Archive for April 2007
April 2007 Net Worth Update (+3.53%)
It’s time again for my monthly net worth update – The April 2007 edition. I’ve been asked by a reader on why I include my cash accounts in my net worth. The cash amount is the bare minimum that we keep in our accounts, even after paying all our bills at the end of the…
Read MoreRequired Down Payment Reduced from 25%->20%!
The Canadian Government has introduced legislation that will reduce the mandatory amount that home buyers have to put down on a home to avoid the expensive CMHC fees. Home buyers can now put down 20% instead of 25%. Here is the article from The Globe and Mail: …Canada’s big banks are applauding new legislation that…
Read MoreFirst Time Home Buyer – Down Payment & CMHC
To continue on with the First Time Home Buyer series from last week, I’d like to talk a little about the down payment required for the first time home buyer. There are many options available in Canada for down payments, but the general rule of thumb is, the higher your down payment, the less you…
Read MoreReader Comment: RRSP vs. Mortgage
Ed Rempel has an interesting point of view on the debate: RRSP vs. Mortgage. I thought that many of his points were valid and should be shared with you. I’ve run many scenarios of RRSP vs mortgage over the years and have found the main determining factor is a huge surprise. The top 3 factors…
Read MoreFirst Time Home Buyer – Qualifying
I got an email from a young graduate the other day regarding obtaining a mortgage for the first time home buyer. I thought that it was a great idea for a post. I guess that some of my posts come across as those for the financially literate, and I don’t have much for those just…
Read MoreThe 4% Retirement Withdrawal Rule
How many of you have heard about the 4% retirement rule? I suspect that those who have looked into retirement have come across this rule in one way or another. What is the 4% rule? The 4% rule is the percentage of your portfolio that you can withdraw / year while keeping the balance intact.…
Read MoreUsing the Smith Manoeuvre: My Scenario
As promised, I will be discussing my personal scenario regarding using the Smith Manoeuvre. The spreadsheet provided by Cannon_Fodder was a great help and reinforced in my mind the power of smart tax planning. Anyways onto the good stuff. Spring is here which means my wife and I are on the house hunt. With this…
Read MoreSmith Manoeuvre Calculator/Spreadsheet
Smith Manoeuvre Calculator/Spreadsheet for Excel By now, most people here know that I’m interested in the Smith Manoeuvre. If you are new to this concept, you can read more about them in my article “Mastering The Smith Manoeuvre“. From surfing the web researching the Smith Manoeuvre, I discovered a great thread on RedFlagDeals.com that talks…
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