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In its quarterly housing affordability report, Royal Bank of Canada said the cost of home ownership moved lower for the first time in more than a year over the summer, as low mortgage rates and prices made it easier for buyers to pay for their homes. Looking at Canada as a whole is a generality [...] As most banks have been tightening the screws on real estate investors by reducing the amount of rental income used ($1000 in rental income per month equates to $200/mo in borrowing power using the 50% add to income method that the major banks use to qualify a rental property), a few Credit Unions have [...] Canadian homeowners are handling their mortgage debt so well they could handle paying more each month, according to a report released by the Canadian Association of Accredited Mortgage Professionals. Its sixth annual report on residential mortgages found the vast majority of mortgage-holding Canadians (84%) could afford an extra $300 or more a monthly in [...] With 91% of Canadians not being able to retire by the age of 65, it is extremely important, and the sooner the better, to put together a financial plan so that we can be of the 9% that will. In order to do so, we need to determine our financial independence number (FIN). This [...] The registered education savings plan sounds so simple – put money away in a tax-sheltered plan for long-term growth and then make gradual withdrawals to pay for your kids’ college or university tuition. Questions and complications can quickly arise, though. The following article addresses seven of the trickiest aspects of RESPs: http://www.theglobeandmail.com/globe-investor/personal-finance/rob-carrick/the-mysterious-world-of-resps-revealed/article1790651/?cmpid=rss1 addthis_url = ‘http%3A%2F%2Fwww.investingincanada.org%2Finvesting-in-canada%2Fdemystifying-resps’; [...] |
peter@investingincanada.org 
Peter Merabian helps Canadian individuals and families by providing investment and tax saving strategies that help them achieve their financial goals sooner. Peter also manages his own multi-million dollar rental property real estate portfolio which he co-owns with investors. Unlike many financial advisors, Peter uses a global approach to investing and puts money where his mouth is by personally using many of the strategies he advises his clients on. |
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