Auto Added by WPeMatico
Winter has a way of slowing our lives down, with tiresome shoveling, unexpected power outages and evenings spent curled up with a cup of tea or by the fire. Yet while the pace of daily life may ease, our spending rarely follows suit. Between online shopping, higher heating bills, warm-weather getaways, weekends on the slopes […]
Keep winter spending surprises from leaving you out in the cold Read More »
Ingrid* is stressed. She is 68, retired, and on her own since her husband died seven years ago. Her current income is just enough to cover expenses with “little left.” But she wants to undertake a major renovation of her home and make sure her portfolio is able to generate at least $80,000 after tax
B.C. widow worried about retirement income with OAS clawbacks Read More »
Pamela de la Fuente writes for NerdWallet. Email: [email protected]. The article Black financial planners share 6 strategies for building wealth beyond the basics originally appeared on NerdWallet. https://www.nerdwallet.com/finance/learn/build-wealth-app-version #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding
Black financial planners share 6 strategies for building wealth beyond the basics Read More »
A client recently told me their mortgage was up for renewal in late January, and earlier that month — maybe four weeks before renewal — they received a mortgage renewal form from their bank, one of the Big Six . I was asked which term they should sign off on even though they didn’t like
Here’s why mortgage renewals may be the banks’ biggest rip-off Read More »
Rick VanderKnyff writes for NerdWallet. Email: [email protected]. The article NerdWallet Newsletters originally appeared on NerdWallet. https://www.nerdwallet.com/finance/news/newsletter-signup #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome #finances #generationalwealth
NerdWallet Newsletters Read More »
This week FP Video looks at how a flood of Chinese electric vehicles could be good news for Canadian car shoppers , what you need to know when filing your 2025 taxes , and what Mark Carney’s defence industrial strategy means for manufacturers and the Canadian economy. Chinese EVs good news for Canadian consumers, says
Expect used EV prices to fall as imports climb: FP Video Read More »
Once defined solely by a critical lack of supply, Canada’s housing crisis now faces the compounding challenge of plummeting sales. Sales over the past year have dropped in major centres across the country, particularly in the Greater Toronto Area (GTA), where the housing shortage remains most acute. Home sales in the GTA fell 11.2 per
Brad Carr: Canada needs to cut the GST/HST for all new homebuyers, not just first-timers Read More »
Kimberly Palmer writes for NerdWallet. Email: [email protected]. Twitter: @kimberlypalmer. The article Answers to Your February Money Questions originally appeared on NerdWallet. https://www.nerdwallet.com/finance/news/february-money-questions-answered #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome #finances #generationalwealth
Answers to Your February Money Questions Read More »
Raiding your retirement to make a down payment on your first home is a Canadian tradition that has long been encouraged by the government, but for young Canadians who bought homes at the top of the market, the strategy is looking like a disaster. The average sale price of a home peaked in March 2022
Canada’s high cost of living is eroding the confidence of its residents when it comes to their retirement plans. Two-thirds of Canadians say inflation has made it difficult to save for retirement, while 74 per cent said high prices have added to the concerns that their retirement nest egg may not be enough, according to
Posthaste: Increasing cost of living is eroding Canadians’ retirement confidence Read More »
Let’s pretend your boss promises you a big raise and a bonus, but you won’t actually receive either for 24 months. Now, imagine the government taxes you on that promise today. Say the raise and bonus will eventually total $50,000. Even though you won’t see a dollar of it until two years from now, you
Taxing unrealized gains is a silly idea that Canada should ignore Read More »
Q. Will you review the financial plan prepared for me by a certified financial planner? I am 65, single and have a good income, but I’m scared I don’t have enough money to retire even though the plan says I do. —Kate FP Answers: Hi Kate. Reading your question started me wondering about two things.
‘Chicken Little’ worth about $4 million is scared she won’t have enough to retire on Read More »
At 69 and 73 respectively, Marie* and Jonathan are just about to start withdrawing from their investment nest egg to fund their lifestyle. Up until this summer, Marie worked part time, earning about $3,000 a month. She wants to replace that earned income with investment income, but is concerned they may not have enough savings
Still working after 65, couple wonders if they can afford to retire Read More »
There is supposed to be no such thing as free lunch in this world, but an unnecessary number of Canadians will be a lot hungrier at retirement because they gave up that offer on a platter. We spend endless hours looking for ways to maximize investments, but a guaranteed 100 per cent return through employers’
Canadians have the option of contributing to a registered retirement savings plan (RRSP) and tax-free savings account (TFSA) to build long-term savings and benefit from tax-sheltered growth. But how do you ensure you are using them to their full potential? The Financial Post asked financial advisers to share their best tips for getting the most
These are the TFSA and RRSP tricks that can make you a fortune Read More »
There are thousands of unsold condominiums in Canada’s two priciest cities for housing, with not many buyers in sight. Who blinks first — buyers or sellers — is the biggest question that will determine whether sales pick up. A wildcard could be private equity groups, which are already eying inventory in Toronto and Vancouver, hoping
Garry Marr: As Canada’s condo market swoons, private equity is circling Read More »
Borrowing to fund your registered retirement savings plan (RRSP) or your tax-free savings account (TFSA) may seem tempting at this time of year, as promotions abound, especially for RRSP loans. But does it actually make sense? The answer depends on which plan you are targeting, how much you expect to make on investments, your appetite
Garry Marr: Borrowing to fund your TFSA or RRSP is tempting — but is it worth the risk? Read More »
Deciding how to divide your savings between a registered retirement savings plan (RRSP)and tax-free savings account (TFSA) to maximize the tax benefits can be challenging. But there are some mistakes that can really cost you, especially if you run afoul of the Canada Revenue Agency (CRA). With just a month to go until the March
Avoid these TFSA and RRSP mistakes to keep the CRA off your back Read More »
Whether you’re just entering the workforce or moving into your retirement years, you are likely grappling with the question of how to get the most out of Canada’s two main tax-deferred savings accounts. The tax-free savings account (TFSA) allows Canadians aged 18 and up to make limited after-tax contributions each year that grow tax-free and
Could retirement really be just a year away? Arnold*, 56, and Heather, 60, are hoping the answer is yes. The Ottawa-based couple have been running the numbers and scenario planning. They anticipate they will need to generate $118,730 after tax annually in retirement, which includes about $15,000 for travel. The empty nesters would also like
Should Ottawa couple defer CPP and OAS if they retire early next year? Read More »