Miller Financial Group Inc.

05/31/2024

https://thoughtleadership.rbc.com/the-great-rebuild-seven-ways-to-fix-canadas-housing-shortage/

While my professional activities are not directly related to the real estate market I can say it's still a big conversation topic. From understanding and using tax efficient strategies to setting up an effective insurance plan, buying a property is a big goal for most Canadians.

This article may take a few minutes to read however I find it covers a huge amount of information and statistics related to the Canadian housing market.

Coles notes:
-Home affordability = all time low
--Rental vacancy rate = all time low
-New construction workers needed = 500k
-Approximately 500K new immigrants arriving per year
-Declining housing starts (new builds), annualized at about 240k units (as per April figures)

My takeaway...don't hold your breath if you think that housing affordability will change in the short term. There are too many variables and ultimately the supply and demand equation looks pretty straight forward... Thoughts?

Too many Canadians are struggling to find a home they can afford—making housing the defining issue of this country’s politics and economics.

05/22/2024

With hundreds, if not thousands, of different financial products and services in the Canadian marketplace it is often the case that individual Canadians are not making fully informed decisions. It is also no secret that financial decisions are often postponed, rushed or outright avoided due, in part, to the complexity of the industry. Through almost 15 years of experience and thousands of individual meetings I can safely say I have seen almost every potential outcome of this process.

With this in mind, over the weeks and months to come, I will be taking some time to provide a basic overview of some different financial products and services available to any individual Canadian.

The goal is two-fold:

1. Use social media in a positive amd consistent way.

2. Provide basic, relevent and informative content to anyone and everyone.

Comments, critiques, opinions as well as any other inputs are welcome.

05/22/2024

The Manulife Bank advantage account is currently offering a 5.75% (variable) interest rate for a 4 month period from the time of your initial deposit. Some important considerations:
1. This is a limited time offer expiring in mid June.
2. The rate is variable, with a base rate plus a bonus rate. If the Bank of Canada cuts interest rates, the rate on this account would also be impacted.

So...what is the Manulife Bank Advantage account? The best way to describe it is as a hybrid checkings/savings account. It functions like any other deposit account. The basic interest rate is higher than most competitors and with reasonable deposit levels you can access this account without any monthly fee.

For more information here is the link:
https://www.manulifebank.ca/personal-banking/bank-accounts/high-interest-chequing-savings-account.html

Manulife Bank is a wholly owned subsidiary of Manulife Financial and is a member of the CDIC.

5.75% is not the only current promo rate in Canada however it is competitive and there are no strings attached.

Hope this is informative and thanks for taking the time to read this post.

Our Advantage Account is a combined savings and chequing account that gives you high interest on every dollar. Enjoy the flexibility to bank the way you choose. Check out our competitive interest rate and open your account online in five minutes.