Category: Financial Education

5 Feb

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Understanding Nonrecourse Debt In Canada: Simplified Examples and Common Applications

It's a loan where the lender's only "recourse" or way to get their money back if the borrower defaults is to seize the asset that was used as collateral...

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28 Jan

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Understanding RRSPs in Canada: Tax-Deferred, Not Tax-Free

The confusion often arises because of the immediate tax benefit seen during the contribution years. Since RRSP contributions reduce your taxable income for the year, they can result in...

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23 Jan

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Understanding Modified Endowment Contracts (MECs): A Comprehensive Guide

A Modified Endowment Contract (MEC) is a special classification for life insurance policies in the United States, established under the Technical and Miscellaneous Revenue Act of 1988.

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