Tag: investments

• Real Estate or Stocks? Why Property Holds Its Value for Canadian Investors - With recent stock market swings and a noticeable dip in housing prices, many investors are asking, “Which is the better investment—real estate or stocks?”. It’s a fair question, especially in uncertain times. Real estate has long been seen as one of the most dependable ways to build long-term wealth in Canada. It’s a physical asset ...
• House vs Condo – Which One is Your Best Investment Option - Trying to decide if the best investment option is a condo or a single-family home? Each option has its own perks and challenges, and the right choice depends on your budget, preferred tenants, and long-term goals. In this guide, I’ll break down the key differences so you can make an informed decision with the advice ...
• Why Today’s Lower Interest Rates Make It A Good Time For Real Estate Investments - The Canadian housing market, including real estate investments in residential and commercial properties, is deeply influenced by interest rate trends. With the Bank of Canada cutting its overnight rate to 3% in January— the sixth consecutive reduction — there’s a lot to unpack about how this is impacting real estate investments and the broader market. ...
• Understanding HELOCs and When It’s The Right Time To Use One - Home equity lines of credit (HELOCs) are a popular way for Canadian homeowners to access borrowed funds. And it’s easy to see why: HELOCs typically come with lower interest rates than credit cards or personal loans and offer the flexibility to use the money for just about anything. But what exactly is a HELOC, and ...
• 10 Ways to Avoid The Holiday Debt Hangover - The festive season should be about fun and family, not financial stress, so avoiding holiday debt is important. We all love the magic of the holidays – buying gifts, enjoying big meals, and doing fun stuff like ice skating or skiing. But let’s be real: it’s super easy to go overboard and end up with ...
• Everything You Need To Know About Reverse Mortgages - Reverse mortgages might sound like a puzzling financial product, but for many Canadian seniors, they’re becoming a game-changer in retirement planning. Think of it as unlocking the money that’s been quietly sitting in your home all these years. If you’re an Ontario homeowner who’s been wondering how to boost your retirement income without selling your ...
• How To Boost Your Credit Score In 4 Simple Steps - Why is your credit score important? If you want to get a mortgage, buy a car, take that vacation of a lifetime, or even rent an apartment, you will need a good credit score. This is the first thing that lenders and landlords will check to decide if they will take a risk on you. ...
• Your Guide To Eliminating Credit Card Debt - Having a credit card in today’s world seems inevitable when so many services and sales are often only available to a card holder online. Used responsibly, credit cards can be a beneficial financial tool. But while credit cards can offer rewards and cash back on everyday purchases, taking advantage of these perks hinges on your ...
• Helping Your Child Achieve Their Dream of Home Ownership - In the pursuit of assisting your child in achieving the milestone of homeownership, the challenge often lies in amassing the necessary down payment. As parents, you understand the significance of fostering independence, yet the financial aspect can be daunting. This article delves into a strategic solution available to Ontario residents—the First Home Savings Account (FHSA). ...
• Keeping Your Holiday Spending Under Control Without Being A Scrooge - ‘Tis the season for festive vibes, holiday tunes, and the unmistakable hustle and bustle of Canadian holiday shopping. Despite a bit of economic unpredictability, soaring inflation, and interest rates doing their own dance, Canadians are adamant about soaking in the holiday spirit and spreading the joy of giving. So, what’s the scoop on this year’s ...
• Dreaming About A Vacation Property For Your Retirement? A Reverse Mortgage Can Help - Embarking on the golden years of retirement often comes with dreams of basking in leisure, and for many older individuals, that dream involves escaping to a vacation home. However, turning that dream into reality can pose a financial challenge, especially when savings are limited or tied up in your primary residence. The key to unlocking ...
• How Investing In An FHSA Today Can Save You Big Money In The Future - Buying a home is a classic life milestone, right? The one that shouts, “I’m officially adulting!” But here’s the rub: with house and condo prices skyrocketing, it’s got a lot of hopeful first-time home buyers wondering if they’ll ever catch a break. According to Statistics Canada, homeownership rates for those aged 30 to 39 have ...
• Creating a Financial Plan For Your Golden Years - Retirement. It’s a dream many of us hold onto while we’re working hard to make a living. Does yours include worry-free days, traveling the world, or spending time with your family and friends? These are all wonderful goals but, if you don’t have an investment plan in place, that daydreamy bubble could burst. Crafting a ...
• What Does It Mean To Inherit a House? - You’ve just lost a loved one or had to move a parent into a new assisted housing arrangement and as a result you’re inheriting a home. Dealing with their property involves a lot of responsibilities that you may or may not be prepared for. Whether you decide to retain the property or place it on ...
• Is An Income Property A Good Investment? - Maybe you’ve come into an inheritance or received a substantial bonus at work. Or perhaps you’re looking for a way to invest your money that is lower risk and provides you with a retirement income. Either way, investing in a rental, or income property could be a good investment for your future. Although there are ...
• Demystifying Mortgage Interest: Understanding How it Impacts Your Home Financing - I’m often asked about mortgage interest and how it impacts a home buyer over the length of their amortization period. The short answer is: Mortgage interest in Ontario refers to the cost you pay to borrow money from a lender to purchase a home. When you take out a mortgage loan, the lender charges you ...
• Mastering Debt, Saving Your Down Payment and Enjoying a Budget-Friendly Summer - Now that the long, cold winter is finally behind us, it can be tempting to forget about our carefully crafted budgets and indulge in the pleasant weather. However, it’s essential to remember that our financial plans remain just as relevant during the summer months, even though sticking to them may feel more challenging. Fortunately, there ...
• Taking Advantage of The First Home Savings Account - Great news for first-time home buyers! The government has announced a brand new tax-free savings account to help you save a down payment to buy your first home. A first home savings account (FHSA), is a registered plan that enables first-time buyers to save for their first home tax-free, subject to certain limits. Starting April ...
• The Ultimate Guide For Saving Your Mortgage Down Payment - Are you prepared to purchase a home? The down payment is a significant upfront cost when buying a house, and the more you allocate towards it, the lower your fees and interest payments will be over the lifetime of your mortgage. Do you have enough funds saved to secure the mortgage you require? What is ...
• What You Need To Know About The New Tax-Free Home Savings Account - If you’re looking to buy your first home in the coming years, I have great news for you! The federal government released its 2022 federal budget and having more affordable housing was high on its agenda. And, drum roll, please…They announced a brand new tax-free savings account for first-time home buyers to help them save ...
• What Is An Equity Take-Out Mortgage? - If you’re like many Canadian homeowners at the moment, you’re likely looking for different ways to increase your monthly cash flow and how to pay down your debts. Maybe you want to finish paying off your existing mortgage, you want to move into a larger home, or you just want to feel a little more ...
• Investing in a Tontine To Pay For A House - There are many non-traditional ways to save money for a house other than budgeting, using government funding or inheritance money. Have you considered using a tontine to help pay for a new home? Working with a reputable financial advisor is the best way to invest your money if you are thinking of exploring tontine options. ...
• What Is An Alternative Mortgage Lender? - When you’ve decided to buy a new home, whether you’re making the transition from being a renter to becoming a homeowner or you’re leaping into home ownership moving out from under your parent’s roof… The most important part of the process isn’t finding the right house to buy… It’s securing the financing you need to ...
• How To Use Your RRSPs To Save For Your Down Payment - A 20% down payment on a million-dollar home seems like a lot, right? Not many of us have $200,000 in our pockets ready to hand over. However, there are many ways to save up for a down payment of that amount, including contributing regularly to a tax-free savings account (TFSA), looking into the equity of ...
• How To Finance Home Renovations That Give A Good Return On The Investment - Staring at that old kitchen counter from the 1990s that you wish you could change? Or wishing your basement could be turned into the entertainment center it deserves? Your dreams of home renovations may not be as far out of reach as you think. Having a mortgage is like holding an investment account. Your home ...
• Helping Your Teen Develop Good Financial Habits - Spoiling your best friend, partner, and family this holiday season may feel good, but everyone has to learn financial responsibility at some point. When a teen gets their first job, it’s an eye-opener for them to finally have money in their bank account that did not come from their weekly allowance. This time of year, ...
• 8 Ways To Stay Out Of Debt This Holiday Season - It’s the most wonderful time of the year, the time for holiday cheer! Put those increasing interest rates behind you and think about the magical time this holiday season brings us, gathering with friends and family. Perhaps those rising interest rates and inflation costs are not what you were hoping to receive in your stocking ...
• How To Save For Your Child’s Secondary Education - Before you know it, your little daughter or son isn’t going to be so little anymore. It’s incredible how quickly the time flies by, and in a blink of an eye, you’ll be helping them fill out College or University applications and packing the car to head out on campus tours. The average price for ...
• How To Fund Your Retirement Using Your Home - First off, I just wanted to say congratulations that you’re thinking about or looking into retiring. Retirement is a huge milestone, and I want to ensure the stress of your finances isn’t taking away from your excitement that you’ll have more time in the day to do whatever you would like without pesky work getting ...
• The Blog To Read Before Flipping A House - If you’re like me, home renovation shows get me hooked. Except, they make it look pretty easy when you see professionals with a huge budget being able to flip a rundown shack into a gorgeous tiny home. If you’re up for the challenge of buying a property and flipping it for a profit, you’re in ...
• 9 Money Saving Tips To Get That Down Payment - Are you having a difficult time-saving money? Perhaps you’re looking to save a down payment for a house, or you want a bit of a nest egg for emergencies? Whichever the case, these tips will help you cut down on your spending. Remember: every little bit helps! If you cut out one splurge every week, ...
• Life Insurance & Being a New Parent — What You Need To Know. - As a new parent, you have a lot of things on your mind – What colour do you paint the baby’s room? What daycare will you choose? What school do you want your child to attend when they are older? How can you save on groceries? A thought that doesn’t often cross a new parent’s ...
• Things To Consider When Buying Foreign Property - With the colder months fast approaching, we’re already dreaming of sunny beaches, mountain excursions, and sipping on drinks in a hot tub. Sure, you can book a vacation, but if you go down multiple times a year with the entire family, those costs can add up. Have you thought about buying foreign property to spend ...
• 5 Ways To Avoid Mortgage Financing Hiccups - It’s tempting to splurge now and then with a late-night restaurant visit, tickets to your favourite game, or some new home decor pieces. However, these “splurges” can creep up on your wallet. Sure, we can’t be perfect with our spending habits, but it’s important to stay on track with your budget when it comes to ...
• How Do You Save A Down Payment? You Make A Plan! - Searching for a new home is the exciting part of your house hunt. Scrolling on the internet, judging each house one by one until you find one that immediately catches your eye and you just know that THIS is the one you must see. You visit the home and instantly fall in love. You could ...
• What Does It Mean To Consolidate Your Debt? - No one likes to hear the word “debt.” Debt can be daunting and keep you up at night. But I’m here to tell you that, if you follow my advice, the word won’t be as scary as you think. By investing your money and paying your bills on time, debt has benefits like improving your ...
• 8 Secrets To Paying Off Your Mortgage Faster - Wouldn’t it be nice to know that you don’t have to pay your mortgage anymore?! You could save all that money and put it towards your retirement or that vacation you’ve been dreaming of. It’s easy to let money stress you out and get you down. However, if you invest some time and effort, you ...
• Is This The Right Time To Refinance My Mortgage? - There are many benefits to refinancing your mortgage. However, it’s important to weigh the pros and cons to ensure it’s the right time for you to do so. With inflation and mortgage rates rising, be sure to look at your existing contract and assess whether or not refinancing will cost you or save you money ...
• Is my money better in a TFSA or an RRSP? - So you’ve been budgeting wisely and you’re starting to see your savings account grow. Or maybe you’ve received money through an inheritance or work bonus.  It’s time to look at your life goals and decide what to do with that nest egg. What is your next big purchase going to be? A car, a house, ...
• Is Buying a House with a Group of People a Good Idea? - These days, It can be very overwhelming just thinking about buying a new home with the high housing costs in today’s real estate market. Many people feel like owning a home is out of reach. Because of this, some people are looking for alternative ways to get pre-approved for a mortgage, including buying a house ...
• Should You Use Your Inheritance Towards Your Mortgage? - Sometimes it’s hard to “look on the bright side” in every situation especially when a loved one dies. Death is the hardest thing humans have to internalize. After all the funeral and estate fees, you may be chosen as a recipient of money from the deceased’s estate. When you receive an inheritance, it’s essentially free ...
• What Is A TFSA? - These days it feels like it’s impossible to afford anything and buying a house feels out of reach for many in the Barrie area. In fact, when it comes to saving money at all you may feel extremely overwhelmed and don’t know where to start. Whether you’re planning for retirement, planning to purchase your first ...
• Why You Need to Get a Mortgage Pre-Approval in 2021 - Buying a home is a goal many young Ontarians have on their to-do list and it’s a lofty one at that. With housing prices soaring in the past couple of years and rent prices increasing at a similar pace, how is one to get far enough ahead financially in order to buy a home? That ...
• Using Your Mortgage to Pay Down Debt and Increase Cash Flow - On the surface, your mortgage may be a long-term investment or a way to save for your future. But a mortgage is more than what meets the eye. Even though a mortgage is itself a loan, similar to other types of debt, it can actually provide you with the opportunity to save money and can ...
• What is an RRIF? - Did you know that the money you contribute to your Registered Retirement Savings Plan (RRSP) can’t stay there forever? That’s right. When you turn 71 years old, you will need to move that money. This doesn’t mean you will be forced to take out your RRSP savings all at once and pay a huge tax ...
• Should you consider Airbnb as an investment strategy? - Do you own an additional space or property that you’re not using? Have you ever stayed at an Airbnb and heard of the lucrative possibilities of owning an investment property? Hosting an Airbnb does present major opportunities for real estate investors. However, hosting an Airbnb does come with some challenges too. This is my shortlist ...
• Home equity from your mortgage – when is a good time to use it? - As a homeowner, you already know that one of the many benefits of owning a property is getting to build equity. Home equity is the difference between the value of your home and how much you owe on your mortgage. Or, in other words, it’s the portion of your home or mortgage that’s been paid ...
• How to manage your inheritance - Receiving an inheritance usually means the death of a loved one or a close friend, so firstly my condolences for your loss. Losing someone you love is never easy. But if you have recently received an inheritance, there is a silver lining. Whether it’s big or small, an inheritance can provide you with a life-changing ...
• New year, new financial success - It’s a brand-new year, which means it’s time for a new you! What better way to improve yourself for the new year by evaluating and improving your finances? 2020 was a very different year for many of us – and maybe your finances aren’t looking quite the way you’d expected. But now that you’re better ...
• Financial planning and RRSPs - You’re ready to start financially planning your future, but where should you start? Navigating different savings plans and ways to invest your money can be overwhelming.. I’m here to help simplify your journey. One of the many savings accounts you can choose from to start investing your money in is an RRSP. But, what is ...
• RESPs…For Christmas? - The holidays are upon us. Which means it’s time to start wrapping up our Christmas shopping, finish decorating the tree, and getting ready for the annual Christmas feast (which may look a little smaller this year with safety guidelines). But do you know what the best gift to give your child is? The gift of ...
• 3 Ways To Avoid The Holiday Debt Crunch This Year - The joys of the holidays are fast approaching. The lights, the decorations, the Christmas cheer …and of course – the holiday debt. Money is a big stressor for many of us during the holidays, especially this year with the COVID-19 pandemic, your wallet may be looking a little bit lighter than usual. Your finances don’t ...
• 5 things to think about before upgrading to a larger home - There’s a lot to think about when buying a new home. Whether you’re still living in the first home you bought or you’re an investment property pro, each house you buy is a major investment that needs to be thought through very carefully. Particularly when you’re about to purchase a larger property, there are going ...
• How to Keep Your Home In a Divorce. - It’s a common debate between a married couple getting a divorce: who gets to keep the house? However, the question you should be asking yourself is: who can afford the house on their own? A divorce is an extremely emotional process where sometimes our feelings can mask our better judgement. Many of us have emotional ...
• 5 Tips to Improve Your Credit Score - Your credit score can make or break your real estate dreams as a first time home buyer. Especially with the stress test looming overhead while you’re scrambling to get your savings together for a down payment. Mortgage lenders always will review your credit score before pre-approving you for a mortgage for a few reasons. So ...
• What are the penalties if I break my mortgage? - The Bank of Canada has announced many dips in interest rates over the past few months, so I thought it timely that we talk about the penalties of breaking a mortgage as I’ve had clients asking me recently if it makes sense for them to break their mortgage to take advantage of lower interest rates. ...
• Dealing with Debt, your mortgage & COVID-19: for the self-employed - Looking back at February in 2020, many self-employed individuals and business owners had no idea their world would change come March 15 onward. COVID-19 has had a vast impact on business owners and support from the government has been tough to navigate on many levels from an HR perspective, an operating standing point and cash ...
• Should You Break-Up with Your Mortgage? - It’s not you, it’s your mortgage. Just because you’ve agreed on a mortgage contract, doesn’t necessarily mean it’s set in stone. There are several reasons why you may be reconsidering your mortgage. Perhaps you’ve had a major change in your financial situation or maybe you’re interested in buying a new house. Or it could be ...
• Think Before You Spend – Managing Your Inheritance - You’ve just inherited a large amount of money. Inheritances can create excellent opportunities for you depending on how much you received. For some people, the immediate thought is to spend that money right away. However, inheritances can have great financial impacts for you if you treat them carefully. Normally with an inheritance, it involves a ...
• Financial Planning of RRSPs, and Why You Should Care - There’s an acronym that keeps popping up recently: RRSP. Unsure of what an RRSP is and how they can help you when buying your first home? Well, you’ve come to the right place. Here’s a quick crash course on RRSPs and how they can make a huge impact on your financial planning strategy. What is ...
• New Year, New Financial Success - Many people make resolutions each year to get organized, eat healthy or exercise more. While those are all great pursuits, it’s also important to get your finances in order and work towards the goal of achieving more positive results where your money and lifestyle is concerned. More and more Canadians are getting deeper into debt, ...
• Top Tips to Keep Out of Debt this Holiday Season - There’s a lot of pressure every holiday season to spend, spend, spend! From gifts for friends, family and coworkers, to decorations, dinners and parties; the money just flies out of the wallet! While it’s definitely challenging to stick to financial goals and avoid going deeper into debt this time of year, there are ways to ...
• How to Stick to Your Budget While Making Great Summer Memories - Summer is such a special time – especially after the long winters we tend have here in Simcoe County. For anyone who’s been trying to focus on reducing debt or saving up to buy a home, the temptation to spend money during these precious warm months can really put a damper on those financial goals. ...
• Easy Ways to Save Money & Reach Financial Goals - As a new year creeps up on us, we often find ourselves thinking about resolutions and goals we want to set. Resolutions are all about striving for success – whether it’s related to our health, fitness, careers, personal goals or finances. In this line of work, I talk to a lot of folks who are ...
• Does It Really Make Sense to Consolidate My Debt? - Dealing with debt is kind of a drag. It’s also pretty common. In fact, recent stats show that quite a few Canadians are struggling to manage the debt they owe, with the average, non-mortgage amount of household debt sitting at approximately $20, 000. There is some good news when it comes to consumer debt, however. ...
• 5 Ways to Make Managing Your Money Easier - Paying those bills on time, keeping spending in check, steering clear of debt, and working towards your future financial goals – managing your money is certainly no easy feat! Throw in a few acronyms like TFSA, RRSP, RESP and it can be darn right confusing! You may be surprised to learn that managing your money ...
• 5 Great Tips for A Debt Free Holiday Season - Consumer debt. If you don’t carry even just a little bit of it, you are certainly not the norm. Recent stats show the average debt-to-income ratio for Canadians is currently sitting at $1.69, meaning that for every dollar we earn, a lot of us own $1.69. Although managing debt can be tricky at any time ...