Raj and Amala, Recently Retired

Raj was a specialized tradesman and Amala was in childcare before they both retired. They now live on a fixed income from Raj's pension and shared investments. Their RRSP was converted to a RRIF, and is also being used as part of their income. The couple are now enjoying their leisure time together, are seeing friends and are very family oriented, taking care to manage their finances to benefit their children and grandchildren. 

April 2010
A HELOC Strategy to Suit Their Lifestyle

Raj and Amala paid-off their mortgage years ago, and have little expenses these days. However, the house is in need of a little repair, and Raj isn't quite as adventurous as he used to be when it comes to household do-it-yourself projects. Raj and Amala took out a small Meritline Home Equity Line of Credit, allowing them to hire out some work around the house. With a low interest rate, payments as low as interest only, it allows them a degree of comfort and flexibility.