Hey there, Real Estate Insiders! This month is all about planning for the future. Find out how to keep your pension after a job switch, whether to pay off a mortgage or invest in an RRSP, the details on the best high-interest savings accounts, how to survive bank rates until 2025, and much more. Grab a coffee and dive on in!

You Can’t Spell ‘Wealth’ Without H(ighest Return)

The sixth and final video in this series describes how to build wealth through additional dwelling units. The final—arguably most important—letter in the WEALTH Formula is “H”, standing for “Highest Return”. Watch here to learn how to generate exactly that!

Is Losing Your Pension Preventing You From Leaving Your Job? Consider A LIRA

No, it’s not an exotic pet. A LIRA is a Locked-In Retirement Account: an account you can set up if you’re moving jobs and withdrawing your pension early. The rules to a LIRA are a bit complex, so this article is a great place to start!

What is a LIRA and how should you invest in it?

Got Some Cash Burning A Hole Through Your Pocket?

You may be thinking “Should I pay off my mortgage or invest in my RRSP?”. While there are pros and cons to each, you’ll want to take a closer look at the details (interest rate, size of mortgage, etc.) to determine which is best for you.

Contribute to RRSP or pay off mortgage?

Worst Case Ontario: Housing Prices Don’t Fall

This blogger makes a case for falling housing prices and why the worst case would be that they continue to climb. Read more about why a decrease in housing prices could be a great thing for the economy.

Read: The Worst Case Scenario For the Housing Market

The Cost Of Home Ownership In Major Cities

Do you think your city is better or worse than some of there major American cities for home ownership? Read more here and let us know!

What You Need to Earn to Own a Home

The Stress Test Will Continue To Put Stress On Borrowers

One bank regulator says borrowers who switch lenders on renewal will still need to pass the “Stress Test” and qualify with rates 2% higher than lending rates. They have their reasons for keeping this in place, read more about them here.

Read: Canada’s Bank Regulator Says It Won’t Relax Stress Test On Mortgage Renewals

Canadian Pension Plan: Fully Funded For The Long Haul

Some people think the CPP won’t have enough for them to collect when they retire, but according to this blogger the exact opposite is true. Read here how well the fund has been performing and why you can breathe a sigh of relief that you will receive your fair share in retirement.

Read: What You Can Expect From The Canada Pension Plan (CPP)

High Interest Savings Accounts: Highly Interested In Which Is Best?

For all you low risk investors out there, read here for a comparison of the top 10 high interest savings accounts!

The best high-interest savings accounts in Canada for 2024

Survive Until 2025: Bank Of Canada Expected To Cut Rates Mid 2024

That is according to this CIBC Deputy chief economist. Read more about the reasoning for his prediction here!

Read: Bank Of Canada Likely To Begin Cutting Rates In Mid-2024

“The Extend And Pretend Days Are Coming To An End…”

Borrowers who think they’ve locked in a 70 year (or extended) amortization might be in for a rude awakening come renewal time. Amortizations need to be reset at renewal; if you haven’t called your lender to find out the details of your extensions, this is your sign to do so.

Read: 70-Year Amortization Periods Not Realistic: OSFI

B.C. Aims To Recognize More Foreign Credentials In Industries With A Labour Shortage—Including… Realtors?

While there is definitely no shortage of Realtors in BC (About 1 in 102 workers), including them in the legislation may be a self-serving political move. Read more about the act and how it will help the labour shortage here.

Read: BC To Fast Track Immigrants To Fix Canada’s Real Estate Agent Shortage

The Average American Is A Millionaire

Due to the top 10% of earners swaying the bar, this statistic is misleading. The median net worth is much lower, but still impressive. Read here how to preserve the “Millionaire Status” and other tips to live a life without worried about money.

Read: The Average American Household Is A Millionaire, Go USA!

Can You Blame Them? Three-Quarters Of Mortgage Holders Worry About Their Upcoming Renewals

Interest rates went from historic lows to unprecedented highs in record time, leaving many people to cut costs to help deal with higher mortgage payments. Read more about just how many people will be renewing in the next 18 months and what it will mean for their wallets.

Read: 74% Of Canadians Nervous About Mortgage Renewal Impact

Underused Housing Tax Act Applies To YOU!

Even if your real estate is not vacant and you are not a foreigner, you still have filing obligations. Ignorance is not bliss in this scenario so make sure you call your accountant before the deadline!

Read: Underused Housing Tax Act Applies to You