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Berkshire profit climbs 9.8 per cent on insurance, railroad + MORE May 3rd
Net income rose to $5.16-billion (U.S.), or $3,143 per share
.... More »
The best credit cards in Canada for 2024 May 27th
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The best credit cards in Canada for 2024
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What Happens When the CERB Ends? Jun 24th
The Canada Emergency Response Benefit (CERB) is designed to help Canadians cope with the loss of employment as a result of the COVID-19 pandemic. The benefit was about to expire in July for some of the earliest applicants, but it was recently extended by an additional eight weeks.
Despite the exten.... More »
A comfortable retirement is closer than you think + MORE Sep 4th
If you live like a typical Canadian then you might not have to save as much as you think for retirement.
Before determining how much Canadians need to save, it’s important to get a handle on how much they spend. A visit to Statistics Canada reveals that the average Canadian household spent $79.... More »
What is landlord insurance? + MORE Sep 24th
Landlord insurance, true to its name, is a type of policy for people who rent out a room, an apartment or a house to tenants. Also known as rental property insurance, it has some key differences from home insurance—the biggest one being coverage for loss of rental income, in the event that your pr.... More »
Condo overbuilding in Canada
– moneysense.ca
(Getty Images / Michael Blann)I’m not at all surprised that our government-backed housing agency—the Canada Mortgage and Housing Corporation—is warning condo builders to sell more of their current inventory before building more condos.
But I don’t think it’s a signal we’re overbuilding. I think it’s a signal that the government doesn’t want another close call.
From the late 1990s to 2008, the government loosened housing and mortgage policies. For instance, the government lowered down payment requirements so that home buyers could avoid default insurance (otherwise known as mortgage insurance); the government also introduced 35-year and 40-year amortizations and introduced government backed 100% financing—even for rental properties; and income documentation to obtain a mortgage was far more lenient than it is today. Then the U.S. housing market took a dive and the 2009 world wide credit crunch made everyone take a step back—including our government.
As such, policies were introduced to tighten up the lax regulations that were previously introduced by the government…
What is an Annuity?
– ratesupermarket.ca
The shift by employers from traditional defined-benefit pension plans, which typically guarantee income for life, to ‘over-to-you’ defined-contribution arrangements, has put more responsibility on employees for making their savings last through an unknown number of retirement years.
Lacking the knowledge or ability to choose from the investment strategies available to them, many such retirees would be better off converting a significant portion of their retirement savings into an annuity, according to a recent report entitled Retirement Income: Ensuring Income throughout Retirement Requires Difficult Choices.
Life Insurance In Reverse
Annuities are often described as life insurance in reverse. You buy an annuity policy with a lump-sum payment and in return the life insurance company pays you a guaranteed amount for a certain period of time, or for the rest of your life, depending on the option you choose.
The amount you get depends primarily on your age and the current level of interest rates…
Terrorizing Taxpayers
– online.wsj.com
Both parties want to backstop insurance for big developers.
