Page 6 - Sports Energy News, Cornwall, Issue No 137

6 Issue #137 June 2024 www.sportsenergynews.com

Neighbourly Advice Fr om Our Local Pr ofessionals
Neighbourly Advice From Our Local Professionals

By Brian Johnston holders could see an increase of 30 to 40 offering some insights on where there
Mortgage Specialist percent in their monthly payments when may be some wiggle room and what
they renew. homework needs to be done.
MORTGAGE RENEWAL SHOCK Ron Butler, host of the podcast Angry Canadians should be in the know on
Canadians have been hit with the fastest Mortgage, said there are an estimated 500 where the rates are at, what they want to
rising interest rates in more than four mortgages renewed every day in this year, do with their property, (whether) they’re
decades and with many poised to renew and next year there could be as many as thinking about selling it in a year or will
their mortgages in the months ahead, 750 a day. That means a lot of people are they last in that home for five years. Then
some shock may be in store. facing a lot of financial strain all at once. they need to make an informed decision
Financial experts have said some mortgage Knowing this, financial experts are Continued on page 23

By Michael VanderMeer have pretty much doubled since the reflect its budget. Some peoples taxes
Real Estate Agent last assessment in 2016. Normally will go up significantly if they were
assessments are done every four years. under assessed in the first place but
ASSESSMENT’S FOR PROPERTY In the next assessment most homes overall, your taxes will only increase
TAXES will double in value, but that does not in a normal fashion.
Property taxes are based on a home’s mean your taxes will. Although most It should be noted that when a home
assessment and the mill rate that assessments will double, your taxes is reassessed the increase is generally
your municipality applies towards
will go up, but will not double. When added to the assessment in equal
your assessment. Right now, all the new assessments come out the amounts over the next four year
assessments are low as market values
municipality will lower its mill rate to assessment period.

financial advice. to slightly underperform the index after
Max Ming P.Eng. CFP ®
Financial Planner Our team feels that investors deserve to fees. We are not saying there is anything
see the transparency of these products; wrong with this, in fact for many investors
“THOSE WHO UNDERSTAND IT, They’re low cost, right? Yes. The actual using passive asset allocation portfolios is
EARN IT…”
on-going Management Expense Ratios a great approach.
With the NHL playoffs beginning a (MER) and fees for some self-directed
few weeks ago, no doubt many of you portfolios are, on average, cheaper than The problem? They refuse to use an
witnessed the continued obsession self- apples-to-apples comparison. Many
an actively managed fund or portfolio
directed platforms put on “Retiring 30% MER. This makes sense given that there other fund providers also offer passive
Wealthier.” If you have seen these ads, investment strategies with low fees
is no management making decisions
(this is not something unique to self-
it would suggest you would do well with them. The constant (which has its own pros and cons but
undermining of “Dad’s Guy” has led us to write this post that’s a separate discussion). They are directed brokerages). It is important to
- debunking the promotional ads that discount the value of simply using a collection of passive funds
Continued on page 40

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“Not intented to solicit properties already listed for sale”