Financial Library

Mortgage Insurance: Not Necessarily as Advertised

It's all part of the process when you are arranging a mortgage for your new home. The bank employee inevitably asks if you would like to purchase mortgage insurance. No one likes to think about their own mortality; however, we all know deep down that stuff happens. People contract terminal illnesses or suffer debilitating or fatal accidents.

Knowing that your loved ones will be taken care of can provide some peace of mind - so you decide to accept the bank's offer for mortgage insurance. But beware the policy may actually not provide the protection you are expecting.

Beware How You Help Your Kids Financially

A recent TD Canada Trust survey found that 10% of Canadians are considering the purchase of a condominium for their adult children. This is up from 5% just a year earlier and certainly reflects drastically increasing housing costs over the past decade.

Investing in Your Child's Future

College and university are more important than ever before.

Generally, two out of every three new jobs require some form of post-secondary education. According to the 2006 Census, Canadians with a university degree earned an average annual salary of $56,048 compared to $37,403 for Canadians with a high school diploma.

Yet the cost of a post-secondary education keeps growing.

This Advice Could Save You a Fortune

Most people mistakenly believe that they will never fall victim to financial or identity theft. The sad reality is that billions of dollars are lost each year to these crimes, and the losses are only getting bigger. Here are some steps you can take to reduce your chances of becoming a fraud victim:

Keep it thin. Don't carry extra credit cards, birth certificate, social insurance number card or passport with you unless absolutely necessary. This minimizes the information a crook can get about you when your wallet or purse is lost or stolen.

Traveling in Retirement

One of the top retirement goals for many is travel. As many as 1.5 million so called 'snowbirds' travel to the Southern United States during the winter. With summer just around the corner, thoughts turn to travel within our borders, too. The Canada Safety Council states that a few simple precautions can help ensure a safe, healthy and enjoyable trip any time of the year.

Personal Finance & Job Transfers

These days, having a career presents many new rewards and far more challenges than it ever used to. What we used to take for granted, including our work location, has changed dramatically as companies continue to grow and even go global.

This can be great for a business and its bottom line, but really tough on the employees within it. Because we never know exactly what the future holds, you may find yourself facing a job transfer at some point along your career path.

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