XPost: can.general, can.politics, ott.general
From: nospam@thanksalot.com
John Fleming wrote:
> On Tue, 05 Jul 2011 13:34:02 -0600, while chained to a desk
> in the scriptorium Canuck57 wrote:
>> $On 04/07/2011 11:39 PM, merlin! wrote:
>> $
>> $>> Anyway, if you sell some shares and realize a nice capital
>> $>> gain, it's not rocket science to know you are going to be
>> $>> taxed on that capital gain. It's not rocket science.
>> $>>
>> $>> So you are sitting ith a nice, say, $20,000 capital gain.
>> $>> Capital gains are taxed, IIRC, at one hallf your prevailing
>> $>> tax rate. Let's assume you are in a 50% marginal tax rate.
>> $>> So park $5K in some high risk investment like a cashable
>> $>> GIC, and reinvest the rest. Come tax time, you have the
>> $>> money available to pay taxes owing.
>> $>
>> $> I don't know, I am not an accountant. I know they got no money
>> from sale $> of anything, and a lot of them ended up in serious debt
>> and bankruptcy. $
>> $If you know grade 6 math, you should be able to cope. But if your
>> $assets are sold, and no money left after paying debts and fees, you
>> get $zero!!!
>> $
>> $An example, buy a hous for $300K, $290K mortgage, forced to sell,
>> well, $you will have a small debt to repay. As you didn't have any
>> equity. $
>> $Assets minus debts == equity.
>> $
>> $Simple.
>
> Agreed, you don't need an MBA to understand household
> finance.
>
> Want to have a growing bank balance? I like to call it the
> eleventh commandment God gave to the Isrealites. And it is
> simplly stated -
>
> Income minus expenses > 0.
>
> If you are spending less than you earn, your net worth will
> increase. It may not happen fast, especially at first. And
> you may have to pay down some debt to reduce those expenses.
> But keep doing this every day for the rest of your life, and
> the results are really quite nice.
>
>> $>> A friend's parents were married for 60 years before one of
>> $>> them passed away. Sure, they changed over time. And I'm
>> $>> willing to bet there were times they were ready to kill each
>> $>> other. But they made it work.
>> $>>
>> $>> In fact, in my extended family and circle of friends, I can
>> $>> think of dozens of people who've been married 20, 30, 40 or
>> $>> more years.
>> $>>
>> $>> You want to make a marriage last? Think you could learn
>> $>> something by talking to someone who's made it last? Think
>> $>> they haven't faced a lot of the same challenges and issues
>> $>> you're facing?
>> $>
>> $> You sure are full of advice, for someone who knows nothing about
>> any of $> this.
>> $
>> $Lots of people like John and I negotiate this quite well. Here is a
>> $hint. Envy, self pity, personal greed and whining do no work.
>
> Asking other people who have been there and done that for
> advice isn't rocket science.
>
>> $>> Good financial planning includes making sure you have the
>> $>> tools in place to cope with bad things when they happen. We
>> $>> all like to think we are indestructible and will live to age
>> $>> 90+.
>> $>>
>> $>> But if you are honest with yourself, x% of the people you
>> $>> went to school with are dead by the time you are 40. What
>> $>> would the impact on your partner be if you met your untimely
>> $>> end? Or if you were disabled and could no longer work?
>> $>> That's why you get life and disability insurance.
>> $>
>> $> You sound like an infomercial. Are you for real?
>> $
>> $Pretty obvious you are a defeatist. No success there. People like
>> $winers not whiners.
>
> I've come to the same conclusion myself.
I thought you might like to know that your simple formula does not work
for some people, through no fault of their own. Sorry I wasted your time,
and mine.
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
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