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Introduction The dream of owning a cottage or cabin remains strong for many Canadians, with 59% of prospective recreational property buyers being first-time purchasers, according to a Re/Max report. However, purchasing a vacation property comes with unique challenges, especially when it comes to financing.  Here’s what you need to know to prepare for this journey […]

Introduction Buying a home is one of the most significant financial decisions of your life. With stricter mortgage qualification rules and rising interest rates, it’s crucial to plan carefully and avoid common mistakes that could jeopardize your mortgage approval. Even after receiving an initial approval, your lender may reassess your financial situation before closing. This […]

Introduction HELOCs are becoming increasingly popular with Canadians, offering flexibility and easy access to funds. Here’s everything you need to know about how they work and how to use them effectively. As of September 2024, Canadians held approximately $170.8 billion in outstanding Home Equity Line of Credit (HELOC) balances, marking a 3% increase from the […]

Introduction When buying a home or renewing your mortgage, one of the most crucial decisions you’ll face is whether to opt for a fixed-rate or variable-rate mortgage. While many Canadians lean toward fixed-rate mortgages, particularly during times of economic uncertainty, variable-rate mortgages have gained significant popularity in recent years. Understanding the pros and cons of […]

Introduction A Registered Disability Savings Plan (RDSP) is a government-registered savings program designed to provide financial security for individuals with disabilities. Despite its significant advantages, the RDSP remains one of Canada’s least-utilized registered savings plans, with nearly a million eligible Canadians yet to open one. The RDSP allows investments to grow tax-free within the account, […]

Introduction Retirement is the culmination of years of diligent savings and financial planning. But beyond saving for retirement, understanding how to manage your income and minimize taxes is equally critical.  By looking at your retirement income through a tax lens, you can maximize your financial security and retain more of your hard-earned savings. Which Types […]

Introduction Retirement is the culmination of years of diligent savings and financial planning. But beyond saving for retirement, understanding how to manage your income and minimize taxes is equally critical.  By looking at your retirement income through a tax lens, you can maximize your financial security and retain more of your hard-earned savings. Which Types […]

Introduction Almost half of all Canadian mortgages will come up for renewal within the next two years, a significant financial event for many homeowners. Unfortunately, a common mistake is to simply accept the terms offered by your lender without exploring other options. With rising interest rates and increasing financial pressures, it’s more important than ever […]

Introduction The Registered Retirement Savings Plan (RRSP) is a cornerstone of retirement planning for Canadians, offering tax advantages and flexibility. While most people are familiar with the tax deduction for contributions and the ability to grow investments tax-deferred, there are other valuable benefits of RRSPs that are often overlooked. This article highlights six lesser-known benefits […]

Introduction The Tax-Free Savings Account (TFSA) is one of Canada’s most versatile savings tools. Since its introduction in 2009, millions of Canadians have embraced the TFSA for its simplicity, flexibility, and tax-free benefits.  Whether you’re saving for retirement, a home, or a major life event, understanding TFSA withdrawal rules ensures you maximize its potential while […]