I can and generally look for sales. I spend about $220/month on groceries. I would expect prices in Kits and Vancouver in general to be much higher, even if you tried to be cheap.

The amount for entertainment expenses is also laughable for Vancouver.

Sensible
Guest
Sensible

TurtleHead:

That’s the problem with Garth’s website. He has brainwashed the sheep there and everyone is ready to sell their homes and hand over their proceeds to his wealth management company. He is preying on the uninformed.

elvince
Guest
elvince

Funny how none of those people can possibly contribute a dime to their rrsp or tsfa.

Actually, I don’t think anyone bothered to count their CPP or UE contributions, or unions fees.

jesse
Member

So a big question is whether $190/month for groceries is possible. If this is student lifestyle the question to be asked is not if this student can live “well” it’s whether she can live at all of $190/month.

$190/month is about $50/week for food. With respect, that is possible for one person. It means a few trips to Superstore, buying on sale, and cooking in bulk. Can someone tell me how this is not possible?

TurtleHead
Guest
TurtleHead
@Sensible: I wouldn’t go that far. I don’t mind that he is trying to get clients. I think he has some great observations and gives some good advice, but mixes it with some incredibly questionable advice that is confusing as to his logic. He has pushed Bank Preferred and REITs incredibly hard, which seems to me very counter intuitive. On one hand Garth argues that Canadians are incredibly in debt and and will soon wind upside down on their mortgages. Yet in the other hand he recommends you buy the stocks of the very companies that own those debts. Ben Rabidoux has graphs the illustrates this perfectly. He advocates buying REITs, which can be a good investments and have preformed incredibly well the last several years because the 10 year rate is historically low. At the same time, the REITs… Read more »
elvince
Guest
elvince

@Jesse: I’m ok with the 170$/month for a student. It’s not much, but you can live on that as a student for a few years, especially if you count that mommy will feed you during week-ends and holidays.

What I can’t possibly believe is 525$/month for 2 adults and 2 kids. Tha averages to 130$/month per head. That’s 4.35$/day, which is less than food stamps in US. For Pete’s sake, the other couple allegedly spends 500$/month, so it would mean both kids eat for 25$/month total? Call Child Protective Services…

It might be possible to feed a family of 4 with 525$/month. But if you’re gonna cut on food while you drive around in a truck that cost 1000$/month, you need to re-check you priorities imho.

Makaya
Member
Makaya
@TurtleHead: it wouldn’t be the first time that Garth would give “untimely” financial advice: … For the record: November 20, 2000: After Nortel has fallen 50% in a month and trading $40: “So, here’s a strategy: If you own Nortel, or a mutual fund holding it, don’t bail out now. We are near, but not at, the low point. If you do not own Nortel, then this is the time to start accumulating it, or a good science and technology fund with exposure to the company. If you’re a gambler, then roll the dice and leverage. If you’re a wimp, don’t read or watch any news for the next six weeks.” (NT changed hands at $2.60 today). December 4, 2000: Mr. Turner is wildly bullish on equities and is dismissive of an email from a financial advisor who is suggesting… Read more »
patriotz
Member

@TurtleHead:
I think the dividends on bank preferreds are pretty safe. They must be paid as long as any dividend is paid on the common, and no major bank has suspended divdends since the 1930’s. In fact no major bank cut dividends on the common in 2008.

The problem is that the share prices on the preferreds can fluctuate a lot with the financial outlook (e.g. 2008) or expected inflation. This makes them a bad asset to hold if you must be able to sell without a loss at any time, or are likely to get scared and sell if prices fall.

patriotz
Member

@Makaya:
” While some ETFs can be fine, they are just another form of derivatives ”

No they are not. They own actual stocks.

Makaya
Member
Makaya

@patriotz: Here is a definition of a derivative from Wikipedia:

A derivative is a financial instrument whose value is based on one or more underlying assets. In practice, it is a contract between two parties that specifies conditions (especially the dates, resulting values of the underlying variables, and notional amounts) under which payments are to be made between the parties. The most common types of derivatives are: forwards, futures, options, and swaps. The most common underlying assets include: commodities, stocks, bonds, interest rates and currencies.

Now explain me how ETFs are not derivatives.

jesse
Member

@Makaya: If you read what you quoted, you just explained it to yourself.

Extend and Pretend
Guest
Extend and Pretend
@TurtleHead: Questions About Garth’s Advice Is Garth an advisor or is he a fund manager? If he’s providing advice like buy signal, does he ever provide sell signals on anything other than RE? Healthy returns from remarketed bonds and a few concentrated dividend stocks is good, but is there any sort of stop loss sell advice that is offered? Is it just buy and hold for distributions? If there are no sell signals, how is it different than mortgage lenders and realtors who want your transaction fees by providing long only advice? Bonds and stocks can decline in value, can’t they? Garth has some good advice about RE, but there may be a conflict of interest in his other advice. Those neighborhood brokerages like Edward Jones and the like have a collateral book that needs to be lightened up from… Read more »
RaggedyRenter
Guest
RaggedyRenter

$525/month for groceries aren’t too out of line.
We are also a family of 4 and we spend about $600.
We dine out about 3-4x a week and categorized that under a different category (same as this family). Granted our kids are still very young, and we almost never bought preprocessed food. Fresh veggies, fruits and meats don’t cost a lot. We make sure kids get their daily milk, juice, cheese, veggies, yoghurt, fresh fruits. I don’t think they’re malnourished. They probably get less colas, candies, chips, preprocessed meat, frozen pizzas than the average kid but they can’t complain yet.
We don’t really do price comparison, buy stuff in the US and couponing so I can imagine someone who’s doing all of the above would be able to whittle it down to $525 a month.

data junkie
Guest
data junkie

If you are looking for an analogy, an ETF is more like a mini mutual fund than a derivative. It’s just a basket of shares from a few companies, usually focused on one industry, e.g. mining, airlines, REITs, etc.

Buying ETFs is just a convenient way to buy shares in a few companies all at once, and minimizes your exposure a bit in the event one of those mining shares goes all Bre-X on you.

jesse
Member

@Makaya: The line between derivatives and underlying assets is if there is not a 1-1 relationship between holding the asset and the contract itself. In the case of ETFs, in practice, you get whatever it produces — it’s a “pass through” contract and not really a derivative. In other words you are a de facto owner of the assets.

vanpire
Guest
vanpire

@elvince:
True, the taxes listed are just that – taxes. So no CPP or UI contributions are included, no RRSPS or other taxable benefits such as extended healthcare, dental etc seem to be considered. In which case their budgets should include allowance for prescription medication, dental, vision care etc. which can drive you to bankruptcy all on their own, if paid out of pocket

vanpire
Guest
vanpire

@vanpire:
Oh, and how about them property taxes?

groundhog
Guest
groundhog

Although ETF’s come in all shapes and forms they are not generally derivatives. When you start looking at leveraged ETFs and short ETF’s then these make use of derivatives, but not the run of the mill market index or specific industy ETF.

vanpire
Guest
vanpire

@vanpire:
And of course all student loans are paid off and other debt is non-existent. That sure doesn’t sound like an average household (which is thousands upon thousands in non-mortgage debt)

mac
Member
mac
@southseacompany: Haha. Ian Watt says, “You made a stoopid purchase 2 or 3 years ago.” Who sold them this stupid purchase saying it was a solid investment, if not real estate agents like Ian Watt. I remember him saying prices won’t go down much. Now he says, “owners have suffered a significant drop.” Then he says “don’t sell. Go long–twenty years.” An investment that takes 20 years to make an ROI? Are you kidding me? If it was a stock, you’d drop it and make up the slack elsewhere. Easy advice to give. Hard to take, especially if you’re not holding a large portfolio of real estate you’ve bought over the past decade. I pity the suckers who turn to these agents thinking it’s financial advice. I can’t tell you how many cafes and restaurants we’ve been in where we’ve… Read more »
squeako
Guest
squeako
On the micro economy level, meaning your personal finances: Sure there are ways to “beat the system” as I call it, it is not as horriblis as many have assumed it is. Just go to frugal sites, and there are plenty of fun/clever tips on saving money, including food. The fun thing is that you get to be creative/inventive and rewarded with savings. I have some theories on the skinny in Kits: People are more appearance conscious; hip part of town. Isnt this the cool part of Vancouver? So you need to be enrolled in yoga/pilates/aerobics at least. Organic food cost more, therefore you have to eat less, you eat less so you can look hip/cool/hot etc. On this level of income, looking hip, you attract guys that are willing to open their wallets..? Maybe the skinny thing is part… Read more »
bonfire
Guest
bonfire

so Gold ETF units have ALL underlying physical gold as asset?