Recent content by cornflakes

I would like to still believe that the US is the greatest place on earth to make money, but what I don't understand is how can one ignore the 20 trillion dollars in debt and rising? I'm not sure how anyone can claim that a country's future is great when they can't pay back 20 trillion dollars...

Thanks for that response Howl. I appreciate how you made it clear and simple for me to understand. In general, my opinion of Toronto and the surrounding area seems to be very positive in terms of growth (jobs and investments). Feel free to correct my assumptions or add in anything I'm...

Thanks again. Those were all very helpful responses and information about financial advisors and goal-setting. All this investment thinking is very new and fresh to me, so I know it will take many repetitious Q-A's. Sometimes being told the same thing over again is a good thing because a...

Yes, that would be a wise thing for me to seek a financial planner. Do you know if consultation on the first visit is free or do they expect me to pay some fee (paid consultation?). Sometimes I'm not sure when I'm expecting too much free info from someone and maybe they are normally supposed...

Oh I see, it's a tax on profits. So how much capital gains tax are we looking at here? Let's use that example again. If I bought a place in 2016 for 300k, and when closing date arrives in 2020 and the place is now valued at 340k, how much CGT do I pay? 5k? 10k?

Aha, now I need to look up what a capital gains tax is.

Thanks, all great questions and things to know ahead of time for sure. I did sort of mention what I was looking for somewhere near the beginning of my posts (or maybe it was on another thread called, "Why North York is expensive...." something like that. So to answer your questions: I'm only...

Yes I agree Mislav. I mentioned a bit earlier in my posts that my situation is sort of favorable right now in that I already have a place to live in (that my job provides for me free), so that's why investing in a condo seems like a great idea for me because I don't need to find another place...

Thanks again for the response. I liked some of the things you wrote even though I don't think I fully understood it all. I'm not sure how the "rich" swindle and take off with billions of people's retirement funds and savings. I wish I knew more details of exactly how this happens or works and...

Could you please explain why you believe the US is least likely to face an economic collapse? You said that when countries face instability, they tend to run towards stability and so they are rushing money into the US. I've heard both sides now. Some said that the US is most profitable and...

Some of you may have heard about the economic collapse that is bound to happen very soon in America as a result of their endless printing of currency and the growing debt. Fiat currencies have ALWAYS failed and it's not a matter if IF but WHEN the US Dollar will come crashing down, too. This...

Thanks for the response. Yes, this is the kind of detail I was looking for. You gave me some more insights I was looking for. I'll look into some of the pointers you mentioned here. Just out of curiosity, what do you think about putting some of my money into startups? Do you think...

Thanks BMO, this is the kind of answer(s) I'm looking for. Very good details!

Can you elaborate? Why do you like the area IF the area isn't appreciating in property value? Surely, the reason why you "like" the area is because it is a hot bed in Toronto right now for appreciating value and high demand area where a lot of development is happening, and will continue to...

Thanks everyone for your input! All great points! Yes, as I said, I'm "new" to this condo investing thing. Obviously, I don't know enough to make a good decision right now. This is why I joined this forum and asked. It's nothing immediate that I need to do. I have a good 7 months or so to...