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Latest News
Rise in bond yields could send fixed mortgage rates higher, experts say Jan 21st
A sudden rise in bond yields this week could cause some lenders to reverse recent fixed mortgage rate cuts, experts say..... More »
Changes to Canada’s CMB program could have unintended consequences, experts say + MORE May 31st
As the federal government considers streamlining its process for funding mortgages, some worry that changes to the Canadian Mortgage Bond (CMB) program could have unintended consequences..... More »
Good debt and Bad debt…. do we Canadians recognize the difference? Oct 25th
I saw this article from earlier this year about Good debt and Bad debt. Canadian Personal debt levels have now surpassed $2.21 trillion. That’s a big number, should we be concerned? I started to wonder how much of this is Bad debt? Let’s take a closer look at these stats.
First.... More »
Over half of mortgage borrowers concerned about renewals Nov 1st
A new survey has found that 53% of Canadian mortgage borrowers are concerned about the prospect of higher monthly payments at renewal time..... More »
Why Canadian investors should avoid MLPs Jan 20th
For better or worse, a sizable group of Canadian investors still screens prospective investments by dividend yield. When that search expands beyond Canadian stocks, it often leads into parts of the U.S. market that look attractive on the surface but are poorly understood.
Common examples include .... More »
How seniors can use TFSAs to have more in retirement
– moneysense.ca
Because the biggest single expense in retirement is usually tax, high-income seniors should strive to use Tax-free Savings Accounts (TFSA) to minimize the tax bite in their later years.
The key is to maximize both contributions and growth no matter how old you are, which means holding proper growth investments (equities) instead of fixed-income instruments that pay a pittance.
“The TFSA is a mis-named vehicle,” says T.E. Wealth’s senior vice president Warren Baldwin, who prefers the term “Tax-free Portfolio Account” or TFPA. Still, it’s fortunate that despite the misnomer, the TFSA can act as a TFPA.
Because the TFSA was introduced only in 2009, most seniors have ten times as much money in RRSPs and RRIFs than TFSAs, says Sandy Aitken, CEO of M-Link Mortgage Corp, developer of TFSA Maximizer. Over 15 years, his product aims to reverse that ratio.
The main issue is when RRSPs convert to RRIFs after age 71 (if not annuitized) and the legislated annual minimum withdrawals that require them to pay income tax at high marginal tax rates…
The key is to maximize both contributions and growth no matter how old you are, which means holding proper growth investments (equities) instead of fixed-income instruments that pay a pittance.
“The TFSA is a mis-named vehicle,” says T.E. Wealth’s senior vice president Warren Baldwin, who prefers the term “Tax-free Portfolio Account” or TFPA. Still, it’s fortunate that despite the misnomer, the TFSA can act as a TFPA.
Because the TFSA was introduced only in 2009, most seniors have ten times as much money in RRSPs and RRIFs than TFSAs, says Sandy Aitken, CEO of M-Link Mortgage Corp, developer of TFSA Maximizer. Over 15 years, his product aims to reverse that ratio.
The main issue is when RRSPs convert to RRIFs after age 71 (if not annuitized) and the legislated annual minimum withdrawals that require them to pay income tax at high marginal tax rates…
2017 – A Year in Review
– canadianmortgagetrends.com
As we count down the final days of 2017, we look back on a year that presented fresh challenges for the mortgage industry with the announcement of yet more mortgage rule changes. While OSFI’s B-20 changes dominated headlines during the later part of the year, here are some of the other top mortgage newsmakers for […]
Make your money grow faster by investing at the top of the year
– moneysense.ca
When it comes to saving through registered savings plans, most of us make two very costly mistakes: we tend to contribute too little and too late in the year to get the full benefit of tax-free compounding. It is costing you money —and we’ll prove it.
Sometimes the reason we contribute at the last possible moment is that we have other, more pressing financial priorities like paying down the mortgage or investing in a family business. But more often than not, it’s because we’re doing other spending stuff, like leasing a new car, doing a new home reno, or taking that annual vacation with family.
Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs) are two of the most common lost opportunities. In a real sense, the first sin (investing too little) is more easily forgiven; if you don’t have the money to max out on your contribution room, there might not be anything you can do about it. But the second sin (investing at the last minute) is worse; if you can find the money, you should really find a way to put the deposit at the top of your to-do list for the year…
