And while they have accumulated assets, they are cash-poor.
Because they have rental income from their assets, they get peanuts from the government pension.
And while their rental income seemed promising, the phantom costs of holding their principal home and other properties are shocking.
Property tax alone costs over 5 figures per year.
Not to mention the management fees every month for their condos, repair and maintenance, rental price increase restrictions, the climbing interest rates, and high-income tax in Canada.