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| They can retire on your inheritance gift; at least the next generation, no hope after that | |
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| Tweet Topic Started: Dec 14 2013, 12:01 AM (473 Views) | |
| Banandangees | Dec 14 2013, 08:01 AM Post #11 |
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Fire & Ice Senior Diplomat
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In your link, does it use the value of home as part of the person's net worth? Personal net worth is defined as the difference between a person's assets and liabilities. I'm not sure what age group the study included, meaning what population age. And I'm sure demographics between the US and Canada makes a big difference..... our racial populations, or immigration policies. $400,000 net worth could mean quite a bit and it could mean "not so hot," depending.
Edited by Banandangees, Dec 14 2013, 08:05 AM.
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| wanderingjays | Dec 14 2013, 08:05 AM Post #12 |
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HELL IN A HELMET
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The house is all my kids will get. I'm gonna spend the rest of it. |
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| Pat | Dec 14 2013, 08:13 AM Post #13 |
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Fire & Ice Senior Diplomat
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I guess I shouldn't be surprised that liberals would be opposed to a person passing their assets on to the kin. Generally they would rather have the state take control and divvy it out as it deems. How about a novel approach, one that is an asset to society and removes the burden people might otherwise place on the backs of strangers and the government? A well thought out trust that allows for assets to continue to rise in value and meted out as the deceased believes is in the best interest of future generations? In my opinion, the greed of America and Americans is going to be the country's downfall. These past couple of generations have already racked up nearly $20 trillion in public debt and the private debt numbers are staggering as well. Then the greedy bastards croak and leave a paltry average of $177,000? I bet a good 50% leave behind debt not a dime to anybody. Instead the survivors have to figure out what to do with the junk in the apartment or the bills and body. |
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| Brewster | Dec 14 2013, 08:14 AM Post #14 |
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Fire & Ice Senior Diplomat
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My dad had a bumper sticker that said:
I suspect I'll be the same. Edited by Brewster, Dec 14 2013, 08:14 AM.
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| wanderingjays | Dec 14 2013, 08:14 AM Post #15 |
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HELL IN A HELMET
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I like my idea better. |
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| Deleted User | Dec 14 2013, 07:15 PM Post #16 |
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If Harper was a US polician, i suspect he would be viewed as socialist. After all he supports universal health car for starters. Also his handling of economy, while good, is worse than his Liberal predessor, Paul Martin. As far as the Vancouver housing market creating wealth, you are correct in many ways, but house rich & income poor is not a good thing. I now live 50 miles out of downtown so I could afford to pay only 300 K for a 1400 sq foot condo. Divorce does that to you. My previous house (sold in 1999) in the closer Vancouver Suburb of White Rock, sold recently for 1.2 million. |
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| Banandangees | Dec 15 2013, 02:20 AM Post #17 |
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Fire & Ice Senior Diplomat
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Considering "how socialist a country is," based on a nation's welfare expenditures (social/entitlement programs) when compared to the nation's GDP shows the US being more socialistic than is Canada. A recent updated article comments on a study done by the "Organization for Economic Co-operation and Development (OECD), titled ""Social Expenditure Database." Of the Thity-four countries mentioned in the study, the U.S. ranked 11th and Canada 22nd in % of GDP spent on social expenditures. The U.S. lead all countries in highest % of GDP contributions made by private sources for welfare expenditures. The rankings are as follows: 1 France 2 Denmark 3 Sweden 4 Belgium 5 Austria 6 Germany 7 Finland 8 Great Britain 9 Italy 10 Netherlands 11 United States 12 Portugal 13 Spain 14 Japan 15 CHE 16 Ireland 17 Greece 18 Norway 19 Luxembourg 20 ??? 21 Iceland 22 Canada 23 Hungary 24 SVN 25 NZL 26 Poland 27 Czech Republic 28 Australia 29 Estonia 30 SVK 31 Israel 32 Turkey 33 South Korea 34 Mexico |
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| campingken | Dec 15 2013, 03:29 AM Post #18 |
Fire & Ice Senior Diplomat
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Pat, Perhaps it's because liberals believe that a person should make their own way in life. What did the children on the wealthy do to earn their parents money? Wealthy parasites are no different than poor ones, except that they seem to believe that the fact that they were born into wealth makes them somehow superior. I'm with WJ. My kids will get the house and some stock (maybe).. We earned it so we will spend it. |
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| Sea Dog | Dec 15 2013, 03:34 AM Post #19 |
Fire & Ice Senior Diplomat
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I worked long and hard for my money. After spending, not blowing, what I now need, I hope to leave a meaningful amount to my three kids and their families. |
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| Pat | Dec 15 2013, 03:43 AM Post #20 |
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Fire & Ice Senior Diplomat
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Al I was doing Ken was explain a little about a system that most don't partake in. That's all. Obviously you are free to do as you wish in spending and allocating your generation's family assets. personally, I see little advantage or desire to constantly be reinventing the wheel from one generation to the next. If Americans held in trust family properties, then generations from now the family would not be wondering where the roof over their head was coming from. The same for business and investments. It worked for this Irish family but to each their own. |
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