How retired parents can use the FHSA to help their adult children Mar 23rd

TSX getting you down? There are always sound investment alternatives.

Latest News

2023 tax credits, due dates and when you can file: Your 2023 income tax return guide Apr 9th

You’ll want to bookmark the MoneySense guide for 2023 personal income taxes. We will be updating it frequently, as information becomes available and deadlines approach. Plus, we get answers from the experts you won’t find anywhere else, thanks to our Ask MoneySense and Ask A Planner columns.&nbs.... More »

Making sense of the markets this week: September 10, 2023 + MORE Sep 8th

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors. Borrowers relieved as interest rates stays at 5% The Bank of Canada (BoC) announced on Wednesday that it would hold interest rates .... More »

The best 5-year fixed mortgage rates in Canada + MORE Jul 12th

Mortgages The best 5-year fixed mortgage rates in Canada You’re 2 minutes away from getting the best mortgage rates in Canada. Just answer a few quick questions to get a personalized rate quote. I’m buying a home* .... More »

All TTC subway riders getting cellphone service starting Oct. 3, federal minister says - CBC.ca + MORE Sep 11th

All TTC subway riders getting cellphone service starting Oct. 3, federal minister says CBC.caToronto's Financial Workers Will Finally Be Able to Work on the Subway Financial PostRogers must give BCE, Telus access to wireless network on Toronto's subway system by Oct. 3, ministe.... More »

Friday's analyst upgrades and downgrades - The Globe and Mail Mar 22nd

Friday's analyst upgrades and downgrades The Globe and MailAlimentation Couche-Tard reports lower earnings amid economic headwinds Yahoo Canada FinanceCircle K Owner (ATD CN) Sees Sales, Profit Drop as Consumers Pull Back Spending BloombergCouche-Tard shares plunge a.... More »

How retired parents can use the FHSA to help their adult children

– moneysense.ca

If you’re a retiree or close to retiring, you probably have a paid-off principal residence, or should be close to having one.

However, many retirees—including me—have grown children struggling to get onto the first rung of the real estate ladder. Coming up with a down payment is still difficult. Home prices have fallen since interest rates started to rise in 2022, but mortgage affordability is still an issue for many young Canadians just starting out in their careers.

You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.

All of which makes the new first home savings account (FHSA) timely: Scheduled to debut on April 1, 2023, the FHSA is a much-talked about financial product right now. See some excellent blogger commentary on the topic, notably this one from Dale Roberts’ cutthecrapinvesting…

Continue Reading On moneysense.ca »

Why not follow our RSS feed to keep in sync with the latest Canadian Investment news?

Share