John Ponto |
Perhaps the most encouraging outcome of the latest recession is the increasing emphasis on debt reduction by most Canadians. We are borrowing less and saving more, and, hopefully, developing some more frugal habits that can lead to healthier finances in the future. Still, many people continue to struggle with their debt.
Most people would argue that living in a digital world, with instant access to an endless stream of information has made us smarter and more self-empowered than past generations. Investors believe that it has “leveled the playing field”, enabling them to make investment decisions based on the same information once only available to the investment pros.
The one thing of which we can all be certain of, is change. Life happens every day and, as a result, we are constantly assessing our situation and changing our course, usually by making small adjustments. A life insurance purchase is one of the few decisions we make with a more long-term perspective.
Buying a home can be overwhelming, especially when thinking about how to afford a down payment. The good news is, as a Canadian resident, you have some options for financing your new home. If you’ve contributed money to your Registered Retirement Savings Plan (RRSP), you may be eligible to use those funds to purchase a home with the Home Buyers’ Plan (HBP).
Although whole life insurance, in its present form, has been around for over a century, it remains somewhat of an enigma for people who want to buy permanent protection, especially as new forms of life insurance have sprung up around it over the last several decades.
The Canada Pension Plan (CPP) is a retirement benefit available to most working residents of Canada. With the exception of Quebec residents, who have the Quebec Pension Plan instead, Canadians make mandatory contributions to the CPP on a pay-as-you-go basis throughout their working careers. To qualify for CPP payments, you must be over the age of 60 and must have made at least one valid contribution. While benefits are available from ages 60 to 65...
These are truly remarkable times in the mortgage industry. Mortgage rates are still at their lowest point in more than 50 years presenting homeowners with a once-in-a lifetime opportunity to lock in rates while they’re at or near the bottom. No one can say for certain whether rates can or will drop even further, but what is certain is that, at some point, they will go up.
John Ponto |
Car ownership is necessary for many of us to get around, especially for those who live far from public transportation. While you may choose to drive something practical for your everyday commute, errands and travel, you probably have dreams of driving a car that’s fun, sporty and luxurious. Owning an expensive luxury or exotic vehicle may seem out of reach, but there are financial options available to make your dream a reality. Here are some...