Guest post from Tricia French, MSc, PHEc A Reverse Mortgage is a means for homeowners to access a portion of the stored value of their home to use today, while still retaining ownership of their home. In effect, converting the equity to cash, which can be received as a lump sum, regular payments, or a…
Category Archives: Debt
How much debt is too much?
My colleague Tricia French and I are working on a writing project together and I felt strongly that this information must be shared because of the debt crisis that his happening. Many lenders will treat the amount of debt you can afford like a math problem. Lenders use two ratios to determine the amount of…
What would you do with extra cashflow?
One of the questions I get a lot is what people should do with extra money, whether its $100 or $1000 or more? Is it better to buy RRSPs or pay down debt? Should I put some in the TFSA or or just keep it in savings? Am I better paying down the mortgage or…
Debt has become big business
There was a time when paying down your debts was good, prudent financial advice that came from the banks, other financial institutions and advisors. It seems times have changed as I am getting more stories of people who are encourage to take on more debt as opposed to less debt. Maybe this is part of…
Debt might be a good reason not to save
A recent study by Royal Bank is showing that Canadians are having tough time saving money. Over the past 2 years 46% of people have stopped or reduced savings only 12% have increased savings 38% of people are not saving money only 33% are saving regularly. 55% of Canadians find it is hard to be…
The best retirement plan is to be debt free
In my retirement workshops, I always ask my participants to share with me their most pressing questions about retirement. One of the more common questions I get is “Do I need to be debt free in order to retire?” There was a time when this question did not get asked because it was simply assumed…
