February 22 roundup - MoneySense

February 22 roundup

On working past the age of 65, tax breaks for first-time home buyers in B.C. and pre-paying your mortgage.


• A new poll finds a growing number of Canadians are planning to work past the age of 65. Respondents to Sun Life Financial’s annual Unretirement survey said they’re worried about having enough to money in old age as they take on more debt. Nearly half plan to work part-time or freelance to help cope with the costs associated with longer life expectancies.

• A new, temporary tax credit will help first-time buyers of new homes in B.C. save up to $10,000 on their purchase. The initiative is also expected to give builders in the province a boost but mostly shuts out renovators.

• Want to pay off your mortgage early? Be careful so as to avoid paying hefty penalties to your lender.