60% of Canadian mortgage renewals to face higher rates by 2026: BoC Jan 14th
The best 5-year fixed mortgage rates in Canada + MORE May 28th
Fixed-rate borrowers face up to 20% payment hikes at renewal, BoC warns Jul 23rd
BoC official warns against playing with mortgage rules to make housing affordable + MORE Nov 9th
CMHC reports further slowing of housing starts with no turnaround in sight Feb 16th
Can you maximize your RRSP and TFSA with an income of $0?
– moneysense.ca
I have $119,000 room allowed in my RRSP and $81,000 room in my TFSA.
I am 47, live in B.C., currently not earning income as a caregiver for a parent. I have a business with a registered GST number to claim income now or in the future. But for my question, let’s assume I will be claiming $0 for the next three years.
I have a sum of $250,000 coming to me as a gift, and I am looking to invest/save it.
I plan to use the portions not contributed into my TFSA and RRSP in investments that will be earning interest as income—likely mortgage investments.
Based on my income projections, what amount makes the most sense to invest into RRSPs at this time?
Should I spread the amount out over a period of time? Same question for TFSA.
—Jennifer
Maxing out registered accounts: TFSAs and RRSPs
Jennifer, you likely want to maximize your tax-free savings account (TFSA), skip the registered retirement savings plan (RRSP) for now, and put the rest of your money into a non-registered account…
‘Business for self’ clients are on the rise. How do you secure a mortgage for one?
– canadianmortgagetrends.com
A dive into the latest inflation results…too soon to celebrate?
– canadianmortgagetrends.com
