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Debt can be a magni er of losses and not just gains Dollars & C Sense onsider this a friendly warning: be aware of the risk of carrying too much debt. This is the case for many Canadians. Eventually this is going to cause serious nancial pain for individuals and nancial risk to the health of our economy. Statistics Canada released their quarterly numbers and again we have pushed debt to record levels. This trend towards higher debt has been the pattern for several years. For now, high debt is helping Canadians increase their net worth. So why is debt dangerous if it is helping to create wealth? It acts as a catalyst and can speed up success or failure. When things are going your way, debt can be an excellent nancial tool. If you can't afford to pay cash for the entire cost of a house you assume debt in the form of a mortgage. Let's say you purchase a $500,000 house with a $100,000 down payment. Your house increases in value by $100,000 and as easy as that, you have ing to give an equal amount of gain in your wealth. The same is true if you borrow to invest and the stock market increases as it has over the last few 13 | Thursday, October 3, 2013 | OAKVILLE BEAVER | www.insideHALTON.com years. The conclusion might be that debt is your friend. Unfortunately, navigating your way see Holding on p.17 Peter Watson Guest Contributor just doubled your money. The equity in your home is now $200,000. That type of nancial growth would take years of working and sav- RECYCLE Celebrating 32yrs for $32 Featuring Chef Stephan's 3 course prix fix menu for $32.00 and regular a la carte menu. Join us October 1st - November 3rd SPECIAL WINE FEATURES Black Sambucca Semifreddo or Homemade Chocolate Chambord Cheese Cake or Crème Caramel Icy Water Arctic Char Medallions Baked with a Rechsteiner Prosecco Cream Sauce, Tomato Rice Pilaff or Certified Angus Beef Top Sirloin Roast with Fresh Rosemary, Garlic Red Wine Sauce or Traditional Fettuccine Carbonara with Fire Roasted Bacon, Egg Yolk,Cracked Peppercorn, White Wine Cream Sauce Michael's Traditional Homemade Caesar Salad, Parmigiano and Garlic Croutons or Baby Shrimp Cocktail on a Bed of Greens with a Cognac, Calypso Sauce or Chef's Daily Soup Creation THIS NEWSPAPER Look for it inside! RedPlum® is not distributed in all areas. 1715 LAKESHORE ROAD WEST MISSISSAUGA, ONTARIO 905.822.5751 www.michaelsbackdoor.com