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Expressing Opinions
November 13, 2014
4:44 am
Greg Franklin
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November 4, 2014
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I don't know who anyone really is on this forum or any forum. The internet gives people a place to write whatever they want. This goes for everyone not just me.

They are just opinions and have no meaning and impact on my life. I understand that a post keeps going and going and must end some time but if anyone thinks that I take what anyone on a screen writes will or can sway what I believe in and experienced then they are wasting their time.

I look forward to to discussing more topics as this is just a way to pass time like watching television, movies, playing computer games etc.

By the way, any money we have was from saving, investing our hard work and we never play or played the lottery or won anything in our life. It is from our own merits and decisions and is not from a game, gambling or from some other idea of unrealistic expectations.

Have a good day and good luck.sf-smile

November 13, 2014
7:51 am
Loonie
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October 21, 2013
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I appreciate the clarification, Greg. I obviously misunderstood when you said in another thread that you were "open to suggestions". I mistakenly thought you wanted some ideas that might indeed "have an impact on your life," once you thought them through.

My view is different. I am not here simply as a way to pass the time. I'd rather waste my time in other ways, if it comes to that. I don't watch much TV, never play computer games, etc. I take people's inquiries seriously and attempt to provide the best answers I can, and I try to ensure that we are, to the extent possible, dealing with reasoned arguments.
While everything that is presented here should be checked out before being acted upon, the forum does provide a place to test ideas and get news that might otherwise be missed. There are people here who know more about certain things than I do, for sure! And it is my impression that most of them are here for similar reasons to my own.

Based on what you have said, Greg, I will not likely waste my time reading or responding to any more of your posts, and I hope you will do me the favour of not responding to mine, although I can't stop you. We are not on the same page at all.

Good day.

November 13, 2014
8:26 am
Greg Franklin
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November 4, 2014
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Loonie, this is an internet forum, it is not an financial adviser convention or any professional setting with other financial based professions like accountants, tax lawyers, financial planners, mortgage brokers etc. exchange their points of view.

If anyone takes what is said on this forum as truth then they better not because if we were all financial experts or analysts, we would be working in the field and getting paid for it.

Loonie, when you suggest something on this forum and someone has a different view that is your right to agree or disagree but don't expect people to always agree with you. Just because I did not agree with you does not mean I am not open to suggestions. This is not true. I don't like your opinions on my particular situation, that is all. It is nothing personal.

I think you take expressing your views on this forum too seriously as we are all strangers on the internet and have no idea what to make of any posts and what information they contain.

Everyone has to check all information no matter where they get it from. This is just common sense. Just remember, if anyone disagrees with any person's post on this forum, they have right to express their opinion in a respectful manner. I did not disrespect anyone here.

Have a good day and all posts here can be read or not, it is up to anyone what they want to read.sf-smile

November 14, 2014
7:20 am
SlowPoke
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September 17, 2014
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GF Your comments seem just a little bit contradictory

"but if anyone thinks that I take what anyone on a screen writes will or can sway what I believe in and experienced then they are wasting their time."

then

" Just because I did not agree with you does not mean I am not open to suggestions."

Of course this is not professional licensed advice, it is an open Internet Forum, Community, Coffee Shop talk, etc etc,

The way I understand the intent of this forum is to share experiences and help each other out, with serious responses and opinions but not professional licensed advice

Maybe you think Loonie is a tad serious, take his opinions as is, and of course you are all responsible for your own choices

On the other hand with your statements above how can anyone take any of your comments serious at all? Why would anyone bother to read them or respond to them?

Cheers

November 15, 2014
1:33 am
Greg Franklin
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November 4, 2014
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Slowpoke, you can have an opinion and I am not going to be disappointed or angry against you. I have been respectful and honest about our situation and experiences but people can believe what they want.

This is a forum and we should discuss matters in a manner that should be bringing opinions and ideas of all types.

By someone telling us that we have a bad plan and he or she thinks this is going to help us is making assumptions that could actually put off the discussion. A pros and cons approach would maybe be more helpful of differing opinions or view points.

We are just writing back and forth through a computer screen and we don't really know who or what we are exchanging words with. Anyone on this forum and on the internet should not take things at face value.

I bring information that maybe of need or interest to someone but it does not mean that anyone has to respond to me. They have a choice to do whatever they want with it. Take it seriously or not. It is up to them.

I am sure there are many readers on this forum that never respond and just read posts to see what people are saying.

Take care SlowPoke and get as much opinions, view points and information, facts as you can.sf-smile

November 15, 2014
8:00 am
Peter
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May 15, 2007
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Greg Franklin said

A pros and cons approach would maybe be more helpful of differing opinions or view points.

That is a very good point, Greg. If you disagree with somebody, be extra careful to stick with a discussion of the pros and cons rather than making comments about the person / people involved.

November 15, 2014
9:02 am
Greg Franklin
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November 4, 2014
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Peter, this is what we do with our adviser every time we meet with him. We compare current pros and cons about our current situation and then using an IF analysis of possible future changes.

My general discussion about our situation is trying to protect our income by limiting any possible future interest rate decreases or comparing it to longer term options that pay higher current interest rates.

For example, 2.80% to 3.00% versus 3.79%. I don't want to get into a long list of examples and comparisons as I already did this in many of my prior posts but I am respectful and honest with our current situation.

My recent disability and my deep loss of 75% of my income has made us more preoccupied about our financial affairs.

Thanks, Peter for responding and take care.sf-smile

November 15, 2014
4:46 pm
Norman1
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April 6, 2013
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Greg Franklin said
...
My general discussion about our situation is trying to protect our income by limiting any possible future interest rate decreases or comparing it to longer term options that pay higher current interest rates.

For example, 2.80% to 3.00% versus 3.79%. I don't want to get into a long list of examples and comparisons as I already did this in many of my prior posts but I am respectful and honest with our current situation.

My recent disability and my deep loss of 75% of my income has made us more preoccupied about our financial affairs.
...

Be careful with those long-term 20-year or 30-year bonds and strips, Greg. They are very risky for individuals who use them to fund living expenses. Make sure you're comfortable with the risk being taken on. One can better appreciate the risk if one thinks purchasing power instead of dollars and cents.

If I invest in such long-term fixed income instruments, I will be taking on inflation risk over the 20-year or 30-year term. I wouldn't do it. I would not lock in 3.79% per year pre-tax for the next few decades when inflation is now running around 2% per year. Just not enough of a margin of safety between the after-tax return and inflation.

Bank of Canada's target inflation band is 1% to 3%. Should inflation rise to 3%, I would lose purchasing power every year, after taxes, for the next twenty to thirty years, at 3.79%.

I don't give much weight to those negative interest rates in places like Germany. The situation there is different. Those negative rates are from banks having too much deposit money and not enough lending.

According to the The Economist: Worse than nothing, Germans have over €2 trillion (over C$2,800 billion) in savings accounts alone:

German savers are a strange lot; they shun stocks, bonds and houses, instead parking over €2 trillion in ordinary savings accounts. In other words, they are cautious to a fault. Some think that banks are simply flogging high-commission products; others that speculating in stock and property markets is a form of shameful gambling.

That's not a problem we have here in Canada. In contrast, CDIC-insured deposits (which include savings accounts, term deposits, and one- to five-year GIC's) are around C$665 billion according to CDIC's 2014 Annual Report.

It would be great to find one day that Canadians have paid off their credit cards, mortgages, lines of credit, and other loans and socked $2 trillion into savings accounts. But, I don't think that's going to happen anytime soon.

November 15, 2014
5:40 pm
Jon
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August 9, 2014
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Norman, thats exactly the reason why Eurozone is in crisis, Germany are lending money they earn from the outskirt countries in the zone via trade surplus back to thous countries, that's the reason why they have gov-going-bankrupt crisis and real estate bubble bursting as soon as the market become more risk-adverse after 2008.
(read some of my post I wrote to Jack before)

Greg, I have a very different opinion from Norman here, as most common people doesn't feel the economic growth, they won't spend more and hence, inflation rate, along with economic growth will not likely to pickup as consumption is the largest part of GDP and rise in GDP means rise in inflation (there are exception), so I am not afraid of inflation, at least for a very longtime. I think it is OK to lock into 3.79% right now, consider wealth and income inequality is so big and poorer people tend to spend more portion of their income, which imply we won't see any impressive growth as recovery is only felt by the wealthy one.

November 15, 2014
10:45 pm
martin14
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December 2, 2012
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I guess it comes down to this:

If you think Canada will enter a Japanese style long term slow growth period, locking in at 3-4% may be a good idea.

If you think normal growth, inflation, and interest rates will come back, then maybe a shorter
term is better.

I think people who bought long term bonds and GICs when interest rates were 20%
have been laughing for a long time. :)

November 15, 2014
10:51 pm
Peter
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May 15, 2007
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Hi everybody -- I'm going to close this thread, as the discussion has strayed significantly from the original topic. Please open a new thread if you'd like.

Please write your comments in the forum.