At 40, Peter makes $94,000. He owns two condos and wants a third closer to downtown Toronto. Is that the right move? + MORE Sep 19th

How to go about securing the best savings strategy in Canada.

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A parents’ guide to home down payment gifts and loans + MORE Aug 20th

It used to be that parents budgeted for post-secondary education or contributing to the costs of a child’s wedding. But now, I am increasingly finding parents planning for home down payment gifts. The statistics support this and show an increase in down payment help in recent years. A CIBC stud.... More »

How much credit card debt does the average Canadian have? + MORE Sep 26th

As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »

Stock news for investors: Iamgold expands, Teck advances merger talks, and Wealthsimple hits $100B milestone + MORE Oct 29th

Here’s a round-up of news for Canadian investors this week. Iamgold Teck Resources Mullen Group Wealthsimple West Fraser Timber Featured RRSP Accounts featured EQ Bank Bu.... More »

How to build a credit history while renting in Canada + MORE Oct 2nd

Being a young adult may afford you the freedom to live on your own. But for most people, that means renting a space—more than 80% of individuals aged 25 to 29 are renters. What’s more, younger Canadians who live in urban areas make up the largest group of renters, according to a study by RBC.... More »

How does a TFSA work? + MORE Dec 3rd

One of the side-effects of working for a personal finance magazine is that I’m always asked for advice. I always oblige, albeit sheepishly, without letting on that I’m still learning, too (which I freely admit here). For instance, the other day I was having lunch with some friends when we starte.... More »

At 40, Peter makes $94,000. He owns two condos and wants a third closer to downtown Toronto. Is that the right move?

– thestar.com

Being an avid investor throughout his life, Peter has long been able to take advantage of GTA’s hot housing market. Now, he wants advice on how best to invest his savings.

Continue Reading On thestar.com »

At 40, Peter makes $94,000. He owns two condos and wants a third closer to downtown Toronto. Is that the right move?

– thestar.com

Being an avid investor throughout his life, Peter has long been able to take advantage of GTA’s hot housing market. Now, he wants advice on how best to invest his savings.

Continue Reading On thestar.com »

Should you help your adult children to buy real estate?

– moneysense.ca

Arguably, it’s much harder for millennials to get their first step on the real estate ladder, compared to when my cohort bought our first homes. Housing prices were remarkably low in the 1980s compared to today; however, financing is a different story. Interest rates were as high as 20% for us, and at record lows today.

All of which explains why many of today’s millennials seek interest-free or low-interest loans from the Bank of Mum and Dad (“BOMAD” henceforth). Between 50% and 75% of millennials expect to tap the BOMAD for help coming up with a down payment.

I recently discussed the millennial home ownership bind on Patrick Francey’s The Everyday Millionaire podcast. Francey is a seasoned entrepreneur and real estate investor, and CEO of the Real Estate Investment Network (REIN). These days, most REIN members who have at least one “door” (investment property beyond a principal residence) are almost by definition millionaires. I appeared despite the fact our family owns no investment real estate, apart from REIT ETFs in a purely electronic portfolio: “clicks instead of bricks,” as I explained on the show…

Continue Reading On moneysense.ca »

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