Life Income Fund - LIF
Categories: Mutual Funds, Managed Funds
Things in Canada are...a little different. Americans say “about.” Canadians say “aboot.” Americans have ham. Canadians have Canadian bacon. Americans have dollars. Canadians have cute, multi-colored dollars of their own.
In the U.S., there are a number of programs that allow an investor to set up an account for retirement, with the government giving tax incentives to help out. An IRA is a widely known example. The Life Income Fund is the Canadian equivalent.
The program provides a tax-deferred way to save money for retirement. If, of course, you're happy saving for retirement with that cute, colorful currency. Or should we say "colourful"?