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If I Had $55 Million

Who remembers the hit song “If I Had A Million Dollars” by the Barenaked Ladies? When that song was released back in 1988, a million bucks was a lot of dough. One line says “If I had a million dollars, I’d buy you a house.”

Yep, not these days. You’d be lucky to get a 5th wheel for that now.

I seriously think the only way my children will ever be able to buy a house is if I win the lottery. Or if I die soon so they can have MY house. I do play the B.C. Lottery every now and then just for fun, but my pension will only stretch so far.

A lot of us dream of winning the lottery, like local Scott Gurney did recently. We think about what we’d buy, where we’d travel, who else we’d share it with. But I think reality might not quite live up to the dream. (Although I wouldn’t be adverse to testing that theory…just to be sure.)

I did win $90 once. And my husband won $900. But when you add up what we must have spent on tickets up to that point…well, I think the lottery corporation came out ahead.

I knew someone many years ago who won the lottery at the tender age of 19. $100,000 was a lot of money back then and he was pretty excited. Needless to say, he learned a lot from that experience.

All kinds of new “friends” came out of the word work. He was buying everyone dinner and drinks all the time, blowing all kinds of money on whatever came to mind. And he eventually ended up bankrupt.

Nineteen is too young an age to really understand what money is or does. It’s one thing to grow up financially privileged, another to suddenly become the richest kid on the block.

But age doesn’t even matter.

The fact is that a LOT of people who win the lottery end up in dire straits. In the U.S., for instance, one third of people who win lotteries end up bankrupt after 3 to 5 years. And many lottery winners struggle with depression and suicide, or end up divorced.

We just don’t know how to deal with a big stack of cash.

I’m convinced that coming into a lot of money all of a sudden does something to the brain. Not just yours, but everyone else you know too. Some of the people around you become needy or greedy. You have to learn to say “no”, and that’s not easy.

Not only that, but when you win the lottery, your face gets splashed all over the place, complete with the giant cheque and the confetti. Everyone finds out who you are, so there’s no way you can just take your winnings and quietly slip away somewhere.

So, out come the scammers. There have already been a number of fake Facebook accounts set up pretending to be Scott Gurney, trying to swindle people out of their money one way or another. It’s disgusting.

I do wish him well and hope that, for the most part, he’s able to enjoy his winnings.

I’ve decided that I don’t really need to win the lottery. It seems like a lot more trouble than it’s worth, and I’m doing just fine, thank you very much.

What’s money anyway? There are some things you really can’t put a price on, like family, good health, great friends. A sunny day. What more could a person possibly need?

I’m already a winner!

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Empty Nesters

We recently helped our eldest daughter and her boyfriend move out of our house and into an apartment of their own. This officially makes us “empty nesters”. The fledglings have flown. Yay!

It reminded me of seeing my first Robin’s nest in a birch tree outside our dining room window when I was a little girl. It was exciting to watch the adult birds build the nest and then fill it with those tiny, blue eggs. We had to be careful not to startle them so the eggs wouldn’t be abandoned. And then one day, lo and behold, one by one, the eggs cracked open.

My mother said that eventually the mother bird would kick the babies out of the nest and make them fly. I thought this was a horrid thing. What kind of mother kicks her kids out of the nest?

A number of years and a whole lot of experience later, I understand completely. It’s not that either of my daughters were difficult to live with. But there comes a time when they need to take flight and find a life for themselves.

The thing is, these days many of our children remain in the nest for a lot longer. I was 18 when I moved out, and I more or less expected the same from my offspring. But now kids often stay home until their late 20’s, or into their 30’s and beyond.

For some, it takes awhile for them to get on their feet. And many of them live at home while they are going to college or university if the schools are nearby. But the reality is that it’s not easy for any of them to afford a place to live right now, especially if they have lower paying jobs.

And never mind actually BUYING a home for the first time.

My husband and I were lucky to be able to purchase our first house on Cook Street in 1983 for $66,000. These days you might get an SUV for that money. A used one, anyway.

In 1988 we sold the first house and bought a bigger one for our expanding family. That one cost $112,000. You can’t even get a “no bedroom” condo for that right now.

Sure, we went through periods of poverty, like most first time home owners do. There were some months that we just barely got by, struggling with the upkeep and repairs. But it was our home sweet home, and as long as we could pay the mortgage, we could always eat KD.

It’s not a surprise that housing prices increase over time. That is pretty much expected. But there has been a growing disparity between the cost of living and today’s average wages, especially more recently.

High demand and low interest rates are among the many reasons real estate has become pretty much out of reach for many younger people. Not only that, but house flipping and the popular trend of listing properties on places like VRBO have changed housing dynamics considerably. The B.C. Speculation and Vacancy Tax shows how concerned government officials are about the lack of affordable housing.

It took awhile for my daughter and her boyfriend to find something, but in the end they got themselves a two bedroom apartment in Langford through the Capital Region’s Housing Corporation. Their place is a newer unit subsidized by the CRD, whose mission is “a commitment to the development, management and promotion of affordable housing that is essential for the well-being of the people and communities in the Capital Region.”

I think it’s a wonderful thing. No foreseeable renovictions, no fear of outrageous rent increases. Well maintained and operated.

There are certain rules and criteria that have to be met, such as a minimum and maximum income. But they can have pets and it’s also a family friendly building.

And one day they’ll have their own little fledglings.

Not that I’m trying to rush them or anything…