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.Evelyn Jacks: Canadians Can Control Wealth Erosion In Uncertain Times
It’s difficult to think pessimistically about the great news released mid-March about our national net worth: it increased by 2.7% to $7.7 trillion in the last quarter of 2013, following a 2.5% gain in the third quarter.
Thank You, Mr. Flaherty
On October 9, 2009 at a presentation in Istanbul, Turkey, Canada’s Finance Minister Jim Flaherty was presented Euromoney magazine's Finance Minister of the Year award for 2009.
Grad Spotlight – New Author Kevin Gebert
Kevin Gebert achieved his MFA-Retirement Income Specialist designation in 2006 and has since been actively involved with Knowledge Bureau, most recently publishing his first book, Financial Fotographs. We are pleased to have Kevin as one of our distinguished grads.
Scammers Victimize Immigrants Posing as CRA
Police in Edmonton are warning of scammers who have their sights set on one Canada’s most vulnerable groups: new immigrants.
What expenses are deductible for child care costs?
Child care expenses are claimable by Canadian residents for services provided in Canada, although deemed residents living abroad qualify as well.
Master Your Retirement: One of the Best Retirement Books in Canada
Just released in Canada, this 3rd edition of Doug Nelson’s best-selling book Master Your Retirement is receiving rave reviews.
