Downsizing vs reverse mortgage: which option is right for you? Feb 2nd

There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
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How much has the pandemic hurt your retirement plans? We delve into the retirement portfolios of two couples hit hard by COVID-19 to see what damage was done + MORE Feb 16th

We start with Deborah and Daryl Burton, a Toronto twosome in their early 70s who both contracted COVID-19 early in the pandemic..... More »
 retirement planning

When are tax-deferred and tax-free accounts actually taxable? + MORE Feb 9th

Q. I saw your blog online; thank you so much for the wonderful job that you are doing—it was very informative! That motivated me to start investing too, but now I have a couple of questions. I understand that there is tax on US dividends in TFSA, do we pay tax as well when we sell: U.S. stocks in.... More »

Women, here’s how to save more for retirement — or you’ll live to regret it + MORE Mar 2nd

The right adviser and the right habits can impose discipline, writes Lesley-Anne Scorgie..... More »
For many Canadians approaching retirement, their home is by far their largest asset. With detached homes in major cities selling for well above $1 million, it’s not surprising that owners expect to tap into that equity to help fund their golden years, prompting the common refrain: “My home is my retirement fund.” 
To make this strategy work, homeowners have a couple of options: 

sell your home, buy one that’s cheaper and pocket the difference (also known as downsizing); 
or, if homeowners are 55 years and older, take out a reverse mortgage, which provides up to 55% of the market value of a primary residence, tax-free. 

Although a reverse mortgage charges monthly interest on the amount borrowed, you don’t have to make any payments—neither interest nor principal—until you sell the house, move out of your house, default on the loan or the last homeowner dies. 
Each approach has its advantages and disadvantages. Here are some of the factors that you should consider before deciding which one is best for you…

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