Financial Solutions

How to Buy A House with a Mortgage

October 17th, 2011

Owning a home a.k.a. The American Dream is considered by many as the true sign of making it.  There is a right way and a wrong way to make this dream a reality.  The last couple of years have shown that if you do not go about it the right way, you could end up with a real mess on your hands.  Foreclosures and short sales are at an all time high, so I wanted to discuss a few  tips to help you avoid negative housing situations.

It is possible to get a mortgage loan with very little down.  This could be considered good in certain circumstances, but overall its a bad thing.  It makes buyers think they can afford more than they can.  I suggest instead, saving up at least 20% for a down payment. So, if youre looking at homes in the $100,000 range save until you have at least $20,000.  That s

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This & That: Gas Prices, TFSA debate and more…

October 14th, 2011

Tomorrow’s Gas Price Today: Long-time Member of Parliament Dan McTeague runs a website that forecasts the next day’s gas prices for major cities across Canada. It can help you decide if you want to tank up today or wait until the next day. The website correctly forecast last week’s spike of approximately 6 cents a litre.

TFSA or RRSP: The Globe and Mail ran a extract from David Chilton’s The Wealthy Barber Returns. In it Dave offers an intelligent take on which vehicle is better for retirement savings.

US Economy in Recession: The New York Times reported that according to the Economic Cycle Research Institute, which calls itself the “world’s leading authority on business cycles”, the US economy is already in a recession or is able to enter into one.

Is it a bear market?: A bear market is typically defined as a 20% decline from a closing high to a closing low. Jason Zweig w

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Tags: Gas Prices, Prices

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Are You Aware of These Small Business Marketing Mistakes (That May Be Hurting Your Business)?

October 12th, 2011

When youre running a small business and trying to make everything work like its supposed to, you often pick up bad habits that can have disastrous consequences in the long-term. Sometimes the mistakes we make with our marketing and business connections are simply the result of trying to save some time and money. Its a lot cheaper to take a do-it-yourself approach when youre dealing with clients and trying to attract new ones. Theres nothing wrong with trying to cut costs and take a hands-on approach to your marketing, but there are common mistakes that many small businesses fall victim to every day. Beware of these, and you will be well on your way to launching your successful marketing campaign.

If youre dealing with any number of clients throughout the course of your day, youre likely writing and replying to a ton of emails.

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Tags: Business, Small Business

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What would Warren Buffett pay under 9-9-9?

October 12th, 2011

Many are concerned that Herman Cain’s 9-9-9 Plan would shift the tax burden from high income earners to low income earners.  One interesting data point is how much Warren Buffett would pay under 9-9-9.

First, Herman Cain has not fully specified the Plan’s details, but I assume, unlike others, that personal income is not double or triple taxed (see addendum).  Also, I assume dividends and interest are taxed as personal income, while capital gains are exempt.  Next, I assume that Buffett, unlike the average millionaire, has almost no wage income.  Apparently, he pays himself $100,000 per year, which is negligible in comparison to his total income of $62 million.   L

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Tags: Pay, Warren Buffett

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