Whether it be product terms, or product names, most Canadians’ are left wondering “What does that mean”? or “I don’t get it”.  The explanation is usually convoluted, and you can’t relay the meaning to a family member or a colleague a day later.

How the financial industry profits from bafflegab (at their clients’ expense)

Link: How the financial industry profits from bafflegab (at their clients’ expense)

Quote: “Index-linked GICs: A basic rule of investing is that low risk means low returns. Banks know people don’t want to hear that, so they sell index-linked guaranteed investment certificates by highlighting the potential for stock market returns with GIC safety. The typical return with these GICs is well below what a basic diversified portfolio of stocks and bonds can achieve over the long term. That’s how financially literate people invest.”