Joe Macek, Investment Advisor Portfolio Manager iA Private Wealth

BEAT THE BANKS! 5 Sneaky Tricks to Help You Through A Rising Mortgage Renewal! Genius Ways to Crush Your Mortgage Renewal Payments and Save Big! You Are NOT Alone! 80% of all mortgages that were outstanding as of March 2022  will come up for renewal in 2024,  but in 2022 the average fixed rate on 5-year mortgages  back then was 1.97% , today most everyone is keenly aware that renewal rates are  much much higher!  In today’s article, we are going to help you get some ideas on how you can survive renewing your mortgage in today’s sky-high interest rates! If you’re a Canadian worrying about your mortgage renewal in 2024 and you have a really low rate,  you’re not alone . Most other Canadians are in the same boat.  Over 80% of mortgages are up for renewal in 2024, affecting about 3 million Canadians.  This means a lot of people are concerned about possibly facing higher interest rates.  The Bank of Canada predicts that by 2027, monthly mortgage payments could go up by as much as 54% for so

Unlock Thousands in Benefits! The Ultimate Guide to Applying for OAS and CPP Today we dive into the process of applying for OAS and CPP, two vital government benefits that significantly impact your financial future! Knowing the opportune moment to apply or defer CPP and OAS benefits becomes increasingly critical later in life. Throughout this piece,  we’ll explore the application timeline, procedures, post-application steps, and strategies for rectifying any potential mistakes.  Join us as we navigate the complexities of securing these essential benefits. Two Separate Benefit Programs Let’s discuss applying for CPP and OAS, two distinct benefits.  It’s important to note that you don’t need to apply for one if you’re applying for the other; they’re separate entities.  To begin, let’s determine eligibility. In Canada,  if you’re 16 or older and have made at least one contribution to the Canadian pension plan, you qualify for CPP benefits.  For OAS eligibility,  you must have resided in C