Sam Himyary, B.Sc., CFP, AMP
As a certified financial planner, CFP and a mortgage agent, I provide my clients with the most suitable mortgage for their principle residence or investment property . I realize that a family’s home is the biggest purchase and a mortgage can be the biggest liability that a family might incur! I can provide you with the best rates and also make it work within your entire financial plan and future financial goals . We partner with over 40 of Canada's lenders to provide an unbiased recommendation. During our meeting, we can take a snap shot of your cu ...
The newly rich: How your world changes when downsizing creates a windfall
Date Posted: September 30, 2014
The investment in your family home has paid off handsomely over the years. You could downsize and buy a cheaper home or condo or you could give yourself the flexibility of renting an equally nice home or condo.
Here are four things to think about:
- What is your new annual budget going to look like?
- In order to cover off annual spending, how much, if any, do you need to draw each year from your non-registered investments?
- Based on your current situation, what is the chance of you outliving your money?
- Your tax bill is getting very big, and you need to figure out how to make it smaller