Investing in a vacation home may be enticing to you, for the joy of a personal retreat and for the potential for financial gain. The appeal of owning a “place in the sun” that can also generate income through rentals is strong, but whether it’s a good investment or not depends on several factors.

Investing is a crucial aspect of financial planning, but needs to be approached with the right mindset and is best started as early as possible to avoid an investing mid-life crisis.

This article will cover what exactly an investing midlife crisis is, and tips for how it can be avoided or, if it happens, navigated.

Purchases of second homes in Canada have been increasing over recent years with more than 10% of Canadians now owning a second home.

However, there are distinguishing criteria for your second real estate property to qualify as your second home rather than an income property which is a property used for the sole benefit of generating additional income such as a rental property.

Inheriting unexpected wealth can be both a blessing and a challenge. While an unexpected inheritance may surprise you, it can provide great opportunities to improve your financial situation and achieve long-term goals. By understanding the steps you should take and knowing how to make informed decisions, you can confidently navigate this unanticipated wealth.

In the following sections, we will discuss various strategies to help you maximize the potential of your surprise inheritance. From creating a comprehensive financial plan to exploring investment options and minimizing tax implications, we will provide actionable advice tailored to your specific circumstances.

Financially preparing your child for post-secondary education is an important step towards ensuring their academic and financial success. By taking proactive measures, parents can help alleviate the financial burden associated with higher education and equip their children with the necessary tools to navigate this significant milestone in their lives.