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How Three Friends Turned a Student Rental House to Billions in Assets May 14th
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In 1991, brothers Jason and Martin Castellan made their first real estate acquisition: a student rental house in Guelph, Ont. Their first investor? Their dad. They were joined in their business venture by their friend R. Jason Ashdown a short time later and continued to grow their.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Jun 9th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Stock news for investors: Q4 results from Manulife, Sun Life, Air Canada, and more Feb 13th
Here’s a round-up of news for Canadian investors this week.
Manulife
Sun Life
Cineplex
Air Canada
Brookfield Corp.
Fortis
Featured RRSP Accounts
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EQ Bank
Build.... More »
What to make of this quarter’s “earnings season” Apr 20th
People often pay attention to what JPMorgan Chase CEO Jamie Dimon has to say about his business, but a lot more eyeballs than usual were on the company last Tuesday when it reported its first quarter earnings. Along with Johnson & Johnson, Wells Fargo and a handful of others, the bank is usually.... More »
The best TFSAs in Canada for 2021 + MORE Jan 27th
A tax-free savings account, known better as a TFSA, is a savings vehicle available to Canadians aged 18 and up who have a valid social insurance number (SIN). It was launched by the federal government in 2009 as a way to encourage Canadians to save and invest.
As the name suggests, TFSAs offer a tax.... More »
“Is it better to pay down our mortgage or ramp up contributions to our teen’s RESP?”
– moneysense.ca
Q. My husband and I, both in our early 40s, bought a house in Toronto four years years ago. Since then, our variable rate mortgage has gone up four times and is now at 3.2%.
We have managed to pay down $150,000 of our mortgage in those four years with the extra bi-weekly payments and have $260,000 remaining. My husband would like to stop the extra payments and instead use that money to put towards a Registered Education Savings Plan (RESP) as his son heads to university in four years. I think the money is better spent on paying down the mortgage, which, at our current rate, would be fully paid off in six years, freeing up a lot of cash flow to assist with university costs; I’m also thinking we could take out a Home Equity Line of Credit (HELOC) at that time, if necessary. As interest rates keep rising I think getting the mortgage paid off as quickly as possible is the best choice. What are your thoughts?
–Caitlin
A. Caitlin, you and your husband have been diligently paying down your mortgage with amazing speed…
We have managed to pay down $150,000 of our mortgage in those four years with the extra bi-weekly payments and have $260,000 remaining. My husband would like to stop the extra payments and instead use that money to put towards a Registered Education Savings Plan (RESP) as his son heads to university in four years. I think the money is better spent on paying down the mortgage, which, at our current rate, would be fully paid off in six years, freeing up a lot of cash flow to assist with university costs; I’m also thinking we could take out a Home Equity Line of Credit (HELOC) at that time, if necessary. As interest rates keep rising I think getting the mortgage paid off as quickly as possible is the best choice. What are your thoughts?
–Caitlin
A. Caitlin, you and your husband have been diligently paying down your mortgage with amazing speed…
