For most of us, becoming debt-free is the ultimate goal. However many of our clients wish to leverage their debt investing in the market or perhaps finally get to those home renovations they have always been dreaming of. We have a team of very knowledgeable advisors who can help guide you to make the best decision on how to stretch your dollar to provide your family with the protection, retirement or lifestyle plans you didn’t know you could afford.
If you are like many Canadians, you constantly have money going in and coming out of your bank accounts. Part of this includes your debt and what debt facilities you are currently using to manage your debt accounts. The Manulife One Account works like a bank account to accept cash and pay expenses. It allows our clients to easily increase or decrease their mortgage payments, access home equity when needed and significantly reduce interest costs to become debt-free sooner.
Manulife One Accounts can serve as a financial buffer for those in particular who are self-employed and do not have the consistency of cash flow to meet their monthly debt obligations. Or as many of us have experienced during Covid Lockdowns, a decrease in hours worked and ultimately a paycheck. Unfortunately, during this period of paused income, expenses and debt payments continue to be required. Allow yourself to have the mental relief you need for times you cannot control.
You can customize your mortgage to meet your needs and have flexible sub accounts to help achieve your goals and manage your lifestyle. Sub Accounts can consist of the conventional principal and interest payment that most people have become comfortable with by still providing the disciplined approach to reducing debt.
Manulife One allows you to manage your money your way! It combines loans, mortgages, savings and income into one efficient vehicle with the ability to track the interest of each account separately.
Your home is most likely your biggest investment and can provide many options at retirement. What if you could use your home for retirement income tax free and the best news yet – you wouldn’t have to sell your home!!!
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