Mortgage Wisdom
Should You Pay Off Your Mortgage Early or Invest Instead?
For many Canadians, becoming mortgage-free as quickly as possible feels like an obvious financial goal. But I think there’s a more important question to ask first: Once your mortgage is paid off, what percentage of that former mortgage payment will you actually invest? I call this the 95% test. If you pay off your mortgage…
Read MoreRe-evaluating Canada’s Best Re-Advanceable Mortgages: The New Top 4 Post-OSFI Rankings
If you have been following my blog, you must have read about the Smith Manoeuvre strategy and its incredible uses and benefits. For those who are trying to build wealth in Canada, it is one of the most powerful financial manoeuvres available—essentially allowing you to legally convert your non-deductible mortgage interest into a tax-deductible investment…
Read MoreWorthvieW article – Why Renting Could Be Your Secret to Smarter Wealth Building: Insights from Toronto-based Financial Planner Ed Rempel
Many Canadians believe homeownership is the only real path to building wealth. If you’re renting, it can feel like you’re falling behind or missing out. After decades of working with clients and studying long-term data, I don’t believe that’s true. Renting can be a deliberate and effective wealth-building strategy when it’s approached intentionally. This article…
Read MoreMONEY PIP article – How to Make Your Home a Good Investment: Financial Wisdom from Toronto-based Financial Planner Ed Rempel
Is Your Home Really a Good Investment? Most Canadians think so. My experience tells a different story. For decades, Canadians have been told that their home is their best investment. After preparing thousands of financial plans, I’ve found that this belief often leads people to rely too heavily on home equity for their retirement. The…
Read MoreWhy Renting Could Be Your Secret to Smarter Wealth Building
Owning a home is unaffordable for many people today. Here is some good news! If you rent, you can grow your wealth as fast or faster using the same 2 ideas that benefit homeowners. Tenants have several major advantages over homeowners for wealth building. Many homeowners think their home is their best investment. But that…
Read MoreHow to Make Your Home a Good Investment
Wait. Don’t people say, “Your home is your best investment? For many people, their home may be their only major investment. For them, that old conventional wisdom might be true. But that is unfortunate. It is easy to find better investments with dramatically higher long-term returns. Despite the lower returns, homeowners on average are wealthier…
Read MoreNational Post Article: Couple wonders – Start investing or stick with rental income to build nest egg?
The National Post asked me to review the retirement plan of a blended-family couple in their 40s from British Columbia. Jennifer is 40 and Roland is 49. They live on a rural property with a hobby farm and have four children between the ages of 18 and 22. With three rental properties, $180,000 sitting in…
Read MoreSmith Manoeuvre
The Smith Manoeuvre – Is your mortgage tax deductible? The Smith Manoeuvre is an efficient strategy to use equity in your home to invest for your future without using your cash flow. It converts your mortgage over time into a tax deductible investment credit line. Most Canadians are searching for a feeling of financial security,…
Read More7 Best Ideas to Optimize the Smith Manoeuvre (Canadian Financial Summit 2024)
With its quirky name, the Smith Manoeuvre might sound unconventional, but it’s a strategy that truly works—when done by the right people, in the right way, over the long term. From crafting over 1,000 professional Financial Plans, I’ve seen firsthand how the Smith Manoeuvre can transform your finances, helping Canadians use their home equity to…
Read MoreMoney123 Article: Mortgage vs. Retirement – What Should They Do?
A married couple are homeowners who currently save $1,000 a month after paying their bills. They are wondering if they should pay down their mortgage faster or invest their savings. 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.…
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