But I thought it was all sunshine, rainbows and unicorns?

[15444]

[URL="http://www.cbc.ca/news/business/rrsp-bmo-poll-1.3971964"]http://www.cbc.ca/news/business/rrsp-bmo-poll-1.3971964[/URL]

But more than a fifth of those who have withdrawn money early said they did so to pay living expenses, and 18 per cent reported they did it to pay down debt — two excuses the tax man will not accept as legitimate enough to waive the penalty for doing so.

"It's concerning to see that so many Canadians are dipping into their RRSPs to meet short-term needs, which should only be considered as a last resort," Chris Buttigieg with BMO Wealth Management said in a release announcing the results of the poll.

[farmaholic]

The old saving accounts ain't keepin up to inflation they ain't!!!

This ****ing place will probably have to look after me til I die. Good thing I'm low maintenance!

15444.... are you from the fictional community of Letterkenny? LOL...just some of the comments you posted in the past made me wonder.

[15444]

The old saving accounts ain't keepin up to inflation they ain't!!!

This ****ing place will probably have to look after me til I die. Good thing I'm low maintenance!

15444.... are you from the fictional community of Letterkenny? LOL...just some of the comments you posted in the past made me wonder.

Had to google what the heck you were even talking about. I don't watch much television, or drink - which I assume is a prerequisite to enjoying such programming.

[Braveheart]

Letterkenny, so funny. It could be anywhere. Just like our community. Same problems. Christians, hockey players, and skids. Lol.

[farmaholic]

15444.... drinking would probably help. I just have a terribly warped sense of humor.

The vernacular and isms are kinda hard to follow. and I get left behind trying to figure out what the hell they're saying or meaning and they just keep rambling on....

Sask had Corner Gas, Maritimes had Trailer Park Boys, North of 60, West Coast had The Beach Combers years ago... Pretty diverse bunch we are.

[bucket]

Just to prove how slow I am.....have to watch letterKenny episodes twice to catch it all....

[hobbyfrmr]

This may be an indicator that we are getting closer to the tipping point of Canada's housing and/or personal debt bubble bursting.
It is probably just news fodder as we get closer to tax time... nothing to see here, move along..

[furrowtickler]

Steady inflation has been slowly eroding all disposable income since 2010 or so.
Most "things" we purchase today last only 25% as long as they used to. Thus people are spending a lot more of their annual income on junk . Ie: appliances, TV's , cell phones, tires.... etc .
This is part of the problem
Also the cost of food , housing , utilities is outstripping ant monthly income increase to boot.
It's a combination of many things but at the end of the day inflation has outpaced take home income leaving monthly shortfalls with the majority of the blue collar work force .
I would think some people spend more
on their monthly cell bill now than a home mortgage 10 yrs ago ??? That may be a stretch but people's priorities have changed - a lot.

[hobbyfrmr]

Steady inflation has been slowly eroding all disposable income since 2010 or so.
Most "things" we purchase today last only 25% as long as they used to. Thus people are spending a lot more of their annual income on junk . Ie: appliances, TV's , cell phones, tires.... etc .
This is part of the problem
Also the cost of food , housing , utilities is outstripping ant monthly income increase to boot.
It's a combination of many things but at the end of the day inflation has outpaced take home income leaving monthly shortfalls with the majority of the blue collar work force .
I would think some people spend more
on their monthly cell bill now than a home mortgage 10 yrs ago ??? That may be a stretch but people's priorities have changed - a lot.

Food is not outstripping monthly incomes.
I can easily buy nutrition for a family 6 with what we spend on iPhones, mobile bills, iPads, wifi, tablets and satellite TV.

[Richard5]

Families today don't miss out on anything. Kids are in every sport and it costs an outrageous amount to keep them involved. Not that its a bad thing but I think families really need to manage money better and find the best fit for their kids in this area.

Too many live beyond their means because credit is so easily granted. It makes me so mad every time I see a reverse mortgage add on TV or in the paper. Some days I almost wish people would just drop all the shit and keys on the banks doorstep and tell them to shove it.

When will people ever learn to say no!

[farmaholic]

Isn't "no" one of the first words children learn to speak?

Try the veal!

Sorry, I couldn't help myself!

[hobbyfrmr]

The ability to access credit to buy anything fun and cool (strong depreciating assets like seasonal recreational things) has always puzzled me a little. I know if I smack my paw print on their document I am going to recreate like royalty. Usually I diddle the abacus before shopping and that shitty old abacus always tells me I really can not go for the most popular ultimate model that the salesman has presented to me. So then I buy really good used stuff at lower values and that seems to be working out well. Out of season payments (camper in feb, snowmobile in july) annoys me. Land payments in those months I can tolerate.
At this time we burn through cash for kids activities. I understand the value in it but I am still stunned. I never in my life spend like that on myself!
Most often my conclusion is that I am jealous. People are enjoying themselves and doing what gives them satisfaction. Isn't that the way it is supposed to be?
I need to lighten up a little. When we recreate, my friends usually encourage me to get something a little newer.....for the kids. Like some kind of intervention for not borrowing enough money to have fun.