For example, if you are incorporated as an S or C-corp in the US, it might be more tax-efficient to pay yourself a small but reasonable salary, then take out more money through dividends. The important thing to note is to pay yourself legally. For example, in the US, outside of a...
If you receive a year end bonus, gift or a substantial refund from a Registered Retirement Savings Plan (RRSP) making an additional mortgage payment with this money can be an effective method of reducing your mortgage over both the short & long-term. Even $1,000 year paid over the life o...
The downside of an all GIC approach is inflation – if you’re just treading water at 2-3 percent then you’re going to need to save a lot more money than if you were potentially earning 6-8 percent in the market. The idea seems counterintuitive until you look at the data. Actual in...