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Fifth anniversaries are traditionally celebrated with wood, but five years after mortgage rates hit an all-time low, some homeowners are probably wishing for stone, with a rate etched in it. About a million Canadians got the rate of a lifetime on a mortgage in 2021, but today find themselves married to homes that will cost […]
Tax season is in full swing, and we know you have questions. That’s why our expert tax columnist, CIBC’s Jamie Golombek , is answering Financial Post readers’ questions during this live chat, hosted by FP’s Larysa Harapyn. Leave your questions in the comments below (they won’t show up as we are moderating them) or email
Livestream Q&A: Jamie Golombek answers your tax questions Read More »
The mortgage renewal wave that has long loomed over pandemic buyers who purchased homes at rock-bottom rates may finally be coming to an end, according to a Wednesday report from Toronto-Dominion Bank. “Canadian households are approaching the turning point where the shock is behind them,” TD economist Maria Solovieva wrote in the report. “The hill
Mortgage renewal headwinds near a ‘turning point’ for pandemic buyers, report says Read More »
By Brian Cox Women are more likely than men to be appointed to positions of trust for tasks such as administering estates and making important decisions on behalf of someone who has become incapacitated, but they’re often not named as a beneficiary in the related will , says a new study by Willful. Erin Bury,
Crisis-managing Canadian women often left out of people’s wills Read More »
I was frustrated a number of years ago when I was leading our firm. We were very busy, we had too many “good ideas” and our capital — financial and human — was spread thin across too many projects. Output wasn’t matching effort. But our productivity improved almost immediately when we cut the noise and
One tax change that could improve Canada’s productivity and benefit all Read More »
As you start to organize your tax slips, receipts and other tax information to begin preparing your 2025 personal tax return , you’ll want to ensure you have all the details of any foreign property you held last year. The prompt to report ownership of foreign property appears right on page two of the 2025
Taxpayer got no relief from court after CRA penalties on late filing of foreign holdings Read More »
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’