Reverse Mortgage: Definition and Advantages

A reverse mortgage is a type of home equity loan that is most effective for Canadian citizens who are aged 55 or more. The reverse mortgage is very much similar to a second mortgage, and basically is a loan that you have secured against your home’s value. Reverse mortgages provide homeowners with the ability to…

Tax Free Savings Account

The Tax Free Savings Account (TSFA) is a savings account available in Canada, which promotes tax savings. Dividends and capital gains are usually what the Tax Free Savings Account is utilised for. The TFSA usually has income that is left over from savings. This income is non-taxable, even if it is withdrawn for personal purposes. …

Differences Between a RRSP and TFSA Account

A TFSA and RRSP accounts are two different types of savings account that the Canadian government offers to its citizens, to allow them to save for various needs and requirements throughout their lifetime. However, these two accounts vary from each other in terms of limit, tax deductibility and withdrawals. While the RRSP is an old…

Shadow Lending in Canada

As time passes, more and more Canadians are falling prey to the credit market, and are spiraling more towards debt. This is causing a sort of crisis in the economy, with banks and other money lenders becoming more conservative by the day. Credit scores are increasing, and reports of your payment history is scrutinized more…

Advantages of Investing in Bonds

Bonds are clearly more advantageous that other forms of securities and this is true for even the Canadian market. Bonds, especially those that are medium or short dated bonds, have less volatility when compared to equities (stocks). Therefore, it is right to assume a bond as a safer investment as compared to a stock. Moreover,…

Benefits of Investing in Bonds in Canada

Canada can be considered as one of the safest countries in the entire world owing to their robust natural resource base, stellar policies, stable monetary policies and the presence of a low-budget deficit. If you are considering investing in bonds, Canada is the ideal country to do so. Some of the benefits that make Canada…

Tax Saving Methods for Canadians

In Canada, at least 49% of the population is living under some sort of crippling debt. There is hardly any Canadian who does not have a debt. This debt gets even worse, when put together with the 15% to 29% tax bracket that each working Canadian has to pay. If only there was a way…

Equity Loans

An Equity Loan is also referred to as a Mortgage Loan. Typically, this loan is secured by real estate that is already owned by the borrower. For example, if you brought a home for a sum of money, and do not have a mortgage on it, they may take a loan on their house, in…

Guaranteed Investment Certificate

A Guaranteed Investment Certificate is a scheme offered by Canadian Banks and other money-lending places like trust companies. In this, there is a ‘guaranteed’ return on your investment, given to you at a fixed, stipulated time. This period of time could vary depending on a variety of factors, such as the income that you earn.…