The poster Mel Giblson at van4um will soon fail.

[Psychic]

He only had one hundred grand in the bank before he bought an ugly new work truck and a slum house as well as a dated leather couch. It will take him a year before he could possibly make any money at all back from his truck. He is destined for failure. He lives for the moment. This is why his wife left him and he a result as his substance abuse. We wish you well from Our Forum, Mel. God bless you, son. I know you did not have an easy childhood with your sickness and poverty.

[Blue Frost]

A hundred grand is pretty good if you have it in the bank, most people have nothing worth mentioning now days.
I have not talked with him much, but he seemed like a good guy. I do hope him well, and good health, he was very nice to me.

[Trucking Expert]

It is not much money when you are buying a new place with furniture, are not working, burn your bridges in your industry (trucking), etc.

[Blue Frost]

Well maybe, but you can save a lot eating noodles, and rice
I don't know his business so I can give no real comment, it's his to live with.

[Business expert.]

Yes, he will fail. It is too bad it is his life to live. He is destined to fail.

[Psychiatrist]

He blames his ex for the split, however he is unemployed and instead of working he spends all day and night drinking hard liquor and posting psychotic things on anonymous forums. He still lives with his parents although he is nearly four decades old. He mentioned how he nearly murdered his mother. Of course his ex would split. It sounds like he has an Oedipus Complex so his rage would likely be transfered to his wife when his mother dies. She is lucky she left. He is now posting pictures of her and claiming her is searching her computer activity to put blame on her.

[Blue Frost]

Dom you even know what the Oedipus complex is ?

[video][/video]

[Odinson]

According to his bank statements, he has close to a million dollars in his bank account.

Plus he has a nice condo, dump truck, Harley Davidson and a ford mustang.


He is probably wealthier than the TBC crew combined.

He is a sub-contractor.. Theres good money in that.

[Blue Frost]

LOL, I live in a basement, and have close to half million, but wont touch it since in investments.
So all in all I have little, and after the government takes a cut ill have half that most likely.
One day Ill take it out, might have a good time.

[Renee]

LOL, I live in a basement, and have close to half million, but wont touch it since in investments.
So all in all I have little, and after the government takes a cut ill have half that most likely.
One day Ill take it out, might have a good time.

He has money because he sold his dead mother's house recently.....the way he drinks...I give his money about 2 years before its all gone.

He lives in a 3 room condo in some hillbilly section of British Columbia, owns a used car and a dime a dozen Harley sportster.

He claims to own his own business hauling dirt but he's so dumb that even Gordy Gambino has to explain business profit and loss and depreciation to him.

Best of all he's a God damn loser who brags about the fact that he gets so fucked up that he loses bladder control while passed out....no shit, it's true. I've been having fun with that all day.....

And that's only the tip of the iceberg know as Mel....

[Blue Frost]

Mel's life is no matter to me, but I wish he could get some help for his own good.
I hate hearing this stuff about people in general, wasted potential.
I don't look down on people where they are from, or if they like their life, he can live as he wishes as long as it don't hurt anyone else.

[Mel Gibson]

Too many misconceptions in this thread, and I should clear up the uncertainty...

I live in a suburb of Greater Vancouver, which is hardly 'hillbilly'. Condo is now fully paid, and would probably sell for close to $400,000.

I have zero debts, and investments totaling about $350,000 which continue to grow due to dividend reinvestment.

My business is still up and running, with truck & trailer completely paid off. It probably has a value close to $100,000.

I wish I could state that I'm a multi-millionaire, but unfortunately I'm not... My goal, however, is to have around $1,000,000 in investment wealth upon my retirement, and I should be able to obtain that goal by the time I'm 65 or so... If a stock pays a 7% dividend, that would mean $70,000/year of income without touching the principal, plus whatever I'd get from Canada Pension. Enough to live a modest, but comfortable life on.

I am thankful that I'm doing better than the vast majority of people. I would rather not have to work, but unfortunately I have a couple more decades to go before I can even consider retiring! I don't want to end up as one of those poor old seniors that has to hobble around in darkie infested neighbourhoods to stand in the food bank lineup to get a bag full of expired shit!

[Mel Gibson]

I should add that I still occasionally play the lottery, so I do not discount the fact that I may win the top Lotto Max prize of $50,000,000 at any time now!

[Blue Frost]

If still working I would likely have a million about now, I had about $400k when i got injured saved, and in investment.
It's all tied up in stuff, but I have been thinking about drawing on it some for some stuff I enjoy, and home improvements.

[Mel Gibson]

Invest it in dividend paying stock if you haven't already, and just take those dividends out in cash as income! That way you aren't touching the principal...

[Blue Frost]

Maybe, have to think about taxes though with that.
I guess I could move to part of Mexico, and live it up with some pretty senoritas doing my biding.

[Mel Gibson]

It would be hard to avoid taxes on those dividends... I do have to declare my dividends come tax time, unless they are dividends earned in my Tax Free Savings Account, since they are income...

[Mel Gibson]

I would look into solid dividend paying stocks if I were you... It's what I have focused my entire investment portfolio on now.

I am not as familiar with US stock holdings, but here it is not a problem to find a solid 5% dividend return with a solid company. I have made one mistake in the past to hold stock in a company that paid well over 10% return in dividends, and I should've known that dividend payouts that high weren't sustainable, and they generally aren't...

You can find solid 5% to 7% dividend payouts here without much of a risk though. Either have it DRIP, or take it out as income depending on your needs!

[Blue Frost]

I would be happy with 7%, at least them I would be making some good money, 28K a year from investing would do a lot for my family, and me.
But then comes the taxes, 28K you might get away with 18 in the end after tax

[Mel Gibson]

It does appear that your system operates slightly different from ours... If I understand it correctly, your dividends are taxed exactly the same as income would be?

We have a 'dividend credit' which lessens this blow, and its purpose is to consider the fact that the business you've invested in has already paid corporate taxes, so the investor doesn't get hit as hard from a tax standpoint.

As you can see from the chart below, this country makes it quite ideal from a tax standpoint to receive quite a bit of dividend income before it's even taxed (investment dividends would generally fall under the 'Eligible Dividends' category)...

You should speak to someone at a bank to see if there's any way you could minimize your tax hit, because you sure are missing out on some income if you aren't earning dividends every three months (some companies do pay monthly)!