Borrowing to Invest Wisdom
Who Are the Wealthy and How Did They Get Rich?
As a financial planner, I’ve had a unique view into the full financial picture of thousands of Canadians and have read countless studies. My experience spans clients of varying financial backgrounds, as well as countless conversations with readers of my blog, friends, and acquaintances. Although our clients may not represent the entire population—they tend to…
Read MoreHow to Successfully Implement the Smith Manoeuvre (Podcast with Ed Rempel)
You know the basics about the Smith Manoeuvre. It’s a big decision. Here is a discussion of the big issues. Listen to my new podcast with Sean Cooper from BurnYourMortgage.ca . Here is the link: How to Successfully Implement the Smith Manoeuvre with Ed Rempel We discuss: • Why should you consider the Smith Manoeuvre?•…
Read MoreThe 6 Steps to Become Financially Independent
What will it take for you to become financially free? To have enough money that you never have to work again? This video and podcast episode is my insight into the few key ideas you really need to know. It’s an overview to give you the big picture of what really works. Some of these…
Read MoreSmith Manoeuvre or Smith Maneuver?
Why the two spellings and which is correct? This strategy (which I’m most known for), helps Canadian homeowners make their mortgages tax deductible in a simple way. What’s the proper spelling? Who pioneered this legal strategy? Does it work in Quebec? Can you use it if you live in the United States? All these questions…
Read MoreCanadian Press Article: Biggest mistakes that could tarnish, or even tank, your credit rating
Want to know the biggest mistakes that could tarnish, or even tank your credit rating? Even if you’re good with your finances, you may not realize that small actions can prevent you from getting the best interest rates on big purchases, like buying a new home. The Canadian Press recently interviewed me on this topic…
Read MoreRempel Maximum – 5 Steps to Becoming a Multi-Millionaire
Remember the show “Who wants to be a millionaire?” Are you the kind of person that wants to build some serious wealth? Live an exceptional life? Be financially free? I don’t mean just a comfortable amount. I mean a lot – like being a multi-millionaire. The truth is, average people can become very wealthy just…
Read MoreMoney123 Article: Using a Credit Line as Your Emergency Fund
Do you have a credit line? It may be a great way to provide for emergencies, instead of having cash lying around. As a financial planner for Global News’ Money123 online email newsletter, I answer reader questions about investing, managing your finances, and planning for your future. In the latest email that went out to…
Read MoreFinancial Post Article: Retired multi-millionaire wants to know pros and cons of LIFs vs. RRIFs, but he has a bigger issue
The Financial Post asked me to review the finances of a retired multi-millionaire who needs to prioritize tax efficiency, as well as the pros and cons of LIFS vs. RRIFs. In the article you’ll learn why it’s so important for someone with this amount of wealth to create a financial and retirement plan. CLICK THE…
Read MoreSmith Manoeuvre – Is Your Mortgage Tax Deductible?
What is the Smith Manoeuvre and how do you do it the right way?The Smith Manoeuvre is a strategy where you borrow against your home to invest for your retirement. It converts your mortgage over time into a tax deductible credit line.To do it the right way, there are three key points:
Read MoreInvest a Lump Sum or Bit-by-Bit. Which Is Smarter?
Invest a Lump Sum or Bit-by-Bit. Which Is Smarter? You have a lump sum of cash and you’re trying to figure out how to invest it. The stock market seems pretty turbulent at the moment, so you may be wondering if you should invest your lump sum all at once or bit-by-bit. Maybe you got…
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