How to go about securing the best savings strategy in Canada.
Latest News
Most Canadians can’t afford to save more for retirement + MORE Jul 14th
As Canada’s premiers prepare to meet in St. John’s this Wednesday, new data shows that most Canadians can’t afford to save more for retirement, and wouldn’t put any extra money into the CPP or QPP if they could.
According to a new public opinion poll conducted by Ipsos-Reid for the Canadian .... More »
What does the average wedding cost in Canada? + MORE Dec 26th
“But you’re getting married! You have to!” That empty statement is on the other end of everything from wedding cakes to bachelorette parties, lace veils, engagement photo shoots and selfie stations. It seems that from the very minute you are betrothed, everyone and their mother (perhaps especi.... More »
In Your Corner: Interest rates are near an all-time low — where can you get the best return on your savings? + MORE May 1st
These are the best high-interest (well, relatively high) savings accounts out there right now..... More »
How much money does the government contribute to an RESP? + MORE Feb 13th
Whether your child eventually goes off to university, enrolls in a college program or is interested in another type of schooling, there’s no way around it: post-secondary education is pricey. In Canada, the average undergraduate tuition fee for the 2022–23 school year was $6,834. Over four yea.... More »
How a young couple can kill $142,000 in debt and start investing + MORE Mar 22nd
iStock
Julie and David live in Calgary with their two daughters, ages 10 and 7. David, 40, is a cable technician earning $150,000 annually while Julie, 37, works part-time at a retail store near home earning $6,000 annually. In 2014, their lives changed when David fell on the job and injured his lef.... More »
Real Estate Success Secrets
– ratesupermarket.ca
Whether you’re scraping together savings for your first home, or contemplating your next move in the market, Canadian real estate can be a tad… overwhelming. This week, we’ve touched on some of your biggest home buying questions, from saving for a second home, down payment loopholes, and even buying property out of the country.
Read on for our full coverage, plus the week’s top headlines.
Can I Still Get a “Zero Down” Mortgage With a Credit Union?
By law, every homebuyer must make a minimum 5% down payment on their new home purchase when taking out a mortgage from a federally regulated lender (think the 5 big banks). But what about credit unions, which are regulated provincially?
The truth is, zero-down mortgages do still exist at some of these lenders. But is it ever a good idea to get one?
Read Allan’s Blog | Can I Still Get a “Zero Down” Mortgage With a Credit Union?
Why Your Starter Home May Be Your Only Home
The traditional way into the housing market is to start small, build equity, and move on up to a bigger and better home later on…
Read on for our full coverage, plus the week’s top headlines.
Can I Still Get a “Zero Down” Mortgage With a Credit Union?
By law, every homebuyer must make a minimum 5% down payment on their new home purchase when taking out a mortgage from a federally regulated lender (think the 5 big banks). But what about credit unions, which are regulated provincially?
The truth is, zero-down mortgages do still exist at some of these lenders. But is it ever a good idea to get one?
Read Allan’s Blog | Can I Still Get a “Zero Down” Mortgage With a Credit Union?
Why Your Starter Home May Be Your Only Home
The traditional way into the housing market is to start small, build equity, and move on up to a bigger and better home later on…
Is an Individual Pension Plan right for you?
– moneysense.ca
Getty ImagesA few weeks ago, we looked at the topic of raising RRSP limits. As noted then, it was based on a C.D. Howe Institute report that suggested one possible solution to the alleged retirement crisis was simply to go back to the half-century-plus RRSP and raise contribution limits for the (relatively) few affluent people who are forced to save in taxable accounts because they’ve maxed out on RRSP room.
If you’re at top executive or own your own business and are 40 years of age or older, there may be another way to get the benefits of RRSPs. The Individual Pension Plan or IPP is an employer-provided program that replaces RRSP savings by an employee, says Stephen Cheng, managing director of Vancouver-based Westcoast Actuaries Inc. To be eligible for an IPP, you need to receive pension-eligible T-4 employment income. Self-employment income, partnership income and dividend income are not pension-eligible, Cheng says. So if you own your own business, you’d have to pay yourself a regular salary that generates T-4 employment income…
INFOGRAPHIC: Canadians Top Foreign Investors in U.S. Real Estate
– ratesupermarket.ca
By The Housing Block
With real estate values skyrocketing in Canada, many homeowners find themselves with more home equity than they could have ever imagined. While a lot of Canadians are house rich, they’re struggling to earn a decent return in the low interest rate environment.
With safe investments like high-interest savings accounts, bonds and GICs barely keeping up with inflation, a lot of Canadians are considering investing in U.S. real estate. With U.S. home prices still depressed in some regions and a relatively strong Canadian dollar, investing in U.S. real estate remains an attract opportunity for Canadians – as long it’s done right.
Canadians Top Investors in U.S. Real Estate
When it comes to investing in U.S. real estate, Canadians are the top foreign investors in terms of volume. We represent 15 per cent of total international sales and 19 per cent of all transactions in the U.S., according to the National Association of Realtors (NAR). Between March 2013 and March 2014, we bought a whopping 13…
