How to go about securing the best savings strategy in Canada.
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Should you buy a vacation property? + MORE Aug 29th
The benefits of owning a vacation property are obvious. A cottage, cabin, condo or trailer a short drive from your home can provide a quick weekend recharge. A property down south can serve as a regular vacation destination or extended winter stay for a snowbird.
There are many emotion-driven reason.... More »
Canada’s best credit cards 2020 Nov 28th
Finding the right credit card could save you hundreds, if not thousands, of dollars a year. Whether you’re looking for lower fees, more rewards or simply valuable perks like travel medical insurance or rental car savings, every dollar counts. If you use your credit card wisely, pay off your balanc.... More »
How does a TFSA work? + MORE Dec 3rd
One of the side-effects of working for a personal finance magazine is that I’m always asked for advice. I always oblige, albeit sheepishly, without letting on that I’m still learning, too (which I freely admit here). For instance, the other day I was having lunch with some friends when we starte.... More »
Your March Money Update + MORE Mar 10th
March may come in like a lion, but our economy is in for a lambish season. The Bank of Canada has decided to hunker down and wait out the short-term effects of oil, declaring last month’s interest-rate cut will be enough to keep spending and inflation afloat.
Meanwhile, a debate rages over Canadi.... More »
How to draw money out of your corporation in retirement Nov 7th
Incorporated business owners can sometimes be unsure of how best to decumulate, drawing from their corporate savings along with their other investments and pensions. Corporate savings do provide complexity as well as opportunity.
From paying yourself a salary to drawing income
Business owners .... More »
Real Estate Success Secrets
– ratesupermarket.ca
Whether you’re scraping together savings for your first home, or contemplating your next move in the market, Canadian real estate can be a tad… overwhelming. This week, we’ve touched on some of your biggest home buying questions, from saving for a second home, down payment loopholes, and even buying property out of the country.
Read on for our full coverage, plus the week’s top headlines.
Can I Still Get a “Zero Down” Mortgage With a Credit Union?
By law, every homebuyer must make a minimum 5% down payment on their new home purchase when taking out a mortgage from a federally regulated lender (think the 5 big banks). But what about credit unions, which are regulated provincially?
The truth is, zero-down mortgages do still exist at some of these lenders. But is it ever a good idea to get one?
Read Allan’s Blog | Can I Still Get a “Zero Down” Mortgage With a Credit Union?
Why Your Starter Home May Be Your Only Home
The traditional way into the housing market is to start small, build equity, and move on up to a bigger and better home later on…
Read on for our full coverage, plus the week’s top headlines.
Can I Still Get a “Zero Down” Mortgage With a Credit Union?
By law, every homebuyer must make a minimum 5% down payment on their new home purchase when taking out a mortgage from a federally regulated lender (think the 5 big banks). But what about credit unions, which are regulated provincially?
The truth is, zero-down mortgages do still exist at some of these lenders. But is it ever a good idea to get one?
Read Allan’s Blog | Can I Still Get a “Zero Down” Mortgage With a Credit Union?
Why Your Starter Home May Be Your Only Home
The traditional way into the housing market is to start small, build equity, and move on up to a bigger and better home later on…
Is an Individual Pension Plan right for you?
– moneysense.ca
Getty ImagesA few weeks ago, we looked at the topic of raising RRSP limits. As noted then, it was based on a C.D. Howe Institute report that suggested one possible solution to the alleged retirement crisis was simply to go back to the half-century-plus RRSP and raise contribution limits for the (relatively) few affluent people who are forced to save in taxable accounts because they’ve maxed out on RRSP room.
If you’re at top executive or own your own business and are 40 years of age or older, there may be another way to get the benefits of RRSPs. The Individual Pension Plan or IPP is an employer-provided program that replaces RRSP savings by an employee, says Stephen Cheng, managing director of Vancouver-based Westcoast Actuaries Inc. To be eligible for an IPP, you need to receive pension-eligible T-4 employment income. Self-employment income, partnership income and dividend income are not pension-eligible, Cheng says. So if you own your own business, you’d have to pay yourself a regular salary that generates T-4 employment income…
INFOGRAPHIC: Canadians Top Foreign Investors in U.S. Real Estate
– ratesupermarket.ca
By The Housing Block
With real estate values skyrocketing in Canada, many homeowners find themselves with more home equity than they could have ever imagined. While a lot of Canadians are house rich, they’re struggling to earn a decent return in the low interest rate environment.
With safe investments like high-interest savings accounts, bonds and GICs barely keeping up with inflation, a lot of Canadians are considering investing in U.S. real estate. With U.S. home prices still depressed in some regions and a relatively strong Canadian dollar, investing in U.S. real estate remains an attract opportunity for Canadians – as long it’s done right.
Canadians Top Investors in U.S. Real Estate
When it comes to investing in U.S. real estate, Canadians are the top foreign investors in terms of volume. We represent 15 per cent of total international sales and 19 per cent of all transactions in the U.S., according to the National Association of Realtors (NAR). Between March 2013 and March 2014, we bought a whopping 13…
