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Making sense of the markets this week: January 16 + MORE Jan 14th
Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors
Growth vs the Fed: the battle of 2022
This year’s battle for the markets is shaping up. In one corner we have ongoing economic growth. In the other corner we have the Fed.
.... More »
The best RBC credit cards in Canada for 2024 + MORE Jul 2nd
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The best RBC credit cards in Canada for 2024
Discover the best RBC credit cards, whether you’re looking for cash back, travel points or low interest.
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Billie Eilish calls out billionaires with Mark Zuckerberg in the audience - CBC + MORE Oct 31st
Billie Eilish calls out billionaires with Mark Zuckerberg in the audience CBCBillie Eilish urged billionaires to give away their money right after it was announced she was donating millions CP24Billie Eilish calls on billionaires to give away their wealth—with Mark Zuckerberg.... More »
Federal public service asked to consider return to remote work - CBC.ca + MORE Dec 16th
Federal public service asked to consider return to remote work CBC.caCIBC, National Bank ask employees to work remotely as Omicron worries grow CTV NewsBank of Montreal Asks Investment Bankers to Work From Home BloombergHeading back to the office? Not so fast. Many o.... More »
Capital gains when selling property to family + MORE Mar 18th
Do I have to pay income tax if I inherited a property jointly with my sister and she bought me out for less than half the appraised value of the property?
—Johanna
Capital gains and transferring property between family
Asset sales between family members can be tricky to facilitate at a family leve.... More »
Myths and facts of reverse mortgages
– moneysense.ca
A reverse mortgage is exactly what the name implies: accessing the existing equity you have built in your home by granting a mortgage to a lender without the need to make monthly payments.
And yet, there are many misconceptions about this financial product, which allows Canadians to borrow up to 55% of a home’s value, tax-free, on properties worth $250,000 or more.
With home property values soaring and the federal government tightening traditional mortgage qualification rules through a rigorous stress test, more homeowners are looking to reverse mortgages as a way to unlock the value tied up in their properties. Borrowers receive the money tax-free to use as they wish—to supplement their income and increase cash flow; to cover unexpected expenses or home renovations; and to help stay in their current home are just a few examples.
Unlike home equity lines of credit (HELOCs), which require monthly payments, reverse mortgages, such as those offered by Equitable Bank, are ideal for cash-strapped homeowners who want to stay put without increasing their living expenses…
And yet, there are many misconceptions about this financial product, which allows Canadians to borrow up to 55% of a home’s value, tax-free, on properties worth $250,000 or more.
With home property values soaring and the federal government tightening traditional mortgage qualification rules through a rigorous stress test, more homeowners are looking to reverse mortgages as a way to unlock the value tied up in their properties. Borrowers receive the money tax-free to use as they wish—to supplement their income and increase cash flow; to cover unexpected expenses or home renovations; and to help stay in their current home are just a few examples.
Unlike home equity lines of credit (HELOCs), which require monthly payments, reverse mortgages, such as those offered by Equitable Bank, are ideal for cash-strapped homeowners who want to stay put without increasing their living expenses…
How Filing Bankruptcy Affects Your Investments
– investitwisely.com
You’ve probably heard that when you file bankruptcy, you have to disclose all of your assets, including retirement accounts and investment accounts. This is true. And it is also true that the Chapter 7 Trustee has the power to seize your assets, including investment accounts. But did you know there are ways to file Chapter 7 and keep your investments?There are, and whether you can keep your investments will depend upon what types of investment accounts you have, how much is in those accounts and the law in your state. This information comes from the office of a noted Philadelphia bankruptcy attorney.
Using State or Federal Exemptions to Keep Your Investments
When someone files a Chapter 7 bankruptcy case, all of their assets belong in their “bankruptcy estate.” The Chapter 7 Trustee has the power to seize assets in the bankruptcy estate and sell them or liquidate them for the benefit of the debtor’s creditors. But before the debtor even files their case, their attorney will have applied for either state or federal “exemptions” to exempt the debtor’s assets from the estate and included those exemptions in the debtor’s initial filing…
