Page 10 - Sports Energy News, Cornwall, Issue No 150

10 Issue #150 July 2025 www.sportsenergynews.com

Neighbourly Advice From Our Local Professionals
Neighbourly
Advice Fr
om Our
Local Pr
ofessionals

By Brian Johnston Corporation (CMHC) said 48% of Canadians by borrowers and providing them with
Mortgage Specialist used brokers to find mortgage solutions, an reassurance are some of the ways brokers can
annual jump of 5%, in increasingly choppy continue to step up to the plate in the months
Mortgage Brokers Front and Center as economic waters. ahead, according to Michelle Campbell,
Turbulent Markets Continue The 2025 outlook for the economy has been hit recently named president of the Canadian
Economic volatility and affordability issues hard by the ongoing US trade war, mounting Mortgage Brokers Association – Ontario
are continuing to weigh against Canada’s fears of job losses, and speculation about a (CMBA-ON).
housing market – but brokers are playing an possible recession, putting into sharp focus She told Canadian Mortgage Professional a
increasingly important role in the mortgage the value of mortgage brokers in providing relationship-driven approach, rather than
sector as clients seek to navigate that turmoil. detailed borrowing and homebuying advice. a transactional mindset, would be key for
Last year, Canada Mortgage and Housing Acknowledging the challenges faced Continued on page 13

By Michael VanderMeer Most country people know that the only thing have seen beds over fifty years old still pass
Real Estate Agent that goes into a septic is toilet paper and what a septic inspection. Although soil conditions
comes out of your body. The problem is some can play a major part in a septic’s life span,
people are not educated about septics. Some the care of the bed can also greatly increase
THE DO’S AND DONT’S OF SEPTIC people with little or no knowledge of septic’s its life expectancy. Some believe that your
BEDS drain grease, chemicals, cigarette butts, and bed should be pumped out yearly and others
Most homes in the country have septic beds
and some of these beds are getting pretty other items into their septic’s, which can believe it should be pumped out every 3 - 5
damage or plug up the septic system. It’s years. For the most part this will depend on
old. We are seeing septic beds failing septic things like this that can greatly reduce the life how many people are in the household.
inspections, but it is not always age that is the span of a septic. The greatest thing since sliced bread for
factor. These failed beds, for the most part, are Maintaining your bed and not abusing it is prolonging your septic beds life is an effluent
due to neglect, misuse, and non maintenance
of the bed. the best way to prolong the life of your bed. I Continued on page 13

administered pension that is funded income, meaning if you begin benefits
Max Ming P.Eng. CFP ® by individuals (and their employers) while you are still working you will
Financial Planner
throughout their working years. Your CPP ‘lose’ a significant amount to income tax.
GOVERNMENT RETIREMENT benefit amount will depend on how much Another key with CPP & OAS are that the
BENEFITS – TIMING IS you (and your employer) have contributed benefits are indexed (meaning they rise)
EVERYTHING over the years, as well as how many years with the cost of living.
One topic we continue to get numerous you have contributed for. The maximum Timing is Everything - a significant
questions on, even from seasoned benefit at 65 is $17,196/yr. decision in your retirement income will
investors, is understanding how Canada OAS is a universal retirement pension for come from when you elect to begin taking
Pension Plan (CPP) and Old Age Security Canadians that, unlike CPP, you’ve never your CPP and OAS. CPP has early or late

(OAS) fit into retirement income. Seeing as this impacts a high contributed to. OAS is based off of the withdrawal options, meaning every month
percentage of retirees, this month we’ll go over some basic years you’ve lived in Canada after age 18. before 65 your CPP payment is reduced
details of each. The maximum benefit at 65 is $8,732/yr. by 0.6% (36% reduced at age 60). CPP’s
As most everyone knows, Canada Pension Plan is a government CPP and OAS benefits are fully taxable Continued on page 13

With our 2025 “Just Homes Listing Program”, Homeowners will never pay more than

3 3/4%+ HST commission which includes full weekly local newspaper

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Serving the Community since 1959
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sandy@homesnet.ca commission to only 2% + HST
“Not intented to solicit properties already listed for sale”