Home » Public Forums » GMCnet » [GMCnet] Another Optimistic Canadian
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Re: [GMCnet] Another Optimistic Canadian [message #67940 is a reply to message #67881] |
Mon, 21 December 2009 07:11 |
storm'n
Messages: 492 Registered: April 2007 Location: Ont. Can
Karma: 0
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Senior Member |
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Oh yes our investments were affected. That's why we're still coachless 2 1/2 years after I retired. & it's eh, not huh.
--- On Sun, 12/20/09, Ken Henderson <ken0henderson@gmail.com> wrote:
Maybe their investments weren't as affected as most, huh?
Ken H.
On Sun, Dec 20, 2009 at 6:57 PM, scott cowden <scottyforsail@hotmail.com> wrote:
> Heck, Ken;
> You don't hardly know from optomistic....
>
> There's a '77 Royale in the local Auto Trader for $27k!! I know the coach and the former owner and 3 years ago, it would have easily sold for that, but with prices lately......
>
> It's a shame what an 'economic correction' can do, huh?
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Re: [GMCnet] Another Optimistic Canadian [message #67969 is a reply to message #67944] |
Mon, 21 December 2009 11:39 |
storm'n
Messages: 492 Registered: April 2007 Location: Ont. Can
Karma: 0
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Senior Member |
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I'm 1 step ahead of you Bruce. Already sold & retired. But remember this,when you sell your business, there's no capital gains tax on your first $500,000.00 of the sale price. Put it in a cash account retirement savings & draw your pension from that. You only pay tax on the interest on the portion you withdraw, just like taking money out of your bank savings. You don't have to declare it as income[only the int.] & then might qualify for the supplement old age. That would buy gas for the GMC.
Norm
Bowmanville On.
--- On Mon, 12/21/09, Bruce Hislop <bruce@perthcomm.com> wrote:
So G'day Eh?
I look at it this way....
I bought my coach just before things went to HE..double hockey sticks. Could have saved 1/3 to 1/2 by waiting (if I would have known), but I would be using savings that have dropped in value by 1/3... so in the end I used the same portion of my savings to buy the coach.
Now if I was schmart, I would have pulled out of the market because I was getting uneasy about things... but I had been uneasy about the markets for the past several years but it kept going up!
What cheeses me is that I'm not allowed to used my RRSP's (retirement savings) to invest in my own companies. I'm forced to put it in a market full of thieves and con artists.
--
Bruce Hislop,
S. Ontario Canada
77PB, 455
http://www.gmcmhphotos.com/photos/showgallery.php?cat=500&ppuser=1906
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