CMHC (Canada Mortgage and Housing Corporation) issues mortgage loan default insurance. They recently announced an increase to the premium rate for homebuyers with less than a 10% down payment. This video shows you how the increase will affect your bottom line.
In Toronto, a typical move from a $500,000 home to a $700,000 home may actually be north of $60,000 in costs you’ll never recover. But that same move in a city in Alberta may be less than half of that. It’s amazing how much of a variance there is depending on where you live.
If you want to play with the variables, you can take a look at an excel spreadsheet I created here. You can modify the price-to-rent ratio, forecast real estate and investment portfolio returns, tax rates, realtor commissions, and more. You can even model non-linear returns. In other words, what *could* happen if there was a […]
The First-Time Donor’s Super Credit helps increase existing tax savings for making charitable donations0
This videoscribe originally appeared on The Globe and Mail’s website. Click here for the description.
This videoscribe originally appeared on The Globe and Mail’s website. Click here for the description. In a nutshell, the video shows you a sample calculation of how to compare online prices from US websites to shopping locally. There is more than just the exchange rate to factor.
This week, we’re taking a look at the very basic description of a Defined Benefit pension plan. These are sometimes referred to as DB plans, or DBPPs. The other main type of pension plan is known as a Defined Contribution pension plan. A newer type of pension plan is the “shared risk” model, also known […]
We’ve all been offered a payment vacation or holiday on a credit card or mortgage statement. But just like real holidays, they come at a cost.
In 2013, I was invited to give a TEDx talk at TEDxUTSC. My overall theme was that we need to start hating consumer debt again. I feel we’ve become much too comfortable with it in general. I start by looking at looking at income over a lifetime, expenses over a lifetime, and then how much […]