THE Random Chat Thread - AKA "The RCT" - No shirt or shoes required - Open 24 / 7

[releventchair]

The whole .25% interest rates that we have at the moment is going to just put folks into this unrealistic burden of repayment once the rates go up.
Will they go up? Just have a peek at the debt/earning ratio here it's now $1.80/$1.00 earned average.
So now have a peek at the national debt and it's a scary. Imagine if the rates were like they were in the early 80's.

The debt trap-buy-put the amortization over a long period of time. The national average for US auto loan interest rates is 5.27% on 60 month loans. Oh that new car smell.
Homes today even the rural are selling for $100K over the asking-these are the fixer up ones. The assessments are now going to double on homes-which increase the $$$ for the coffers of the for the spending. The mill rate might stay the same but the value of the home has increased to the point where one is saddled with a unrealistic debt to live under a roof.

The assessment of farm lands has doubled in the past couple of years-why-because the Western Ontario farmers are buying the properties in the Eastern region-so double the value.

Yes the debt trap of life-25-30 yrs to own the roof over the head-remortgaging every 1/2/5 yrs spreading it out, paying double for the roof.

I don't get why folks do this-to buy more-and in actual reality they have less because they've put everything up for collateral to buy more.

Buy a home-get a mortgage-oh whooppee the branch makes $150.00 but that's not what they are after. It's the credit card, banking fees, line of credit, the auto loan. the insurance, the cash, the piddly retirement investment plan.
oh the retirement plan, put away for the rainy day-earning a pittance-while paying off the loans. Oh that makes for a great financial plan-for the loaner.

Oh I have had the debt and the lowest on was 5 yrs-no matter what I bought in life and when. If I didn't see it clear in 5-forget about it as it was living out of my means. Sorry bank/credit card companies I'm your worse customer, as I don't like your numbers, but I do like using you.

Banking fees-what a game that play-turn it around on them-have the minimum balance where they reverse the fees every month. It's making more money on that $$$ than any investment today-by just sitting there doing squat.

I can recall being flat broke around 1980 when other folks were living off interests from C.D.'s.
The banks had boards with changeable plastic number and letter squares that were constantly changing , mostly upward on yields...
Now that I'm out of debt (somehow finally) I look at the pittance of interest earned by loaning the bank money , (vs what the bank earns) and scratch my head.
Somehow I used to have the idea of putting interest to work earning interest. (My feeble measure of success with money.)
The amount of interest being received hints that I'd be making a handful of change putting it to work earning interest.
I could acquire a tractor with the right things wrong ( the right thing (s) wrong for my skills to fix) and resell it for a lot more money. In theory anyways...

 

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[pepperj]

I can recall being flat broke around 1980 when other folks were living off interests from C.D.'s.
The banks had boards with changeable plastic number and letter squares that were constantly changing , mostly upward on yields...
Now that I'm out of debt (somehow finally) I look at the pittance of interest earned by loaning the bank money , (vs what the bank earns) and scratch my head.
Somehow I used to have the idea of putting interest to work earning interest. (My feeble measure of success with money.)
The amount of interest being received hints that I'd be making a handful of change putting it to work earning interest.
I could acquire a tractor with the right things wrong ( the right thing (s) wrong for my skills to fix) and resell it for a lot more money. In theory anyways...

I've always bought and sold since I was young so it just a part of life. I realize now that what i earn on anything is basically nothing so we do it other ways to actually save/make money on what is going to be spent anyways over the short term. Going to eat/use X amount of product X-we buy case lot prices, or 10-25kg bag/case of X, and the savings on the item is way more then what we could of earned. The money is working for us just in another way-different yes.

 

[releventchair]

I've always bought and sold since I was young so it just a part of life. I realize now that what i earn on anything is basically nothing so we do it other ways to actually save/make money on what is going to be spent anyways over the short term. Going to eat/use X amount of product X-we buy case lot prices, or 10-25kg bag/case of X, and the savings on the item is way more then what we could of earned. The money is working for us just in another way-different yes.

Oh yes. I've bought and sold and bartered...

Recall one deal where I traded a set of three way auto speakers for a pair of two ways and a woodstove.
Put that stove to good use , and still had tunes!

Not sure how I came up with 20 dollars for a car the previous owner traded a watch for. But sold it years later after I'll made a field car /hauler out of it , for a hundred dollars.
Found a deer antler bowled pipe hidden in the roof liner of that car. Probably traded it for something...

 

[RTR]

I'm curious, does anyone have a special Valentine's meal planned for tonight?
All of the eat-in restaurants are still closed here due to the Covid imposed shut-downs, so I'm making a special meal for my wife and daughter tonight.

I'm making hand-breaded, gluten and dairy-free tilapia, wild brown rice with brussel sprouts and rainbow sorbet for dessert.

Hope everyone has a great Valentines Day,
Dave

The boss gets what she likes.I'm just the chief cook and bottle washer

 

[Duckshot]

Today being Valentine's Day I went to the tavern, alone of course. There were two of my friends there taking about what they got their lady friend for the special holiday. Bill said he got his girlfriend a box of chocolates and dozen roses. Fred told us he got his girlfriend a card and two dozen roses. Then Bill asked me what I got my girlfriend Sally and I replied, "I got her a drink token for the tavern and a cordless screwdriver".

They both looked bewildered and Fred asks "Why did you get her THAT!!?"

I says- "If she doesn't like the drink token, she can go screw herself".

 

[WHADIFIND]

I make my *profit* this way.

 

[WHADIFIND]

Cap'n makes his *profit*....this way.

 

[bill from lachine]

Jim,

Got off the debt treadmill many moons ago thankfully. Bought our first and only home in 1985 for about $70,000 with a $60,000 mortgage and we were both shaking signing the mortgage papers.....

Paid off in 8 1/2 years....the going price for our house today is $550,000/$650,000 range.

Zero debt with a healthy retirement cushion put aside.

That allowed both me and the missus to quit the rat race earlier than most folks.

 

[WHADIFIND]

 

[bill from lachine]

Appropriate song for today.

 

[WHADIFIND]

Jim,

Got off the debt treadmill many moons ago thankfully. Bought our first and only home in 1985 for about $70,000 with a $60,000 mortgage and we were both shaking signing the mortgage papers.....

Paid off in 8 1/2 years....the going price for our house today is $550,000/$650,000 range.

Zero debt with a healthy retirement cushion put aside.

That allowed both me and the missus to quit the rat race earlier than most folks.

Seems strange. My father's suburban house cost him 15k.

 

[bill from lachine]

Jim,

Yep I remember one time telling someone that by going to 2 different stores and buying x products I saved $10.00. The said why bother? My answer was that $10.00 bought us 10 lbs of chicken legs so we end up getting 10/12 main courses of protein for free.

Do that over and over again at the end of the year and that's all tax free money or at least extending the benefit of the funds you do have.

 

[bill from lachine]

WIF,

It all depends on where and when people bought. Our house was built in 1950 and originally sold for $10,000.

 

[pepperj]

Jim,

Got off the debt treadmill many moons ago thankfully. Bought our first and only home in 1985 for about $70,000 with a $60,000 mortgage and we were both shaking signing the mortgage papers.....

Paid off in 8 1/2 years....the going price for our house today is $550,000/$650,000 range.

Zero debt with a healthy retirement cushion put aside.

That allowed both me and the missus to quit the rat race earlier than most folks.

That's what I'm saying, double down/knuckle down get rid of it. Then it's all one's own time after that to do what they please with.
I did at 48, but I didn't realize that retirement was so much work.
Then again I have to stop setting the fires.

 

[bill from lachine]

Jim,

Problem is when you're retired no weekends off and you can't tell the boss to shove it....

We're probably our own worse boss truth be told.

 

[ARC]

Jim,

Problem is when you're retired no weekends off and you can't tell the boss to shove it....

We're probably our own worse boss truth be told.

Agreed... I would fire myself daily.... then rehire myself the next morning . :P

 

[pepperj]

Jim,

Yep I remember one time telling someone that by going to 2 different stores and buying x products I saved $10.00. The said why bother? My answer was that $10.00 bought us 10 lbs of chicken legs so we end up getting 10/12 main courses of protein for free.

Do that over and over again at the end of the year and that's all tax free money or at least extending the benefit of the funds you do have.

Was buying our cooktop a few years back and we have a mish/mash of everything for cookware.
There's this 10 pc 7 ply stainless cookware by Wolf, there was no way I would pay what a set was worth.
Well this set had been sitting there for a few years it seemed, it was marked down nearly 50%, still I couldn't justify the money.
The owner walked over and started to smooth chat me, great set, has one, loves it, you know folks you either done it, or had it done to you.
I looked Mr.C and said I'll give you $300 cash for that set.
He looked left, glanced right-looked over to his sales guy sitting at his desk, and said put this in the box for Jim.
We just put it in the pantry this past week, being sitting in the storage room downstairs since we brought it home.
https://www.kitchenessentials.ca/wolf-gourmet-10-piece-cookware-set/

 

[pepperj]

Oh yes. I've bought and sold and bartered...

Recall one deal where I traded a set of three way auto speakers for a pair of two ways and a woodstove.
Put that stove to good use , and still had tunes!

Not sure how I came up with 20 dollars for a car the previous owner traded a watch for. But sold it years later after I'll made a field car /hauler out of it , for a hundred dollars.
Found a deer antler bowled pipe hidden in the roof liner of that car. Probably traded it for something...

We are always doing some form of buying and selling/trading. It seems to be eggs at the moment and trying to build an easy little group together to sell to, as we don't need a lot of folks just regular buyers. Now a couple of the woodworkers want eggs-but the labour rate.to laying rate is a bit lopsided.
We have beef now that can even things up real quick, as some guys can put an hr in and feed the family real well for many days on a trade.

 

[pepperj]

Agreed... I would fire myself daily.... then rehire myself the next morning . :P

I hear there's lots of job opportunities on the graveyard shift.

 

[WHADIFIND]

Jim,

Problem is when you're retired no weekends off and you can't tell the boss to shove it....

We're probably our own worse boss truth be told.

There's another problem too. Once retired? There *are* no weekends. Every day....same thing...diff day. Only thing you know for sure, is that the sun *might* come up in the morning.