Is semi-retirement stressful? You bet—here’s what to do about it + MORE Jul 26th

First home savings account (FHSA) highlights
The FHSA is a type of registered account that allows you to contribute up to $8,000 annually, up to a lifetime limit of $40,000, to save for the purchase of your first home.FHSAs became available on April 1, 2023. However, availability is currently limited and will vary by financial institution. Many are expected to launch their FHSA later in 2023. 

Canadians can now boost their savings for a down payment on a home with a new type of registered account. The first home savings account (FHSA), also referred to as the tax-free first home savings account, creates up to $40,000 in tax-free savings room for first-time home buyers. In this article, we’ll explain why the FHSA was created, how it works and how you can maximize its potential—even if you have no immediate plans to buy a home.

Frequently asked questions about FHSAs

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One of my semi-retirement philosophies is that reducing stress can sometimes be more important than maximizing revenue. Assuming you’re self-employed in semi-retirement, as I am, you may find yourself juggling multiple clients and conflicting demands on your limited time and energy.

The topic of stress has come up a few times with my clients lately, as summer starts to give way to fall. Given the sporadic nature of freelancing, most freelance writers and suppliers know how hard it is to turn down paying work. I was like that in my first stint as a freelancer back in the 1980s, long before I achieved a modicum of financial independence.

This time around, though, I have the luxury of being able to pick and choose what I want to work on. Of course, if you say “no” too often, you run the danger of permanently losing the work to a hungrier (and likely younger) rival supplier. So, I may take on more work in the winter, but the summer is another matter. Any Canadian who dreads the long winter knows well how precious the time between spring and early fall can be…