Jun 9 (edited) • Retirement
RETIREMENT TIPS WITH LABA. Sooooo you paid your home off what next ?
I remember years back when we paid our mortgage off during COVID I thought there be a big party at the bank. Nope no party with our masks on. Do I get a ownership like you do when you buy a RV, Vehicle, trailer ???
What The...NOPE nothing but I did get option of HELOC secured line of credit to the home of course the bank promos that in my thought keep it modest don't need access to 75% of my home.
Note:
(Please take it when retire they don't care about you at the bank)
Ontario has a Title Insurance ($250-$500)
Why? SCAMMERS so HELOC might be harder for scammer to steal your home but you need more so read on if you are retired if you want to be a smart investor here a list I tell all my friends where to start:
(it not just setting up a Wealth Simple or Questrade account there is much more)
1) Get your wills done LIVING and In Death (two) do you want government stepping in if have a stroke?
2) Make sure you have all your beneficiaries and survivorships taken care of TFSA are powerful because when they move over to your spouse they don't use their room up.
3) Good Lawyer. Remember today if you think you sell your house on your own you can but if you want to have serious offers no one works for free especially not your Real Estate Agent they might look like they make big bucks my late mother in law was one and she worked hard for her money.
4) Good Tax Accountant (I seek out the best who also understands investing taxes)
and I sure in comments we can add to this list (I know more) see what you come up with but back
to Title Insurance here what AI wrote to support what I know and do. I also like the way it makes everything neatly presented. So sure you might not be at this stage but there are many who retire or live FIRE lifestyle then some Black Swan event happens protect yourself against scammers. I don't like word retire but to live on FIRE and its not the end it's a chance to have fun again where you have 6 Saturdays and a Sunday don't forget to take care of the small details.
Hope this helps but remember not an Financial Advisor do your research I just an old guy hanging out with his amazing wife who we both act crazy everyday making a fool of ourselves once a week....hmm? I thinking 🤔 Laurie in Seven of Nine outfit or Two Paws outfit (Enterprise humour)...
Enjoy designing your life it's yours to design don't listen to the news they keep you afraid not living your best life !!! Don't work to 65 or 70 unless you enjoy it your working for the Gross of your income and the government and system....sing song It's time to Break Free by Queen...cute I get stuck all the time with songs in my head !!!
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RETIREMENT TIPS WITH LABA. Sooooo you paid your home off what next ?
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