Why paying off your mortgage is a smart move
It’s time to pay off your mortgage, writes Peter Watson. For many years historic low interest rates encouraged people to borrow. Those days have passed. Depending on your mortgage details, your interest rate has already increased or likely will soon. Paying off your mortgage is a good idea, especially before you retire. During retirement your […]
Past Tax Strategy is a Possible Solution to Provide More Residential Rental Units
There is a potential solution for Canada’s current lack of residential rental units, writes Peter Watson. It is an idea that was used in the 1970s when there was also a shortage of rental supply. Offer individual investors tax incentives. Decades ago, the top tax bracket was slightly over 50%, the same as it is […]
Time is running out to improve Canada’s debt issues
Focusing entirely on the dangers of mounting household debt is a disservice to our country, writes Peter Watson. Over a few short years, housing mortgage rates have doubled, or more. This has caused a significant hardship for many homeowners. Many people might not be able to keep up with mortgage payments and are at risk […]
Is the Cost of Post-Secondary Education Worth it?
Postsecondary education is expensive, and families must make the decision whether it’s worth it, writes Peter Watson. The financial decision to spend money on a child’s postsecondary education can have major implications for a family’s finances. For many families, the dream their children will go to university is strong. And there are many advantages. Your […]
The environment is our greatest financial challenge
The greatest financial challenge we have left our children is the environment, writes Peter Watson. The challenge will be met, they typically are, but at what cost? Things will get worse before we are motivated to find solutions. There are two stories that have flooded the news in recent months. One is watching our neighbour […]
Who will make financial decisions for you?
Financial decisions can be difficult to make. Imagine how difficult they are if you lack mental capacity, writes Peter Watson. One aspect of estate planning is having a power of attorney for property. That allows you to select someone you trust to make those important decisions is you lack mental capacity. Financial decisions can include […]
Investment Advisor Awards May Mislead Clients
When you attempt to evaluate the quality of an investment advisor, are you influenced by special awards they have achieved? If so, be careful, writes Peter Watson. Some of these awards are not based on investment or financial planning proficiency. They are based on sales production or how much money an advisor manages. The Ontario […]
Financial procrastination affects how we manage our personal finances
Today, let’s talk about financial procrastination, writes Peter Watson. It is not a matter of scolding yourself when human characteristics interfere with the way you operate. Accept the fact that people do things a certain way. If you choose, try and develop personal strategies that can lead to better results. As you read this article, […]
Does Working During Retirement Interest You?
Your plan during retirement could be to get a job, writes Peter Watson. The conventional retirement age has been 65 for many decades. However, things have changed. Life expectancy has increased, therefore the number of years spent in retirement could be much longer than in the past. Continuing to work has many advantages. If you’re […]
Summer Travel Spending is Down
It is no surprise that Canadians plan to spend less money travelling this summer, writes Peter Watson. One of results of the Bank of Canada aggressively increasing interest rates over the last two years is to force people to spend less money. Plus, because of inflation, most things cost more so there is less money […]