Thinking of purchasing a vacation property?

It’s a curious fact that we Canadians, depending on where we live, call a vacation home by different names – a cottage, chalet, country house, camp or cabin. But what they all have in common is that so many owners call their vacation property a source of cherished family time and lifelong memories.

If you ever consider such a purchase, it’s important to weigh the enchantment of vacation property ownership against the commitments of owning a second home.

When should you start CPP/QPP and OAS benefits?

Start government benefits sooner and you collect a smaller monthly benefit, but right away and for a longer time. Delay the start and you receive a larger monthly benefit, but must bridge the waiting period with other resources.


Knowing when to start isn’t always easy, and even many financial experts offer vastly different opinions. Some retirement planners say to begin Canada Pension Plan (CPP)/Quebec Pension Plan (QPP) benefits as soon as you retire, even if it’s age 60. A recent report from the Canadian Institute of Actuaries recommends deferring the start of CPP/QPP benefits, even to age 70.1


To help understand the situation, here’s a look at key reasons why Canadians choose to start benefits sooner, later, or at the traditional time.

Ways to use a TFSA in retirement

During income-earning years, a Tax-Free Savings Account (TFSA) can be used to fund numerous expenses: a child’s education, family trips, a wedding – just about anything. Once you retire, you’ll discover that a TFSA is just as versatile, helping you to meet a variety of needs unique to retirement.

The pandemic and the piggy bank

Just over 12 months ago, provinces and territories responded to the COVID-19 pandemic by declaring states of emergency. Restrictions and lockdowns have affected Canadians in different ways, and one of the starkest differences involves savings. Some people needed to tap into their savings, while others saw their savings accumulate.

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