10. Save your tax refundIf you have been lucky enough to get some taxes back from the government — save them rather than spend them. You can absolutely do without this money, you've hardly missed it over the course of the year, you won't miss it now. This is a quick way to save...
Our first house was a 2-unit apartment where we lived in one unit and rented out the other. While it was a little work being a landlord, the rental income offset a large portion of the mortgage payment and we were able todeduct mortgage interest on taxes!). This is an example of “...
but rarely generates any additional money (also known as interest) at all. On the other end of the spectrum, a savings account is extremely inaccessible (you may have to pay taxes and/or penalties for early withdrawal) but the funds you’ve deposited in it have the potential to ...
Do you wish to rent or own? (Remember to factor in the maintenance and property taxes that come with owning.) Will you want to spend all of your year in Canada? What is your preferred entertainment budget? How much less will you spend on things like transportation, clothing, and office ...
You May (Still) Have to Pay Taxes on COVID-19 Benefits And six other things you need to know to do this tax season right. Wealthsimple Grow your money Smart investing tools and personalized advice designed to build long term wealth. ...
($760.07), that was $9,120.84 per year. That’s often not enough for most Canadians to comfortably retire. If you look at the average CPP payment for 2023 plus the maximum OAS ($756.32), you'd have received $1,516.39 per month. That’s $18,196.68 per year, before taxes. If ...
interest). The bank is always going to have enough money on hand that it can give you back what’s yours upon request. And, your money is protected. For example, with Wealthsimple Save your money is CIPF protected up to $1 million in the unlikely event that Wealthsimple becomes insolvent...
onJanuary 12, 2021 Wealthsimplemakes powerful financial tools to help you grow and manage your money.Learn more I remember when I was living in New York and I was first offered the part as Al Bundy on a new sitcom called “Married... With Children.”My agent didn’t want me to take ...