News, Views and Trends!
Hopefully you read Part One of this article where I discuss the Canadian government’s delusional (and incredibly damaging) immigration strategy. With no meaningful plan to absorb 500,000 newcomers per year, we’re looking down the barrel of a number of crises to come: a jobs crisis, a healthcare crisis, an infrastructure crisis, and of course, a housing crisis.
Continue reading “Population Crisis Part 2: The Good News”
Yesterday, the Bank of Canada raised their rate by a whopping 1%. It’s the biggest rate hike in a long time, and it’s got a lot of people talking. Mostly negatively (surprise surprise) but I for one have no interest in talking about what you can’t control. Instead, I want to talk about what you can control. There’s a way you can capitalize on a rare opportunity to grow your net worth over time, and it runs contrary to everything you’re hearing on the news:
Buy real estate.
Continue reading “The Right Time To Buy Is Right Now”
There are some things in life you can’t avoid, but only two things you can’t avoid paying for: taxes and interest payments. In Part 1 of this series, we looked at owning a rental property as a great way to build your net worth while reducing your taxes. Now, in Part 2, we’ll be turning to interest payments.
Interest payments are a pain to deal with but a necessary evil nonetheless. Here are a few ways to make them a little less painful.
Continue reading “Death, Taxes, and Interest Payments: Part 2”
“Nothing in this world is certain except death and taxes.”
Benjamin Franklin said this in 1789, and it’s just as true now as it was then. There’s just one thing I’d add given that the world has changed quite a bit since the 18th century: interest payments. Maybe not as certain, but just as stressful. If I could revise the quote now, I’d make it:
“Paying interest and taxes will be the death of us.”
Continue reading “Death, Taxes, and Interest Payments: Part 1”
Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.
The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend as needed. Many successful investors have been doing this for decades. Borrowing to invest makes smart financial success. Don’t let anyone tell you differently.
We’re seeing more reasons for Canadians to get a secured line of credit now: Age; Income; and Qualification.
Continue reading “My advice is simple: Over 50? Get a secured line of credit while you can qualify.”
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