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 […]

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 […]

Are shorter mortgage amortizations always better? No – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER- Special to The Globe and Mail For years we’ve been taught that shorter mortgage amortizations are better. Most people in the mortgage business don’t challenge this premise and certain lenders preach it as gospel. Consider this recent statement by a bank spokesperson: “Choosing a shorter amortization is the most responsible approach to home financing. […]

CPP investment arm has best year since 2004 – Consult with a Vancouver Mortgage Broker

CPP investment arm has best year since 2004 Fund which manages the retirement savings of 18 million people in every province except Quebec had its best performance since 2004 as private-equity returns surged. The Canada Pension Plan Investment Board has invested in office towers being built in the Barangaroo area of Sydney, Australia. The development […]

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 […]