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I Have A Crazy Investment Idea......?

Disability Insurance News & Discussion

I Have A Crazy Investment Idea......?

Postby Teppo » Tue Aug 01, 2017 1:54 pm

You know how Canada gives its citizens an "old age pension" to people who have never worked.......
would it be a good investment to become a Canadian resident, either by renting or buying.......
and then rent it out to someone else to live in so they would supposedly be your "roommate".....
you get $6,552/year at age 65 for living in Canada for 40 years.
$4,914 for living there 30 years
$3276 for living there 20 years
$1638 for living there 10 years
and this money DOES adjust for inflation.
you need to live there minimum 10 years.
and minimum 20 years if you want to collect your pension while living outside of Canada.
Share your thoughts on this idea.
Teppo
 
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Joined: Sat Jan 11, 2014 9:51 am

I Have A Crazy Investment Idea......?

Postby Arne » Wed Aug 02, 2017 5:21 pm

Since 2000-2010, 175,000 Americans have fled to Kanuckistan for a safe sane and civil society, 60,000 more have escaped to Australia.....you left out the Universal Health Care with zero deductables, no cap and no pre-existing condition exclusions...the minimum wage is $10.85 and includes two weeks paid vacation and one year maternity leave..........but did you know?......a case of Beer is $30.00!!!....OMG! THAT alone keeps Americans at home...

EDIT:.....OH, OUR PASSPORT IS GOOD IN every COUNTRY IN THE WORLD.....try Cuba, it is warm, friendly and safe......direct flights from Toronto
Arne
 
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Joined: Thu Apr 17, 2014 6:38 pm

I Have A Crazy Investment Idea......?

Postby colle67 » Wed Aug 02, 2017 5:40 pm

Your lands are in the way of the concept of manifest destiny . Submit to the superiority of freedom established in the U.S.
colle67
 
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I Have A Crazy Investment Idea......?

Postby Quon » Wed Aug 02, 2017 11:15 pm

Actually Lois all of your ideas are crazy. Tell us why it is that you liberals are always looking for a way to get free handouts, instead of working for a living like the rest of us do?
Quon
 
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I Have A Crazy Investment Idea......?

Postby Hyman » Sat Aug 05, 2017 2:37 am

Why don't we just send the boy scouts ( the gay ones) to annex Canada instead
Hyman
 
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I Have A Crazy Investment Idea......?

Postby Cristobal » Mon Aug 07, 2017 4:53 am

Seems like Canada has a very high Tax rate to pay for all these people...Couldn't we ship Obama there for good!
Cristobal
 
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I Have A Crazy Investment Idea......?

Postby Braen » Wed Aug 09, 2017 3:17 pm

This is a prime example of what's wrong with socialism, it opens the door for corruption.
Braen
 
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I Have A Crazy Investment Idea......?

Postby Enrikos » Thu Aug 10, 2017 3:08 am

I didn't have to work very hard to earn far more than that. But I realize some people are incredibly lazy.
Enrikos
 
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Joined: Sat Apr 19, 2014 12:00 pm

I Have A Crazy Investment Idea......?

Postby Tarran » Sat Aug 12, 2017 11:23 pm

You know how Canada gives its citizens an "old age pension" to people who have never worked.......

would it be a good investment to become a Canadian resident, either by renting or buying.......

and then rent it out to someone else to live in so they would supposedly be your "roommate".....

you get $6,552/year at age 65 for living in Canada for 40 years.

$4,914 for living there 30 years

$3276 for living there 20 years

$1638 for living there 10 years

and this money DOES adjust for inflation.

you need to live there minimum 10 years.

and minimum 20 years if you want to collect your pension while living outside of Canada.

Share your thoughts on this idea.
Tarran
 
Posts: 49
Joined: Thu Feb 06, 2014 1:30 pm

I Have A Crazy Investment Idea......?

Postby Rowtag » Wed Aug 16, 2017 11:31 am

This plan makes no sense.


>You know how Canada gives its citizens an "old age pension" to people who have never worked.......

No. It gives a income supplement to those 60-65+ who have low incomes. Most Canadians will not choose to not work for 45+ years in abject poverty in order to get a few hundred dollars a month when they retire. Most people receiving income supplements are those who have lost retirement savings, have disabilities, were forced to retire early, etc.

>would it be a good investment to become a Canadian resident

You need to qualify to be a permanent resident. You need things like marrying a Canadian citizen; having a net worth of $1.6M and invest $800k in a Canadian company; a highly skilled job offer and then compete for one of 10,000 positions a year; a provincial nomination (a doctor willing to work in some remote community, a top athlete, someone willing to buy and run a farm in Saskatchewan, etc.); a recent Canadian university graduate (in certain programs) who found work in Canada shortly after graduating; etc. All applicants must go through medical, background, and financial checks. The process can take upwards of five years in most categories. Many are currently closed.

>either by renting or buying...

Renting or buying what? Renting or buying property in Canada does not allow you to become a permanent resident.

Ok... trying to follow your bizarre logic here, but assume you qualified as a skilled worker. You have job offer as say an engineer and are making $80,000+ a year. You are say 40 years old -- since at 60+ you wouldn't have a job offer, wouldn't get enough points on your application to be accepted, and wouldn't likely pass a medical. You then get a mortgage and buy a condo.

>and then rent it out to someone else to live in so they would supposedly be your "roommate".....

Ok... you rent out a room at say $600 a month. You make $7200 a year which you need to declare on your income taxes along with your $80,000 salary. I'm not sure why it is important to you to rent out a room (and deal with all the hassle of people who don't pay, leave, damage your place, eat your food, don't clean the bathroom, etc.) when you are earning $80,000 a year... but sure.

>you get $6,552/year at age 65 for living in Canada for 40 years.

No you don't. The Old Age Pension people will access your last few years of income taxes returns and will notice that you had an income of $92,000 a year, including rental income, likely RRSP deductions, that you declared mortgage payments against your income, that your Canada Pension contributions prior to retiring was X, etc., and you'll get nothing (or little) for old age pension.

Even if you did get $6,552/year... so what? You probably paid several hundreds of thousands in taxes while in Canada. You are 65 years old... that isn't even two months of expenses in a nursing home, property taxes on a small condo, etc. You've just spend 40 years working in Canada. Your CPP, RRSP, and other savings would many times higher than this.


The average Canadian retires with $295,000 worth of assets and an annual income of $42,000 a year. Who is going to waste their time spending decades trying to land a high-end job, marry a Canadian, qualify as an investor, gain a provincial nomination, etc. plus years of waiting, medical, financial, etc. for a messy $6,500/year sometime forty years from now?

And if you are living outside of Canada... you would be giving up your provincial medical plan? Your average American retiree spends an $552 a month on medial insurance -- if they can get it, it unusually won't cover pre-existing conditions, and that doesn't include out of pocket expenses or trying to get them to pay.

This entire plan makes no sense. It sounds like a child made it up since you seem to think that $6,500 a year is actually a lot of money and somehow worth trying to go through Canada's immigration system -- ignoring that fact you can't collect old age pension unless you have no income -- including CPP, RRSP, etc.
Rowtag
 
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