DO YOU KNOW THE MEANINGS OF THESE FINANCIAL TERMS?
- Car Emissions Savings Guarantee
- Canada Education Savings Grant
- Canadian Equity Savings Guarantee
2. CAPITAL GAIN
- A new type of laundry detergent
- Profit made in Ottawa
- Proceeds from the sale of a capital asset (e.g. investment or real estate) in excess of it's cost base
3. ESTATE PLAN
- Architectural blueprints for an estate
- A plan that outlines the management of an individual's assets in the event of their incapacitation or death
- A roadmap to help an individual become the owner of a vast estate
4. SEGREGATED FUND CONTRACT
- An investment product sold by life insurance companies that provides a guarantee to protect part of the money you invest
- A contract which separates marital assets in the event of divorce
- An agreement on the basic terms and conditions of an investment
Want to increase your financial IQ? A good place to start is to flip through this issue of Solutions. Also, talk to your advisor. He or she has a wealth of resources available to help answer any questions you may have.
© 2018 Manulife. The persons and situations depicted are fictional and their resemblance to anyone living or dead is purely coincidental. This media is for information purposes only and is not intended to provide specific financial, tax, legal, accounting or other advice and should not be relied upon in that regard. Many of the issues discussed will vary by province. Individuals should seek the advice of professionals to ensure that any action taken with respect to this information is appropriate to their specific situation. E & O E. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Any amount that is allocated to a segregated fund is invested at the risk of the contractholder and may increase or decrease in value.