What Are Segregated Funds?

Segregated funds – or seg funds – consist of a pool of investments in securities such as bonds and stocks, similar to mutual funds, but sold by life insurance companies. Segregated funds are owned by the life insurance company – not the investor – and must...

Home Equity Line Of Credit: Friend Or Foe?

Last month, the Bank of Canada issued a report highlighting the explosive growth of home equity line of credit use and mortgage refinancing in the past decade, which have surged from $8 billion in 2001 to $64 billion in 2010. Canadians appear to be using these loans...

How To Boost Your Credit Card Rewards

I use a cash back credit card to earn credit card rewards on my everyday purchases and monthly bill payments. Since I spend the money anyway, I like to use the method of payment that gives me the best return. You need to look at your overall spending habits to figure...

Financial Literacy Is A Lifelong Pursuit

Last year the results from a Task Force on Financial Literacy were published and the findings were totally not surprising to me. The Task Force defines financial literacy as “the knowledge, skills and confidence to make responsible financial decisions” that are...

Will A Pension Plan Handcuff You To Your Job?

It’s getting harder to find a job with a good pension plan these days.  The average employee with a defined benefit plan will typically spend three decades working for the same organization and can be set for life in retirement. I consider myself lucky to have a...

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