Keir, who works as a drilling engineer in oil and gas exploration, has been fairly successful in delivering on this original goal. As Sène explains, “every investment has a risk, but in this case, 90% of the cases have been won, and the insurer covers the capital, giving our clients peace of mind”. Government pensions will not be nearly enough to provide a satisfactory retirement lifestyle for most Canadians, and guaranteed employer pensions are rapidly becoming a thing of the past.

Where applicable, Plum’s service charge fee is collected from your Primary Pocket on the first day of each calendar month. Of course the bank has costs involved with running both the savings account and running a mortgage but this will amount to less than 1% so the bank is making a healthy 2.Dudley Building Society also offers an easy-access tracker account, but the rates on offer are pretty low. Try reaching out to your own bank where the original loan was taken and see if they’d be willing to give you a rate reduction.

This includes overnight swaps of vast amounts of money between banks and the UK Government to generate liquidity. And you likely weren’t going to earn 9 percent on cash back then in a savings account from a bank insured by the Federal Deposit Insurance Corp. They played into most peoples natural desire to make some easy extra money, the banks told you that at the end of the term not only would there be enough money to pay off the loan on your home but there would probably be enough for a nice little payout on top. of its total fund in cash, government securities and repurchase agreements backed by the Government. They slide the land titles into a shell corporation and then sell out to a development corporation for 75% of book value.The industry brilliantly capitalizes on the combination of poor understanding of fees, deep loyalty, and misplaced trust by charging Canadians the highest mutual fund fees in the world. With the Plum money-saving and investment app, we already provide options to help you increase the amount you save and diversify your investments.