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Near retirement with no defined benefit pension? Here’s what you need to know Oct 21st
If you’re a typical reader of this column, I’m guessing retirement is on the near-term horizon for you, or already arrived in the form of “semi-retirement.” And if you’ve diligently saved in registered and taxable plans all these decades but lack an employer-sponsored defined benefit (DB) .... More »
The best travel credit cards in Canada for 2024 Oct 29th
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Kim Kardashian’s Work Advice for Women Is Out of Touch and Insulting Mar 12th
When Kim Kardashian recently told Variety that her advice to women on how to succeed was, “get your fucking ass up and work,” it was an affront to everyday, hard-working people—particularly the ones that make up her massive audience. Despite the Kardashians’ insistence that their ballooning .... More »
For Canadians living abroad, is it worth investing in foreign ETFs? Mar 28th
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I’m a Canadian citizen who moved from Europe 2 years ago. I have some savings in EUR and I’m considering investing in VWCE (around 50,000 EUR).
I’m assuming this will complicate my tax returns in Canada. Are the extra complications worth it? What would you recommend in this c.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Aug 5th
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Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Q. I would like to know whether it is better, financially speaking, to own my first house as an income property, or as my primary residence in Ontario. I am single, living with my parents, earn a steady income and have $80,000 in savings. I’ve already purchased a new-construction freehold townhouse for $320,000 (paid $30,000 in deposit), which will close in August 2020. While I had been planning to rent out this property, I’m wondering if it is better to treat it as my primary residence initially, to take advantage of all the benefits available to first-time home buyers (including the ability to borrow from my RRSP), then change to a rental later.
–Larry
A. I see where you are going with this, Larry. You’re wondering if you can take advantage of the Home Buyers’ Plan now—and, if you don’t, will the fact that your first home purchase is an income property prevent you from participating in any first-time home buyer programs when you do purchase your first primary residence in the future…
–Larry
A. I see where you are going with this, Larry. You’re wondering if you can take advantage of the Home Buyers’ Plan now—and, if you don’t, will the fact that your first home purchase is an income property prevent you from participating in any first-time home buyer programs when you do purchase your first primary residence in the future…
