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Can life insurance be used as a fixed income investment? Dec 21st
Q. I am 55 years old, recently finished a four-year battle with cancer, and will be retiring soon. I have a healthy portfolio, consisting of 60% in blue-chip stocks and 40% in fixed income, which will look after my husband’s and my financial needs in the future. I also hold a $2-million life ins.... More »
Holiday deals can’t beat the savings you’ll get on car insurance Dec 17th
You have the perfect Christmas gift in mind for your co-worker, friend or loved one. Imagine stopping at the closest drug store and walking out with that perfect gift, only to find out later that it’s $50 cheaper at another store.
With Christmas in a little over a week, deals are now everywhere. .... More »
This 29-year-old has been laid off twice as a server and is starting from scratch, spending all his savings to study UX design. Living at home, he wants financial help + MORE Mar 16th
Peter, 29, a server working in Halton Region, was laid off for the second time in December, during COVID-19’s second wave. Currently, he’s receiving $1,800 a month (before tax) through Employment Insurance..... More »
Federal Equity-Split Program Begins Monday Sep 1st
The First-Time Home Buyer Incentive (FTHBI) will officially begin on Monday, September 2. The program was initially announced during the Federal Government’s budget launch in March. The down payment assistance program will be administered by the Canada Mortgage and Housing Corporation (CMHC), and.... More »
What is term life insurance and how, exactly, does it work? May 27th
When it comes to conversation-starters, life insurance generally doesn’t rank in the top 10 topics. We get it—who wants to think about the end of their own life? But it’s important to know the ins and outs of life insurance coverage so you leave your loved ones financially secure in the event .... More »
Is it better to buy or rent a cottage?
– moneysense.ca
The desire to own a cottage where you can look forward to making memories on the same lake every summer is an obvious one for many Canadians.
However, Ted Rechtshaffen, president and chief executive of TriDelta Financial, says the financial argument for owning a cottage instead of renting one is harder to make.
“From a financial perspective, I think it’s quite often not a good idea to buy a second property that you’re not going to be renting out or living in,” Rechtshaffen says.
“It is an incredibly expensive thing and you’ve got to hope that real estate in the cottage country wherever you’re buying is going up a lot or at least a pretty steady amount to make up for the huge expenses.”
The costs of owning a cottage are a lot like owning a house in the city. You have property taxes, maintenance costs and utility bills as well as a mortgage if you have to borrow to buy it.
Now is a great time to buy a cottage »
There will also be the cost of insurance and any upgrades you will want to make…
However, Ted Rechtshaffen, president and chief executive of TriDelta Financial, says the financial argument for owning a cottage instead of renting one is harder to make.
“From a financial perspective, I think it’s quite often not a good idea to buy a second property that you’re not going to be renting out or living in,” Rechtshaffen says.
“It is an incredibly expensive thing and you’ve got to hope that real estate in the cottage country wherever you’re buying is going up a lot or at least a pretty steady amount to make up for the huge expenses.”
The costs of owning a cottage are a lot like owning a house in the city. You have property taxes, maintenance costs and utility bills as well as a mortgage if you have to borrow to buy it.
Now is a great time to buy a cottage »
There will also be the cost of insurance and any upgrades you will want to make…
Should you get pet insurance?
– canadianliving.com
Learn whether getting pet insurance is for you or whether you should open up a doggy or kitty savings account.
