It’s a common question asked by homeowners who have extra cash: should you use it to pay off your mortgage or put it aside for retirement? Is there a right or wrong answer? How to make the most of your money? An expert says there is a strategy you can use technically do both.
Protecting Against Elder Financial Abuse
Regulators warn of a potential increase in financial abuse of older adults as Canada’s population ages. Although some securities regulators have put in place recommendations and additional measures to help prevent the problem, it is still largely up to individuals to protect themselves and their loved ones. Personal finance columnist Dale Jackson says there are a number of things older people can do now to make sure they don’t become a victim.
How to Create a Successful Side Business to Help Cover Rising Costs
Canadians are increasingly turning to side hustles to earn extra money as the cost of living soars. BNN Bloomberg’s Iva Poshnjari spoke to several entrepreneurs about how they juggle their full-time jobs on top of a side hustle and some of the lessons they’ve learned along the way. They also offered advice on why it’s so important to set realistic expectations and manage the financial burden of running a new business.
Make sure your boat purchase goes smoothly
As summer approaches, some people might be looking to buy a boat to spend more time on the water. Experts say how you will use the boat, financial commitments and your lifestyle should be taken into account. Ownership costs can extend far beyond just price – gas, storage, maintenance and insurance are all part of the financial deal when owning a boat. Here is how to make sure your choice is right for you.
Health Check of Housing Markets in Canada
Canadians received a flurry of housing market updates this week. Most data points to a sharp decline in business activity. the Greater Toronto, Greater Vancouver and Montreal Markets all saw double-digit declines in sales as higher borrowing rates took hold. There was at least one major market that bucked the trend. Calgary Home Sales reached a record level for the month of April.
The only detached house in the Toronto area that sold for less than $100,000
Have you ever wondered what it would be like to live in a caboose? Data from the area’s real estate board showed there was one single-family home that sold for $45,000 in April — a renovated century-old three-room caboose. Although it has a shingle roof and new insulation, the structure itself is not connected to any running water or sewer lines. Details and pictures can be found here.
“The market had to pull back and recalibrate for value, but the wickedness of the move is really the story du jour.”
– Traders weigh in on the extreme market volatility following the US Federal Reserve’s decision to raise rates this week.