tag:blogger.com,1999:blog-5465015914589377788.post6219251080366741386..comments2024-02-17T11:07:06.232-05:00Comments on Michael James on Money: Short Takes: Gold a Pet Rock, Rent vs. Buy, and moreMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-5465015914589377788.post-46307051078075440992015-08-03T12:01:05.520-04:002015-08-03T12:01:05.520-04:00"Economic incentive" is still a huge dri..."Economic incentive" is still a huge driver for financial sector employees. At the end of the day, it's basically a sales job, and people do crazy things when money is on the line (e.g. the recent Home Capital debacle). My Own Advisor's best advice is his moniker. <br /><br />What'll be more interesting than all the Boomers who screwed up a sure thing, is how the Millenial generation -- now the largest -- will fare in retirement since they have a propensity to shun the markets and traditional components of finance and will not have the luxury of an extended 30-year bond/stock/real estate bull in front of them to build wealth. Perhaps they will live a more balanced life, instead of awarding "Greed is good!", and create things more beneficial to society than manipulative accounting schemes. <br /><br />Never a dull moment in life. :)SSTnoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-60246146180370016552015-08-01T09:21:08.863-04:002015-08-01T09:21:08.863-04:00@Mark: Based on my very limited sample, I would ex...@Mark: Based on my very limited sample, I would expect that most Boomers who live long into retirement are going to find their incomes dwindle in real terms.<br /><br />There are a host of possibilities that could put me into the same boat: tax changes, big political changes, war, climate havoc, fraud by index ETFs, etc.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-6027624893024597372015-08-01T08:46:32.211-04:002015-08-01T08:46:32.211-04:00It would be (very) scary to be years into retireme...It would be (very) scary to be years into retirement and realize your plan isn't working. I wonder how many of the huge demographic called Boomers are going to encounter this? <br /><br />You won't be one of them for sure...<br /><br />Enjoy the long weekend!<br />MarkMy Own Advisorhttp://www.myownadvisor.canoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-39981832152339270932015-07-31T10:26:28.025-04:002015-07-31T10:26:28.025-04:00@Robb: Agreed. The part that bothers me is that ...@Robb: Agreed. The part that bothers me is that a huge chunk of the fees go into sales activities. Many advisors spend more effort looking for new clients than working with the ones they have.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-85795219835291760912015-07-31T09:58:40.805-04:002015-07-31T09:58:40.805-04:00Thanks for the mention! It shows a big problem wit...Thanks for the mention! It shows a big problem with the investing landscape in Canada when the FPSC needs to account for 2% fees in its projected investment returns.Robb Engenhttps://www.blogger.com/profile/15407037246871878906noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-42869814932924449832015-07-31T09:21:02.597-04:002015-07-31T09:21:02.597-04:00@Big Cajun Man : Fixed -- thanks.@Big Cajun Man : Fixed -- thanks.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-13054666304112650392015-07-31T07:20:00.746-04:002015-07-31T07:20:00.746-04:00Thanks for the inclusion, and it is the Disability...Thanks for the inclusion, and it is the Disability Tax Credit (DTC), have a great weekend.Big Cajun Man (aw)http://www.canajunfinances.comnoreply@blogger.com