Jason Heath
Financial Advisor and Personal Finance Columnist at Freelance
Consulting Editor at MoneySense
Fee-only/advice-only financial planner. #PersonalFinance columnist @FinancialPost, @MoneySense, @RetireHappyBlog, @CdnMoneySaver. #retirement #FinancialPlanning
Articles
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3 weeks ago |
moneysense.ca | Jason Heath
Ask a Planner Real estate equity is a big part of seniors’ net worth. Some Canadian retirees may want or need to use their home’s value to help fund retirement. Here’s how. How much of your net worth is wrapped up in your home? According to Statistics Canada, the median net worth for senior families in 2023 was $1,109,700. The most common type of asset for Canadians was a family home, with a median value of $500,000.
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1 month ago |
moneysense.ca | Jason Heath
Ask a Planner Many pre-construction condos bought in recent years, especially in Toronto, are now worth much less. If you can’t close on your condo, here are your options. Canadian home buyers and investors who bought condos a few years ago are now finding their property values on closing are below their purchase prices. This is not a situation that many envisioned when they bought their pre-construction condos during the post-COVID frenzy.
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1 month ago |
moneysense.ca | Jason Heath
Ask a Planner If you have tax-free savings accounts in Canadian and U.S. dollars, here’s how to avoid overcontributing. I just set up an American dollar TFSA to complement my existing TFSA. I do not know how the contribution gets calculated, and the goal is to not overcontribute with the sum of these. —MichelleAn investor can open more than one tax-free savings account (TFSA). There are no restrictions on the number of accounts that can be opened, either.
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1 month ago |
moneysense.ca | Jason Heath
Ask a Planner I had three meetings this past week with Canadian clients where I challenged their real estate strategies. Here’s why. Real estate investing has its merits. And certain markets have performed exceptionally well in Canada over the past generation. But sometimes, especially as you approach retirement, you should reconsider your real estate strategy. Some Canadian investors look to real estate over stocks because they perceive real estate to be a better investment.
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1 month ago |
moneysense.ca | Jason Heath
Ask a Planner The party’s platform proposals may impact RRIF minimum withdrawals, income tax and more. Here’s how Canadians can plan for the changes. The Liberals held on to power in the recent federal election, and this has tax implications for Canada’s seniors and other taxpayers—in particular, for retirees and their strategies for their registered retirement income fund (RRIF) this year and possibly in the future.
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My latest interview with the @TorontoStar: Amid Trump tariff-induced market bedlam, bonds might just be the safe harbour you need. Here's how to invest: https://t.co/VKhSVYs4VG #Investing #Bonds #FinancialPlanning
Canadians used to annual tax refunds may be surprised to owe tax and face benefit clawbacks in retirement. Read more on managing your tax withholding in retirement in my latest @MoneySense article. https://t.co/ctWxAj3QGN #RetirementPlanning #FinancialPlanning #Retirement
My latest @financialpost article: Hidden risks for Canadians planning to downsize their retirement. https://t.co/8wKy5RQ7ds #RetirementPlanning #FinancialPlanning #Downsizing #CanadianRealEstate