By: Jeff Buckstein | Calgary Herald | March 31, 2010
Read More, and see what Scott Plaskett says about having a financial plan before planning a property investment.
Heather Holjevac enjoys crunching financial numbers for her clients, but one of the most engaging financial planning exercises she’s undertaken has been personal.
In 2007, Heather, 44, and her husband Joe debated whether they could afford a second property in Sauble Beach, Ont., near Lake Huron, where the couple could eventually retire. If they decided to buy it, it meant taking on a new six-figure mortgage.
They looked at the merits of a second property compared with other financial strategies such as putting more money in RRSPs or non-registered funds, says the Mississauga, Ont.-based financial planner and tax consultant.
Ultimately, they decided to buy the property. The Holjevacs believed the property could appreciate in value and be a place they could occupy in 10 to 20 years…
