Комментарии:
When you put a lump sum down does it go towards the principal?
ОтветитьHow do we find out our marginal tax rate? Seems a bit complicated to figure out precisely
ОтветитьLiterally exactly what I needed - thank you! Was like "if only somebody had a calculator that did this this and this" and BOOM, along comes your brilliant video.
ОтветитьShouldn’t you be using the average tax rate at withdrawal rather than the marginal? Most people do not have earned income during retirement.
ОтветитьI do have a question: this calculator theoretically applies to the "right now scenario". You said it yourself, it takes in consideration the fact that you will (unlikely) pay the same interest rate for the rate of the mortgage... However considering the current situation, when we will refinance the mortgage in the next 1-2-3 years, we will likely renew on a much higher interest rate.
In this case, using the yearly bonuses to make a dent on the mortgage would help lower the principal to alleviate the weight of a higher mortgage rate. Would it be wise in this case to use a "make up interest rate" derived by the mean of what we assume the interest rates are going to be in the next years to come?
I know quite a few people who payed off their mortgages early and not one of them every regretted it.
ОтветитьHow come you used 21 years for the RRSP scenario instead of 25 years?
ОтветитьI'm in this very boat right now. It's about a wash between both choices. I dont really understand the amortization part as it's only really true if you made one lump sum one time and only kept payments the same never making other additional shortening or lengthening the term.... If someone has 25 years of mortgage left I would expect they'd be 30-35 years from retirement. Or if someone had 21 years from retirement I'd expect they'd have 10 years of amortization left. My gut tells me the rrsp would mathematically be better coupled with the return but the mortgage is guaranteed return and if it gets you closer to paid off house that would be so freeing as well. Long story short I think I'll go 50/50. Put half in rrsp get closer to Max and put the other hald on mortgage.
ОтветитьHave you considered doing a comparison and showing if the income tax return was invested into a T.F.S.A. ? As a T.F.S.A. seems to be more of an advantage if invested in for 30 or 40 years.
ОтветитьHi Jessica, even after confirming on subscription in Gmail , I cannot still download,,,hmmm... Glitch somewhere in the workflow?
ОтветитьGreat video. But even great is you tube recommending me when I am exactly trying to figure this out
ОтветитьGreat video! Thanks for sharing this as it’s becoming more relevant to my financial situation.
How would this calculator change if I’m considering to invest a lump sum into my TFSA instead of my RRSP and comparing against the option to submit a pre-payment into my mortgage to reduce the principle amount?
good video, I get this question a lot too. Cool tool! let me know if you are interested in doing a collab :)
ОтветитьGreat tool ..any reason the savings and interest aren't calculated as compounded over the terms?
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