Here’s why paying off your mortgage isn’t always the best idea – Consult with a Vancouver Mortgage Broker

It amounts to financial heresy to some conservative investors but paying down your mortgage early just might not be the best plan. Should you rent or own your home? People say that when you grow up, you buy a home. Who are these “people?” Your married friends, your parents and other grown-ups who ask: “Don’t […]

Three things to do with your money besides an RRSP – Ask a Vancouver Mortgage Broker

With the March 3 RRSP deadline fast approaching, you may be wondering whether you should join the herd and make that RRSP contribution in time to be able to claim the deduction on your 2013 tax return. Whether or not you decide to contribute to an RRSP this year depends on a number of factors, […]

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 […]

10 things you should know about TFSAs – Ask Adil Virani, Vancouver Mortgage Broker

While many Canadians are focused on the looming RRSP deadline and maximizing contributions, it’s important that they don’t lose sight of an important alternative investment, a tax-free savings account. A major benefit of TFSAs is that money invested in them can grow tax free-for life, says Ahmad Dajani, vice-president of investments, guaranteed investment certificates and […]

Don’t take an RRSP loan, unless…

Maxing out your RRSP is a smart move, but for most people an RRSP loan isn’t the way to do it. Despite promises of stellar long-term growth and the dangling carrot of big, fat refunds, people are finally figuring out that the only beneficiary of an RRSP loan is the lender, unless… 1. You’re in […]

What’s the best way to save for a house: RRSPs or TFSAs?

Add RRSPs versus TFSAs to the list of decisions you have to make as a prospective home buyer. Some serious saving is going to be required to meet the minimum 5-per-cent down payment for buying a home, not to mention the 20-per-cent threshold for avoiding costly mortgage default insurance. Two ideal vehicles for saving are […]

Easing the tax hit for investment property owners

Whether it’s a duplex, a cottage or a Florida getaway, a second property can be a rewarding investment over time. But if you’re not careful, it can prove taxing as well. A little planning goes a long way. The following are some common mistakes financial planners see in their practice, as well as some tips […]