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More Seniors retiring with debt

From insurance-journal.ca (original article is here) Enticed by historically low interest rates and easy credit, about one-quarter of Canadians over 65 are retiring in debt, while some younger Canadians are caught in debt traps that can be “shocking” in size, a recent Advocis seminar was told.“I don’t think you can walk into a bank without some sort of marketing on credit. It’s become commonplace for people to get lines of credit. It just feels normal,” said Laura Boden CFP, CLU, CHS with Boden & Associates. Boden said the problem is that some people may start out with a relatively harmless line of credit of say, $20,000-$30,000, but over time that can easily rise to $70,000-$80,000 if they

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