The most common questions we received over the past year are from people with fixed mortgages that are coming to term. They are wondering the following 3 questions:

1) What will my mortgage payment be upon renewal?

2) What can I do to reduce the impact on new mortgage payment/interest rate?

3) Should I go fixed or variable and for how long?

Since every individuals retirement needs are specific, Construct Your Finances has provided solutions to different retirement ages, lifestyle spending needs within retirement and life expectancy. This article has three (3) tables based on retirement age (55, 60 and 65) along with the associated amount required for retirement.

In April 2023 we took a poll on our Instagram Account requesting what topic our followers would like us to cover. Poll results saw followers looking to confirm what is better: accelerating mortgage payments or investing in a registered account like an RRSP or TFSA

In Canada, chequing accounts are the foundation of one’s personal finances. A chequing account is primarily used within banking institutions for day-to-day transactions. Typically, this account can accept direct deposits from your employer, deposit cheques/e-transfers and used to withdrawal cash at ATMs. It can also allow for easy distribution of funds for bill payments, e-transfers, money orders and wire transfers.