Archive for September 2012

5-Year Fixed Mortgage Trap (Video)

Number 3 on our list of things on which Canadians waste the most money is 5-year fixed mortgages. They are marketed as being safe and a good protection against a sharp rise in interest rates. The reality, though, is that they are nearly always a huge waste money, they limit your flexibility and result in…

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Clawback Strategies

In Canada, government benefits are often paid only to those with lower incomes and then “clawed back” based on your income. Clawbacks are really additional income tax. Understanding clawbacks is a critical part of knowing whether to invest in RRSPs or TFSAs. The correct answer depends on your tax bracket while working compared to your…

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