Dear Reader, Are you and your spouse all set to enter your new life of retirement? In that case, you know the importance of a good financial plan that can act as your primary source of income, since you do not enjoy a regular salary anymore. In case you have put in some money into your retirement, you may have adequate resources to sustain yourself. But if the house is essentially the major part of your net worth, what is the solution? Here are three reasons for choosing a... [read more]

Make this year the year of finance by improving your financial direction from the start! Even if you are living paycheck-to-paycheck, a few changes to how you spend and look at money can make all the difference.   It’s never too late to start again and reverse course! Here are a few simple ideas to get you started:   Create a Budget: In order to stop living paycheck-to-paycheck, you need to know where that paycheck is going. Creating a budget is simple with... [read more]

In Canada, various programs are available for first-time homebuyers, with the aim to help make buying your first home easier.  RRSP Home Buyers’ Plan If you haven’t purchased a home within the last four years (or lived in a spouse’s home in the same timeframe), you may qualify for the RRSP Home Buyers’ Plan. With this plan, you may borrow up to $35,000 tax-free from your RRSP to fund your down payment. Just keep in mind that the money must be in your RRSP... [read more]

Are you considering listing your house or condo for sale? Obviously, the seasons tend to play a crucial role in the business of the real estate market. When the weather is nice, the real estate market usually booms, as buyers spend a lot of time touring open houses and finalizing shortlists. A lot of markets become slow in the winter. However, buyers do not disappear completely.     This article discusses why selling your home in the winter is better than waiting for the... [read more]

One of the sure-fire ways of making extraneous amounts of money is through investing… Not just by investing in a single asset. But by investing and reinvesting in more than one income resource. So if one asset doesn’t make you money, the others would. When your resources start to make profits over their investments, it’s commonly called passive income. Passive income is a way of generating multiple income streams with little investment. Passive income... [read more]