Dr. Garth

Iran. Venezuela. Cuba. Greenland. Calgary. Is nowhere immune from the orange guy?

Of course there are safe havens, cries Nurse Jiggles, resplendent in her battle fatigue shorts and designer combat helmet. This clinic is non-political, non-lethal (most days), non-combative and specializes in smothery hugs plus sketchy, well-meaning advice. No bombs here. No missiles. No geopolitics. No drones.

Because all we should really worry about is what we can change. So turn off CNN and especially BNN. Let the healing begin.

Hey, Enzo. Welcome.

“Continued gratitude for your sage financial and canine advice over the decades. I recently was bestowed a modest inheritance ($100,000.00) and am asking your advice as to how to best deploy it in these markets. Should I wait until things are less scary? My RRSP and TFSA are maxed.”

It’s a common question. When to invest? Just jump in, even when markets are high? Or is it smart to wait for a dip? Or hopefully a crash?

First, nobody – you, me or the guy spending too long in the clinic washroom – has a clue where any top or bottom is. Only in hindsight can we know if one moment in time represented immediately opportunity or lurking danger. So stop trying. The best time to invest is when you have the money.

Second, human nature is not our friend. When assets jump in value we get greedy and want some. When they tank we’re afraid and run. Look at real estate now as a prime example. Prices have careened lower by almost a third, yet buyers are sitting on their hands. It’s a sure thing that if values stabilize and rise 20%, offers will start flying.

So, again. If you have money, invest it. The longer you stay invested the less relevant becomes the entry point. Markets pace economic advance, technological achievements and social progress. It looks like we’re on the doorstep of a massive jump in productivity which will flood corporate bottom lines even as it causes widespread labour disruption. The wealth divide seems destined to yawn wider, despite regional wars, quixotic leaders or Melania Trump chairing the UN security council. (Seriously. She is.)

Invest, Enzo. This week is good. Should be a corker.

Now, let’s devote a few minutes to Annie. She’s shouldering a parental problem.

My parents are in their mid sixties and are semi-retired. My dad is retired from working for the government and is getting a defined benefit pension. He is now working at a golf course in the summer and skiing in the winter. My mom is managing a gift shop.

They don’t understand much about money, RRSPs, TFSAs, tax advantages, or financial planning for their retirement. They don’t have much. My dad is stressed about money all the time and my mom seems to think they’ll be fine, but the fact is I don’t think they know enough for anyone to know for sure.

Who can I pay to get this sorted out? I think when they try to plan, they go to TNL@TB and I don’t trust them at all. I live 4 hours away, also in BC, and can’t help. Ultimately their financial success in retirement is going to affect me down the line, so I want to make sure they’re taken care of, and I’m nervous to even google for a recommendation.

Your parents have a lot of runway ahead of them, Annie. Maybe a quarter century in retirement, but it sounds like they have little in the way of savings while relying on that one DB pension to get them through. Too bad. Could be a recipe for failure.

The first question is about net worth. What do they own? Is there real estate involved? Probably. If so, that single asset could be the key to less stress, more income and a happier life. Selling a typical LM house will garner then at least a million after costs. Invest that in a balanced and diversified ETF-based portfolio and even if they pay an advisor a 1% annual fee that should yield five grand a month in income, while essentially maintaining the principal. The income would also be tax-efficient, flowing mainly from capital gains and dividends.

Best to load up both TFSAs (they have combined room of $218,000 if no contributions have bene made), which will make the income stream even less taxed without affecting OAS payments. Get the bulk of money into a joint non-reg account, not only for efficiency but also because in the event of one person passing the assets and cash are immediately and fully the property of their other person. No probate. No waiting. No bank delay. No tedious paperwork.

Go to TNL@TB for help?

Fuhgeddaboudit. The last thing your folks need is to be directed into a low-yield, high-tax, brain-dead bank GIC or (shudder) a fraudulent HISA. And the bank ‘advisor’ – a glorified mutual funds flogger – is no better an option. Low rates and high fees are exactly why our banks together made $19 billion in profit in the last three-month period. Don’t give the banks money. Buy the banks, and best through an equity ETF. Go talk to a fee-based advisor. Send me an email and I’ll dig up some names.

Yeah, selling the house is traumatic. But so is stressing about money every day. They’re better off to dump the real estate, get a dependable, expanded income stream, rent a lovely condo and, of course, maybe leave you a million.

Not that you care.

About the picture: “Long time reader, first time emailer, never commenter here,” writes Dimi. “Thank you for your great blog and sane advice. Attached are pictures of Kalina, who left us in 2025 after 16 years as a trusted companion. She was always up for a nap, a belly rub or a piece of lettuce, which was her favourite treat. Keep on spreading the wisdom and even-keel approach for as long as you want/can. Stayin’ diversified since finding your blog.”

To be in touch or send a picture of your beast, email to ‘garth@garth.ca’.

Source: https://www.greaterfool.ca/2026/03/02/dr-garth-60/