Neither forbearance nor deferment count as default on a student loan which is incredibly beneficial for borrowers who may
experience unexpected unemployment or a significant decrease in income for a period of time.
Neither forbearance nor deferment count as default on a student loan which is incredibly beneficial for borrowers who may
experience unexpected unemployment or a significant decrease in income for a period of time.
Many also use RRSPs as a source of emergency funds in the event
of unexpected unemployment: you can take money out whenever you wish, provided you pay tax on it.
Despite rough patches and
unexpected unemployment, you should try to do everything in your power to keep your retirement funds right where they are.
Being financially prepared in case of health emergencies or
unexpected unemployment can save you from going into debt.
For instance,
unexpected unemployment can be a time of transition and stress.