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Miscellaneous

 
 
Repeat from last week or until no longer relevant or until I delete it or it bears repeating:  

The proposed  evening social schedule for the next three months is:

  • Thursday, October 29 – Halloween-themed social at the funeral home venue.
  • Thursday, December 17 – The Cannery, where we'll return for our annual Christmas gathering. This one will be a 7:00 a.m. breakfast meeting, featuring a breakfast buffet rather than individual meal orders. The usual Christmas gift exchange or other festive activity will also be part of the morning.

 

OUR THURSDAY BREAKFAST MEETING IS ACCESSED THROUGH THE LINK BELOW.
 
 
Rotary Club of Richmond Sunrise is inviting you to a scheduled Zoom meeting.
 
 
1) Mute your microphone if you aren't already muted. Background noise is distracting. 
2) If you are not engaged in the presentation, turn off your camera. 
3) Chat function should only be used to address the speaker, not for Club member remarks during the presentation
4) Unmute when harassing the Sergeant at Arms or taking your turn during Sergeant at Arms.
5)Who won the election? 
 
Please direct any questions or concerns to the President or a board member of your choosing and the board will discuss any and all questions or concerns during a board meeting. Also please refer to the members committee anyone who may be interested in attending a meeting or joining the club. 
 
 
INSPIRATIONAL QUOTE
 
 

Life is amazing. And then it's awful. And then it's amazing again. And in between the amazing and awful, it's ordinary and mundanee and routine. Breathe in the amazing, hold on through the awful, and relax and exhale during the ordinary. That's just living heartbreaking, soul healing amazing awful ordinary life, And it's breathtakingly beautiful. via Judy.

 

 
 
   VISITORS     
 
 
Three Stooges Supporting Actors 60 Photos - Moonagedaydream.film

Bill's guest at the naughty table. Yes everyone tried to ignore them. 

 

 

 

ANNOUNCEMENTS AND 

CLUB BUSINESS

 

Thanks to Peggy and sister Tracy for breakfast this morning.

Gentle reminder to pay your member fees. No names mentioned but you know who. 

Thanks Marg and Don for hosting the board meeting.  

No morning meeting next week. . It’ll be the last Thursday of the month so it’ll be our fourth so will be having it’ll be at Thursday, October 29 in the evening at Richmond funeral home which is County Road at 6 PM. This month thing is a monster mash for the theme food. We’re gonna have an Asian cuisine so we’ll be having a really nice authentic Chinese Chinese food. We have 50-50 drum games you can dress up in a certain decade if you like you can dress up in a costume if you like, but please you don’t dress up makes it that much more fun for everybody else else so whatever you have planned or whatever you have in your closet, bring it out and there’ll be no caskets open member please try to make it and also try to bring your spouses also as I said when I initiated the social it’s all about our family and so if the spouses or partners could come, that would be excellent and also at 6 o’clock at 6 o’clock and the bell ring at 6:50 so it gives us about 15 minutes of traffic and then 15 minute and then we get it right into our social so that’s for that that’s on my end. 

 

 
Speaker
 

Turning Bad Debt into Good Debt

Our own Chris Pughe, a mortgage broker, recently gave us an eye-opening look at a strategy that can potentially turn what we normally think of as “bad debt” into “good debt” — the Smith Manoeuvre.

Chris explained that in Canada, interest on a personal mortgage is generally not tax deductible, whereas interest on money borrowed to make investments that are expected to generate income may be tax deductible. The Smith Manoeuvre takes advantage of this distinction by gradually converting non-deductible mortgage debt into investment debt.

The concept sounds complicated, but Chris made it surprisingly simple. Each time you make a regular mortgage payment, part of the payment reduces your principal. With the right type of re-advanceable mortgage, that amount becomes available again through a line of credit. Instead of spending the newly available credit, the strategy uses it to make an income-producing, non-registered investment. The interest on that investment borrowing may then qualify as a tax deduction.

Over time, the process can gradually reduce the personal mortgage while building an investment portfolio. Potential tax refunds can also be directed toward paying down the mortgage, accelerating the process.

Chris illustrated the strategy with a hypothetical $400,000 mortgage. Under the assumptions he used, simply applying the strategy over the life of the mortgage could potentially result in more than $1 million in investments, significant tax savings, and the eventual conversion of the mortgage into tax-deductible investment debt. He stressed, however, that the actual results depend entirely on an individual's circumstances, investment returns, tax rate and mortgage structure.

Chris also described several variations or “accelerators,” including a debt swap for people who already have non-registered investments and strategies involving rental income or business income. For example, rental income can potentially be used to pay down a personal mortgage, while borrowing the equivalent amount to cover eligible rental expenses.

There are, naturally, some important cautions. This is a long-term leveraged investment strategy, and investments can decline in value while the borrowed money still has to be repaid. The mortgage must be structured appropriately, the borrowed funds must actually be used for qualifying investment purposes, and careful records must be maintained in case the Canada Revenue Agency ever wants to see where the money went. Chris emphasized that the strategy is not for everyone and should be considered with the help of appropriate mortgage, investment and tax professionals.

Chris also shared a very personal reason for being so enthusiastic about the strategy. He has known about the Smith Manoeuvre since he was 20 years old, but admits that he never implemented it in his own financial life. Looking back, he believes that if he had put the strategy to work decades ago, his financial position today could have been dramatically different.

His message to the club was therefore less “everyone should do this” and more “understand what is possible.” It may be particularly worth exploring for people who have substantial home equity, rental properties or investment assets — and perhaps for younger family members who have decades ahead of them to build wealth.

Chris summed it up with an important distinction: borrowing to buy something you consume creates debt; borrowing to acquire an income-producing investment may create potentially tax-deductible debt. The goal of the Smith Manoeuvre is to gradually move from the former to the latter.

And judging by Chris’s enthusiasm, this may be one mortgage strategy that actually has him excited about debt!

 

 
SERGEANT At Arms Tidbits

 

It was another lively round of Sergeant-at-Arms, with members reporting on everything from international travel and family milestones to concerts, hockey, theatre, banking frustrations and the ongoing mystery of why everyone in the club suddenly seems to have something to say about Bruno Mars!

Debbie S. returned from an amazing trip to Africa and was now heading off to see her dad. Clearly, one continent at a time is not enough.

Dalbir also had Africa on his travels and confirmed that it was definitely worth the trip. Back home, he was busy taking his grandson to school while Kal was visiting her mother in the hospital. Dalbir is attending a three-day trial concerning custody of his grandson. A busy schedule by any standard.

Chris M. was having one of those weeks where dealing with three different banks somehow created more questions than answers. On the brighter side, there was a clothing sale, lunch at Coast Capital, a visit to Hycroft, and time for mahjong, bridge and golf. Banking may be complicated, but at least the recreation schedule is solid!

Garth admitted that having only one bank apparently puts him at a significant disadvantage in the banking-comparison department. He did, however, discover a theatre in Olympic Village and enjoyed the play Big Stuff.

Elena reflected that she wished she had learned years ago how to turn “bad debt” into “good debt.” Her sister is visiting from the Philippines, and Elena was also celebrating the success of the homemade gifts she received. Her sister loves reading and has already taken books back to the Philippines, so Elena issued a plea: if you have books you no longer need, don’t throw them away—give them to Marg! Apparently, there is a very appreciative reader waiting for them.

Peachy was one of several members caught up in the Bruno Mars phenomenon. She and her son attended his concert and had a wonderful time, although their short stature made it difficult to see once everyone stood up to dance and sing. She also attended the Columbus Residents Ghana Gala and declared our gala “the best.” 

Jeanette provided a detailed update on her mother, who has been dealing with a lengthy medical surveillance and testing process before travelling. What began as a routine requirement turned into sputum tests, chest examinations and eventually bloodwork before her mother could be cleared. Jeanette also reported encouraging news about Gordon, whose mobility is slowly improving. He is medically stable and is expected to move into further rehabilitation. He sends his regards to the club and knows that members have been visiting him.

Melinda started by thanking Peggy and Tracy for the delicious quiche, but the real news was much more important. John has been dealing with serious heart problems and underwent a TAVI procedure at St. Paul’s Hospital. Happily, he came home the day before the meeting and is now beginning his recovery. Their holidays had understandably been cancelled while they waited for treatment. Melinda was also busy with visitors and had attended the Ghirra fundraiser, where she praised the them for doing such an amazing job.

Sandra thanked Peggy for breakfast and Chris for helping all three of her children become homeowners. She said they couldn’t be happier with the help they received. Otherwise, she has been enjoying time with her grandchildren—which sounds like a pretty good week to us!

Amanda had her physiotherapy appointment moved to Wednesdays and had the dubious pleasure of undergoing needling treatment. She could certainly sympathize with Larry’s sciatica! The good news is that Graham will be returning to work in early November, meaning he will finally escape the house after two months. Amanda also reminded everyone to vote.

Chris P. returned after missing a few weeks and explained that being self-employed means having “lots of tabs open”—both literally and figuratively. She is serving as a judge for the Richmond Chamber’s business awards and has helped select the top three finalists. The next step is visiting each business, touring their operations and conducting interviews. She signed an NDA, so unfortunately the club will have to wait for the results!

Peggy had an especially busy week involving theatre, birthdays, quilting, public transit, Uber and even a connection to Garth. She enjoyed an intimate improv show at Olympic Village, attended five year old's birthday party, and discovered that the birthday boy’s family has a connection to Garth dating back to their university days. She also squeezed in a quilting retreat with Tracy, where they selected a quilt that Peggy hopes to donate to the gala—assuming she can get it finished in time. After all that, she was finally looking forward to driving again!

Eleanore did not attend Bruno Mars or Owen Riegley, but she did have her own musical adventure. Her sister and brother-in-law visited for 45 days, and she attended a performance by the East Pointers from Prince Edward Island at the Hollywood Theatre. Even though she considers herself an introvert, she spent the entire three-hour show standing, stomping and enjoying the music. She also bought tickets to Big Stuff after reading about the play—and revealed that her husband’s desire to sell everything and live with nothing made the subject particularly relevant!

Maddie introduced the club to a new term: the ambivert—an introvert/extrovert combination. She has been taking it relatively easy while training a new teller at work, but Ben Dixon invited her to Bruno Mars, and she accepted. She doesn’t usually attend concerts, but admitted that Bruno Mars knows how to put on a show.

Sam lost a rock-paper-scissors contest with Maddie and was therefore assigned responsibility for the meeting slides. At home, Sam and the family are now fully settled in their new house and have embraced Halloween decorating. Their theme is witches, complete with a battery-operated broom that actually walks around and makes noise. Their house is apparently the only decorated one in the neighbourhood, so passing children are stopping to stare. Sam also noted that last week’s Sergeant-at-Arms bulletin apparently suggested that he had “visited Canada,” despite the fact that he already lives here—an excellent example of what happens when ChatGPT fills in the blanks! (Ed. Note - it is an AI hallucination!! - it meant upper Canada).

Danny had just returned from Hawaii, travelling across several islands and enjoying everything from Maui and Waikiki to Honolulu and Jurassic Park. He also attended a Rotary exchange event in Kona and, naturally, managed to fit in the Bruno Mars concert. With friends from the Philippines and Hawaii joining him, Danny said it was a great concert and gave Chris credit for doing a great job.

Bill remembered the Hollywood Theatre, where he grew up nearby and remembered going there as a child—when Saturday matinees featuring the Three Stooges cost a dollar and popcorn was only 50 cents. He also had a hockey story. During a game, Bill and Sam were on the ice playing defence and both came off for a change at the same time. Bill realized nobody had replaced them—and the opposing team was now enjoying a wide-open breakaway and goal. Apparently, communication remains an important part of hockey!

Kal was looking forward to the Richmond election finally being over, describing the campaign season as something of a “shit show.” With the voting behind us, he was clearly ready for a little peace and quiet.

Debbie M. did not need to attend Bruno Mars because she has apparently been getting the concert for free from her neighbourhood! She is heading off for three weeks with her daughter and granddaughter, travelling to Paris and Spain to visit family. She is looking forward to the trip—even if the weather is cold. Back home, she has also started winter paddling and reported that the water is now cold enough to make her fingers feel as though they might snap off. Time to bring out the gloves!

Judy had a week that demonstrated just how complicated life can become when dealing with banks and estates. She spent an hour and a half trying to get Ralph’s name removed from her Costco account following his death, only to discover that she needed additional documentation, including a copy of the will. The process involved phone calls, conflicting instructions and plenty of frustration. Her Costco membership dates back to 1992, but apparently longevity counts for very little when paperwork gets involved. On the family front, her six-year-old grandson broke his wrist in two places playing hockey, while her 14-year-old grandson was diagnosed with celiac disease. And, in happier teenage news, her 17-year-old grandson apparently has an official girlfriend—although Judy jokingly noted that she probably wasn’t supposed to know that yet nor the club! But who is going to tell.

Marg had 17 people for Thanksgiving dinner, including one guest who arrived feeling under the weather. Marg herself had been recovering from a chest cold and discovered that sleeping while coughing is considerably overrated. She also enjoyed Big Stuff and agreed that the improv performers were brilliant. Next up is a vintage dance featuring Jamie Taman’s band, where Marg expects everyone to be on the dance floor from 7 to 11. Apparently, sitting down is not part of the program.

Joyce was disappointed to be missing the upcoming social and asked everyone to take plenty of Halloween costume pictures so she could live vicariously through them. She even considered wearing a costume herself—but admitted that it might end up looking more like a funeral!

Larry had taken a week off and spent some time at Birch Bay, where he had a gardener move his potted flowers into the ground to make life easier. Unfortunately, his back did not appreciate the effort and he is now dealing with significant pain. Work is extremely busy, making time off difficult. Larry also shared concerns about Steve, who is facing surgery and significant mobility challenges. At home, Larry is contemplating yet another round of redecorating, although he admitted he is not quite ready to start moving everything around again. One project at a time!

John provided the latest update on the younger generation, noting that his nine year old grandson has already had a girlfriend, broken up with her and is now considering getting back together. Apparently, romance moves quickly these days. John also praised Mike for organizing the monthly social gatherings, admitting that he had initially been cynical about them but now thinks they have worked extremely well. Unfortunately, he will miss the next one because he is attending a UBC Thunderbird football Wall of Honour event inducting a player from 50 years ago.

Marg also shared a lovely update about Pat Atkinson, saying she had a conversation with her over Thanksgiving weekend. Pat read all the cards members had sent her and was deeply touched and delighted that the club remembered her. Marg is confident that she will eventually be back with the club.

Bobby admitted that he did attend Bruno Mars! He also thanked Peggy for breakfast, Marg and Don for hosting the board meeting and Chris for his presentation. He wished brother Michael a happy birthday and noted that he will miss next week’s gathering. He is heading to Montreal with his son for some time away. He skipped Bruno Mars but apparently ended up serving as Uber driver for his family after the concert. 

Blair attended a dinner celebrating a friend’s induction into the BC Restaurant Hall of Fame. Unfortunately, work means he will miss Michael’s Halloween bash, but he is looking forward to seeing the pictures.

Michael wrapped things up by thanking the entire Rotary family for supporting the fundraiser for his brother Victor’s Toy Drive. The first-year event attracted about 125 people and featured games, prizes, a 50/50 draw and a Rotary table. Michael expressed his sincere appreciation to everyone who attended and supported his family and the Toy Drive.

He was also celebrating his birthday, although he apparently had no idea what his family had planned. He was simply told to be home around 5 p.m., with the party beginning at 6. Sometimes it’s better not to ask too many questions!

And with that, the meeting was adjourned—with a reminder that next week’s Rotary gathering will be an evening event at the Richmond Funeral Home at 6 p.m. on Thursday, rather than the usual morning meeting.

MEANDERINGS 

 

 

Yesterday was 🥳

Pythagoras Day” (also called Pythagorean Theorem Day or Pythagorean Triple Day) is celebrated on dates whose numbers form a Pythagorean triple, such as 10/24/26.


10
2
+242=262
pythagorean theorem day october 24, 2026. 102+242=262
 

 

 

UPCOMING EVENTS
 
 
Thursday, October 29 – Monster Mash themed social at the funeral home venue.
 
November 12,2026, District Governor visit and our own AGM so we can find out who the next victims are - oops I mean president elect, secretary, etc. 
 
May 7th, 2027 Gala mark it on your calendar.
 
 
 
 
 

 TODAY'S CHUCKLEs     

 

Funny Emoji Copy And Paste Template Business Emoji Faces Printable

 

 

Initially, I wasn't keen on the idea of organ donation; but then I had a change of heart.

 

The groom's told me that he's gone home to get some different socks; I think he's getting cold feet.

 

The anger management class is very popular lately; it's all the rage.

 

Birthdays & Anniversaries
Member Birthdays
Maryam Bawa
October 5
 
Danilo Salcedo
October 6
 
Micheal Ghirra
October 22
 
Spouse/Partner Birthdays
Malcolm Brodie
October 11
 
Anniversaries
Bobby Ghirra
Neeta Ghirra
October 23
 
Join Date
Dick Wagner
October 2, 1992
34 years
 
Elena Agala
October 5, 2000
26 years
 
Chris Pughe
October 7, 2003
23 years
 
Jeannette Patacsil
October 24, 2022
4 years
 
Maddie Pughe
October 24, 2016
10 years