Five ways to save for your child’s education – other than RESPs- Consult with a Vancouver Mortgage Broker

ROMA LUCIW– The Globe and Mail Most Canadian parents know about RESPs (which doesn’t necessarily mean they have them) but few are aware of alternative ways of saving for their child’s post-secondary education, says a new report. The report, released Wednesday by the Bank of Montreal, says a study conducted last year found that 83 per […]

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 […]

10 ways to be a better saver and investor

By Alison Griffiths Happy birthday Moneyville! For the past year, it has been chock-a-block with practical ideas for saving money and spending wisely. For me, one of the best aspects to Moneyville’s first year has been the tremendous response from you readers with your own financial suggestions and experiences. In keeping with Moneyville’s theme of […]

Ottawa chastised for handling of TFSA tax rules

The Canada Revenue Agency should have been more active in fulfilling its responsibility of letting Canadians know the tax consequences of the Tax-Free Savings Account (TFSA), says a new report from the federalTaxpayers’ Ombudsman. Although the rules regarding withdrawals and over-contributions were available on the CRA’s website from the start of the program, the report released Monday said the […]

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 […]

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