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bizaro86 · 11-06-2012, 11:34 PM

Terrible financial advice isn't limited to the mlm crowd. My 70 plus father in law depends on his income from some GICs. He wasn't happy with his current institution, and I suggested if he was going to pay the penalty to get out of his current GICs he should put the max into a TFSA so the interest is at least tax free.

So an elderly man walks into a branch of a big bank, and asks for a GIC in a TFSA, and the "investment advisor" gives him a hard sell on setting up a HELOC and using it to buy gold, because "inflation is the biggest risk to seniors"

I haven't been that angry with a corporation for a long time.

11-06-2012, 11:34 PM	#69
bizaro86 Franchise Player Join Date: Sep 2008 Exp:	Terrible financial advice isn't limited to the mlm crowd. My 70 plus father in law depends on his income from some GICs. He wasn't happy with his current institution, and I suggested if he was going to pay the penalty to get out of his current GICs he should put the max into a TFSA so the interest is at least tax free. So an elderly man walks into a branch of a big bank, and asks for a GIC in a TFSA, and the "investment advisor" gives him a hard sell on setting up a HELOC and using it to buy gold, because "inflation is the biggest risk to seniors" I haven't been that angry with a corporation for a long time.