SAVING FOR A DOWN PAYMENT

  •  RRSPs.  Don’t over contribute to RRSPs if you are saving towards a down payment.  First time home buyers can only withdraw $25,000 toward a home purchase.  
  • Cash Flow Banking.  Consider saving within a policy as described in Cash Flow Banking 

  • Investing.  In addition, if you are 4-5 years or more from your purchase, consider investing in a TFSA or open account with an investment goal of 4% and take the least risk possible to achieve that return.  


© 2016 Doug Ransom - Insurance Advisor