With all this retirement talk lately...

[Dave Jones]

Same could be said for all commodities. The guy that put me on to managing my own money converted all of his RRSP's to gold about 12 years ago.

He dumped all of his gold about 2 years ago and is now happily retired.

[Dave Jones]

Garnet

 

I will get back to you in five yrs

[Garnet]

I'm sure or hope you can to well.

 

Like me you bought in the crash. I bought bank stock until I was rolling Quarters to pay for another 100 shares. I max my credit card 3 times 25 days before GIC money was available to me.

 

The majority of these people on this forum are not ready for that stuff.

 

As you are likely aware selling a profitable stock is incredibility hard, but until you do you have made nothing.

[sofabed]

Thanks for all the advice in his thread. Has anyone sold their stocks they purchased in 2008? I am looking at unloading them however what do you invest in if you sell your stocks GIC's at 2.5%? I will retire in 5 years and I am fortunate to have a full DB pension.

[irishfield]

If you don't need the money, as is evident that you want to reinvest at todays piddly GIC rates.. why would you sell ?

Edited December 7, 2014 by irishfield

[dave524]

Canadian Bank Stocks and Bell Canada Enterprises seem to pay about a 4% annual dividend , slightly better than GIC"s.

[danc]

I'm no financial genius by any means, but have been working full time in a big three trade union for over 37 years. So I'll be fine. I thought that I'd be able to retire in just over a year because we had a $500.00 a month bridging at age 58 to age 60. It's been there forever, but when my time comes up.... POOF!!! It's now gone after this year. Oh well. I have to go a couple more years but I'm seasoned enough in my trade that I can pretty much pick my own jobs. Also I have two pensions in my union. The big one that pays a set amount, and a smaller self directed one that started out with nickles and dimes, that is now worth a small fortune.

 

For you stock guys, here's my pick. RUBICON minerals. They staked the claims all around Goldcorps flagship Red Lake operation. Right from under their noses. They are going full steam ahead and are set to start producing gold next year. About a buck per share right now. These guys are going to be pulling massive amounts of gold up from the ground. I,m heading to Red Lake in the morning to have a look around.

[Old Ironmaker]

That is the only way I would ever invest in a company. I need to see the operation for myself up close. You can tell if they are serious and able to make a profit. A cousin invested 6 figures in a BC mine that turned out to be basically a Mom and Pop operation with a PO box, idiot. It's worth an airline ticket and a truck rental to take a look yourself. Show up like you want to own the place and they will give you a tour and lunch.

[Garnet]

Should you sell your stock bought in the 2008 crash?

 

This is why people lose money in the markets. Are you going to use these stocks to produce income. Are they in a volatile sector. Do you need the capital.

 

As I stated our rrsp money is set to provide a pension income for my wife. The 5 banks we hold are all up 300+% from the 08 crash along with a few other div. stocks return just over 5%. This is rock solid boring investing. When the next correction happens I will buy again.

 

Inflation can still hurt use so theirs income available for that.

 

We have 5% in high mer mutual fund front load that invests in jr oil/gas that has been crushed lately but still up 100%. My reason for paying high mer is I'm not a geologist and I don't want to spend hrs and hrs on the computer.

 

You never had a gut punch until the markets correct and you just lost 250k if you react wrong or you are in the wrong stuff.

[crappieperchhunter]

You never had a gut punch until the markets correct and you just lost 250k if you react wrong or you are in the wrong stuff.

Not that much...but in the 2008 crash we lost on paper more then we made working. That was enough of a "gut punch" for me. Thankfully we stayed the course and by March of 2009 we had got it all back plus some and have been doing great since then.

 

Between the 2 of us I think we drank enough wine that year that we could have bought a winery ourselves

[Garnet]

2008 was my 6th correction. My 1st I stayed the course and like you back to even in a few months. The last 5 correction I've bought heavily.

 

Still a gut punch.

 

I finally started buying individual about 6 months before the tec crash turned 50k into 6k with fuel cell stocks. The only good thing most of the 50k I won fishing bass tournament's and learned to build a rock solid foundation then buy high flyers.

[sofabed]

 

I am also looking at generating an income from my stocks in retirement. I have all the blue chip stocks which are paying a 4 - 6% dividend ( banks, communications, railways, reits etc). My question comes from the old saying buy low and sell high. My stocks are at all time highs and is it a good time to sell?

 

The problem is I have not been through the ups and downs in the market as I was 100% GICS until interest rates hit an all time low.

From what I see suggest is I need to get used to riding out the lows as well as invest in them. I also know its all about your risk level and what lets you sleep at night.

[Old Ironmaker]

Another reason I never got back into the market, boring. No control other than to buy and sell while risking my hard earned money to get a meager 5% to 6% return. I love control. Can't touch it, feel it, smell it, taste it, hug it, watch it grow big and strong more importantly make love and sleep in it. I like to be personal with my money, we've been through a lot together and don't want it to just disappear one night when I'm not looking.

 

I know many get exited buying and selling but I never got the bug.

[Garnet]

Well Sofa to buy in a crash you need cash on hand.

 

So that would be my ? What's your cash position. I've went from zero to about 25% that is in short term Gic.

 

The only thing I sell is SU when it gets up around $50. It didn't make it this time no worry's still the largest present in the oil sands. My avg. price paid is $29/share so no buy opp just yet. Around $24-25.

 

I slow down my div. reinvestment to get the 25% cash position.

 

Iron I also love real estate just don't like the work, no midnight phone calls, no disasters when packing for trips. I bought Rio Can it's a REIT. My wife and I own 1 sq inch of every major shopping mall in Canada. They send a nice distribution every month.

[Big Cliff]

This has been a really good thread with some real eye opening strategies from a very diverse selection of backgrounds. The one thing that has come out of it (for me at least) is that many seem to be planning or at least trying to plan so that they have unlimited financial resources for ever.

 

 

 

I am at the age now where some friends are taking that last long walk into the sunset. Some worked hard, invested wisely, scrimped and saved their whole life and in the end left a nice little pile of money to their kids and families. Sadly, while their intention was good, the results too often are that the families end up squabbling over who is going to get what and how much and it ends up getting pissed up against the wall anyway.

 

 

 

Others tended to enjoy themselves, spent what they made, made what they needed, lived for the day and left not much more than wonderful memories. The funny part is that they seemed to have the families that fared better with their passing and were sincerely missed. For some reason they were also the ones that seemed much happier with their lives. Strange world we live in!

 

 

 

I guess I am one of those people that will probably work until the day comes that I can’t put on my boots anymore. I don’t HAVE to work, we have enough equity in our home and investments that we can be comfortable with just our pensions. It might mean that we wouldn’t be able to do some of the things we enjoy like going out for dinner to a five star restaurant once in a while and we might have to budget a little more. I do enjoy the extras that I get by working and I really enjoy my job.

 

 

 

That might sound strange to some of you but we are all different, some enjoy sleeping in every day, some enjoy their afternoon naps or like watching fishing shows or soaps. Me; I like interacting with people, doing things and at the end of the day I like to feel that I accomplished something. My best days are the ones where I have been able to do something to help someone else in some way.

 

 

 

I have been very fortunate to have been blessed with two wonderful kids, a dream of a wife, many wonderful friends and good health. God saw fit to give me the ability and opportunity to experience many of the wonders of this world. I wake up every morning wondering what today will bring not how much money will I make or lose today. It doesn’t mean I don’t have some bad days but it’s never about money!

 

Edited December 9, 2014 by Big Cliff

[bigugli]

This has been a really good thread with some real eye opening strategies from a very diverse selection of backgrounds. The one thing that has come out of it (for me at least) is that many seem to be planning or at least trying to plan so that they have unlimited financial resources for ever.[/size]

 

 

 

I am at the age now where some friends are taking that last long walk into the sunset. Some worked hard, invested wisely, scrimped and saved their whole life and in the end left a nice little pile of money to their kids and families. Sadly, while their intention was good, the results too often are that the families end up squabbling over who is going to get what and how much and it ends up getting pissed up against the wall anyway. [/size]

 

 

 

Others tended to enjoy themselves, spent what they made, made what they needed, lived for the day and left not much more than wonderful memories. The funny part is that they seemed to have the families that fared better with their passing and were sincerely missed. For some reason they were also the ones that seemed much happier with their lives. Strange world we live in![/size]

 

 

 

I guess I am one of those people that will probably work until the day comes that I can’t put on my boots anymore. I don’t HAVE to work, we have enough equity in our home and investments that we can be comfortable with just our pensions. It might mean that we wouldn’t be able to do some of the things we enjoy like going out for dinner to a five star restaurant once in a while and we might have to budget a little more. I do enjoy the extras that I get by working and I really enjoy my job. [/size]

 

 

 

That might sound strange to some of you but we are all different, some enjoy sleeping in every day, some enjoy their afternoon naps or like watching fishing shows or soaps. Me; I like interacting with people, doing things and at the end of the day I like to feel that I accomplished something. My best days are the ones where I have been able to do something to help someone else in some way.[/size]

 

 

 

I have been very fortunate to have been blessed with two wonderful kids, a dream of a wife, many wonderful friends and good health. God saw fit to give me the ability and opportunity to experience many of the wonders of this world. I wake up every morning wondering what today will bring not how much money will I make or lose today. It doesn’t mean I don’t have some bad days but it’s never about money![/size]

 

 

Now there is a man that has it figured out.

 

It took a mass coronary at age 40, to come to much of that realization myself. Yes ,I lost a pension, and my RRSP is worth squat. Thems the breaks. I still have a roof over my head. I am kept very busy, and have more than enough to live by as long as I stay within budget.

[manjo39]

This has been a really good thread with some real eye opening strategies from a very diverse selection of backgrounds. The one thing that has come out of it (for me at least) is that many seem to be planning or at least trying to plan so that they have unlimited financial resources for ever.

 

 

 

I am at the age now where some friends are taking that last long walk into the sunset. Some worked hard, invested wisely, scrimped and saved their whole life and in the end left a nice little pile of money to their kids and families. Sadly, while their intention was good, the results too often are that the families end up squabbling over who is going to get what and how much and it ends up getting pissed up against the wall anyway.

 

 

 

Others tended to enjoy themselves, spent what they made, made what they needed, lived for the day and left not much more than wonderful memories. The funny part is that they seemed to have the families that fared better with their passing and were sincerely missed. For some reason they were also the ones that seemed much happier with their lives. Strange world we live in!

 

 

 

I guess I am one of those people that will probably work until the day comes that I can’t put on my boots anymore. I don’t HAVE to work, we have enough equity in our home and investments that we can be comfortable with just our pensions. It might mean that we wouldn’t be able to do some of the things we enjoy like going out for dinner to a five star restaurant once in a while and we might have to budget a little more. I do enjoy the extras that I get by working and I really enjoy my job.

 

 

 

That might sound strange to some of you but we are all different, some enjoy sleeping in every day, some enjoy their afternoon naps or like watching fishing shows or soaps. Me; I like interacting with people, doing things and at the end of the day I like to feel that I accomplished something. My best days are the ones where I have been able to do something to help someone else in some way.

 

 

 

I have been very fortunate to have been blessed with two wonderful kids, a dream of a wife, many wonderful friends and good health. God saw fit to give me the ability and opportunity to experience many of the wonders of this world. I wake up every morning wondering what today will bring not how much money will I make or lose today. It doesn’t mean I don’t have some bad days but it’s never about money!

 

 

Very well said Cliff. I always remind myself to savour every moment I have with my family and friends. It makes the fishing outings that much more special.

[fisherman7]

A friend of mine once told me "the years between 55 and 65 are far better than those between 65 and 75". As I approach 55, I'm getting out as soon as I can.

[Old Ironmaker]

I spent a while at the hospital yesterday with one of my dearest friends saying goodbye. I saw him a month ago when he called with bad news. 2 month ago he had a pain in his chest and now 70 pounds latter hasn't much time left. I was telling him about this exact thread. He cringes thinking about the time he wasted worrying about the future.

 

He still has his humour, 2 young women came in to take him for his physio, he told them to get lost, he isn't planning on walking to the morgue.

[Garnet]

It's all balance. We don't live for work or investment. I fish travel and look after my parents. Well the wife works, she thinks shopping is a sport.

[ch312]

Real estate is where it's at. Let someone else pay off your properties for you and when the mortgage is paid off let them pay for your new boat and fishing gear.

 

We're taking the dive next summer renting our current home with no mortgage and buying a larger home where the basement can be turned into a legal rental unit. We'll let both rentals help pay off our mortgage and then use the equity from both properties to buy our "we'll die here" home. We'll then have 3 rental units paying off our mortgage. When the tenants are done paying for my nice house their money will then be diverted into my retirement account where it will grow quickly and for as long as I can deal with the headaches.

 

 

 

Once the first property is paid off you're golden.