Entries by Mike Erickson
Financial Stress Test: New Mortgage Rules Take Effect January 1, 2018
As some of you may know, there have been some imposed changes that will decrease our borrowing power when it comes to purchasing a home. As of January 1, 2018, you will need to qualify under more stringent rules in order to get the mortgage you desire. Assuming all other factors remain unchanged, once the […]
Things to Think About When Purchasing a Home
In the competitive market we face today, purchasing a home can be a daunting task. There are a few things to be aware of that can help make it a little less daunting. The First Time Home Buyers Plan and some new advantages that were recently introduced by the Provincial Government help soften the blow. […]
Mortgage Insurance vs. Life Insurance – What am I Actually Covered For?
If you have ever purchased a home or applied for a loan, you may be familiar with Mortgage Insurance. This is the insurance the bank is obligated to encourage you to take in the event you die or become disabled. It is intended to protect your loved ones from being stuck with the mortgage in […]
Vancouver Real Estate vs Stock Market
Would you be surprised to learn that the stock market has out performed real estate in Vancouver over the last decade? According to the MLS Home Price Index , which began collecting data 11 years ago, real estate prices throughout the greater Vancouver area have grown on average from 100bps in January 2005 to 187.75bps […]
Will Generation Y Ever Retire?
For most Millennials, the thought of retirement can seem like light years away. While a lot can and will happen between now and then, ignoring it or putting a plan on the back burner is a major mistake. In a constantly evolving society, Generation Y faces unique challenges compared to those faced by previous generations. […]
To Split or Not to Split
To Split or not to Split…That is the question. Income Splitting Strategies So what is Income Splitting, and who is eligible to quality for the benefit? Income Splitting is a way for families to split up their income so that if one spouse earns more than the other, the higher-earning spouse can allocate some of […]
Get PAID while you wait. The Power of Dividends.
The way we look at it, if you’re going to own something you might as well get paid for owning it. The more things in life that can produce cash flow, the closer you will be to subsidizing your income as we prepare for retirement. Take real estate for example – you own a piece […]
Superhero or Superhuman?
Unfortunately, unlike many of our childhood heroes, we aren’t invincible… we can’t all be Superman or Batman, yet we still pretend like we are. The thought of an injury is the last thing that’s on our mind; yet we still have no problem helping a friend move, playing sports on the weekend, or doing chores […]