Welcome back to the #owngrowprotect blog! Today, we're thrilled to have Elyce Cartier, one of our seasoned insurance experts, share some invaluable insights. In her latest piece, Elyce breaks down how some straightforward actions can safeguard your vehicle and help contain your insurance premiums. Thanks to Elyce for these helpful tips! EC: "Keeping your car safe and your insurance costs down doesn't have to be complicated. I'm excited to show you some simple yet effective ways to protect your vehicle and help ease the financial pressure on your wallet. Let’s get started!" Steering Wheel Loc ..read more

In the ever-evolving landscape of home buying, the debate between using mortgage brokers and going directly through banks has remained a hot topic. Recently, a thread initiated by @Martyupnorth_2 on X sparked a lively discussion on this very subject, prompting responses from a wide array of individuals, including many directly involved in the industry. The crux of the conversation? Whether mortgage brokers truly offer value to those looking to secure a home loan. Just for fun we threw the comments from the thread into ChatGPT and categorized the sentiments into positive, negative, and neutral ..read more

What's Next for First-Time Home Buyers? In a recent move by the Canada Mortgage and Housing Corporation (CMHC), the First-Time Home Buyer Incentive (FTHBI) has been officially discontinued. While this program aimed to assist Canadians in owning their first home, it faced significant criticism for its restrictive nature, particularly concerning income and property value limits. This has been a point of contention, especially in urban areas where these limits were far from realistic. Others have criticized the ‘shared equity’ component of the program as having the potential to muddy property ri ..read more

Hey there, financial adventurers! Did you know that once every four years, the universe gifts us an extra day? That’s right, I’m talking about February 29th – the elusive leap day. It's like finding a bonus fry at the bottom of your fast-food bag, but for your finances. So, let's hop into the world of leap year investing and see how you can make that extra day work wonders for your RRSP. The Leap Year Phenomenon First off, what's up with leap years? In a nutshell, it takes the Earth about 365.24 days to orbit the sun. Those extra .24 days accumulate, and every four years, we need to add an ex ..read more

Quick Update on Collision Reporting Rules Hey there Alberta! We've got a quick update that's worth your attention. Starting January 1, 2024, there’s a change in the collision reporting rules in Alberta. It's not a major shake-up, but it’s something that might save you a bit of time and paperwork in the future. What’s Changing? Previous to this new change, if you were involved in a vehicle collision and the damage was estimated over $2,000, you needed to report it to the police. From 2024, this threshold is increasing to $5,000. Why the Change? This change is a response to rising vehicle repai ..read more

As we conclude our "12 Days of Christmas" series, let's take a break from The Serious and have a lighter look at "Twelve Quirky Canadian Financial Curiosities." This post delves into the lesser-known, sometimes humorous, and always fascinating aspects of Canadian investments, insurance, and mortgages. From historic milestones to unique practices, these tidbits reveal the quirky side of Canada's financial scene. First Canadian Stock Exchange: Canada's first stock exchange was established in Montreal in 1832, a time when stocks were primarily traded in coffee houses. The Loonie's Lucky Arrival ..read more

"Eleven Policies Protecting" captures the essence of day eleven in our "12 Days of Christmas" series, shining a light on the comprehensive insurance services offered by our 'Protect' division at First Foundation. This division plays a crucial role in safeguarding our clients' assets, health, and overall well-being. Our Insurance Services: Homeowners / Condo / Tenant Insurance: Providing coverage for homes, condos, and rental properties, ensuring protection against various risks like property damage and liability. Auto/Motorcycle Insurance: Offering a range of policies for cars and motorcycles ..read more

"Ten Portfolios Growing" perfectly encapsulates the day ten theme of our "12 Days of Christmas" series, highlighting the vibrant growth and potential within our 'Grow' division at First Foundation. This division is dedicated to enhancing and expanding our clients' financial portfolios through a range of wealth management and investment services. A Glimpse into Our 'Grow' Division Services: Wealth Management: Offering personalized strategies to grow and manage wealth efficiently. Investment Solutions: Providing a variety of investment options to cater to different financial goals and risk appe ..read more

As we celebrate the ninth day of our "12 Days of Christmas" series with "Nine Brokers Broking," it's the perfect opportunity to spotlight the comprehensive range of services offered by our 'Own' division at First Foundation. From helping first-time buyers to complex commercial deals, our team of 9 mortgage professionals is dedicated to finding the perfect financial solutions for our clients. Our Broad Range of Services: Purchase Financing: Assisting clients in navigating the home-buying process with tailored financing options for their new home purchase. Refinancing: Providing options to refi ..read more

While higher interest rates often carry a negative connotation, particularly for borrowers, they can present a silver lining for investors. "Eight Investors Planning" reflects our theme of finding positive opportunities in a higher rate environment. Here are eight aspects where higher rates can be beneficial for investors. 1. Higher Returns on Savings and Fixed Income: Savings accounts, CDs, and fixed-income investments generally offer higher returns in a higher interest rate environment, benefiting those who prioritize stability in their investments. 2. Potential for Stronger Performance in F ..read more