Great topic and location Tina & Norm. There are ways to overcome inflation but it requires some planning and adjustments in life. Totally agree with your investment ideas and tips shared. We also own dividend stocks and gold stocks, not selling any of them as we are longe term investors not traders. Actually we started to nibble more dividend stocks over the past few days as current yield is very attractive for long term strategy most companies we own regularly increase dividend anywhere from 4-10% annually. Great way to fight inflation. Anyhow, enjoy your trip if you are still traveling and have a great weekend.
Love having retirement tips on location! I'm American but had never even heard of Frankenmuth. Watching my stocks drop, 15-20% over the last year, but honestly I try not to over-watch. In my brain I know what goes down will come back up, so I try not to let my heart overrule that! Great video.
Thanks for watching Candy you need to put Frankenmuth on your bucket list we had a great time there , hope you are keeping well have a great week Cheers 🇺🇸🍷🇨🇦🌺
I love frankenmuth! It was one of the last trips I took with my husband before he passed and it was very very fun to be there! I love seeing the two of you come to Michigan because we're practically Neighbors 😊
I disagree. I bought £10,000 of a major supermarket chain at £5.00 per share 18 years ago. During the last few years the shares have hovered around half that. A professional investor once told me to have a stop loss at 10% which I should have implemented. Sadly I didn't. If shares plummet what guarantee is there that the shares will rise again. I also feel, due to demographics, the golden days we have enjoyed are well and truly over.
@@stevenhull5025 I am lucky in that I entered the market in 1973 and to sum up, I lost nothing and gained much since I like banks and huge enterprises that can weather storms.
Like everyone my portfolio is down about 17% or so and I feel your pain. My approach all along has been to defer our CPP & OAS to age 70 (only a year to go) and live on our savings until then. While we are living off of our savings, I keep 2-3 years of income in cash or near cash investments so that I don't have to sell our stock investments into a down market, the idea being that almost all market corrections are over after that length of time. Trying to be tax efficient I follow our tax bracket up as it is adjusted for inflation each year so that helps me stay at a level real income. The end goal being that once we start our enhanced guaranteed indexed government pensions that's a good amount to live on and whatever happens in the markets is not particularly a concern to me. That's the plan anyway and so far, so good. As you say until you sell it's only a paper loss so try not to stress about it.
Frankenmuth...you were just down the road from us here in Sault Ste Marie. This summer or fall head to Mackinac, you will love it. And maybe the Lake Michigan coastline. Lots to see and do. Thanks as always for sharing.
Hey Tina and Norm. You certainly bring up some topics for discussion. As a newly retired teacher I set up 3 years cash for emergencies. Out portfolio is 100% equities- ETFs and dividend paying stocks. For now all the dividends are being reinvested at a higher dividend rate due to the decline in share price. This market is an opportunity to add to forward income. I may even get a part time job so I can pick up more bargains.
It is discouraging to see our portfolios dropping like a stone; however, we’re doing fine because most of our stocks are blue chip dividend paying stock’s rather than potentially riskier and/or growth stocks. There’s no point in selling right now, that’s for sure! Since we are not day traders or swing traders, we just plan to sit tight for the time being and enjoy or dividends. Good luck to you and other investors at this challenging time. It will turn around if we are patient 🇨🇦
The best retirement advise is from those in retirement, Glad to see you both out enjoying yourselves. As one looking to retire some day my plan is to keep buying and holding for the long term. This too shall pass! Have a blessed day.
In the US we have “I” series savings bonds that pay the inflation rate. Rates change every six months based in the inflation rate. Bonds purchased through October pay 9.64% but that rate will be lower in November since inflation is moderating. Purchases are limited to $10,000 US each year and have to be held at least 12 months. I use them to save for future travel. Right now I am ignoring my stocks hoping they will go up some day. Thanks for your video - great advice. Calm and steady.
@@ThisIsOurRetirement I am age 81 and very anxious to hear about other people handling retirement accounts, I also has Canada passport over 40 years, your video just popped up in my screen. Already subscribed
Thanks for talking about something that is on our minds - our retirement savings going down but like you say we haven't lost money on our shares until we sell them. We hope that the share market goes back up soon and if we have spare money it is a good time to purchase some more good quality shares that pay dividends.
Norm and Tina, I live about an hour from Frankenmuth. We are honored to welcome you to Michigan. Hope you enjoyed a good chicken dinner family style. Love your videos!
Great to see you both enjoying yourselves. You beat us there. My husbands favourite place. He went to Frankenmuth twice while on business from UK. He has been anxious to take me there for my first trip. One on our list for next spring. Again great 'food for thought' video. Enjoy and stay safe ❤
Thank you Tina and Norm. Your knowledge is more helpful than you can imagine for those of us who have not heard the advice you give. I know I am not the only person who does not have the opportunity to learn, from their parents, the ways of practical finance in later life.
We've been to Frankenmuth! We had a great time and ate at Zehnder's. We were surprised our waitstaff lived in BC, until we found out they were from Bay City.
With a solid plan put in place years ago to have a comfortable retirement, we do not overreact to the markets tanking. We don’t pay much attention to our investments as they are balanced and if it all evaporated tomorrow we could still manage on our pensions. It wouldn’t be pretty, but we would still be able to continue on until the markets rebounded. We have thought about GIC’s too and will look at that option more closely soon. Thanks for the memories of our visit to Frankenmuth we took years ago.
You're in our home state & one of our favorite places to visit! I hope you have a wonderful time! Thanks for keeping us up to date with all the great tips!
Thanks for sharing and for the positive thoughts. It's good to remind ourselves to not panic with everything going on right now. I needed to hear this today. Cheers!
Hi Norm & Tina thanks again in sharinging excellent information. Look forward to seeing you next video every week. We have a question with your visit to Frankenmuth, would you be so kind to share the cost and place where you spent your time for the 3 days. Thanks and stay well and safe.
No problem Norm we stayed at the Drury Hotel we had a one bedroom suite with mini kitchen and lounge area it cost $188 US 🇺🇸a night , very walkable distance to everywhere Cheers 🇺🇸🍷🇨🇦
Our pleasure! it’s wonderful Cindy to be travelling again and even just to get over that fear at the back of your mind with Covid etc . So glad we came what a lovely place have a great weekend Cheers 🇺🇸🍷🇨🇦
I live 2 hours south of Frankenmuth. Nice little town! Thanks for the encouraging video. I’m retiring October 14, the day after my 62 birthday. Not the best time with the current market but I’ve waited long enough. Funny Norm mentioned Kinross Gold. I have that too but thankfully not much money in it. Last I checked it was 50% down! I’ve been through down markets before and you’re correct, don’t panic.
Congratulations 🥳 on your retirement John only 20 sleeps 😴to go to join the best club ever !! Being retired is the best have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🍺
Thanks for the video, in regard to downturns, I’m a big fan of the bucket theory. Keep 1 to 2 years expense in a very safe account (similar to your comments on emergency fund), 4 years in moderate (bonds) and the rest in an aggressive. This allows not having to tap into aggressive funds during down trends such as now
Greetings, Norm and Tina! That's a nice place, I have visited it several times during the 70's and 80's when living in Michigan. That store was not that big... Zender's chicken was not my favorite so I would go to the other restaurant down the street. I like the fudge from there and still order to this day. They do deliver to me via mail. Good point regarding stocks, etc. I started buying stocks since they stated going down but so far have lost some $$$. But I will hold... Two of them are from your neck of the woods: $TD and $BNS 😁 Have a great weekend.
I know it's scary for people who are recently retired or living on the edge. We have 5 years of cash and cash equivalents available to us so a dip in the market, while painful to watch, really doesn't impact our lifestyle. I have tried to set up a plan that allows 25% of our retirement income to come from dividend stocks, 15% to come from a rental house and the rest to spend out of our cash. If that plan works(I know it won't work just right) them it will take us for 8-10 years before we start taking SS. SS will then become about 60% of our income. We will sell the rental house and reload our cash reserves. Once we are both on Medicare we will probably start trying to spend down our retirement accounts. As you said,don't panic. A retirement last 30 years and in that time the market has always recovered nicely. Try your best not to sell during down markets. I don't want to see people cut back too much. You saved the money for retirement so spend your plan unless you are in serious trouble.
Great comment we couldn’t agree more, congratulations in thinking through a plan, it doesn’t have to be perfect as you can tweak it as circumstances dictate. Thanks for sharing this point.
Yay, thank you! we had a great time in Frankenmuth Michigan it was however just nice to overcome the fear of travel with all our Covid regulations etc ( which are now going to be dropped Sept 30 th 🤔) hope you are well and enjoying a wonderful weekend Cheers 🇺🇸🍷🏴🍺🇨🇦😎
I look forward to your video's every week, you have inspired us to retire early and enjoy life to the fullest. I was so shocked running into you both today in the elevator, wish I would have had more time to tell you how much your video's have helped us. Best Wishes, Deb
Thanks Debbie for saying hello it was great to meet you in the elevator today although it was brief it made our day. We hope you are enjoying your retirement.
Watching a few old clips of yours and came across this one. You're a hop & skip from my childhood home in Michigan. I hope you enjoyed your travels! I love your channel. I'm turning 55 and am prepping for retirement once my daughter graduates college...7 years! Were you scared to retire (running out of $)? If so, how did you over come that?
Thank you for watching our videos, yes we loved our visit to Frankenmuth and the surrounding area. Yes we were apprehensive about retirement and the money running out. Our solution as we didn’t have company pensions, was to sell our house and use that as our retirement nest egg. We rent an apartment and have some dividend investments.
We don't own stocks, have savings account only and I am fine with that. Budgeting is crucial for trips and unexpected repairs etc. We live a simple but very exciting life having the motto: Carpe Diem and "do what you can do well boy" attitude. I'm enjoying your videos as it does enlighten me about many issues I know little about. Have a great week. 🎉 🍷 🇳🇱 🙋♀ 🇳🇿
Seize the day! Anita, a great motto to live by and yes a good budget is empowering and informative. We do the same so we never over extend ourselves. At this point in life we value the experiences of travel more than buying stuff. Have a wonderful week. 👍😀😀💕
Fantastic video. I really had some smiles as you showed us around the charming Michigan town. (Been there). The walk about town blended well with your calm reassurances of balancing life during this down market time. I hope you are finding nice travel deals this season.
Isn’t Bonner’s something else? I’m not usually interested in Christmas anything before December but seeing all the decorations in Bonner’s can get you in the mood. That was where I saw my first prelit tree and it was just for display. I remember saying if I could find one in Canada I’d pay anything to get one 😄 I trust you had a good time on your first international foray.
Nice to see you on location,yes the market is taking a beating, I myself don't have much personal individual stock but our nurses pension fund is heavily invested in the market so that's scary.there was a minister on tv that use to say tough times don't last but tough people do,here is to hanging tough. Have a lovely week.
Sound advice. I negotiated a 15% reduction in my cable/internet bill by going to the cancellation department. You have to be ready to cancel though. Gold and silver are shiny option but with the US Dollar going up they are actually losing value but for Canada it is going up. I would also stock up on non perishable foods. They are talking food shortages and price increases. You guys sold your home so you are not watching that value disappear. That is a positive. The saying when the stock market is down is America/Canada are on sale is correct but as long as they continue raising rates the selling will continue. Emergency Fund very important. Good Luck and God Bless everyone.
Would love to go to Frankenmuth! Looks great! Again the voice of reason on the economy. I probably will work for 2 years more as I was retiring in 1 year. We will see where we are at next year. Thanks for the helpful tips.
Thanks for the tips and for visiting my home state! When I was a kid in Anaheim CA there was a park with a similar Korean era jet that kids could play on! It still had some wiring inside and I remember how hot the metal could get in the sun. Eventually they covered it in a stucco like material, probably to stop kids from hurting themselves. Thanks for bringing up a fun memory for me
I live in Windsor and have been to Frankenmuth quite often. Love the chicken dinner at Zehnder's and going to Bronner's where I spend way too much money.
We almost crossed paths in Frankenmuth Sept 14-16 while RVing around Michigan. Tomorrow, we're heading to Sault Ste Marie to see the Soo Locks. And yes, finances are a bit rocky right now because we can't be sure we're not heading for the 10 year inflation period that happened the last time.
I sold my house in June in Toronto and have kept my money in a GIC and keep moving to a higher GIC as rates increase. I would be underwater if I took it all and put in in the stock market more than I would be with GIC with inflation. Will keep it there until I feel we avert a recession or weather it out. Probably be able to come back into market and do the proverbial advice to buy low and sell high. I still have RRSP in the market so when I retire next year will see where I end up.
Sounds like a great plan for now. Don’t overlook promotional interest rates for banks like Tangarine and credit unions, usually 4%+ for three to six months.
Replacing defined benefit plans with deferred compensation plans has been devastating for most workers. They only benefit fund managers and place the burden on the worker who is the worst pension fund manager
As I doom scroll my absolutely crushed FIRE portfolio, your calm demeanor helps. We were going to head to Portugal and France this past Spring. We bailed out with the Ukraine invasion, as we predicted inflation, refugees, competition for resources, especially in former Soviet Eastern Europe (which was our plan to sae money). Now we are preparing to go cheap and FIRE in South America, in 2023. Hoping that our portfolio keep paying the dividends we need to shore up the cash accounts, without making any sale orders. Hoping Russia sees the errors of their ways.
It is troubling times but best not to let the news overwhelm you. Inflation used to be more of a regular thing back in the seventies and eighties, we will get through it. We see some buying opportunities and have got some short term GIC’s 6 months at 3.55% will buy some more at the next Fed hike. We don’t buy growth stocks as dividend aristocrat stocks were performing like growth stocks but with more safety. Good luck with your travels and investments.
We had a great time Richard , lovely to get over the Covid travel regulations which are now going to be dropped end of Sept !! and what a great place Frankenmuth was to visit , have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🍺
I have several high-quality stocks and use a dividend reinvestment program to buy additional shares. Over the years this has resulted in owning a large number of shares with no additional capital investments, except when I though I could make a killing.
Great video guys. I have my money in cautious funds managed by my financial advisor. Definitely going to review these in the next while. I love Frankenmuth as a location. Was that 'Silent Night' playing in the background at the Chapel? 😉 As for saving money, we were brought up in Dublin, before central heating so we just put on a jumper if it was cold! U'll remember that, coming from the UK. Don't think that would work in Canada though. Thanks as always for your work in researching and producing these programmes. I enjoy them all. Ur both looking great too. Catch u on the next one!!
Yes they only play Silent Night as this is a reproduction of the Austrian chapel where it was first performed. Yes we would put a jumper on in England but we get around 10 to thirteen days below -30°C ☃️ That’s why we escape to Portugal for a few months. Thanks for watching we appreciate it.😀😀
It's always good to have silver and gold on hand because when the you know what hits the fan and the stock market crashes everyone looks to gold and silver for safety. So get it now before the market does explode, and it will be you can watch your silver double and maybe triple. I bought at $13.26 an ounce silver $6000 and it went to $26.80 when I got out. Well I took out something like $10,000. It was a fantastic investment. Cheers 😘🥂😘
For GICs, I am buying 1 yr GICs, but staggering the maturity dates so that each month in 2023, I will get a GIC maturing and thus have money available if needed . .
I'm holding my dividend stocks and letting the dividends reinvest - buy additional stocks at a lower price (right now). My best advice is to live a frugal common sense life and to maintain your health. You two are visiting my home state of Michigan! I live about two hours south from where you are in this video 😁
We are doing the same, at least dividend stocks are paying us to wait for better valuations. We hadn't traveled in Michigan before, just a route south for us in the past. We enjoyed our time in Michigan and will be back!
During the course of a 30+ year retirement we will experience many different market condition. You have to be prepared, flexible and go with it. Otherwise you will be miserable. The best retirement plans furnish sufficient cash flow to live comfortably no matter what the markets ..
Best to buy gold and silver. If you buy per person just shy of $10,000 per person at a time then it doesn't get tracked by fintech. Just have it. don't even put it into a safety deposit box cause when the banks close their doors you won't be able to get at it. You may be able to get a limited amount of fiat money out of an ATM and I mean limited.
Sounds like such a lovely trip to Michigan. We put our money in safe accounts a few years ago. We only have a small amount in the stock market. It’s too volatile Another great video Norm & Tina
That is awesome! we don’t like all our eggs in one basket either so we too are mixed cash and stocks, have a great weekend guys and stay well Cheers 🇺🇸🍷🇨🇦
@@yolandacastillo6312 one of our options in our 401k account is a fixed rate so we moved most of our retirement $ there and out of the stock market. We saw this coming and with our age we don’t have time on our side to make up big losses. We sure don’t think you’re crazy
Two years before I retired, I reallocated my IRA funds to 60% income mutual funds that produce a monthly dividend per share. I found funds at the lowest price per share, very stable price history, and highest dividend per share. At this time, even in a recession in the USA, I could pull dividends from them totaling about $580 per month. I don't need those dividends yet and they're being reinvested. But it's an option people should consider.
As Warren Buffet has said, “ the stock market is a device for a transfer of money from the impatient to the patient “..So hang in there..We will have better days..I’m looking forward to the increase in GIC payoffs next year..Hopefully get above 5%..This will be the route to go for a lot of us seniors..
Buffet also said about Berkshire Hathaway stocks "Our favourite holding period is forever". Agree, if it's good stocks like aristocrats, hang in there.
I believe it was Suze Orman who was saying that future retirees should start looking at pulling back from investing and start building up their savings accounts with cash. Like, lots of cash. 2-3 years of living expenses. That way you have the means of getting by on your cash while the markets sort themselves out. If they ever do. My CFP will likely have a heart attack if I suggest this, lol.
If you are at retirement age they shouldn't have a heart attack with having 2-3 years of living expenses in cash or near cash like GICs. That was recommended to me when I first retired by my CFP. If they do have heart attack you might want think about who's interest they are looking out for.
I agree on your point in investing in physical gold. Fiat currency has been out of the gold standard since President Nixen abolished it in the 70"s. Nothing presently backs paper money except a "promise to pay". We live in a changing world (geo-political) and a growing number of countries are now using their currencies for trade as opposed to the US dollar. I firmly believe we are on the cusp of reverting back to a gold standard. I personally would not touch ETF's with a barge pole as nothing beats holding physical gold in your own hands. Sadly here in the UK we have to pay 20% VAT on silver. If that was not the case I would be buying silver as well (Britannia silver coins that is).
Love you guys, but you buried the lead!!! The best advice is to adjust spending, stay the course and not panic. Individuals trying to outfox the markets by trying different schemes to find better returns essentially reduce things to luck (did you make your moves at the right times as opposed to finding a new better portfolio). Also, gold has been a very inefficient hedge against inflation. While it's true that gold/precious metals can explode in value during times of very high inflation (especially when it's prolonged like the 70s), during periods of more routine inflation gold has actually lost value. So it's a high risk play, sort of betting on a long shot that inflation won't be brought under control anytime soon. I consider precious metals to be more speculative than a long term hedge. It took me too long to learn this, but chasing returns is just about the best way to always miss long term opportunity.
We are buy and hold investors rarely selling, hold quality dividend stocks. Bought a small amount of stock in a gold producer. Have cash on hand buying undervalued equities in quality companies. Thanks for sharing your thoughts.
Our financial advisor is giving us the same information as you are in this video: Buy quality, stay in the market, diversify, buy a few corporate and municipal bonds, and go for the long term ride. Never failed. Our portfolio is down 18%, but still in 8 figures! Now buy USDA Choice and not USDA Prime.😮
sounds like fun, I myself have taken some trips to Montreal and Windsor this month, the travel industry looks to be picking up these days!!! take care!!!!
Could you please elaborate on how to purchase gold and silver? I have concerns about not knowing if I am getting ripped off. Also how would you use it if needed to purchase something? How have people approached their financial advisor regarding taking funds and putting them in physical gold and silver?
Financial advisors will say don’t buy more than 5% of your portfolio in physical silver or gold and be aware it’s a risky investment. Google bullion dealers or talk to a local coin store in your area and compare prices.
Great content. I always learn something new from you two. One of my favourite couples I follow on social media. Thanks for sharing your trips and tips and Frankenmuth, which is now on my bucketlist :). Have a great trip.
Be sure to diversify!! We have our retirement in Mutual Funds, several savings accounts emergency fund and bought a condo looking over a lake in a tourist town with highly desirable neighborhoods. Our financial person recommends two years of monthly needs in cash right now to "hold tight" until this current downtown ends.
In the US you can buy inflation bonds or I bonds. You can only bou 10K a year per person digitally or use your tax refund tobuy another 5k. Right now Ibonds are paying 9.62 till oct and I believe the next six months in the 8 %.
It was wonderful to travel outside Canada 🇨🇦 Deborah, all new and exciting when you visit somewhere new and coping with the travel regulations which are now going to be lifted later this month !! hope you are having a wonderful weekend Cheers 🏴🍷🇺🇸🍺🇨🇦🌺
It’s a lovely sunny weekend here and the end of official mourning for our wonderful Queen Elizabeth 11. I’m sure you watched a little of her funeral over there too. It was very moving, xx
interest rates in general should not affect retirees that much. They should not be taking out a new loans or buying on credit for anything. I think I would just stick with your existing mutual funds. But yes, some cash on the sidelines.
Darn. I guessed wrong where you were, but now I'm aware of another covered wooden bridge ;^)) Always good to hear you sharing your thoughts especially on this matter. Many thanks.
Hello Tina and Norm. We also live in Ontario. In your video you mentioned a 3 month GIC at 4%. Could you please share with us where you got this. We would be grateful to know. TIA. Keep up the good work. We are newly retired and very much enjoy your videos.
Are you guys going to do a video when Tina gets her British Pension? It should be within a year. It would be interesting to see a comparison between the British Pension and Canada's CPP. It would also be interesting to find out if the U.K. has something similar to Canada's Old Age Security Pension (OAS) or the Guaranteed Income Supplement.
Tina won’t get her British pension till she is 67 on the new rules, so a couple of years to go yet , thanks for watching have a great weekend Cheers 🍷🇺🇸🇨🇦🇬🇧😎
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Great topic and location Tina & Norm. There are ways to overcome inflation but it requires some planning and adjustments in life. Totally agree with your investment ideas and tips shared. We also own dividend stocks and gold stocks, not selling any of them as we are longe term investors not traders. Actually we started to nibble more dividend stocks over the past few days as current yield is very attractive for long term strategy most companies we own regularly increase dividend anywhere from 4-10% annually. Great way to fight inflation.
Anyhow, enjoy your trip if you are still traveling and have a great weekend.
Thanks for sharing SN we had a wonderful time hope you have a wonderful weekend too Cheers 🇺🇸🍷🇨🇦🍺
Love having retirement tips on location! I'm American but had never even heard of Frankenmuth. Watching my stocks drop, 15-20% over the last year, but honestly I try not to over-watch. In my brain I know what goes down will come back up, so I try not to let my heart overrule that! Great video.
Thanks for watching Candy you need to put Frankenmuth on your bucket list we had a great time there , hope you are keeping well have a great week Cheers 🇺🇸🍷🇨🇦🌺
I love frankenmuth! It was one of the last trips I took with my husband before he passed and it was very very fun to be there! I love seeing the two of you come to Michigan because we're practically Neighbors 😊
agree - never sell in a down market - no panic - enjoy your stay guys
Thanks so much Scott we agree just don’t panic we are enjoying the break Cheers 🍷🇨🇦🇺🇸🍺
I treat the downs as a market buying opportunity. The momentum pulls down good companies as well as marginal ones.
I disagree. I bought £10,000 of a major supermarket chain at £5.00 per share 18 years ago. During the last few years the shares have hovered around half that. A professional investor once told me to have a stop loss at 10% which I should have implemented. Sadly I didn't. If shares plummet what guarantee is there that the shares will rise again. I also feel, due to demographics, the golden days we have enjoyed are well and truly over.
@@stevenhull5025 I am lucky in that I entered the market in 1973 and to sum up, I lost nothing and gained much since I like banks and huge enterprises that can weather storms.
I live about 25 minutes from Frankenmuth. Always fun to visit. 🎄 ⛄️
We really enjoyed our visit, thanks for watching!
Like everyone my portfolio is down about 17% or so and I feel your pain. My approach all along has been to defer our CPP & OAS to age 70 (only a year to go) and live on our savings until then. While we are living off of our savings, I keep 2-3 years of income in cash or near cash investments so that I don't have to sell our stock investments into a down market, the idea being that almost all market corrections are over after that length of time. Trying to be tax efficient I follow our tax bracket up as it is adjusted for inflation each year so that helps me stay at a level real income. The end goal being that once we start our enhanced guaranteed indexed government pensions that's a good amount to live on and whatever happens in the markets is not particularly a concern to me. That's the plan anyway and so far, so good. As you say until you sell it's only a paper loss so try not to stress about it.
Thanks for sharing and we agree you only loose if you sell hold on 💵 and they do come back have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🍺
The Voices of Reason. Much needed and helpful in turbulent times. Thank you Norm and Tina.
Our pleasure! glad you enjoyed it Vinay hope you are keeping well and having a great weekend Cheers 🇺🇸🍷🇨🇦🌺
Frankenmuth...you were just down the road from us here in Sault Ste Marie. This summer or fall head to Mackinac, you will love it. And maybe the Lake Michigan coastline. Lots to see and do. Thanks as always for sharing.
Sounds great! thanks for the ideas David have a great week Cheers 🇺🇸🍷🇨🇦🙂🌺
Hey Tina and Norm. You certainly bring up some topics for discussion. As a newly retired teacher I set up 3 years cash for emergencies. Out portfolio is 100% equities- ETFs and dividend paying stocks. For now all the dividends are being reinvested at a higher dividend rate due to the decline in share price. This market is an opportunity to add to forward income. I may even get a part time job so I can pick up more bargains.
We agree with you David there will be some equity bargains to be had at some point.
It is discouraging to see our portfolios dropping like a stone; however, we’re doing fine because most of our stocks are blue chip dividend paying stock’s rather than potentially riskier and/or growth stocks. There’s no point in selling right now, that’s for sure! Since we are not day traders or swing traders, we just plan to sit tight for the time being and enjoy or dividends. Good luck to you and other investors at this challenging time. It will turn around if we are patient 🇨🇦
We agree Jancy we are mostly in blue chip stable stocks we are also in hold and keep mode , thanks for watching have a great weekend Cheers 🍷🌺🍺🙂
The best retirement advise is from those in retirement,
Glad to see you both out enjoying yourselves.
As one looking to retire some day my plan is to keep buying and holding for the long term. This too shall pass!
Have a blessed day.
We are loving being retired Mike and love sharing what we do with others that might give them new ideas Cheers 🇺🇸🍷🇨🇦
In the US we have “I” series savings bonds that pay the inflation rate. Rates change every six months based in the inflation rate. Bonds purchased through October pay 9.64% but that rate will be lower in November since inflation is moderating. Purchases are limited to $10,000 US each year and have to be held at least 12 months. I use them to save for future travel. Right now I am ignoring my stocks hoping they will go up some day. Thanks for your video - great advice. Calm and steady.
Thanks so much for sharing enjoy your weekend Cheers 🇺🇸🍷🇨🇦
Real life, real people, real advice, worth to listen and learn, thanks for sharing,
Glad you enjoyed it Nancy we loved visiting there Cheers 🇺🇸🍷🇨🇦
@@ThisIsOurRetirement I am age 81 and very anxious to hear about other people handling retirement accounts, I also has Canada passport over 40 years, your video just popped up in my screen. Already subscribed
Thanks and welcome to our channel Nancy 🌺
Thanks for talking about something that is on our minds - our retirement savings going down but like you say we haven't lost money on our shares until we sell them. We hope that the share market goes back up soon and if we have spare money it is a good time to purchase some more good quality shares that pay dividends.
It's good to be aware of what is happening Diane
Enjoy your time away from home 🏡 and now I am glad you shared your experiences, tips and travel.
Thanks so much! we had a great time visiting Frankenmuth Amy have a wonderful weekend Cheers 🇺🇸🍷🇨🇦
Good to see you visiting Michigan. Frankenmuth is only 1 hour and 20 minutes from where I live in Ypsilanti, Michigan.
We had a great visit Sue have a great week Cheers 🇺🇸🍷🇨🇦
Welcome to Michigan. Today is my one year nomoreworkiversary...Times are tough, but it beats being at the crappy ole job. 🍷
Thanks so much we had a great time Cheers 🇺🇸🍷🇨🇦
Norm and Tina, I live about an hour from Frankenmuth. We are honored to welcome you to Michigan. Hope you enjoyed a good chicken dinner family style. Love your videos!
Thanks Kevin we had a great time visiting Michigan so glad you enjoy our videos Cheers 🇺🇸🍷🇨🇦
Wow! Beautiful weather! Looks like a fun trip. Stay happy and healthy! Safe travels. 🙂
Thanks Joyce we had a wonderful time there hope you are having a great weekend Cheers 🇺🇸🍷🇨🇦
Great to see you both enjoying yourselves. You beat us there. My husbands favourite place. He went to Frankenmuth twice while on business from UK. He has been anxious to take me there for my first trip. One on our list for next spring. Again great 'food for thought' video. Enjoy and stay safe ❤
Wonderful place to visit Fay glad it’s on your list we have had a lovely week there hope you are having a great weekend Cheers 🇨🇦🍷🇺🇸
Thank you Tina and Norm. Your knowledge is more helpful than you can imagine for those of us who have not heard the advice you give. I know I am not the only person who does not have the opportunity to learn, from their parents, the ways of practical finance in later life.
Thanks so much Judy for your very kind words, we really appreciate them.
No doom and gloom here, just buckle up your belts and live within your means. Thank you for sharing.
Love that! thanks for watching Linda have a wonderful weekend Cheers 🇺🇸🍷🇨🇦😎
Hey 👋 Norm & Tina, I like what you did, out and about in the USA, sharing your views on saving during these times of inflation.
Our pleasure! glad you enjoyed it Eric have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🍺😎
so glad to “be along with you “ on your trip; You’re looking great!
Thank you!! glad you could join us Lyn have a wonderful weekend Cheers 🇺🇸🍷🇨🇦😎
We've been to Frankenmuth! We had a great time and ate at Zehnder's. We were surprised our waitstaff lived in BC, until we found out they were from Bay City.
Very funny Mike!
Thanks for always being there, to post just what I need to hear, during this downturn in the stock market. Thanks Norm and Tina. ❤️xo
Glad to help!
Wunderbar...thanks for the wonderful tips. I so would love to go to that huge Christmas 🎄 store but nothing tacky.
You are so welcome! It was like a wonderful Bavarian Disney ! all very cool Johnny and lots of fun 🤩 Cheers 🍷🎄🎅🇺🇸🇨🇦
With a solid plan put in place years ago to have a comfortable retirement, we do not overreact to the markets tanking. We don’t pay much attention to our investments as they are balanced and if it all evaporated tomorrow we could still manage on our pensions. It wouldn’t be pretty, but we would still be able to continue on until the markets rebounded. We have thought about GIC’s too and will look at that option more closely soon. Thanks for the memories of our visit to Frankenmuth we took years ago.
Sounds like you have a great plan in place Holly , glad our video brought back memories of your trip to Frankenmuth have a great weekend Cheers 🇺🇸🍷🇨🇦
Hey guys, nice to see you out again. It is lovely there. Visited there a few times before and love the little German town.
We had a lovely time there was so nice to travel outside of Canada 🇨🇦 again it’s been a long time Cheers 🇺🇸🍷🇨🇦
You're in our home state & one of our favorite places to visit! I hope you have a wonderful time! Thanks for keeping us up to date with all the great tips!
Our pleasure! we had a wonderful time Brenda Cheers 🇺🇸🍷🇨🇦🌺
Thanks for sharing and for the positive thoughts. It's good to remind ourselves to not panic with everything going on right now. I needed to hear this today. Cheers!
You are so welcome! have a wonderful weekend Kathi Cheers 🇺🇸🍷🇨🇦🌺
Hi Norm & Tina thanks again in sharinging excellent information. Look forward to seeing you next video every week. We have a question with your visit to Frankenmuth, would you be so kind to share the cost and place where you spent your time for the 3 days. Thanks and stay well and safe.
No problem Norm we stayed at the Drury Hotel we had a one bedroom suite with mini kitchen and lounge area it cost $188 US 🇺🇸a night , very walkable distance to everywhere Cheers 🇺🇸🍷🇨🇦
Oh how wonderful to be traveling! Enjoy and have a great time! Thank you for your videos!😊
Our pleasure! it’s wonderful Cindy to be travelling again and even just to get over that fear at the back of your mind with Covid etc .
So glad we came what a lovely place have a great weekend Cheers 🇺🇸🍷🇨🇦
I live 2 hours south of Frankenmuth. Nice little town! Thanks for the encouraging video. I’m retiring October 14, the day after my 62 birthday. Not the best time with the current market but I’ve waited long enough. Funny Norm mentioned Kinross Gold. I have that too but thankfully not much money in it. Last I checked it was 50% down! I’ve been through down markets before and you’re correct, don’t panic.
Congratulations 🥳 on your retirement John only 20 sleeps 😴to go to join the best club ever !! Being retired is the best have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🍺
Thanks for the video, in regard to downturns, I’m a big fan of the bucket theory. Keep 1 to 2 years expense in a very safe account (similar to your comments on emergency fund), 4 years in moderate (bonds) and the rest in an aggressive. This allows not having to tap into aggressive funds during down trends such as now
Well said! have a great weekend Clayton Cheers 🇺🇸🍷🇨🇦😎
Greetings, Norm and Tina! That's a nice place, I have visited it several times during the 70's and 80's when living in Michigan. That store was not that big... Zender's chicken was not my favorite so I would go to the other restaurant down the street. I like the fudge from there and still order to this day. They do deliver to me via mail. Good point regarding stocks, etc. I started buying stocks since they stated going down but so far have lost some $$$. But I will hold... Two of them are from your neck of the woods: $TD and $BNS 😁 Have a great weekend.
Thanks for sharing Tony we loved visiting Frankenmuth Cheers 🇺🇸🍷🇨🇦
I know it's scary for people who are recently retired or living on the edge.
We have 5 years of cash and cash equivalents available to us so a dip in the market, while painful to watch, really doesn't impact our lifestyle.
I have tried to set up a plan that allows 25% of our retirement income to come from dividend stocks, 15% to come from a rental house and the rest to spend out of our cash. If that plan works(I know it won't work just right) them it will take us for 8-10 years before we start taking SS. SS will then become about 60% of our income. We will sell the rental house and reload our cash reserves.
Once we are both on Medicare we will probably start trying to spend down our retirement accounts.
As you said,don't panic. A retirement last 30 years and in that time the market has always recovered nicely. Try your best not to sell during down markets.
I don't want to see people cut back too much. You saved the money for retirement so spend your plan unless you are in serious trouble.
Great comment we couldn’t agree more, congratulations in thinking through a plan, it doesn’t have to be perfect as you can tweak it as circumstances dictate. Thanks for sharing this point.
Aw great to see you getting back to your travels again!!
Yay, thank you! we had a great time in Frankenmuth Michigan it was however just nice to overcome the fear of travel with all our Covid regulations etc ( which are now going to be dropped Sept 30 th 🤔) hope you are well and enjoying a wonderful weekend Cheers 🇺🇸🍷🏴🍺🇨🇦😎
I look forward to your video's every week, you have inspired us to retire early and enjoy life to the fullest. I was so shocked running into you both today in the elevator, wish I would have had more time to tell you how much your video's have helped us. Best Wishes, Deb
Thanks Debbie for saying hello it was great to meet you in the elevator today although it was brief it made our day. We hope you are enjoying your retirement.
Great tips and ideas. I have for years been putting extra funds into gold and silver. Highly recommend hiding gold/silver.
Thanks for sharing Matthew hope you have a great weekend Cheers 🍷🇺🇸🇨🇦
Thank you for another great video! It has become my habit now to look forward to your video every week. ❤
You are so welcome! thanks Heidi for your support in watching our videos we really appreciate it , have a great weekend Cheers 🇺🇸🍷🇨🇦
Bonner’s is such a fun store!😀🎅The Silent Night hymn wafting through the air in the background….beautiful!🎶
It really is! have a great weekend Phylis Cheers 🇺🇸🍷🇨🇦
Hi Tina and Norm - hope you are having a wonderful time away. Thanks for the great ideas and sharing 😀. Have a great weekend. 🌞🥂
You are so welcome Cathy we had a wonderful time in Frankenmuth hope you are enjoying your weekend too Cheers 🇺🇸🍷🇨🇦🌺
Watching a few old clips of yours and came across this one. You're a hop & skip from my childhood home in Michigan. I hope you enjoyed your travels! I love your channel. I'm turning 55 and am prepping for retirement once my daughter graduates college...7 years! Were you scared to retire (running out of $)? If so, how did you over come that?
Thank you for watching our videos, yes we loved our visit to Frankenmuth and the surrounding area. Yes we were apprehensive about retirement and the money running out. Our solution as we didn’t have company pensions, was to sell our house and use that as our retirement nest egg. We rent an apartment and have some dividend investments.
We don't own stocks, have savings account only and I am fine with that. Budgeting is crucial for trips and unexpected repairs etc. We live a simple but very exciting life having the motto: Carpe Diem and "do what you can do well boy" attitude. I'm enjoying your videos as it does enlighten me about many issues I know little about. Have a great week. 🎉 🍷 🇳🇱 🙋♀ 🇳🇿
Seize the day! Anita, a great motto to live by and yes a good budget is empowering and informative. We do the same so we never over extend ourselves. At this point in life we value the experiences of travel more than buying stuff. Have a wonderful week. 👍😀😀💕
Fantastic video. I really had some smiles as you showed us around the charming Michigan town. (Been there). The walk about town blended well with your calm reassurances of balancing life during this down market time. I hope you are finding nice travel deals this season.
Glad you enjoyed it!
Isn’t Bonner’s something else? I’m not usually interested in Christmas anything before December but seeing all the decorations in Bonner’s can get you in the mood. That was where I saw my first prelit tree and it was just for display. I remember saying if I could find one in Canada I’d pay anything to get one 😄
I trust you had a good time on your first international foray.
We had a wonderful time there it was great to travel again Sheila outside Canada 🇨🇦 Cheers 🇺🇸🍷🇨🇦
Always great advice from you two. Enjoy your trip!
Our pleasure! thanks for watching Enid we are having a wonderful time so nice to be finally travelling Cheers 🍷🇺🇸🇨🇦
Nice to see you on location,yes the market is taking a beating, I myself don't have much personal individual stock but our nurses pension fund is heavily invested in the market so that's scary.there was a minister on tv that use to say tough times don't last but tough people do,here is to hanging tough. Have a lovely week.
Thanks for sharing Barbara yes we have lots of ups and downs over the years have a great weekend Cheers 🇺🇸🍷🇨🇦
I live pretty close to Frankenmuth great to see you there
Thanks Roger, we really enjoyed our visit, we had never been here before.
Sound advice. I negotiated a 15% reduction in my cable/internet bill by going to the cancellation department. You have to be ready to cancel though. Gold and silver are shiny option but with the US Dollar going up they are actually losing value but for Canada it is going up. I would also stock up on non perishable foods. They are talking food shortages and price increases. You
guys sold your home so you are not watching that value disappear. That is a positive. The saying when the stock market is down is America/Canada are on sale is correct but as long as they continue raising rates the selling will continue. Emergency Fund very important. Good Luck and God Bless everyone.
Great points thanks for sharing
Would love to go to Frankenmuth! Looks great! Again the voice of reason on the economy. I probably will work for 2 years more as I was retiring in 1 year. We will see where we are at next year. Thanks for the helpful tips.
We have loved visiting Frankenmuth hope you can make your numbers work as it’s great being retired Mona Lisa Cheers 🍷🇺🇸🇨🇦
Thanks for the tips and for visiting my home state! When I was a kid in Anaheim CA there was a park with a similar Korean era jet that kids could play on! It still had some wiring inside and I remember how hot the metal could get in the sun. Eventually they covered it in a stucco like material, probably to stop kids from hurting themselves. Thanks for bringing up a fun memory for me
Oh wow! your welcome Dan thanks for sharing your story have a great weekend Cheers 🇺🇸🍷🇨🇦
I from Fullerton, my parents used to take us to that park when we were kids.
I live in Windsor and have been to Frankenmuth quite often. Love the chicken dinner at Zehnder's and going to Bronner's where I spend way too much money.
Sounds great! we had a great visit there and not too far away as a drive 🚗 Cheers 🇺🇸🍷🇨🇦😎
So glad you got to visit our little little bit of Germany. Live just down the road. Sorry missed you would have loved to visited with you.
We had a lovely visit Paula have a wonderful weekend Cheers 🇺🇸🍷🇨🇦
We almost crossed paths in Frankenmuth Sept 14-16 while RVing around Michigan. Tomorrow, we're heading to Sault Ste Marie to see the Soo Locks. And yes, finances are a bit rocky right now because we can't be sure we're not heading for the 10 year inflation period that happened the last time.
Oh wow what a coincidence Tom that would of been , hope you enjoyed Frankenmuth as much as we did Cheers 🇺🇸🍷🇨🇦🎅
I sold my house in June in Toronto and have kept my money in a GIC and keep moving to a higher GIC as rates increase. I would be underwater if I took it all and put in in the stock market more than I would be with GIC with inflation. Will keep it there until I feel we avert a recession or weather it out. Probably be able to come back into market and do the proverbial advice to buy low and sell high. I still have RRSP in the market so when I retire next year will see where I end up.
Sounds like a great plan for now. Don’t overlook promotional interest rates for banks like Tangarine and credit unions, usually 4%+ for three to six months.
Replacing defined benefit plans with deferred compensation plans has been devastating for most workers. They only benefit fund managers and place the burden on the worker who is the worst pension fund manager
Thanks for sharing Cheers 🇺🇸🍷🇨🇦
As I doom scroll my absolutely crushed FIRE portfolio, your calm demeanor helps. We were going to head to Portugal and France this past Spring. We bailed out with the Ukraine invasion, as we predicted inflation, refugees, competition for resources, especially in former Soviet Eastern Europe (which was our plan to sae money). Now we are preparing to go cheap and FIRE in South America, in 2023. Hoping that our portfolio keep paying the dividends we need to shore up the cash accounts, without making any sale orders. Hoping Russia sees the errors of their ways.
It is troubling times but best not to let the news overwhelm you. Inflation used to be more of a regular thing back in the seventies and eighties, we will get through it. We see some buying opportunities and have got some short term GIC’s 6 months at 3.55% will buy some more at the next Fed hike. We don’t buy growth stocks as dividend aristocrat stocks were performing like growth stocks but with more safety. Good luck with your travels and investments.
Nice to see you in the United States and thoroughly enjoying the change in scenery!🌞😀⚘❤
We had a great time Richard , lovely to get over the Covid travel regulations which are now going to be dropped end of Sept !! and what a great place Frankenmuth was to visit , have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🍺
Great thing seeing you both in the USA and listening to your advice ❤
Thanks so much, it was good to be back 🇺🇸🇨🇦
My cousins did an annual trip up to Frankenmuth from Detroit, and my grandma always pronounced it Frankenmoose!
What a great idea thanks for sharing Cheers 🇺🇸🍺🇨🇦🎄
I have several high-quality stocks and use a dividend reinvestment program to buy additional shares. Over the years this has resulted in owning a large number of shares with no additional capital investments, except when I though I could make a killing.
Yes Jerry we are doing pretty much the same as you
Frankenmuth is a wonderful tourist town!
Sure is
Great video guys. I have my money in cautious funds managed by my financial advisor. Definitely going to review these in the next while. I love Frankenmuth as a location. Was that 'Silent Night' playing in the background at the Chapel? 😉 As for saving money, we were brought up in Dublin, before central heating so we just put on a jumper if it was cold! U'll remember that, coming from the UK. Don't think that would work in Canada though. Thanks as always for your work in researching and producing these programmes. I enjoy them all. Ur both looking great too. Catch u on the next one!!
Yes they only play Silent Night as this is a reproduction of the Austrian chapel where it was first performed. Yes we would put a jumper on in England but we get around 10 to thirteen days below -30°C ☃️ That’s why we escape to Portugal for a few months. Thanks for watching we appreciate it.😀😀
Welcome to Michigan!
Thanks so much have a wonderful week Cheers 🇺🇸🍷🇨🇦
Thank you for being so open and honest. I love that about you two. Plus I think you two are so cute together, I love watching your videos.
Thank you so much!! glad you enjoy our videos Linda Cheers 🇺🇸🍷🇨🇦
It's always good to have silver and gold on hand because when the you know what hits the fan and the stock market crashes everyone looks to gold and silver for safety. So get it now before the market does explode, and it will be you can watch your silver double and maybe triple. I bought at $13.26 an ounce silver $6000 and it went to $26.80 when I got out. Well I took out something like $10,000. It was a fantastic investment. Cheers 😘🥂😘
Sounded like you got a great deal , hope you are enjoying a nice weekend Cheers 🇺🇸🍷🇨🇦😎
For GICs, I am buying 1 yr GICs, but staggering the maturity dates so that each month in 2023, I will get a GIC maturing and thus have money available if needed . .
Thanks for sharing radarman Cheers 🇺🇸🍷🇨🇦
Doing the same thing.
I'm holding my dividend stocks and letting the dividends reinvest - buy additional stocks at a lower price (right now). My best advice is to live a frugal common sense life and to maintain your health.
You two are visiting my home state of Michigan! I live about two hours south from where you are in this video 😁
We are doing the same, at least dividend stocks are paying us to wait for better valuations. We hadn't traveled in Michigan before, just a route south for us in the past. We enjoyed our time in Michigan and will be back!
Very good! Taking things as they are and not panic.
Thanks Ian
During the course of a 30+ year retirement we will experience many different market condition. You have to be prepared, flexible and go with it. Otherwise you will be miserable. The best retirement plans furnish sufficient cash flow to live comfortably no matter what the markets ..
Very well said VP hope you have a wonderful weekend Cheers 🇺🇸🍷🇨🇦🍺
Good to see you both enjoying your trip. Thanks for the info. Have a great time . From small town in USA 🇺🇸 cheers! 🍻🍷
Our pleasure! we had a wonderful visit Cinde so much to see have a wonderful weekend Cheers 🇺🇸🍺🇨🇦
Best to buy gold and silver. If you buy per person just shy of $10,000 per person at a time then it doesn't get tracked by fintech. Just have it. don't even put it into a safety deposit box cause when the banks close their doors you won't be able to get at it. You may be able to get a limited amount of fiat money out of an ATM and I mean limited.
Thanks for sharing good point not to put in your safety deposit box 📦 Padi have a great weekend Cheers 🇺🇸🍷🇨🇦
Don't panic Mr Mannering... (quote from the British 'Dads Army' tv series). The next month could be the best time in recent history to buy shares.
Ooh we used to love Dads Army ! agree great time to buy Lloyd Cheers 🇺🇸🍷🇨🇦🇬🇧
Sounds like such a lovely trip to Michigan. We put our money in safe accounts a few years ago. We only have a small amount in the stock market. It’s too volatile
Another great video Norm & Tina
That is awesome! we don’t like all our eggs in one basket either so we too are mixed cash and stocks, have a great weekend guys and stay well Cheers 🇺🇸🍷🇨🇦
I’m 7 years from retirement and afraid of the stock market. My retirement funds are in my savings account. Am I crazy?
@@yolandacastillo6312 one of our options in our 401k account is a fixed rate so we moved most of our retirement $ there and out of the stock market. We saw this coming and with our age we don’t have time on our side to make up big losses. We sure don’t think you’re crazy
Two years before I retired, I reallocated my IRA funds to 60% income mutual funds that produce a monthly dividend per share. I found funds at the lowest price per share, very stable price history, and highest dividend per share. At this time, even in a recession in the USA, I could pull dividends from them totaling about $580 per month. I don't need those dividends yet and they're being reinvested. But it's an option people should consider.
Thanks for sharing have a wonderful weekend Cheers 🇺🇸🍷🇨🇦
As Warren Buffet has said, “ the stock market is a device for a transfer of money from the impatient to the patient “..So hang in there..We will have better days..I’m looking forward to the increase in GIC payoffs next year..Hopefully get above 5%..This will be the route to go for a lot of us seniors..
Thanks for sharing Al Cheers 🇺🇸🍷🇨🇦
Buffet also said about Berkshire Hathaway stocks "Our favourite holding period is forever". Agree, if it's good stocks like aristocrats, hang in there.
I believe it was Suze Orman who was saying that future retirees should start looking at pulling back from investing and start building up their savings accounts with cash. Like, lots of cash. 2-3 years of living expenses. That way you have the means of getting by on your cash while the markets sort themselves out. If they ever do. My CFP will likely have a heart attack if I suggest this, lol.
Thanks for sharing Mark , if you have the cash 💰 you can get great deals when the market is low hope you are enjoying a wonderful weekend Cheers 🇺🇸🍷🇨🇦
If you are at retirement age they shouldn't have a heart attack with having 2-3 years of living expenses in cash or near cash like GICs. That was recommended to me when I first retired by my CFP. If they do have heart attack you might want think about who's interest they are looking out for.
@@ddavidson5 lol, I was joking. Both our CFP's are very practical, and are supportive of this decision.
I agree on your point in investing in physical gold. Fiat currency has been out of the gold standard since President Nixen abolished it in the 70"s. Nothing presently backs paper money except a "promise to pay". We live in a changing world (geo-political) and a growing number of countries are now using their currencies for trade as opposed to the US dollar. I firmly believe we are on the cusp of reverting back to a gold standard. I personally would not touch ETF's with a barge pole as nothing beats holding physical gold in your own hands. Sadly here in the UK we have to pay 20% VAT on silver. If that was not the case I would be buying silver as well (Britannia silver coins that is).
Wow thanks for sharing Steven 20% Vat on Silver yikes 😱, have a great weekend Cheers 🍷🇬🇧🇨🇦🍺🇺🇸
Love you guys, but you buried the lead!!! The best advice is to adjust spending, stay the course and not panic. Individuals trying to outfox the markets by trying different schemes to find better returns essentially reduce things to luck (did you make your moves at the right times as opposed to finding a new better portfolio).
Also, gold has been a very inefficient hedge against inflation. While it's true that gold/precious metals can explode in value during times of very high inflation (especially when it's prolonged like the 70s), during periods of more routine inflation gold has actually lost value. So it's a high risk play, sort of betting on a long shot that inflation won't be brought under control anytime soon. I consider precious metals to be more speculative than a long term hedge.
It took me too long to learn this, but chasing returns is just about the best way to always miss long term opportunity.
We are buy and hold investors rarely selling, hold quality dividend stocks. Bought a small amount of stock in a gold producer. Have cash on hand buying undervalued equities in quality companies. Thanks for sharing your thoughts.
OMG. You were 90 minutes from our house. We would’ve come to Frankenmuth for the chance to meet you!
Oh wow what a small world , that’s very sweet of you hope you are having a wonderful weekend Cheers 🇺🇸🍷🇨🇦
Our financial advisor is giving us the same information as you are in this video: Buy quality, stay in the market, diversify, buy a few corporate and municipal bonds, and go for the long term ride. Never failed. Our portfolio is down 18%, but still in 8 figures! Now buy USDA Choice and not USDA Prime.😮
Thanks for sharing! have a great weekend Frank Cheers 🇺🇸🍷🇨🇦
sounds like fun, I myself have taken some trips to Montreal and Windsor this month, the travel industry looks to be picking up these days!!! take care!!!!
Sounds great yes we think more people are staring to travel again you take care too Cheers 🇺🇸🍷🇨🇦
Very appreciative of both the Retirement investment tips & Frankenmuth MI.
Could you please elaborate on how to purchase gold and silver? I have concerns about not knowing if I am getting ripped off. Also how would you use it if needed to purchase something? How have people approached their financial advisor regarding taking funds and putting them in physical gold and silver?
Financial advisors will say don’t buy more than 5% of your portfolio in physical silver or gold and be aware it’s a risky investment. Google bullion dealers or talk to a local coin store in your area and compare prices.
Great content. I always learn something new from you two. One of my favourite couples I follow on social media. Thanks for sharing your trips and tips and Frankenmuth, which is now on my bucketlist :). Have a great trip.
Awesome! Thank you! we are glad Frankenmuth is now on your list have a great weekend Cheers 🇺🇸🍷🇨🇦😎
I lived in Heidelberg and Wuerzburg in Germany. I miss their Xmas night markets!
We are sure they would be wonderful Pamela thanks for sharing have a great weekend Cheers 🇺🇸🍷🇨🇦😎
Be sure to diversify!! We have our retirement in Mutual Funds, several savings accounts emergency fund and bought a condo looking over a lake in a tourist town with highly desirable neighborhoods. Our financial person recommends two years of monthly needs in cash right now to "hold tight" until this current downtown ends.
Thanks for sharing Donna have a wonderful weekend Cheers 🇺🇸🍷🇨🇦😎
In the US you can buy inflation bonds or I bonds. You can only bou 10K a year per person digitally or use your tax refund tobuy another 5k. Right now Ibonds are paying 9.62 till oct and I believe the next six months in the 8 %.
Wow great rates ! thanks for sharing Kaitlin, have a wonderful weekend Cheers 🇺🇸🍷🇨🇦
I think you need a US social security # to buy those..
@@michaelprinaris2250 yes you probably have to have one. But most Americans have that
@@michaelprinaris2250 Anyone can buy U.S. T-Bills though.
Enjoy your time in Frankenmuth Michigan.
It's a great place to visit with lot's to do.
It really is! lots of great things to see we really enjoyed our visit Cheers 🇺🇸🍷🇨🇦
Some good advice. Enjoy your videos. I’ve heard of this town your visiting. Might take a drive. :)
We had a lovely visit definitely put on your bucket list Brian Cheers 🇺🇸🍷🇨🇦😎
Lovely to see that u have now left Canada for first time in a few years!
Great tips - Keep Calm and Carry On - British mantra 😂😂😂
It was wonderful to travel outside Canada 🇨🇦 Deborah, all new and exciting when you visit somewhere new and coping with the travel regulations which are now going to be lifted later this month !! hope you are having a wonderful weekend Cheers 🏴🍷🇺🇸🍺🇨🇦🌺
It’s a lovely sunny weekend here and the end of official mourning for our wonderful Queen Elizabeth 11.
I’m sure you watched a little of her funeral over there too.
It was very moving, xx
interest rates in general should not affect retirees that much. They should not be taking out a new loans or buying on credit for anything. I think I would just stick with your existing mutual funds. But yes, some cash on the sidelines.
Yes we agree Billy 👍have a wonderful weekend Cheers 🇺🇸🍷🇨🇦😎
Dividend stocks like TD,CM are better than GIC,ETF,MF for long buy gold as TSFA really a very interesting idea. Thanks for sharing 👍
Glad you enjoyed it have a wonderful weekend Cheers 🇺🇸🍷🇨🇦
Darn. I guessed wrong where you were, but now I'm aware of another covered wooden bridge ;^))
Always good to hear you sharing your thoughts especially on this matter. Many thanks.
Your welcome have a wonderful weekend Cheers 🇺🇸🍷🇨🇦
Hello Tina and Norm. We also live in Ontario. In your video you mentioned a 3 month GIC at 4%. Could you please share with us where you got this. We would be grateful to know.
TIA. Keep up the good work. We are newly retired and very much enjoy your videos.
Sorry it was a one year GIC’s at EQ Bank, 2.5% for 3 months.
Are you guys going to do a video when Tina gets her British Pension? It should be within a year. It would be interesting to see a comparison between the British Pension and Canada's CPP. It would also be interesting to find out if the U.K. has something similar to Canada's Old Age Security Pension (OAS) or the Guaranteed Income Supplement.
Tina won’t get her British pension till she is 67 on the new rules, so a couple of years to go yet , thanks for watching have a great weekend Cheers 🍷🇺🇸🇨🇦🇬🇧😎
Are you considering going to Saginaw Island? Before it gets too cold, you might enjoy that. It's very "old timey" there.
Thanks for the suggestion we weren’t there long enough perhaps next time Cheers 🇺🇸🍷🇨🇦
Good advice for sure! Non-redeemable GICs in a TFSA are attractive.- Mike from Ottawa
Thanks for watching have a great weekend Mike 🙂☕️