That said, there are other options for the investor who really wants exposure to real estate investments as part of their retirement savings. And holding your assets in your RRSP may not be as good as it sounds after all.
Have a personal finance question? Move it here.
Marriage or mortgage: Which is the better investment?
Weddings can be expensive, but so can many things that come after marriage—like buying a home, starting a family, and saving for retirement. And, therefore, money is an important relationship issue even before a couple ties the knot.
Undoubtedly, young Canadians may be making their weddings more difficult by setting their wedding budgets too high. Do they trade home pay for a half-day party with their friends and family?
We tackle these and other pre-wedding considerations beyond wedding planning that engaged couples should be talking about with each other. Find out which is the best way to spend the money: the wedding or the mortgage payment.
It’s hiring vs. home ownership: Can you be financially secure without buying?
If you wonder if you’re “paying someone else’s mortgage” when you rent, you’re not alone in doubting the viability of long-term renting. The decision to buy or rent a home is a big one and the first step in making any major financial decision, including home ownership, is to evaluate your situation on its merits—that is, based on facts, rather than opinions and feelings. .
We’ve got some input that can help you uncover the emotions that may lie beneath your thinking about renting versus buying, even if you don’t know for sure. We also provide some perspective on the long-term financial implications of being a long-term renter and investing your savings, compared to borrowing money and owning a home.
Here’s a guide to help you compare the long-term savings implications of renting versus owning a home.
How to invest in down payment
Investing in a low-income fund is difficult at the best of times. Canadian, US, and international stock markets have experienced annual losses of 30% or more in the past, so going completely into stocks with the money you might need in a year’s time can see your paycheck reduced by a third. . Even a mutual fund or bond fund can lose money in a given year.
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