Saturday, August 15, 2015

Short Takes: Home-Buyer’s Plan Boost, Shifting Financial Goals, and more

I haven’t written much during the past two weeks because I’ve been volunteering to help run the Canadian Little League Baseball Championships. It’s amazing how well some 12-year olds play baseball. But I did manage one post:

Your Retirement Spending Plan is Critical

Here are some short takes and some weekend reading:

Canadian Mortgage Trends reports that the Conservative government is proposing to increase the amount you can withdraw from your RRSP for the Home-Buyer’s Plan from $25,000 to $35,000.

Frugal Trader at Million Dollar Journey gives his financial update a year after reaching his goal of being a millionaire.

My Own Advisor says we don’t need the Home-Buyer’s Plan (HBP) for using RRSP money for a house down payment any more. I think the HBP can be part of a sensible plan to reduce CMHC fees and reduce overall portfolio risk, but only if the mortgage payments plus HBP repayments are sensible relative to total income. Using the HBP to afford a more expensive home is usually a bad idea.

Big Cajun Man examines the decline of defined-benefit pension plans in Canada.

Boomer and Echo offer some advice on saving money through negotiation.


  1. Thanks for the mention Michael - good on you and your volunteering!

  2. Thanks for the mention, and yes, good on you for your community service.