Hello, everyone!
I’m in my mid-30s, currently earn $70K/year and have no debt. My savings and investments total $249K, of which $84K is invested in $CASH.TO and a high-interest savings account earning approximately 5.25%. The rest is invested through maxed-out TFSA and RRSP accounts. I recently started an FHSA and aim to maximize contributions this year.
With a credit score of 805, I possess four credit cards with a combined credit limit of $36K. I maintain preauthorized payments and have a history of timely payments. Additionally, I was approved for a $20K Line of Credit at 10.45%, which I don't plan on actively utilizing. However, I believe it could diversify my limited credit history.
Given the high property prices in BC, even a small apartment is currently beyond my reach. I'm wondering if there are any steps, besides working on getting a better job or increasing my salary, that I could take to diversify my credit further and potentially enhance my chances of securing a mortgage in the future.
Your insights on alternative strategies, financial adjustments, or any other creative suggestions would be greatly appreciated.
Thank you!
For anyone curious, here is what my current investment portfolio looks like,