Quotations by Rejean Venne

In big cities like Ottawa and Toronto, multi-unit income properties are very hard to come by for under $1 million. However, in many small towns, you can find some for a fraction of the price with actual rents that are not that far off the big-city numbers. Many small towns in Canada are contracting in size and very little money is put into infrastructure. On the other hand, some small towns are still growing, long after their main economic industry changed (e.g. a growing retired population). You have to find a property that's in distress and far from its potential. And then work hard... That's the simple formula. [2021] - Rejean Venne

You can earn approximately $13,000 as an individual each year in Canada while avoiding almost all taxes. This $13,000 can also come in the form of RRSP withdrawals. With that in mind, you could set yourself up with a plan that would generate $40,000 per year using a mix of an RRSP and a TFSA while paying virtually no taxes. An RRSP/TFSA hybrid plan could see a couple having combined RRSPs of $650,000 and combined TFSAs worth $350,000. Drawing down 4% of each account would result in $40,000 in income while paying zero taxes. If a couple with $70,000 salaries started maximizing their RRSP and TFSA contributions from scratch today with no assets, they could reach the numbers above in under 15 years. [2021] - Rejean Venne