Posts by Jason Heath
Could A Line Of Credit Impact My Mortgage Application?
The article “Could a line of credit impact my mortgage application?” was originally published in MoneySense on November 16, 2021. Line of credit payments and other non-mortgage debt are factored into mortgage affordability calculations. Here’s what you need to know before filing your mortgage application. Prospective house hunters and those looking to refinance an existing…
Read MoreShould You Take RRSP Withdrawals To Pay Down Debt?
The article “Should you take RRSP withdrawals to pay down debt?” was originally published in MoneySense on November 9, 2021. Photo by Mikhail Nilov from Pexels. With a partner out of work, this reader is considering a RRSP withdrawal to try to reduce her mortgage payments. Should she? My husband is not working, and I…
Read MoreSurging Real Estate Wealth Is A Golden Opportunity For Some To Accelerate Retirement Plans
The article “Surging real estate wealth is a golden opportunity for some to accelerate retirement plans” was originally published in Financial Post on November 2, 2021. Photo by Max Vakhtbovycn from Pexels. Some British Columbia and Ontario residents could do downsizes of $1 million or more and live in comparable homes Real estate prices across…
Read MoreHow To Draw Money Out Of Your Corporation In Retirement
The article “How to draw money out of your corporation in retirement” was originally published in MoneySense on November 2, 2021. When you have money saved in a corporation, retirement planning can be a little more complicated. But it can be done. Incorporated business owners can sometimes be unsure of how best to decumulate, drawing…
Read MoreAffordability Tips For First-Time Home Buyers To Securing A Mortgage
The article “Affordability tips for first-time home buyers to securing a mortgage” was originally published in MoneySense on October 28, 2021. Photo by Jessica Bryant via Pexels. Irene and her partner want to buy a house with savings, some help from her dad and a mortgage from an alternative lender. What are the implications? Q. My partner…
Read MoreReasons To Consider Early RRSP And RRIF Withdrawals
The article “Reasons to consider early RRSP and RRIF withdrawals” was originally published in MoneySense on October 19, 2021. Photo by Mikhail Nilov from Pexels. I get a lot of reader-submitted questions about early RRSP and RRIF withdrawals and how much to take out. Here is a primer. Workers contribute to their registered retirement savings plans (RRSPs)…
Read MoreJoint Tenancy Vs Tenancy In Common in Canada: Changing Ownership Of Assets For Married And Common-Law Partners
The article “Joint tenancy vs tenancy in common in Canada: Changing ownership of assets for married and common-law partners” was originally published in MoneySense on October 14, 2021. Photo by cottonbro from Pexels. The tax implications of changing land owned jointly as tenants in common to joint tenancy with right of survivorship and how to…
Read MoreHow Much To Take Out Of Your RRSP In Your 60s
The article “How much to take out of your RRSP in your 60s” was originally published in MoneySense on October 4, 2021. Photo by Marcus Aurelius from Pexels. Although RRSP withdrawals can be deferred no later than age 72, it may be necessary or advisable to make withdrawals before then. Many retirees have the bulk…
Read MoreHow To Figure Out Your Investment Fees
The article “How to figure out your investment fees” was originally published in MoneySense on September 28, 2021. Photo by Andrea Piacquadio from Pexels. John is unclear about what he’s paying his advisor, and cannot seem to get a straight answer. Q. I was wondering why there is no accounting in my statements for the money…
Read MoreFinancial Gifts: What You Need To Know Before Giving Money Or Investments
The article “Financial gifts: What you need to know before giving money or investments” was originally published in MoneySense on September 21, 2021. Photo by Marcus Aurelius from Pexels. We humans are wired for generosity: we feel joy and satisfaction when we give to others. What may not be as natural is to consider the potential…
Read MoreWhat To Expect (Financially) When You’re Expecting
The article “What to expect (financially) when you’re expecting” was originally published in Financial Post on September 20, 2021. Photo by Kristina Paukshtite from Pexels. New parents have a lot to learn and these financial considerations can help families feel a bit more prepared. I am a father of three from a family of three…
Read MoreHow To Avoid OAS Clawback When You’ve Had A Temporary Increase In Income
The article “How to avoid OAS clawback when you’ve had a temporary increase in income.” was originally published in MoneySense on September 14, 2021. A one-time bump in Sam’s income triggered an Old Age Security benefit clawback, and he wants to know if there is a remedy. Q. I liquidated a large mutual fund in 2020…
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