Comments on: A Nest, Not A Nest Egg http://www.canadiancapitalist.com/a-nest-not-a-nest-egg/ Helping you invest and prosper Sat, 11 Feb 2012 19:27:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Nine Lessons Relearned from the Financial Meltdown | Canadian Capitalist http://www.canadiancapitalist.com/a-nest-not-a-nest-egg/#comment-200593 Nine Lessons Relearned from the Financial Meltdown | Canadian Capitalist Mon, 21 Sep 2009 01:29:55 +0000 http://www.canadiancapitalist.com/2006/12/19/a-nest-not-a-nest-egg#comment-200593 [...] prices trending upward year after year, a lot of investors fell into the trap of thinking of their home as an investment that could somehow be used to fund a retirement. The collapse of home prices in the United States is once again a reminder that homes are not [...] [...] prices trending upward year after year, a lot of investors fell into the trap of thinking of their home as an investment that could somehow be used to fund a retirement. The collapse of home prices in the United States is once again a reminder that homes are not [...]

]]> By: Canadian Capitalist » RRSPs are (Mostly) a Good Thing http://www.canadiancapitalist.com/a-nest-not-a-nest-egg/#comment-17733 Canadian Capitalist » RRSPs are (Mostly) a Good Thing Tue, 16 Jan 2007 04:11:35 +0000 http://www.canadiancapitalist.com/2006/12/19/a-nest-not-a-nest-egg#comment-17733 [...] Mr. Stanford may not have noticed but workplace pensions are going the way of the dodo, replaced either by defined contribution plans (for the lucky employees of a few big corporations) or none at all for the majority of Canadians. For many of us, our RRSPs, not our homes, are our pension plans and having one doesn’t have to mean lining Bay Street’s pockets at our expense. [...] [...] Mr. Stanford may not have noticed but workplace pensions are going the way of the dodo, replaced either by defined contribution plans (for the lucky employees of a few big corporations) or none at all for the majority of Canadians. For many of us, our RRSPs, not our homes, are our pension plans and having one doesn’t have to mean lining Bay Street’s pockets at our expense. [...]

]]> By: Matt http://www.canadiancapitalist.com/a-nest-not-a-nest-egg/#comment-14865 Matt Wed, 20 Dec 2006 20:46:40 +0000 http://www.canadiancapitalist.com/2006/12/19/a-nest-not-a-nest-egg#comment-14865 What I think you'll find is that people are tapping into the equity in their homes because they haven't prepared for retirement. They worked and worked but spent just as fast. Now they own their home but have nothing to live off of in retirement. So they start pulling money out of the equity in their home to survive. I agree it's a horrible idea and I'd never do it; I'd rather go back to work. What I think you’ll find is that people are tapping into the equity in their homes because they haven’t prepared for retirement. They worked and worked but spent just as fast. Now they own their home but have nothing to live off of in retirement. So they start pulling money out of the equity in their home to survive. I agree it’s a horrible idea and I’d never do it; I’d rather go back to work.

]]> By: Phil S http://www.canadiancapitalist.com/a-nest-not-a-nest-egg/#comment-14847 Phil S Wed, 20 Dec 2006 17:12:22 +0000 http://www.canadiancapitalist.com/2006/12/19/a-nest-not-a-nest-egg#comment-14847 Those statistics explain the popularity of the reverse mortgages that Gordon Pape is now busy peddling. I always used to ask myself what moron would allow themselves to be taken in by these home equity loans? What they're doing is essentially buying a futures contract on your house. They give you half of what your house is worth, then wait for interest to eat up the other half and then toss you out on the street. Those statistics explain the popularity of the reverse mortgages that Gordon Pape is now busy peddling. I always used to ask myself what moron would allow themselves to be taken in by these home equity loans? What they’re doing is essentially buying a futures contract on your house. They give you half of what your house is worth, then wait for interest to eat up the other half and then toss you out on the street.

]]> By: Canadian Dream http://www.canadiancapitalist.com/a-nest-not-a-nest-egg/#comment-14835 Canadian Dream Wed, 20 Dec 2006 12:30:51 +0000 http://www.canadiancapitalist.com/2006/12/19/a-nest-not-a-nest-egg#comment-14835 "an unwillingness to downsize to a home in a lower price range" I personally have seen this is the true killer for most people who plan to use their home for retirement funds. You can't expect granite tile and a perfect paint job in your house when your downsizing. Also when you do fix it you have to keep in mind that your home is still an assest and you don't want to invest too much of your downsizing cash into it. CD “an unwillingness to downsize to a home in a lower price range”

I personally have seen this is the true killer for most people who plan to use their home for retirement funds. You can’t expect granite tile and a perfect paint job in your house when your downsizing. Also when you do fix it you have to keep in mind that your home is still an assest and you don’t want to invest too much of your downsizing cash into it.

CD

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