Should you pay down your mortgage or contribute to your RRSP?

It’s usually best to find a balance between paying your mortgage and contributing to your RRSP. Here’s why.

In a perfect world, paying off your mortgage before contributing to your RRSP would be a good thing to do. But that would call for extreme discipline.

After your last mortgage payment, you would have to keep putting the same monthly amount aside for your retirement. That’s not very realistic.

Shutterstock (Desjardins)
Shutterstock (Desjardins)

Another possibility is to make substantial contributions to your RRSP before buying a home. However, a home is more than a financial investment; it’s a life choice that you don’t want to put off for too long. The RRSP that you started early could help make you a homeowner more quickly through the Home Buyers’ Plan.

That’s why it’s usually best to find a balance between paying your mortgage and contributing to your RRSP, even when RRSP returns are lower than mortgage interest rates. Continue reading

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Different ways of painting

Painting a surface purple – or any other colour – is a trivial exercise in itself, but there are techniques to give the finish a refined, rich and often spectacular effect. There are too many techniques to list them all. We’ll limit ourselves to the most current ones, which we sometimes tend to forget.

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iStock

Natural sponge painting consists of giving the painted surface a less smooth, less polished aspect, making it more natural. You can either paint directly with a sponge or use a brush or roller first and then go back and use the sponge. If the sponge is synthetic, the result will be slightly different. Using a glaze or adding a little water to latex paint makes it more translucent and enhances the power of the effect. An example of a combination of colours: a dark blue applied over a clear blue will give the impression of a stormy sky. Continue reading

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Royal purple

A red purple, a blue purple, a slightly purple sunset, the purple of the mountains on the horizon, the purple sheen caused by intense cold: all of these examples evoke something dark and cold. But is there any other colour in decoration that is richer and more sumptuous than purple?

A mixture of blue and red, purple is the ultimate luxury colour. A room with an omnipresent purple adds splendour to a room, making it brighter. Crimson is its only rival in terms of royalty.

Have you ever seen a padded purple wall or furniture? It’s luxurious, imposing, almost royal. In a bedroom with a four-poster bed and chandeliers, any purple fabric is even better.

Combined with black, purple provides an unsuspected wealth, as long as a river of natural light can enter the room. If not, multiple recessed floodlights provide minimum lighting to avoid a dark and heavy atmosphere. Continue reading