New 30-Year Amortizations for Insured Mortgages
Effective August 1, 2024, the government will allow 30-year mortgage amortizations for first-time homeowners who purchase newly built homes. For existing mortgage holders who meet specific criteria, “permanent amortization relief” will be available to extend repayment periods for as long as they need to get to the number they can afford to pay monthly. It’s an extension from the 25-year mortgage amortizations previously allowed. However, this isn’t for everyone… there is a significant risk to lifetime wealth creation and must be managed with an eye to interest rates and payment terms to reduce the non-deductible interest costs.Test Your Knowledge: Top Ten Retirement Questions
What’s a qualified tax efficient retirement income planner worth? A lot, it turns out, especially to clients who want to more effectively build net worth for retirement, but also to those who are frustrated with high taxes on their pension income and the lack of freedom that comes with eroded purchasing power on their savings.
Six Key Issues In Practice Reform
The sweet spot in wealth management statistically lies with the 55 plus crowd, whose net worth is the highest in Canada, but they are increasingly elusive, spending summers at the lake, and winters in the south.
Evelyn Jacks: Retirees Need Help Understanding Public Pensions
People can retire at any age, but it is increasingly rare for people to simply go from earning income from employment or self-employment directly to withdrawing income from investments and other sources including pensions.
DAW: Still Time to Learn About Helping Retirees
There is still time to join us at the Retirement and Estate Planning Bootcamp in Calgary, Vancouver, and Toronto. Register online or call us at 1-866-953-4769 to register quickly and get all the details you need.
Defend Clients’ Retirement Savings Against Tax Erosion
Accurately prepare retirement plans that achieve the necessary results with the Advanced Tax-Efficient Retirement Income Planning course. This course marries tax and financial planning competencies and is the perfect complement to the Retirement and Estate Planning Bootcamp, September 17-22.
Four Provinces Sign On: Cooperative Capital Markets Regulatory System
The Finance Minister of Canada, Joe Oliver and the finance ministers of British Columbia, Ontario, Saskatchewan, and New Brunswick have signed a Memorandum of Agreement on September 8 to jointly establish the terms and conditions of a Cooperative Capital Markets Regulatory System, and released draft provincial and federal legislation to harmonize current legislation.
