Not sure how to make a savings plan? Read on…
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The best high-interest savings accounts in Canada for 2025 + MORE Mar 18th
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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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Stock news: Cogeco, Roots, and BlackBerry deliver earnings gains but outlooks remain mixed + MORE Apr 15th
Here’s a round-up of news for Canadian investors this week.
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The best high-interest savings accounts in Canada for 2025 + MORE Jul 16th
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Should you transfer property to a child and then rent it from them? Jul 31st
I would like to know if transferring our home into our daughter’s name—can we stay and pay rent and get a rental home credit? Is it valid?—Satyesh
Tax credits when renting property from a family member
There is a lot to unpack with your question, Satyesh, but I will address your direct q.... More »
Top 5 questions about family RESPs + MORE Dec 4th
If you’re saving up for a child’s post-secondary education, a registered education savings plan (RESP) can’t be beat as a savings tool. No other plan or account in Canada will give you access to thousands of dollars in government grants—free money for your kid’s future tuition and other ed.... More »
With no debt, his goal now is to buy a home and put the rest of his savings into stocks for retirement. But with his girlfriend’s work in Toronto, where should he buy and what can he achieve?House rich: How to access the equity in your home
– moneysense.ca
With the national average home price up a record 18.5% in August 2020 compared to the same time last year, more Canadians than ever have a significant portion of their wealth tied up in their homes.
Who are these “house rich” homeowners? They range widely—from retirees on a fixed income, to baby boomers who’d like to help their adult kids financially, to young parents struggling to save due to the high cost of living and childcare.
Many are now looking at ways to access the equity in their homes. These include refinancing their traditional mortgage, obtaining a home equity line of credit (HELOC) or getting a reverse mortgage. But how can you determine which option is best for you? To help you decide, we’ve outlined four common scenarios of house-rich homeowners, and how—or if—they should go about tapping into the equity in their properties.
Scenario 1: Pensioners who need to increase cash flow
While lucky enough to have company pensions, these retirees underestimated their post-work cash-flow needs…
Who are these “house rich” homeowners? They range widely—from retirees on a fixed income, to baby boomers who’d like to help their adult kids financially, to young parents struggling to save due to the high cost of living and childcare.
Many are now looking at ways to access the equity in their homes. These include refinancing their traditional mortgage, obtaining a home equity line of credit (HELOC) or getting a reverse mortgage. But how can you determine which option is best for you? To help you decide, we’ve outlined four common scenarios of house-rich homeowners, and how—or if—they should go about tapping into the equity in their properties.
Scenario 1: Pensioners who need to increase cash flow
While lucky enough to have company pensions, these retirees underestimated their post-work cash-flow needs…
With no debt, his goal now is to buy a home and put the rest of his savings into stocks for retirement. But with his girlfriend’s work in Toronto, where should he buy and what can he achieve?The MoneySense Guide to Personal Income Tax
– moneysense.ca
The post The MoneySense Guide to Personal Income Tax appeared first on MoneySense.
