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Old Mar 26th 2018 | 8:15 am
  #136  
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Default Re: Sort of retirement plan

Originally Posted by BristolUK

Need to get it right though. Might make it worse.
True, but I'll get it right.
 
Old Mar 26th 2018 | 8:42 am
  #137  
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Default Re: Sort of retirement plan

Fred drift, but how on earth do American prisons find it difficult to execute people with an injection? I reckon every cell in the country probably contains enough shit to kill a buffalo.
 
Old Mar 26th 2018 | 9:04 am
  #138  
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Default Re: Sort of retirement plan

Originally Posted by Jerseygirl
Yup...that would be my way out...or a trip to Switzerland, Oregon etc.
Isn't medically assisted death available in Canada as well?
 
Old Mar 26th 2018 | 9:09 am
  #139  
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Default Re: Sort of retirement plan

Originally Posted by Jsmth321
Isn't medically assisted death available in Canada as well?
Yes, but likely only for terminal illness, needing various processes and conditions as opposed to simply not wanting to go into care, losing various abilities.
 
Old Mar 26th 2018 | 9:11 am
  #140  
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Default Re: Sort of retirement plan

Originally Posted by Jsmth321
Isn't medically assisted death available in Canada as well?
Yes but not if you have dementia as you have to consent
 
Old Mar 26th 2018 | 11:20 am
  #141  
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Default Re: Sort of retirement plan

Originally Posted by Jsmth321
Does the system in Canada provide funding for seniors who can no longer care for themselves but have no funds or family.

Its just me and my wife and one of us will die before the other and as we have no kids there wil be no family around in our old age as our parents will be gone by then.
I had a friend who died late 2016. He had no work pension. With his and wife’s OAP, CPP, they qualified for GAINS assistance, and GIS. They had a total gross income of about $25,000 p/a and a small but very comfortable, subsidized one bedroom apartment at $525 monthly. Believe it or not they lived quite well. Not frugally but carefully. Ran a small car, took vacations. So, it’s not always how much you earn/get but more what you do with what you earn/get.
 
Old Mar 26th 2018 | 11:58 am
  #142  
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Default Re: Sort of retirement plan

Originally Posted by plasticcanuck
I had a friend who died late 2016. He had no work pension. With his and wife’s OAP, CPP, they qualified for GAINS assistance, and GIS. They had a total gross income of about $25,000 p/a and a small but very comfortable, subsidized one bedroom apartment at $525 monthly. Believe it or not they lived quite well. Not frugally but carefully. Ran a small car, took vacations. So, it’s not always how much you earn/get but more what you do with what you earn/get.
But could they have lived well paying market rent?
 
Old Mar 26th 2018 | 12:11 pm
  #143  
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Default Re: Sort of retirement plan

Originally Posted by plasticcanuck
...qualified for GAINS assistance...
I'd never heard of that.

Ontario and between $2.50 and $83 a month.

NB does a low income seniors benefit too. It's $400 for the year paying GIS recipients and OAS recipients 60-64.

My MIL missed it last year because, as is typical, it's not well publicised. I discovered it while browsing a magazine for seniors. An article, not an advert.

I've never seen it mentioned in the newspaper and having spent 30 odd years dealing with this sort of thing, it interests me and I'd expect to see it.
 
Old Mar 26th 2018 | 7:49 pm
  #144  
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Default Re: Sort of retirement plan

Originally Posted by Jsmth321
Seems to be more and more common. My mom likely can never retire, my dad was lucky in getting a school district job in 1978 which comes with retirement benefits and spent 38 years there so was able to retire at 58 last year.

Old age scares me as I have no ide how ill survive once I cant work.
there are minimum income guarantees for seniors in Canada, province by province

examples for two

BC

https://www2.gov.bc.ca/gov/content/g...ent-rate-table

Ontario

https://www.ontario.ca/data/guarante...-benefit-rates
 
Old Mar 27th 2018 | 1:49 am
  #145  
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Default Re: Sort of retirement plan

I didn't read all the posts but the ones that I read were mostly about investing in residential units for rental income. But has anyone suggested investing into commercial property?

Some of the pros that I know are higher returns per sq. foot, less maintenance requirements, property taxes and condo fees are mostly the tenant's responsibility, and above all you can chuck the tenant out much more easily in case of problems since the law favours the landlord as opposed to residential tenancy agreement which mostly favour the tenant. Thoughts?
 
Old Mar 27th 2018 | 2:29 am
  #146  
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Default Re: Sort of retirement plan

Originally Posted by Edo
I didn't read all the posts but the ones that I read were mostly about investing in residential units for rental income. But has anyone suggested investing into commercial property?

Some of the pros that I know are higher returns per sq. foot, less maintenance requirements, property taxes and condo fees are mostly the tenant's responsibility, and above all you can chuck the tenant out much more easily in case of problems since the law favours the landlord as opposed to residential tenancy agreement which mostly favour the tenant. Thoughts?
I did look, but not as serious as I should have, will look again me thinks
 
Old Mar 27th 2018 | 2:55 am
  #147  
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Default Re: Sort of retirement plan

Originally Posted by Edo
But has anyone suggested investing into commercial property?

Some of the pros that I know are higher returns per sq. foot, less maintenance requirements, property taxes and condo fees are mostly the tenant's responsibility, and above all you can chuck the tenant out much more easily.
Maybe it's a better deal if rented. But if not rented, what then? People always need somewhere to live, they don't always need somewhere from which to run a business.

And if you evict a commercial tenant, how long before you start getting an income again?
 
Old Mar 27th 2018 | 3:42 am
  #148  
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Default Re: Sort of retirement plan

Originally Posted by magnumpi
I did look, but not as serious as I should have, will look again me thinks
Just to blend the themes of the thread. I have some dealings with an estate agent who specializes in nursing homes. According to him, running a nursing home is not for the faint hearted nor for people who haven't worked in one. "The staff will rob you blind, you'll run out of money, and then I'll have to sell it again" he said, gleefully.
 
Old Mar 27th 2018 | 11:41 pm
  #149  
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Default Re: Sort of retirement plan

Originally Posted by BristolUK
There's something about Fridays here. My doc used to not 'do' Fridays and their answering machine was similar.

Are you throwing in your fancy coffee machine?
Are you satisfied with your realtors? (Phil Albert did well for me, although I sold the duplex at a loss price-wise. Fortunately the rental income more than made that up)
Not much help when you work Sun - Thurs Dr, Dentist and Osteopath dont work Fridays!

I would throw in the Mrs and a kidney for a sensible offer at this point ..... But not the coffee machine

We are on our second realtor which has yielded more viewings but I think that its more a question of it being a buyers market. I wish that they would stop building so many houses as its compounding the problem and depressing prices of existing stock.
 
Old Mar 27th 2018 | 11:44 pm
  #150  
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Default Re: Sort of retirement plan

Originally Posted by Jingsamichty
I can't understand how people worry about surviving 'once they can't take care of themselves any more'. That's what the good bottle of whisky and the family pack of sleeping pills are for.
Bugger that - do it spectacularly before it gets that far
 


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