It’s been another banner year for real estate in the Greater Toronto Area. The average price for all property types sold in the GTA came in at $729,922 in 2016 – that’s an increase of 17.3 per cent from 2015.
Reverse mortgages can be a costly way to use your home’s equity – but what about when they’re the only option? This dilemma was faced by our retiring couple case study. Read on to see how they addressed their income issue.
Are you set up for high interest savings? As economists call for a rate increase over the next year, savings consumers could see a bump in their returns. Here’s what you should do now to avoid high-rate fallout – and even benefit from a central rate increase.
Downsizing to a smaller home or condo can be an effective way to free up equity, but it’s not always the right route. If you’re a boomer looking to cut corners, but can’t bear to part with the family home, consider these options.
Many Canadian boomers are considering trading the family home for a compact condo to cut living costs. There’s a lot of money to be saved by downsizing – but be aware of your changing financial strategy and insurance needs as well.
It’s the great Canadian dream – retire as early as you can and kick back to enjoy your golden years in relaxed style. For many Canadians, though, this simply isn’t a reality – and as pension possibilities dwindle, many are on their own when it comes to saving for their senior years. We’ve got a few ways to help cut corners – and make the most of your post-pension finances.