When looking to purchase a home you need to determine first and foremost what you can afford. Many people erroneously think all they need to do is go to the mortgage lender, apply for the maximum mortgage they can be approved for and then look for a house to meet their approved value. This is certainly where you start, but it is only the first step.
How do we put a price tag on the value of long term financial advice?
Amidst the economic fall out of the Covid-19 pandemic, the Canadian government announced a 25% reduction in RRIF minimums as part of a multi-billion dollar relief package.When you are in a RRIF, you are mandated to withdraw the minimum amount required by law each year. In this scenario, when the market drops drastically the RRIF payment you receive equates to you selling that portion of your portfolio at a low.
We can feel bombarded with responsibilities screaming for our attention daily. Worries of not having a financial plan with RSP and/or TFSA investments can loom in the background. Sometimes the thought of climbing a mountain seems overwhelming but the thought of taking just one step is manageable. Focus on taking the first step.
We have happily settled into our new location over the past several months, and we have now completed our exterior building renovations over the last several weeks.
I can’t begin to describe how his unexpected death has devastated our family, but I’m sure those of you who have been through the loss of a family member will understand.
Starting a business is not for the faint at heart. Some say, an entrepreneur is someone who jumps off a cliff and builds a plane on the way down.