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Canajun Finances Home » Paying Children to Move out, Sears, and #MoneyTalk

Paying Children to Move out, Sears, and #MoneyTalk

How much would parents be willing to pay adult (over 18) children to move out of their house? According to the CIBC it is $24000 , which is a nice round number. I have written about Kippers and children living with their parents, so this data is of interest to me. The CIBC Gifting Poll, suggests there really is a magic number that parents are willing to shell out to get kids to move out. The poll mentions how “… gifts shouldn’t come with strings attached…” but I have no problem, calling a bribe, a bribe.

Estimated reading time: 5 minutes

Another interesting point is the flood of inheritance money that will be unleashed as the baby boomers pass on their amassed fortunes ($750 Billion over the next decade?). I don’t know many folks that speak openly of inheritance money they expect, but if you know for sure you are receiving it, shouldn’t this be part of your financial plans? It sounds quite crass, but if the money will be arriving some time, why not add it to your plan?

I was disgusted to read that Sears employees are not getting their severance payments, yet, executives are having their bonuses paid. This cuts too close to the bone for a former Nortel employee. Nortel is finally paying out to their former employees (at pennies on the dollar), what the employees are owed. This kind of business bad practices that really does get under my skin.

I think the deepest thought I read in while was, “Hipsters listen to the Best Of albums, but real fans listen to the complete original LPs”. It is deep because there are so many parts of that phrase that my children wouldn’t understand. What is a Best Of album? What is an LP?

Next thing know that this was a major advancement in engineering and finance.

Slide Rule
Behold the Magnificence of the Slide Rule!

I Wrote This Week?

Yes, I did write this week. I have been working a very loose schedule for the past while, I am hoping to step up the pace a bit more soon, but this week I wrote Low Inflation Means No More Interest Hikes ? Will the continued low inflation keep the interest rates low? I don’t think so. The Bank of Canada has been fairly clear that there is too much stimulation in the economy with low interest rates. I am assuming there will be at least another 1/2 point raise of rates if not more, but low inflation may slow other rate increases?

Micro Blogging

I am experimenting with tweets and Facebook posts that are not full stories, but get a point across about the economy, witness this GIC commentary. I would bet there might be a few millenials that might have asked, what is a GIC?

Lazy, Hazy, Crazy Days of Summer

Not a commentary on the political world down south, just remembering one of my favorite Nat King Cole songs.

Total Debt Load

No one really answered this query I put up on Twitter and on my Facebook feed, is this still the case? Doesn’t the banks worry about your possible total debt load when they loan you money for your house?

2017 Random Thoughts

1st Quarter 2017 Random Thoughts

Feel Free to Comment

  1. I agree with the other comment. But its a case to case basis depending on the parents and the kids. There are parents who are very open and let their kids use their money and make it as their own. Others just let it be until their dying days. In my case, my parents are still alive and I really don’t mind including it. Out of respect, it never occurred to my mind. If time comes, well that financial plan can happen.

  2. “I don’t know many folks that speak openly of inheritance money they expect, but if you know for sure you are receiving it, shouldn’t this be part of your financial plans?”

    It’s not part of my financial plan. 1)Yes, it is crass. 2) It is still their money. 3) When nearing the end, if it can buy time.. buy time.

    1. Agreed and absolutely if it buys more time for them, then they get to blow all of it if need be. More than a few times I have heard aging friends say they won’t do things so that they can help their kids, I keep telling them, “It is YOUR money, do what YOU want!”

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