Movin’ on up: Couple eye bigger home, a solid retirement foundation

After working out of the country for a year, Edgar and Abby are ready to set down roots. He’s self-employed, bringing in anywhere from $120,000 to $200,000 a year. She works in communications, earning roughly $90,000 a year. He is 41, she is 34. They have a toddler and hope to have another child or […]

The newly rich: How your world changes when downsizing creates a windfall

You may never have imagined yourself sitting on a financial windfall and wondering what to do with it but many older Canadians who have lived through the housing market’s finest hours are facing just that. If the investment in your family home has paid off handsomely over your lifetime, there might come a time to […]

Couple in 50s dreams of a holiday home in the sun – Consult with a Vancouver Mortgage Broker

Lana and Zack’s story is an increasingly familiar one: people in their 50s with well paid but stressful jobs who can barely wait to leave the work force. He is 51, she is 50. They own their house outright and have no debt. “We are eagerly working toward what we hope will be early retirement,” […]

Money-losing rental and layoff put retirement at risk for couple in their 50s

Situation: Layoff and inability to find a new job plus a money-losing rental property jeopardize couple’s retirement Strategy: Either get a new job to subsidize the rental or sell it to balance budget. Tidy up cluttered investment portfolio to reduce fees and duplicaton At their ages of 55 and 51, Dan and Martha, have hit a series […]

TFSA or RRSP? Here’s how to decide – Consult with a Vancouver Mortgage Broker

NOREEN RASBACH-  The Globe and Mail Kuly Gill is every financial planner’s dream. The Calgary lawyer, in his 30s, owns a house, drives an older car and forgoes some annual vacations to save more for retirement. “I live cheap and put everything away,” he says. His investment strategy is simple: Contribute the full amount allowed […]

For young people, debt might come before RRSPs – Ask a Vancouver Mortgage Broker

Resolving to “get healthy” is a decent plan. However, setting a goal of biking to work and cutting out your afternoon peppermint mocha and chocolate cookie is an even more effective plan. How to practice ‘sustainable spending’ in retirement so you don’t run out of money Congrats! You’ve grown your nest egg to a size […]

Are you meeting these money management milestones? – Ask a Vancouver Mortgage Broker

LINDA STERN – WASHINGTON — Reuters Life spans are long, and not everyone lives on a “house and kids by 30, first million by 50” kind of schedule. Nevertheless, there are financial milestones that it helps to hit at every stage. Here is my list, by decade. If you are late on a few, that’s no big deal. […]

TFSA or RRSP? Try these five tests – Ask a Vancouver Mortgage broker

By: Gordon Pape Building Wealth, Published on Sun Feb 17 2013  There is a lot of confusion over whether it’s better to use an RRSP or tax-free savings account (TFSA) to save. Unfortunately, there is no easy answer. There are several variables to consider. To simplify matters, I’ve created five tests that you can apply to help you […]