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) At Home: Debt consolidation loans can be shark-infested swim to solvency
To the person drowning in debt, a debt-consolidation loan looks a lot like a lifesaver. But reaching for it without knowing exactly what it's made of could be a serious mistake. The way it's supposed to work: You pay off all your small, high-interest consumer debts with the proceeds of a new low-interest loan whose payment is less than the total of the smaller payments. In theory, consolidation is a terrific solution for a burdensome debt situation. In reality, it can force you into even more treacherous waters. Basically, there are three ways to consolidate: 1. A new low-interest signature (unsecured) loan from an individual, bank or credit union. If you can get it, this type of debt consolidation is ideal. 2. Transferring all of the balances to a new credit card. More>> - (
) Financial planners help readers make cash last
How to not outlive their money and how to find a financial planner were some of the most common concerns of readers who contacted certified financial planners Sunday during a live Web chat and hotline hosted by the Financial Planning Association and The Dallas Morning News. . More>> - (
) Creating a retirement income
(Special) - Retirement poses numerous challenges for Canadians who have spent their entire lives working and relying on a regular paycheque to live. When they retire, however, they usually have less money to live on and, in many cases, they no longer have a regular paycheque coming in to pay living and other expenses. . More>>