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CHIP Reverse Mortgage: Resources to Help You Make the Right Decision

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Reverse Mortgage

An older woman knitting and wearing headphones sitting on a couch

If you’re ready to start your new hobby, there are a few ways you can generate additional income from it even in retirement. This way, you can enjoy your leisure activities while also enjoying part-time work. Fortunately, if you are creative enough, many hobbies for the elderly can be turned into a profit. However, how much you earn may depend on how much time you are willing to invest in marketing your products or services.

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Retirement Planning

A senior woman working on laptop

If you’re wondering, how do I apply for CPP, we’ve got you covered. In this article, we take a look at everything you need to know to have a successful CPP application; the Canada Pension Plan application process; the qualification criteria for CPP; information you’ll need before you apply for the Canada Pension Plan; how to apply for CPP at age 60; and when is the best time for you to make your CPP application.

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Many of those people may now be wondering, do I have to pay back CERB? While the benefit helped countless furloughed workers to keep paying the bills, a lot of people may not have been aware that, as far as the CRA is concerned, CERB in Canada is taxable. However, tax is not taken off at source (before you receive it), as it is with most pay cheques, so, you may owe tax when you file in 2021.

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A happy couple laughing and smiling in the kitchen where the woman's arm is wrapped around the man

What is a GIC in Canada good for? In return for lending your money, you receive a (usually) guaranteed rate of interest. However, you have to leave your money in the account for a specific period of time (the term). For a GIC in Canada, this is typically between a year and five years, but you can take out a GIC for shorter or longer periods (as little as 30 days and as long as 10 years). In general, the longer the term, the higher the interest rate.

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A senior pensioner couple hiking in nature, holding hands.

There is no denying that the coronavirus crisis has radically changed the way people think, live, work, and socialize. In light of the emerging perceptions, priorities and lifestyle choices, there seems to be a rapid shift in housing preferences from urban to suburban or rural settings. More and more Canadians are flocking to the lakeside cottage communities, scenic farmlands, or stunning mountainous terrains in search of their forever homes.

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Senior mature business woman holding paper bill using calculator, old lady managing account finance, calculating money budget tax, planning banking loan debt pension payment sit at home kitchen

One in four Canadians believe that they can’t afford the holidays this year, not even holidays on a budget. And with many people’s finances hit hard by the pandemic, it’s not surprising that Canadians are expected to spend around 30% less on the holidays than last year. That doesn’t mean that you have to cancel holiday planning. You can still enjoy the holidays on a budget, you just have to get a little creative.

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Reverse Mortgage Videos

Kurt Browning

Kurt Browning holding a dog on a couch

Kurt Browning, a Canadian figure skater and the celebrity spokesperson for HomeEquity Bank, partners with his dog to describe the benefits of a CHIP Reverse Mortgage and how it can help you retire in the home you love.

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HomeEquity Bank commercial still of Kurt Browning sitting on a bench

Kurt Browning, a Canadian figure skater and the celebrity spokesperson for HomeEquity Bank returns to tell you more about the CHIP Reverse Mortgage.

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Joyce Wayne: Retirement Matters

An older mother holding her daughter closely

I worry about them, and by extension other Millennials. Just as they are beginning to put down roots, develop their careers and basically decide what kind of life they wish to lead, the rug has been pulled out from under them. When we talk about the future, it’s difficult for them to see their future, how they will work, support themselves and possibly raise children together.

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Older woman with long hair reading a book on her couch

Retirement might be the perfect time to begin a journal, to start recording your thoughts as you grow older. Or it could be the moment to launch a creative project, the painting or writing you’ve always wished to try, the musical instrument, or the potter’s wheel you have a hankering to master.

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An older couple sitting on a couch smiling and looking at a device

For many of us with underlying conditions, our lives have changed dramatically since March 2020 when the WHO declared the virus had become a pandemic. Since then, we’ve been living differently, but if we remain healthy, there are ways to weather the tumult and keep our emotional balance.

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The HomeEquity Bank Note

How it Works?

How Reverse Mortgages Work

If you're like many other 55+ Canadians, much of what you own fits into two categories - the equity in your home ...

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Reverse Mortgage Videos

Reverse Mortgage Videos

Watch these videos from HomeEquity Bank and learn more about CHIP Reverse Mortgage

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