Planning an extended holiday or retirement in Sunny Florida or Arizona? Here's a little checklist before you go.

Buy travel insurance early

Canadian health coverage is limited in the United States, not adequate for medical emergencies, and travel coverage often can't be bought after you've left Canada.  Many providers offer a discount when policies are bought well in advance of departure. In addition, if you develop a medical condition before your trip and you haven't already secured a policy, this could delay or prevent coverage. To save on premiums, choose a policy with a high deductible.

Get the best exchange rate

Banks and currency brokers offer better rates to customers who exchange a large sum. Before you exchange your Canadian money, shop around for the best rate, and avoid currency exchange kiosks, which typically charge a much higher commission.

Open a U.S. or cross-border bank account

Having a U.S. or cross-border bank account makes it easier to pay bills and write cheques for U.S. expenses. In addition, financial institutions with cross-border banking can help you avoid foreign-transaction fees and can help you establish U.S. credit history, making it easier to get a loan or mortgage.

Notify your home and auto insurers

Many home insurance providers require notification if your house will be vacant for months at a time. While you may pay a higher premium during your absence, failing to follow this step may invalidate your coverage. You may be able to reduce your auto insurance coverage if you are leaving your vehicles behind.

Be Prepared at the Border

To move smoothly through U.S. customs, bring evidence that you have every intention of returning to Canada, such as the previous year's tax return or recent utility bills.

Prevent hassles at customs

Avoid travelling on a one-way ticket, a ticket that was purchased for cash or one that was bought immediately before a flight. Don't cross the border in a vehicle that is not registered to any of its occupants, or that is registered in a place in which you do not reside. Avoid travelling with a companion who has a different immigration status from yours in the country you are attempting to enter. And make sure the names on your travel documents contain no variations.

Are you or someone you know considering buying, selling or investing in the US real estate market, call me

Here are some great ways for staying active in retirement!

You’ve dreamed of it all your life – retiring and having the freedom to follow your passion, whether it be volunteering, writing the next great novel, sleeping late or travelling the world. With people living longer these days, you have many years ahead of you to enjoy. That’s why it’s important to stay active during retirement. Here are five ways to stay active during your retirement years. 

Join the Toronto YMCA 

The YMCA is rapidly becoming “the place to be” for retirees. The over-60 set goes here to exercise and congregate after their workout to drink coffee and socialize. When you join the Y, you have access to fitness classes, a swimming pool and full cardio and strength-training equipment to stay in shape. Plus, you have the chance to socialize with other people who are retired and exercising to stay fit. That’s great motivation. Most YMCAs offer a full of exercises classes you can take to develop strength, cardiovascular fitness, flexibility and improve your balance Not only will you have the opportunity to get fit, you’ll make new friends at the same time. 

Volunteer 

Volunteering is as good for your body as it is for your soul when you choose a volunteer activity that keeps you moving. Offer to help at a local animal shelter by walking the dogs a few days a week. If you’re handy with a hammer and nails, put them to good use by building or repairing homes through Habitat for Humanity or Global Village. 

Start the Day with Goals and a Plan

When you no longer have to get up at a certain time to go to a job, it’s easy to sleep too long and spend time in front of the television set. Don’t let the day slip away from you. Set goals and plan out your days and weeks ahead of time. Though you no longer have a job, you still need structure or you’ll end up wasting valuable time or become too sedentary. 

Spend More Time Outdoors

If you spent years cooped up in an office, rediscover the great outdoors. Find a local nature trail or fitness trail to walk in the morning for exercise and enjoy the beauty and tranquillity of nature. Take a walk first thing in the morning and watch the sun come up as you breathe in the clean morning air. Do more outdoor recreational activities like miniature golf, tennis and hiking. Plant a garden in your backyard and enjoy watching it grow. If you’re handy with hammer, build a birdhouse. Grab a camera and take a nature walk as you capture nature’s beauty on film. 

Take Active Vacations

Retirement is your chance to see the world. When you travel, choose destinations where you can walk and bike rather than go everywhere by car. Plan a hiking vacation or try your hand at canoeing or kayaking. More retirees are discovering the benefits of “adventure vacations.” Take a trip to the beach and take long walks in the sand or rent bicycles to bike along the boardwalk. Sign up for a fitness spa vacation where you can take yoga classes, go on an early morning hike, eat nutritious food - and still be pampered. 

The Bottom Line

There are so many ways to stay active during retirement. Give these ideas a try and your retirement years will be anything but sedentary. Staying active will give you better health so you’ll have more years to spend with your loved ones.

Assisting  Seniors Buying, Selling, Downsizing or Investing  for more than 30 years in the Greater Toronto Real Estate Market. Call me for you FREE ESTATE PLANNING KIT TODAY!

My

What Not To Buy Mom For Mother's Day!

I wanted to dedicate this weeks Blog to 

all the wonderful Mom’s out there! 

Here are a few gifts you should 

avoid giving on Mother's Day.

Cleaning Equipment

The last thing you want is Mom to feel like is that she is your maid.

 Don't put a damper on her day by reminding her of household chores.

Cooking Paraphernalia

Rather then giving her something she has to cook with why not suggest that you make dinner instead. Moms love cooking for you but they need to know that you see them as more than your personal chef.

Exercise Equipment

I don't think anyone's eyes every lit up after opening a thigh master.

 She may take this as a subtle hint that you think she is out of shape.

Gym Membership

A gym membership may send out a signal that suggests you think your mother is fat or needs to lose weight. Avoid this at all costs!

A New Pet

Think twice before you surprise her with a new pet. 

Who's going to feed it? Walk it? Train it?

 If the answer is mom, walk away.

 If you mom is an animal lover consider making a donation to the Toronto Humane Society.

A Gift Card

They're impersonal, and you run the risk of giving her one to a store she doesn't really like. 

Instead take her out shopping to her favorite boutique.

 She'll enjoy it and you'll actually spend time together.

Speaking from personal experience all a mom wants for Mother's Day 

is to spend time with her family!

What is the most unusual Mother's Day Gift you have ever given or received? 

We would love to hear from you!

Curious about what your home is worth? Give us a call; you will be pleasantly surprised at your home’s current value. Planning a renovation? We can advise you where you will get the most return on your investment.  Please accept this as your personal invite to call upon us with any of your real estate needs. We can be reached at 416 699 9292 or drop us an e-mail at info@wafamasri.com

Creating Retirement Wealth with Real Estate

 

 

Tips to Buying a Turn Key Investment Property

I have compiled this short but fundamental list to take into consideration if you want to buy a lucrative and highly profitable Investment Property.

1. Choose a proven real estate professional that specializes in investment properties.

Ensuring you are using the right investment property specialist will give you peace of mind and is essential for a successful investment.  Check the Realtor’s track record, ask to seeclient testimonials and try to contact former investors.


2. Make sure you understand the basics of property investment & current market conditions.

While you should use a Realtor who specializes in investment properties during the

investment process, you cannot entirely rely on them. Make sure that you understand the basics of property investment and all financial details involved. This will enable you to spot any potential risks ahead of time to find a profitable investment opportunity.

3. Have a clear picture of what type of investment property to buy.

There are a variety of investment properties, duplex, triplex’s, fully commercial, mixed use properties, or overseas properties. The type of property will also determine your investment strategy, so make sure that you know what kind of property and investment strategy you are looking for to achieve your desired profits.

4. Is the property in favorable condition and is it in a good location?

These should be crucial considerations, as you will either want to lease the property, or sell it to another property investor or home-buyer. A property that is in good condition might be more expensive, but buying a relatively cheap property in a bad condition will always incur significant additional repair costs. Whether you want to find tenants, or resell the property, the location will be crucial, and a property in a bad neighbourhood or in an economically vulnerable location will rarely turn out to be a good investment. 

5. Will you find tenants for your property?

It is essential to make sure that you can find tenants for your property. This will depend on the location, property condition, the rent, and many other factors. Some Realtor's will even help place tenants in the investment property.

6. Do you understand how to maximize your returns?

Achieving a positive cash flow will make your property investment successful. While it is obvious that every investor wants to maximize returns, you will have to understand how to make this happen. Finding a property possibly below market value but in a good location and good condition will be crucial for the success of your investment. You will also have to understand how to minimize the costs, including repairs, and taxes, and you should also make sure that the property remains occupied for most of the year.

7. Do you understand the risks?

Property investment will never be without its risks, and you will thus need to understand all the risks involved. Economic growth might not be as expected, or you might not find tenants for a longer period. By understanding these risks, and developing an effective risk-mitigation strategy, you will find it easier to turn your property into a successful investment.

Are you or someone you know buying, selling, downsizing or investing in the Toronto Real Estate Market - call me!  

Are You Financially Equipped For Retirement? Here's a Guidelines to Get You Ready!!

Start Saving

 Canadians spend an average of 20 years in retirement. If you’re not saving, it’s time to start.

Estimate Your Retirement Needs

Expert’s estimate that you will need about 70% of your preretirement income – for lower income earners, the figure is 90% or more – just to maintain your current standard of living when you stop working.

Participate in a workplace Retirement Savings Plan

If your employer offers a retirement savings plan (RRSP), sign up and contribute as much as you can afford. Your company may kick in to match and your deductions can be automatically taken from our paycheck.

Educate yourself about your investments

How you save can be as important as how much you save. The type of investment you make play important role in how much you’ll have saved at retirement. Learn and ask questions about your investment options.

Find out how the Canada Pension Plan (CPP) Works

Your contributions to the Canada Pension Plan provide you with a stable and dependable pension you can build on for retirement.

Your contributions also provide you and your dependents with     basic financial support. Check out Services Canada Website http://www.servicecanada.gc.ca/eng/isp/cpp/cpptoc.shtml

Have a Real Estate Portfolio

Your principal resident is your tax free retirement fund. Buying an income generating property can provide cash flow in your retirement years.

Believe it or not I learn so much just putting all the information together for my blogs every week. I truly hope you enjoy reading these helpful hints.

Curious about the current value of your home call me today for a Complimentary No Obligation Home Evaluation

Are you or someone you know buying, selling, downsizing or investing in  Toronto Real Estate? Call me! Living, Loving & Selling Toronto for over 30 years!

HANDLING YOUR INHERITANCE WISELY

Canada’s Zoomers are in line to inherit a vast cumulative fortune in their retirement years. Here are a few helpful guidelines with spending and investing your inheritance.

Start with your children’s education

Helping your children pursue post-secondary education is a costly proposition. Use the first big chunk of your inheritance here because it will help set them up for success, as well as provide you with a guaranteed 20% return. That is the amount of the grant the government provides on your contributions. Like most families, you probably haven’t been maxing out the $2,500 per child per year. Luckily you can go back in time and catch up.

Max out your Registered Retirement Saving Plan (RRSP)

The next thing to do is to max out your RRSP, but not just for this year. Find out how much RRSP contribution room you have in total and start using it. You can probably contribute a big chunk of the money now then work with an accountant to determine when you should actually take the deduction to get the highest refund on your income tax.

Pay down your mortgage with your tax refund

Those nice, big RRSP contributions will generate a higher tax refund than you are used to. Provided your home mortgage has a lump sum pre-payment option, you can use the extra money you’ll get from your tax refund to bring down your home mortgage. True, interest rates are low these days, but paying off your mortgage faster will save you interest over time and is a guaranteed return.

Set up an emergency fund

You now have about $10,000 left and put it in a Tax Free Savings Account for emergency use. Just be careful about how you define emergency. It isn’t a vacation or new car. It is something that you could not have anticipated like a job loss or a health issue.

Depending on the size and complexity of the inheritance, you might also consult a  wealth manager for guidance in developing a retirement plan for investing and spending your newly attained wealth.

I hope you enjoyed reading this weeks Blog. When Downsizing, Investing, Buying or Selling Real Estate in Toronto & GTA visit my website at www.movetorontoseniors.com

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A Grandparents Guide

Seven Easy Steps to Handling Your New Role

Set the Stage for Peaceful Relationships

Right from the get-go, many expecting parents experience tension or a feeling of being torn between two – or even three or four – sets of grandparents forcefully asserting their wishes. It's a recipe for stress that soon-to-be moms and dads definitely don't need.

As much as you can, stay positive, be flexible, and go with the flow. Focus on supporting the expecting parents rather than telling them what you want – they'll appreciate it.

Listen and Accept

No matter how many kids you raised or how they turned out, your adult child and his or her spouse or partner is now in charge of the child rearing. Be cautious about offering opinions or advice unless asked directly. And even then, tread lightly and express yourself gently.It's all about respecting limits.  We all parent differently, and it's your child's turn to learn what works for them.

Go Gentle on the Buying

It's tempting to go on a shopping spree. But before you do, ask the parents-to-be what they need, what they don't want, and whether there's a baby registry or wish list you can consult before you buy anything.

Some expectant parents welcome all gifts, but others would prefer to make most of the choices about clothing, toys, and gear themselves. And there may be other factors they're weighing, like an impending move or limited space.

Don't take their Decisions Personally

They're advocates of co-sleeping? Don't want to circumcise? Want to name their baby boy Thor? Honestly, it's not your problem. Yes, you may feel a tad embarrassed sharing your grandson's new moniker with your friends, but you didn't name him, right? Just raise your eyebrows and report it with a smile.

Let the Bonding Occur Naturally

You've been so excited to meet the new baby – and then she wails nonstop whenever she's in your arms and ignores your coos and funny faces. It's disappointing, sure, but don't fret that your relationship will always be so rocky.

You anticipate having a wonderful relationship with your grandchild, but that doesn't automatically happen. It may take time and may not always resemble the picture you have in your mind."

Try to avoid specific expectations – they can be a recipe for disappointment.

Support their Rules

You're used to being the one in charge, but this time it's your child's turn. If your grandchild has a routine for naps and meals, make sure you maintain it, even if it means cutting an outing short. If every time your grandchild goes out with Grandma they come home exhausted and cranky, those outings are not going to happen as often.

Give the New Parents a Rest

It's easy to forget how overwhelming it is to be a new parent, and how hard it can be to accomplish the basics. This is where you can step in to save the day.

During visits, offer to take care of your new grandchild while the parents nap or get other things done. Ask if you can help by running errands, making meals, or cleaning up. Some new parents are reluctant to ask grandparents to help, so you may get better results if you just jump in and do what's needed, like filling the dishwasher or making sandwiches.