The one word that is critical to staying organized with your business and frankly if you were in tune with this in your personal life, you would be better off as well
Will get a few resources and future considerations in here and comments to help you tackle this critical word
Your not alone
It's more than just numbers - TLR
Principlesfrom the late 1800's
- American exceptionalism
- Classical liberalism
- Family values
- Free market
- Free trade
- Judeo-Christian values
- Limited government
- Moral absolutism
- Natural law
- Rule of law
Weekend Warriors clarion call. Will start off with this great email I got this morning from OZY Weekender, Enjoy ! Check out the comments for future ideas
Well, the headline reads like there is an increase. but it's a release, and with no increase, now let's go save in peace
"The TFSA contribution limit for 2022 has been officially released. That limit is $6,000, matching the amount set from 2019 to 2021.
With this TFSA dollar limit announcement, the total contribution room available in 2022 for someone who has never contributed and has been eligible for the TFSA since its introduction in 2009 is $81,500. " .......
Here is a link to a recent email I got on how to prep for getting a mortgage
Step 1 - Your Credit Score
Whether you qualify for a mortgage through a bank, credit union or other financial institution, you should be aiming for a credit score of 680 for at least one borrower (or guarantor), especially if you are putting under 20% down. If you are able to make a larger down payment of 20% or more, then a score of 680 is not required.
If your credit score does not meet the minimum requirements, there are a number of things you can do to improve it and your future financial success, including:
• Paying your bills in full and on time. If you cannot afford the full amount, try paying at least the minimum required.
• Pay off your debts (such as loans, credit cards, lines of credit, etc.) as quickly as possible.
• Stay within the limit on your credit cards and try to keep your balances as low as possible.
• Reduce the number of credit card or loan applications you submit.
• Considering an Alternative Lender (or B Lender) if you are struggling with credit issues.
I can help review your credit score and provide you with options for your mortgage needs.
Step 2 - Your Budget
When considering your budget, it is important to look at the purchase price budget, as well as your cash flow budget. Being house rich and cash poor makes for a no-fun home! The home price based on your cash flow budget may be dramatically different from the budget home price you qualify for. Not only does having a budget help you to understand your purchase price range and help you to find an affordable home, but it can also help you to see any gaps or opportunities for future savings. This will be instrumental when you become responsible for mortgage payments.
Step 3 - Your Down Payment
The ideal down payment for purchasing a home is 20%. However, we understand in today’s market that is not always possible. Therefore, it is important to note that any potential home buyer with less than a 20% down payment MUST purchase default insurance on the mortgage, and they must have a minimum down payment of 5%.
The down payment on your home could come from your own savings such as a savings account or RRSPs. Thanks to the federal government’s Home Buyers’ Plan, potential first-time home owners are able to leverage up to $35,000 of your RRSP savings ($70,000 for a couple) to help finance the down payment. A gift of a down payment from an immediate relative is also acceptable. If your down payment comes from TFSA or RRSP, the bank will want 90 days of statements to ensure the funds are accounted for. Gifted funds rarely require 90 days of proof.
Step 4 - Your Mortgage Options
Rate is only ONE of the many features in selecting the best mortgage product that meets your financial goals. With access to hundreds of lending institutions, I am familiar with a variety of mortgage products allowing them to help find the best mortgage for YOU! Plus, unlike banks, mortgage agents are a third-party service focused on YOUR needs. This means that you can get the best rates and unbiased advice all for FREE from someone whose only goal is helping you achieve your dream of home ownership.
Step 5 - Your Paperwork
When you apply for a mortgage, you will typically need to provide a standard package of documents, which almost always includes:
• Your government-issued personal identification
• One month of recent pay stubs from any applicants who will be listed on the loan
• Letter of employment
• Your most recent two years’ worth of personal CRA tax filings and financials (if incorporated)
• Three months of bank account statements
• Your down payment (minimum 5%)
• Documentation to explain any unusual (generally non-payroll) large deposits or withdrawals
Step 6 - Your Pre-Approval
To have the best success with your mortgage, it is recommended that you get pre-approved! This can be done through your Mortgage Professional to ensure that you get the best mortgage product FOR YOU, from the best rate to the best term agreement. Pre-approval helps verify your budget and allows your real estate agent to find the best home in your price range.
• Pre-approval guarantees the rate offered and locks it in for up to 120 days. This protects you from any increases in interest rates while you are shopping (phew!).
• Pre-approval lets the seller know that securing financing should not be an issue, which is beneficial in competitive markets!
Quick Tip: Don’t forget about the closing costs! These range from 1 to 4% of the purchase price and should be factored into your budget.
Step 7 - You’re Ready to Shop
You made it!! Once you have your down payment and have qualified for a pre-approved mortgage (your credit score is in order and all documentation has been provided), you are ready to start searching for your perfect home. If you’re stuck, I would be happy to give you recommendations for a realtor, if you don’t have one already.
Mortgage Renewal Coming Up
"When it comes time to renew your mortgage, most lenders will send you a renewal letter when there is 3 to 6 months remaining on your term. While nearly 60% of borrowers simply sign and send back their renewal without ever shopping around for a more favourable interest rate, I would urge you to take a moment to check out your options.
Most standard mortgages are on a 5-year-term, meaning the market rates could be very different from the time you initially began your term to today! Despite this, lenders tend to provide higher rates on renewals versus new clients as typically the ease of renewal will prevent you from seeking out new rates. But, with my help, finding a better rate is not as difficult as it sounds - and it could end up saving you a couple hundred dollars a month!
It may turn out that your bank is offering a great rate, in which case you can simply submit the renewal! However, I urge you to take this opportunity to contact me about finding a lower rate to ensure you aren’t missing out. As your trusted mortgage advisor, I have access to dozens of lenders and hundreds of rates allowing me to narrow down the best options for you.
If your mortgage is coming up for renewal in the next 3 to 6 months, and you want to find out what lower rates may await you, contact me today! I can help you find the best option for where you are at in your life now and help you to ensure future financial success. I promise you will thank yourself for reaching out!
A " Daysman" never heard of this word before .
November 16, 2021
I always get the left & right stuff mixed up. I think it's partly because they both play in the sand box and a little of each stick to each other and here in Canada the terms are many times opposite to what is used in the US. The media we listen to flows between the two countries being so close. What happens in the US effects us more than what happens in Canada effects them. Demografics, Population, Land Mass, Trade is the big one. US is Canada's largest trading "partner" I think. I am no expert on this, however that is the ghist of it. So I am going to just play a bit in the sandbox and dump some lumps and links here and revist from time to time. ~ Tim
I think of cats playing in the sandbox, just my experience from being on the farm. Looks like the writer of this link below had experience with proper dogs
"More than half of Canadians over the age of 50 don’t have a retirement savings plan. Why don’t more employees save? Perhaps they don’t see the benefit. Maybe they feel retirement is too far down the line. Or maybe they feel they can’t afford it.
There is so many options to consider for a companies Group Plan , logistically we need to focus on one to start.
So lets look at Mackenzie as an example of a great portfolio management company that has a good back office and materials to help streamline setting up and taking care of a companies group plan.
There is some great tools to better understand Retirement Planning Options at this link
Then there is the forms to get, scroll down at the next link
Will need the Sponsor Application and each member will need a application , TFSA and RSP options. There is a defined pension option as well. For many that might not be a good idea, worth a discussion.
Mackenzie Investments Group Plans Forms
That should get any one started, contact us to setup the account as the employer or as an employee
“If we did all the things we are capable of, we would literally astound ourselves.”
Just renewed our domain names, we do not have the dotcom , it's on the market currently for $2795 probably USD, interesting
Brock Shores Financial #ImprovingFutures: Home
Timothy Ross Financial Consultant
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tim ross - Blog - Brock Shores Financial #ImprovingFutures
brockville - Blog - Brock Shores Financial #ImprovingFutureshttps://improvingfutures.ning.com/ › blog › list › tagImprovingFutures.ca. Helping Families Achieve ... Life's Major Goals. Tax Smart Planning & Investing; Worry Free Retirement; Education of Our Children & ...
Improving Futures - Spreaker
I came across Mark Goulston while listening to an interesting conversation yesterday, check it out for your self. I am hoping to put some of the mental health info that I come across to the comments for future resourse and review. This topic touches us all, for some it is so pain full. Mark Goulston discusses things mental health-related. They got into the ins and outs of dealing with depression, his own techniques and tips on how to cope, and the Michelangelo Mindset. Mark Goulston is the Creator/Co-founder of Michelangelo Mindset, exec coach, best-selling author of nine books, and host of My Wakeup Call Podcast. He was originally a UCLA professor of psychiatry for over 25 years, and a former FBI and police hostage negotiation trainer.
This is the interview , the mental health is not the headline, its in the deep dive
There is many things that one can "Tip Their Toe" into in this life we live. Politics is one of those things that qualifies for a little toe tipping. One can always be a little carefree when they tip toe and thus the expression and song about "tip toe through the tulips". First raw thought, getting seriously involved in politics is like tip toeing through the weeds on foggy summer evening, hot but cool, interesting, but dangers linger around every corner, and sometime its bang right in front of you, like the old deer in the head lights expression comes to mind, little train wrecks can pop up were you least expect it derailing your best intentions, or you simply step in it while you take a journey across a pasture field. Some raw sobering first thoughts on the matter. ~ TLR
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Washing Money, Money Laundering is a serious problem around the world. I have been taking courses on this annually on this as part of my investment license requirements. This has the background for an interesting article some day. In the meantime will clip a few articles out there for research.
Here is the first one that caught my curious eye.
“Curiosity about life in all of its aspects, I think, is still the secret of great creative people.”
I don’t know, Theee is the transfer of trade component of Bitcoin type assets, , here is a gold person opinion, gold is not the only real asset, you need real assets that create jobs, profits, that is how you protect against and work with inflation, that’s a good thought, you work with inflation, own the bakery vs own the bread, and you should as long as you remain a profitable bakery Bible to buy more bread….. “You buy bitcoin because you think the price is going to go up. And who do you sell bitcoin to? Somebody who thinks the price is going to go up even more. But if people stop believing that the price is going to go up … who do you sell to?”
RSP/LIRA account holders who will turn 71 years old before December 31, 2021
In accordance with the requirements of the Income Tax Act (ITA) requirements, all RRSP and LIRA accounts must be transferred to a Registered Retirement Income Fund (RRIF) or a Life Income Fund (LIF), by December 31 of the year during which the client turns 71.
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