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January 29 Update: How to maximize the elite status benefits from The Platinum Card from American Express updated, great Marriott bonus in the Bahamas, BA and AC China flight cancellations + MORE Jan 29th
Another feature update to let you know about. How to maximize the elite status benefits from The Platinum Card from American Express has been updated and now shows you how you can get 11 hotel elite status, 1 airline status, 2 car rental status and 1 cruise line status with The Platinum Card. My t.... More »
Saving New Jersey, if That's Possible + MORE Aug 13th
Legislative leaders discover they have a public pension problem..... More »
Second Cup signs deal for $8-million loan following review of strategic options + MORE Dec 5th
MISSISSAUGA, Ont. – The Second Cup Ltd. (TSX:SCU) has signed a deal for a four-year, $8-million secured term loan from an affiliate of Serruya Private Equity following a review of its strategic options.
The company says proceeds from the loan will be used to repay its existing $6-million credi.... More »
Business credit reports, scores and payment history + MORE Jul 23rd
If you have an S Corp, your payment history may be reflected on both your business and personal credit reports and scores..... More »
Canadian lender Desjardins may stop pipeline loans Jul 9th
Desjardins, the largest association of credit unions in North America, on Friday temporarily suspended lending for such projects and may make the decision permanent, spokesman Jacques Bouchard told Reuters by telephone..... More »
Home equity: A retirement fallback plan
– moneysense.ca
Illustration By Chris GashAfter Charles Prusky was forced to retire from his job as a machinist-welder at 58 due to illness, it wasn’t long before he and his wife Anne ran out of savings. That made the B.C. couple wonder how they could make ends meet with no employer pension and limited government benefits. The Pruskys had already downsized once, but fortunately still owned a modest three-bedroom bungalow outside Kelowna. So they wondered: how could they best use the equity in their house to provide the necessities of life?
As they soon discovered, planning for retirement comes with the risk of a serious and unexpected setback. If you’re a homeowner, however, you at least have a fallback plan. You should always plan to accumulate enough savings to fund your expected retirement needs, but if you ultimately face financial misfortune, tapping your home equity can make up the difference. What’s the best way to do that? In what follows, we describe three common strategies, each of which the Pruskys considered: a reverse mortgage, a home equity line of credit (HELOC), and downsizing or selling…
