What Happens When You Pay Off Your Mortgage in Canada?

Depending on where you are in your mortgage repayment arrangements, paying off a mortgage in full in Canada can be fairly straightforward. However, if you have a large balance and a term and amortization period, you will probably incur penalties when you pay off the entire mortgage.  What happens when you pay off your mortgage […]

Canadians Ask: Should I Pay Off My Mortgage or Invest?

Paying down your mortgage and investing are both important goals; however, combining long-term investing and paying down your mortgage can offer the highest financial return. Surprised? Most people are.  Let’s first look at how a simple long-term investment can outperform mortgage-interest savings. Then we’ll examine the benefits of paying off your mortgage and investing. We’ll […]

How Does a Reverse Mortgage Work in Canada + How to Avoid Needing One

A reverse mortgage allows Canadian homeowners who are at least 55 years of age to borrow money against the equity they’ve built in their homes. Increasing numbers of homeowners who find themselves “house rich but cash poor” are attracted to the idea of freeing up some of the money they’ve invested in a home, especially […]

How to Pay Off Your Mortgage Faster in Canada

Buying a home is one of life’s most significant financial decisions. After all, a mortgage may be the largest loan you ever make. So how can you pay off your mortgage faster? The Fastest Way to Pay off a Mortgage How To Pay Off Your Mortgage Faster When You Renew Factors to Consider Before Paying […]

Myth #4 – Investment Growth Rate Must Equal Borrowing Rate

Welcome to the fourth in a series of articles that will bust the myths and misunderstandings held by many Canadians – homeowners and financial professionals alike. If you’re new here, the first thing to know is that The Smith Manoeuvre is a financial strategy which Canadian homeowners can implement in order to: 1) significantly reduce […]

Myth #2 – The Debt Swap is The Smith Manoeuvre

Welcome to the second in a series of articles that will bust the myths and misunderstandings held by many Canadians – homeowners and financial professionals alike. If you’re new here, the first thing to know is that The Smith Manoeuvre is a financial strategy which Canadian homeowners can implement in order to: 1) significantly reduce […]

Myth #1 – The Smith Manoeuvre is a Leveraging Strategy

Welcome to the first in a series of articles that will bust the myths and misunderstandings held by many Canadians – homeowners and financial professionals alike. If you’re new here, the first thing to know is that The Smith Manoeuvre is a financial strategy which Canadian homeowners can implement in order to: 1) significantly reduce […]

Looking To Get Invested But Don’t Have The Cash?

Ask a wealthy Canadian when the best time to invest is and they’ll likely answer, “When you have the cash.”  However, that is easier said than done for most.  We want to be invested but considering the government takes around half our paycheque in taxes, the high cost of a mortgage, and the fact that […]