Successful Retirement Planning Archives - The Personal Mortgage Group

Expanding Real Estate Portfolio, First Time Home Buyer, In the News, Philosophy on Financial Wellness, Planning Your Move, Self Employed, Successful Retirement Planning

How To Cope With Rate Hikes: The PMG’s Advice

With inflation numbers coming in higher than expected fuelled by a number of factors including supply pressures, lockdowns in China and even the war in Ukraine, the BoC has committed to increasing their rate very aggressively until they have achieved their “neutral rate”. The neutral rate is defined as: “the policy rate that will allow the economy to operate at its full potential while keeping inflation at or near the Bank’s 2% target.” This number is typically in the 2% – 3% range. For variable rate holders, this could mean another 1.50% increase over the next year. So, although the pace of increases has accelerated, we are sticking to our advice from the...

The Mortgage-Free Myth

Planning a Happy Retirement – for young people starting out. The Mortgage-Free Myth All too often people make a major mistake early on in their lives that will sorely affect their retirement years later. They try to pay out their mortgage as fast as they can...

Successful Retirement Planning

The PMG Podcast

DEBT SERVICING How much debt is okay? More importantly, how much should I spend each month on paying back my debts? The answer to that question is the key to a healthy financial life. If you spend all of your income on paying off debts, you might not save enough (or...

Home Away From Home, In the News, Successful Retirement Planning

Suzanne quoted in recently published CBC Hamilton Article

In an article published over the weekend, our very own Suzanne Boyce was quoted as an expert to comment on the current hot housing market in Hamilton and how Qualified Appraisers and hopeful Home Buyers aren’t necessarily seeing eye to eye on purchase price....

In the News, Successful Retirement Planning

Market Update Stephen Poloz Governor Bank of Canada Sound clip

Dear Clients, We always touch on where the overnight lending rate is going – that’s obviously a major function of these emails. This week, we hit the jackpot: Stephen Poloz, Governor of the BOC, did an interview on CBC’s The Current, providing some...

Financial Tune Up, In the News, Successful Retirement Planning

Break Free: 5 ways the bank ties you down

Have you ever had someone at your local bank branch offer you life insurance? Did they ever offer you a line of credit out of the blue? Undoubtedly, at some point they have asked you about your mortgage… Banks have evolved over the years to include all kinds of...